With one towel, a host of imported gadgety stuff and twelve months of realising we weren't the only one's selling "off the shelf" products from China we went back to the drawing board in a bid to define a new strategy. After several beers - at the time it was a pre-requisite of all board meetings that they be held in a pub - we hit on our DCA (Defensible Competitive Advantage). We summed this up in our strapline "Great Brands Brought to Life". We also decided to focus on the toy market, which we found out was worth about $80billion in sales worldwide and seemed a natural fit with our teams mental ages. Plus it has a history of resilience in a recession. Umm, could be handy. But what probably drove us more than any other thing was our resolute desire to create toys that stood-out from the traditional and expected.
We want kids and their families to experience that surge of excitement you get when you see something new and wonderful for the first time. We want to create toys with the "Wow Factor". To show our customers how wow they are we created The Demonstration Academy.
Along the way we bought a video technology company to demonstrate our Stuff on the web and on in-store video screens here and abroad. Nowadays we do all sorts of fancy things with in-store webcams to better understand consumer behaviour and why people like and buy our Stuff. For the first 5 years we sold our Stuff in the UK only but in 2011 we decided to travel to other countries and found that they also liked our Stuff.
We have since had investment from BGF (Business Growth Fund), our ceo has gone on multiple national TV shows (which hasn’t boosted his ego at all) and we’ve won a whole host of awards celebrating our innovation as a company and our amazing products, if we do say so ourselves. Because of all of this and many other factors we have now been able to sell our products worldwide, build market leading brands, work with the biggest toy companies in the world and set up our own operations in the far east, and it all started with a towel, not bad aye!