Discount household goods manufacturer and supplier, 151 Products, has secured a major African partnership and is aiming to double its exports by 2015.
The company has signed an agreement with a FMCG distributor covering South Africa, Kenya, Zambia and Zimbabwe, which is expected to be worth around £1m in its first year and should aid growth considerably across the continent as a whole.
Based in Ancoats, Manchester, the discount retail supplier already exports to Europe, the Middle East and Africa, and counts Nigeria, Cyprus and Poland as key foreign markets.
Richard Shonn, managing director of 151 Products, said: “In 2005, we set ourselves a goal of securing 25 export markets by 2013. This latest deal means we have achieved that target and as a result it signifies a key milestone for us. We’re delighted with the progress and are now even more driven to reach our other growth targets.”
The new market win confirms the rising worldwide demand for high quality, low-cost everyday products in a weak global economic climate, said 151 Products. With seven brand categories and over 2,000 products for the home, car and garden, 151 Products provides price-conscious retailers with items that are created in-house and proven to be as good as, if not better than, the brand leaders.
Shonn said: “Retailers and consumers alike are driving the price of necessities down and squeezing manufacturers harder, which has created increased demand for 151 Products’ offerings around the world.”
151 Products was launched in 1997 by father and son, Steven and Richard Shonn. Last year, turnover increased from £24m to £29m. The company hopes to reach a turnover of £35m in 2012.
It supplies a number of well-known retailers throughout the UK, including popular discount stores Home Bargains, Poundland and B&M Bargains.