Inspecs win The Queen’s Award for Enterprise
Inspecs Group plc, a Bath-based designer, manufacturer and distributor of eyewear frames to global retailers, is delighted to announce that it has won the Queen's Award for Enterprise: International Trade for Outstanding Short-Term Growth in overseas sales over the last three years. This is the second time the Company has won this award, which is an outstanding achievement for the South-West based business of 1,300 employees globally, of which 55 are based at the Bath headquarters. This has already been a monumental start to the year, following the Company’s successful IPO on the London Stock Exchange’s AIM in February.
The Queen’s Awards for Enterprise are the most prestigious awards for UK businesses, recognising and celebrating business excellence across the UK. Winning the award for International Trade for the second time highlights the Group’s global network and its vision of providing the highest standard of design and manufacturing of eyewear products to consumers across the globe.
Inspecs is one of the few global companies that produces large volume, high quality eyewear in house. The Company boasts operations in the UK, Portugal, Scandinavia, the US and China (including Hong Kong, Macau and Shenzhen) and owned manufacturing facilities in Vietnam, China, London and Italy. In addition, Inspecs exports to over 80 countries in 5 continents through a network of distributors, direct supply and subsidiaries, with its top four international markets being the USA, Germany, France and the Netherlands.
Over the past three years, overseas sales have grown from annual sales of £14.2m to £38.1m, a total growth of 168.3%.
Inspecs will receive its prestigious award at a celebratory reception to be held at Buckingham Palace this Summer, where a member of the Royal Family will be present.
The Company first won this award in 2007 and has also been recognised for its strong growth and profitability by The Sunday Times BDO Profit Track 100 One’s to Watch as an overall Winner in 2019.
Robin Totterman, CEO and Founder, said:
“I am absolutely thrilled that Inspecs has won the Queen’s Award for Enterprise: International Trade once again, an amazing achievement considering we started the business out of my railway cottage in Battersea in 1988. Today we are celebrating the Company’s success as a global business”.
“This award acknowledges our stellar international growth whilst cementing our vision to provide the highest standard of design and manufacturing of eyewear products to consumers across the globe. I wish to thank the Queen’s Award panel for recognising us, as well as our great team, who have been instrumental in building such a successful business.”
Inspecs is a designer, manufacturer and distributor of eyewear frames based in Bath, with 55 employees in their headquarters. The Group produces a broad range of frames, covering optical, sunglasses and safety, which are either “Branded” (either under licence or under the Group’s own proprietary brands), or “OEM” (including private label on behalf of retail customers). As one of only a few companies that can offer this one-stop-shop solution to global retail chains, Inspecs is well positioned to continue to take market share in the globally expanding eyewear market.
Inspecs customers include global optical and non-optical retailers, global distributors and independent opticians, with its distribution network covering over 80 countries and reaching approximately 30,000 points of sale. In FY18, the Group generated 13.6% of its revenue in the UK and 86.4% internationally.
Today Inspecs has operations across the globe, with offices in the UK, Portugal, Scandinavia, the US and China), and manufacturing facilities in Vietnam, China, London and more recently, Italy.
The Group’s growth strategy going forward is to: (i) undertake further acquisitions (and drive value through leveraging the Group’s internal capabilities, (ii) continue to grow organically and (iii) extend the Group’s manufacturing capacity in Vietnam and Europe.
More information is available at: https://inspecs.com