Classic Stereo & Video, based here, has joined the Home Theater Specialists of America (HTSA) buying group effective May 1.
The longtime PRO Group dealer became HTSA's 58th member. (For coverage of the PRO Group meeting, see p. 98.)
Classic president Dan Johnson said the new affiliation provides a “better fit” for the company, given HTSA's strong emphasis on custom installation and hybrid retailing.
“We at Classic Stereo & Video are very excited about the new relationship we are beginning with HTSA,” said co-principal John Higgs. “We believe that the custom/retail channel we operate in the west Michigan markets will be better served by the strategic alliance of vendors and members that HTSA represents. With the business dynamics of today's market, we feel that HTSA will be an excellent fit for our business model.”
Classic Stereo was founded in 1982 by two former employees of the now defunct Sound Room. Higgs joined the company in 1985, and was joined one year later by future co-principal Johnson. Quickly working his way up through the ranks, Johnson became a partner in the business in 1991, and the sole owner in 1992. By 1998, Higgs became Johnson's partner and VP, and on May 1 of this year will buy out Johnson's share of the company and assume the position of sole owner and president.
Among its many accolades, Classic Stereo & Video was named Business of the Year by the west Michigan Better Business Bureau in 1996, and since 1992 has donated in excess of 10 percent of its corporate profits to charitable organizations such as Habitat for Humanity, Big Brothers and Big Sisters, and the Ronald McDonald House. Additionally, the dealer's annual charity golf tournament, the Classic Invitational, is the largest annual event for the west Michigan chapter of the Special Olympics, and is expected to bring in over $200,000 in donations this year.
Commented Richard Glikes, HTSA's executive director: “Water seeks its own level, so too with buying groups. Classic is a perfect fit for our fine entity. Both companies will benefit from our sharing of ideas and information, our middle management meetings, and the sincere focus on our valued vendor partnerships. John Higgs is a great guy, and now it is his opportunity to shine.”