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Alchemist hifi was formed in 1989. Their first product was the Genesis power amplifier, although in their short history they went on to produce both analogue (pre, power and integrated amplifiers, a tuner and a phono stage) and digital (CD players, transports and DACS) products.

Most analogue products were designed by founder Glen Gayle, whilst much of the digital side was taken care of by Chris Found of CF Media. Alchemist also released a "Signature" series, based on their original Forseti designs, but with modifications by hifi guru Tim de Paravicini.

All products were designed and built in the UK, excepting the cheaper "AA" series which, although designed in the UK, was built in the Far East to ensure the range's competitiveness.

However, in 2001 the company closed and the assets were sold off.