Ultimate swims against tough retail tide
NORTH West sourcing business Ultimate Products has announced a 40% growth in its order books this year.
The Oldham-based company has also invested £200,000 on an expansion to its showroom. Ultimate, which is part-owned by private equity firm LDC, says its success is due to a new international contracts and deeper relationships with key UK customers.
Despite the challenging retail retail downturn, Ultimate has secured orders to the value of £25m since 1 January after securing international deals with major European and US retailers.
The firm is also benefiting from a dramatic increase in trade with the major supermarket chains and in the discount retail sector, where Ultimate is seen as a major non-food supplier.
Simon Showman, 35, said: “The key to our success has always been that we recruit experts to advise retailers around the world what their next ‘footfall-driving’ items will be – then we design and supply these faster and more cost effectively than our rivals, often even competing with retailers’ own in-house international sourcing operations.
“A number of very deliberate tactical moves over the last two years – including our acquisition of Active Asia last summer – has put us in the best position for 2009 and beyond. We’re also continuing to invest closer to home.”
He said many retail chief executives had visited the enlarged showroom to see Ultimate’s expanded product range.
