TIDMUPGS
UP Global Sourcing Holdings PLC
25 September 2023
25 September 2023
UP Global Sourcing Holdings plc
"Ultimate Products" or "the Group"
LAUNCH OF EUROPEAN SHOWROOM IN PARIS
Ultimate Products, the owner of a number of leading homeware
brands including Salter (the UK's oldest houseware brand, est.1760)
and Beldray (est.1872), is pleased to announce that it has opened a
new European showroom in Paris. A launch event was held on Thursday
21 September, where the ribbon was cut by retail tycoon Theo
Paphitis and Hajir Hajji, the CEO of Action, Europe's fastest
growing non-food discount retailer.
The new showroom is spread across a 16,500 sq. ft space at the
Homexpo Paris showroom complex, where the anchor tenant is JJA, one
of France's largest home furnishing suppliers. The site, which is
near Charles de Gaulle airport, is ideally located for hosting both
existing and prospective customers across France and Europe.
To support the showroom's activities, Ultimate Products has
appointed a new sales team in Paris, who join the Group's other
international sales teams in Germany and Poland. Previously, the
Group operated a Cologne showroom, which was hugely successful in
achieving traction and growth in Germany, a market that today
represents approximately 30% of the Group's European sales. The
Group's aim is to achieve a similar level of penetration within the
French market.
Ultimate Products currently derives approximately 30% of its
revenues from European countries (population: c.477 million), where
it has a much lower penetration than the UK ( population: c.67
million) . The Group sells GBP1.72 of product per capita in the UK
and around 80% of British households own at least one of the
Group's products.
Simon Showman, Chief Executive of Ultimate Products,
commented:
"I am massively excited to have opened a European showroom in
Paris, which I am confident will help us grow our presence in the
sizable French market. Our products are already present in most UK
households, and I firmly believe that they will be just as
attractive to retail partners and consumers in France, as well as
the wider European market more generally. I would like to extend a
warm welcome to our new team in Paris, who will be invaluable in
helping us to achieve our ambitious growth plans."
For more information, please contact:
Ultimate Products +44 (0) 161 627 1400
Simon Showman, CEO
Andrew Gossage, Managing Director
Chris Dent, Chief Financial Officer
Shore Capital +44 (0) 20 7408 4090
Mark Percy
Malachy McEntyre
David Coaten
Iain Sexton
Powerscourt +44 (0) 207 250 1446
Rob Greening
Sam Austrums
Oliver Banks
Notes to Editors
Ultimate Products is the owner of a number of leading homeware
brands including Salter (the UK's oldest houseware brand,
established in 1760) and Beldray (a laundry, floor care, heating
and cooling brand that was established in 1872). According to its
market research, nearly 80% of UK households own at least one of
the Group's products.
Ultimate Products sells to over 300 retailers across 38
countries, and specialises in five product categories: Small
Domestic Appliances; Housewares; Laundry; Audio; and Heating and
Cooling. Other brands include Progress (cookware and bakeware),
Kleeneze (laundry and floorcare), Petra (small domestic appliances)
and Intempo (audio).
The Group's products are sold to a broad cross-section of both
large national and international multi-channel retailers as well as
smaller national retail chains, incorporating discount retailers,
supermarkets, general retailers and online retailers.
Founded in 1997, Ultimate Products employs over 370 staff, a
significant number of whom have joined via the Group's graduate
development scheme, and is headquartered in Oldham, Greater
Manchester, where it has design, sales, marketing, buying, quality
assurance, support functions and warehouse facilities across two
sites. Manor Mill, the Group's head office, includes a spectacular
20,000 sq. ft showroom that showcases each of its brands. In
addition, the Group has an office and showroom in Guangzhou, China
and its recently opened showroom in Paris, France.
Please note that Ultimate Products is not the owner of Russell
Hobbs. The company currently has licence agreements in place
granting it an exclusive licence to use the "Russell Hobbs"
trademark for cookware (NB this does not include Russell Hobbs
electrical appliances).
For further information, please visit www.upgs.com
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END
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