We’re enormously proud and gratified that in acquiring Joytech from Take 2, we have managed to keep all UK members of the Joytech team and relocate them to our European HQ in Milton Keynes.
There have been no redundancies at all, which is testament to the dedication of the Joytech team. They are anxious to continue making quality and innovative video game peripherals. We have always considered the Joytech staff to be a core asset of the company and are delighted to welcome them all to the Mad Catz team.
Adding the Joytech team to Mad Catz means that we now have a group with one of the most mature and well developed skill sets in the video games industry. We’re very excited and confident that together we can accomplish great things.
How do you think the two brands can work together?
I think Joytech is a natural choice to sit alongside the Mad Catz brand. Our companies are actually very similar in a number of ways. Mad Catz are the established leaders in North America whereas Joytech has always been strong across Europe. And we both stand for core values of quality, design and value.
Importantly Joytech ran its in-house product development from the UK whereas until now we had no local development. We are well aware that different territories require a different approach. This is not a ‘one size fits all’ business and European product development opens up new and exciting opportunities for us. Not every retail outlet is the same, not all buyers are the same and certainly not all consumers are the same.
Having a dual brand strategy allows us to show real point of difference to retailers, buyers and consumers alike.
Having in-house marketing is also something that we are confident will prove successful. We believe our products are amongst the best designed in the industry and we look forward to utilising PR and marketing to increase brand recognition on a global scale.
As Mad Catz grows, so too will our range of products and we can then begin to expand and diversify. The acquisition of Joytech and its staff gives us the resources we need to expand.
What is the thinking behind keeping the brands separate?
The short-sighted move in this acquisition would be to simply merge the brands and close down the Joytech name. We are strong believers however that in doing so does both brands a strong disservice. The Joytech brand is well established and performs strongly at retail with many products in the range not mirrored by a Mad Catz alternative and vice versa. It makes good business sense to allow each a chance to further prosper.
Do you think that the two businesses combined can go on to dominate the peripherals market?
I’m not certain that any company should ever aspire to dominate. To do so suggests a monopoly and decreased choice for the consumer; however, if you’re asking whether or not we can emerge as a leader in our field, then I would say without hesitation that we’re extremely confident about our products, our people, our place in the market and our future plans.
Ultimately the consumer decides how successful you are and we vow to never let complacency reign. We will continue doing what we do best, offering exciting high concept accessories that represent the very highest levels of quality, design and value and look forward to sharing our future plans with MCV soon.