A 200-12 months-aged English pottery has observed its brand name increased in South Korea many thanks to the lockdown hit Squid Match.
Denby Pottery, named after the Derbyshire village exactly where it was set up by Joseph Bourne in 1809, has been steadily growing its enterprise in Asia. It is now on sale with a noted £50m valuation, and seeking new investors to extend at any time even further.
Launched on a rich seam of clay through the making of a primary road serving mills in between Alfreton and Derby, the model is now ploughing a loaded new seam of prospects, specially in China and India.
Due to the fact Denby’s Halo cup featured in an episode of the Netflix clearly show, the firm’s acceptance has greater even more in South Korea, in which it has a retail outlet in Gangnam, a district of Seoul designed well known in the 2012 pop track Gangnam Design.
Back again in the 1970s, Denby had 3 bowls in its vary. Now it has 40, with things such as nesting pots, straight-sided rice and deep ramen noodle bowls, smaller spherical dishes as well as soju cups in which to provide Korean alcohol.
In 2009 the firm was rescued from administration by the investment company Hilco Money, a turnaround professional that has assisted businesses including Homebase, Habitat and HMV. Hilco has appointed finnCap to recommend on the sale.
Sebastian Lazell, the Denby chief govt, informed the Instances: “There are 55 million men and women in South Korea and they adore the premium informal appear of our glazes because formal ornate ware is out of fashion. They lay the desk quite in different ways in Korea so virtually 40% of our creation around there is bowls.”
Vikki Irvine, a senior manufacturer manager at the pottery, additional: “Our collections are well-known with youthful generations in Korea. It is also a go absent from the traditional tableware their mom and dad owned, as we see a shift in the Korean society for the younger technology to have their individual identity.”
Lazell mentioned Hilco was delighted at the sustained development of its investment and was eager to make sure that the beneficial trajectory carries on. “Denby Pottery, our traders and advisers are, as a result, examining options for the potential ownership of the Denby Team, most likely involving the guidance of investors improved suited to the more and more global demands of the business enterprise in the decades in advance.”
He added: “No selections have been taken at this time and any opportunity long run conclusion will be taken with the passions of the company’s stakeholders often in brain.”