Avnet Memec today announced that its transformation into a dynamic, vertically aligned and customer focussed business has allowed it to double its major account base and triple its monthly sales over a five year period. It has also led to the signing of six new or extended distributor agreements in six months, with Renesas, Sierra, Microsemi, Leadtek, Echelon and Smarteq.
Commenting, Steve Haynes, President, Avnet Memec said, “By building expertise in fast growing market segments, we have more than doubled our base of major accounts from 400 to over 1000 in just five years. Customers value our ability to speak their language and contribute meaningfully to the design challenges that they face. As a result we’ve doubled our business from €104m in 2006 to €212m in 2010 and are currently running at a rate of €300m. As a result Avnet Memec has increased its market share by 42% from 2007 – 2011.”
Haynes continued, “In five years, Avnet Memec has been transformed as a company, into a business that is focussed on the vertical markets that present the best opportunities for our customers. Our Business Development Managers (BDMs) are now aligned to those market opportunities instead of our suppliers, and their industry expertise and technical know-how is accessible to our customers. We believe we have the industry’s strongest technical team, with one technical BDM / FAE for every commercial FSE, and they spend more of their time in front of customers than ever before.”
In the last six months, Avnet Memec has extended its relationship with Microsemi for power, RF, analogue and mixed-signal devices, Renesas for industrial automation products and Sierra embedded wireless modules. It has also extended its portfolio with Smarteq antennas for M2M and telematic solutions, Echelon’s market-leading line of energy control network products and Leadtek low power, compact global positioning systems (GPS) modules as well as products from Leadtek’s comprehensive computer multimedia, wireless communication, audio/video communication and telecare divisions.
Haynes pointed out, “Each of these new products are technical and specialist, and each addition is aligned to one or more of the vertical market segments that our customers are currently interested in. None of these are commodity products – each of these suppliers trusts us to take their products and make a market for them in Europe.”