Magnolia Audio Video, a regional electronics retailer owned by Best Buy, has plans to go national and transform itself into the nation's leading provider of AV Design and installation services.
CEO Jim Tweten said the expansion would fill a need for a national custom installation chain with a recognizable brand and the financial backing of a Fortune 500 company. In the process, it will create an “end-to-end solution” covering all CE bases with Best Buy, Magnolia Home Theater and Magnolia Audio Video representing a good-better-best step-up scenario.
Magnolia will begin its transformation this summer by closing six underperforming stores and remodeling the remaining 13 by early November. The chain will then spend a year tweaking and evaluating the new operation before embarking on its expansion plans.
Source: TWICE






