A Steinway & Sons piano. Picture Credit score: Filipp Romanovski
Steinway Musical Devices Holdings, the entity behind 169-year-old piano firm Steinway & Sons, has revealed plans to listing shares on the New York Inventory Alternate (NYSE).
The IPO ambitions of Astoria, New York-headquartered Steinway Musical Devices got here to gentle in an S-1 that was only recently filed with the Securities and Alternate Fee (SEC). In keeping with this all-encompassing doc, Steinway shares would start buying and selling below the image “STWY” – although the S-1 doesn’t seem to establish the inventory’s goal worth or doable IPO date.
The in-depth evaluation does nonetheless cowl all method of different subjects pertaining to Steinway, which present proprietor Paulson & Co. took personal again in 2013. The corporate’s internet gross sales in 2021 totaled about $538.35 million, as an example, with 75.5 % of the entire attributable to pianos and the remaining 24.5 % having come from numerous Conn-Selmer devices.
Additionally in 2021, 69 % of the corporate’s piano gross sales derived from Steinway & Sons, whereas over half of Conn-Selmer gross sales “had been generated by our most well-liked supplier community to varsities and households who take part in starting music teaching programs.”
Though 53.6 % of the enterprise’s 2021 gross sales resulted from clients within the Americas, towards 28.5 % for APAC and 17.9 % for EMEA, higher-ups emphasised the potential related to rising their firm’s reach in China.
The latter has “the world’s largest” piano market, per Steinway, “with a mean of round 400,000 pianos being bought a yr from 2017 to 2020, in comparison with a mean of round 30,000 per yr in the USA over the identical interval.”
“As China continues to develop and accumulate wealth, we are going to search to seize the rising demand for ultra-premium pianos by personal clients,” reads Steinway’s SEC submitting, noting additionally that the nation of 1.4 billion residents accounted for 28.7 % of piano gross sales within the 2021 fiscal yr.
Lastly, by way of the enterprise’s piano gross sales, the Steinway Spirio and subsequently launched Spirio | r (which include a “complimentary” iPad and iPad Professional, respectively) made up 32 % of the class in 2021, per the breakdown.
And amid skyrocketing home costs, execs indicated that they “usually count on demand for our merchandise to trace elevated exercise within the housing market, as shoppers usually tend to purchase Steinway pianos as they buy new and higher-end houses.”
On the chance entrance, Steinway acknowledged that every thing from pure disasters to an inherently lengthy manufacturing time (purportedly “an artisanal course of that takes not less than six months per piano”) might negatively have an effect on operations sooner or later.
A Steinway & Sons piano. Picture Credit score: Filipp Romanovski
Steinway Musical Devices Holdings, the entity behind 169-year-old piano firm Steinway & Sons, has revealed plans to listing shares on the New York Inventory Alternate (NYSE).
The IPO ambitions of Astoria, New York-headquartered Steinway Musical Devices got here to gentle in an S-1 that was only recently filed with the Securities and Alternate Fee (SEC). In keeping with this all-encompassing doc, Steinway shares would start buying and selling below the image “STWY” – although the S-1 doesn’t seem to establish the inventory’s goal worth or doable IPO date.
The in-depth evaluation does nonetheless cowl all method of different subjects pertaining to Steinway, which present proprietor Paulson & Co. took personal again in 2013. The corporate’s internet gross sales in 2021 totaled about $538.35 million, as an example, with 75.5 % of the entire attributable to pianos and the remaining 24.5 % having come from numerous Conn-Selmer devices.
Additionally in 2021, 69 % of the corporate’s piano gross sales derived from Steinway & Sons, whereas over half of Conn-Selmer gross sales “had been generated by our most well-liked supplier community to varsities and households who take part in starting music teaching programs.”
Though 53.6 % of the enterprise’s 2021 gross sales resulted from clients within the Americas, towards 28.5 % for APAC and 17.9 % for EMEA, higher-ups emphasised the potential related to rising their firm’s reach in China.
The latter has “the world’s largest” piano market, per Steinway, “with a mean of round 400,000 pianos being bought a yr from 2017 to 2020, in comparison with a mean of round 30,000 per yr in the USA over the identical interval.”
“As China continues to develop and accumulate wealth, we are going to search to seize the rising demand for ultra-premium pianos by personal clients,” reads Steinway’s SEC submitting, noting additionally that the nation of 1.4 billion residents accounted for 28.7 % of piano gross sales within the 2021 fiscal yr.
Lastly, by way of the enterprise’s piano gross sales, the Steinway Spirio and subsequently launched Spirio | r (which include a “complimentary” iPad and iPad Professional, respectively) made up 32 % of the class in 2021, per the breakdown.
And amid skyrocketing home costs, execs indicated that they “usually count on demand for our merchandise to trace elevated exercise within the housing market, as shoppers usually tend to purchase Steinway pianos as they buy new and higher-end houses.”
On the chance entrance, Steinway acknowledged that every thing from pure disasters to an inherently lengthy manufacturing time (purportedly “an artisanal course of that takes not less than six months per piano”) might negatively have an effect on operations sooner or later.
A Steinway & Sons piano. Picture Credit score: Filipp Romanovski
Steinway Musical Devices Holdings, the entity behind 169-year-old piano firm Steinway & Sons, has revealed plans to listing shares on the New York Inventory Alternate (NYSE).
The IPO ambitions of Astoria, New York-headquartered Steinway Musical Devices got here to gentle in an S-1 that was only recently filed with the Securities and Alternate Fee (SEC). In keeping with this all-encompassing doc, Steinway shares would start buying and selling below the image “STWY” – although the S-1 doesn’t seem to establish the inventory’s goal worth or doable IPO date.
The in-depth evaluation does nonetheless cowl all method of different subjects pertaining to Steinway, which present proprietor Paulson & Co. took personal again in 2013. The corporate’s internet gross sales in 2021 totaled about $538.35 million, as an example, with 75.5 % of the entire attributable to pianos and the remaining 24.5 % having come from numerous Conn-Selmer devices.
Additionally in 2021, 69 % of the corporate’s piano gross sales derived from Steinway & Sons, whereas over half of Conn-Selmer gross sales “had been generated by our most well-liked supplier community to varsities and households who take part in starting music teaching programs.”
Though 53.6 % of the enterprise’s 2021 gross sales resulted from clients within the Americas, towards 28.5 % for APAC and 17.9 % for EMEA, higher-ups emphasised the potential related to rising their firm’s reach in China.
The latter has “the world’s largest” piano market, per Steinway, “with a mean of round 400,000 pianos being bought a yr from 2017 to 2020, in comparison with a mean of round 30,000 per yr in the USA over the identical interval.”
“As China continues to develop and accumulate wealth, we are going to search to seize the rising demand for ultra-premium pianos by personal clients,” reads Steinway’s SEC submitting, noting additionally that the nation of 1.4 billion residents accounted for 28.7 % of piano gross sales within the 2021 fiscal yr.
Lastly, by way of the enterprise’s piano gross sales, the Steinway Spirio and subsequently launched Spirio | r (which include a “complimentary” iPad and iPad Professional, respectively) made up 32 % of the class in 2021, per the breakdown.
And amid skyrocketing home costs, execs indicated that they “usually count on demand for our merchandise to trace elevated exercise within the housing market, as shoppers usually tend to purchase Steinway pianos as they buy new and higher-end houses.”
On the chance entrance, Steinway acknowledged that every thing from pure disasters to an inherently lengthy manufacturing time (purportedly “an artisanal course of that takes not less than six months per piano”) might negatively have an effect on operations sooner or later.
A Steinway & Sons piano. Picture Credit score: Filipp Romanovski
Steinway Musical Devices Holdings, the entity behind 169-year-old piano firm Steinway & Sons, has revealed plans to listing shares on the New York Inventory Alternate (NYSE).
The IPO ambitions of Astoria, New York-headquartered Steinway Musical Devices got here to gentle in an S-1 that was only recently filed with the Securities and Alternate Fee (SEC). In keeping with this all-encompassing doc, Steinway shares would start buying and selling below the image “STWY” – although the S-1 doesn’t seem to establish the inventory’s goal worth or doable IPO date.
The in-depth evaluation does nonetheless cowl all method of different subjects pertaining to Steinway, which present proprietor Paulson & Co. took personal again in 2013. The corporate’s internet gross sales in 2021 totaled about $538.35 million, as an example, with 75.5 % of the entire attributable to pianos and the remaining 24.5 % having come from numerous Conn-Selmer devices.
Additionally in 2021, 69 % of the corporate’s piano gross sales derived from Steinway & Sons, whereas over half of Conn-Selmer gross sales “had been generated by our most well-liked supplier community to varsities and households who take part in starting music teaching programs.”
Though 53.6 % of the enterprise’s 2021 gross sales resulted from clients within the Americas, towards 28.5 % for APAC and 17.9 % for EMEA, higher-ups emphasised the potential related to rising their firm’s reach in China.
The latter has “the world’s largest” piano market, per Steinway, “with a mean of round 400,000 pianos being bought a yr from 2017 to 2020, in comparison with a mean of round 30,000 per yr in the USA over the identical interval.”
“As China continues to develop and accumulate wealth, we are going to search to seize the rising demand for ultra-premium pianos by personal clients,” reads Steinway’s SEC submitting, noting additionally that the nation of 1.4 billion residents accounted for 28.7 % of piano gross sales within the 2021 fiscal yr.
Lastly, by way of the enterprise’s piano gross sales, the Steinway Spirio and subsequently launched Spirio | r (which include a “complimentary” iPad and iPad Professional, respectively) made up 32 % of the class in 2021, per the breakdown.
And amid skyrocketing home costs, execs indicated that they “usually count on demand for our merchandise to trace elevated exercise within the housing market, as shoppers usually tend to purchase Steinway pianos as they buy new and higher-end houses.”
On the chance entrance, Steinway acknowledged that every thing from pure disasters to an inherently lengthy manufacturing time (purportedly “an artisanal course of that takes not less than six months per piano”) might negatively have an effect on operations sooner or later.
