Kraus Cleans up at Surfaces Industry Award
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Newsletter Q1 2015 Clipper scoops Kraus cleans up at Surfaces industry award Following on from winning the Outstanding Customer Service Award at the Motor Boat Awards in January, Clipper Marine has secured another trophy for its expanding awards cabinet. This year’s Surfaces, the international flooring orders in excess of $5 million. industry convention held in Las Vegas, was the Garmin, the navigation most successful ever for Kraus Group. The company The new business generated at Surfaces equates to equipment company, presented achieved more sales in the first day than in the over 110,000 square yards of required production the Clipper team with the Motor entire four day show last year, ending the event with at Kraus’ carpet mill in Waterloo, Ontario. Boat Importer of the Year award at its Dealer Conference in March, in recognition of Clipper Award-winning HMV tops UK charts Marine’s outstanding sales. The British music industry recognised the success Fiona Keenan, Kantar Worldpanel’s Strategic Insight Costa calls in of the revitalised HMV by awarding it Best Retail Director for the entertainment sector, commented: bean counters Brand in the Music Week Awards for the second “HMV has been successful in attracting shoppers year running. The awards, which are decided by a in store that want to browse its extensive range judging panel comprising hundreds of senior music of products before deciding what to buy, which industry executives, historically was a real Whitbread Plc appointed Hilco saw HMV beat Amazon, area of strength for the Profit Recovery to conduct full Google Play, iTunes and high street specialist. accounts payable and property Rough Trade to the top reviews of its market leading spot. “Spend from consumers Costa coffee shop business. browsing for music HMV also hit the headlines as research firm Kantar products in HMV has grown by almost 50% The property review will Worldpanel published figures for the first quarter of compared to this time last year, helping to boost the encompass rates valuations and 2015 showing that HMV had overtaken Amazon to retailer’s share of total browsed spend in the market service charge reviews across reclaim its crown as Britain’s biggest music retailer. to 43.4%, making it the standout player.” Costa’s 1,500 locations. www.hilcocapital.com Newsletter Hilco team runs Buoyant first quarter for Oceans Pleasure Park sold Homebase closures of barbecues, coolers, fire pits, heaters and stoneware. The company has also made significant improvements to its ecommerce website over the past few months, which has resulted in many more customers transacting online. Hilco Property completed the Homebase called on Hilco to sale of the four acre Barry Island operate closure sales at three To browse Oceans’ range of Pleasure Park site to leading of its stores in January. The outdoor products, visit funfair operator Henry Danter at closures form part of the ongoing Oceans Rattan Furniture, the oceansrattanfurniture.com the end of the first quarter. restructuring of the Homebase premium outdoor furniture store estate. specialist, enjoyed a storming Readers of the Hilco Capital The veteran fairground specialist, start to 2015 with sales up Newsletter can obtain a further whose other sites include Hilco’s team took full operational 20% year-on-year, driven in 10% off web prices by entering Treasure Island in Stourport, responsibility for the Minworth, part by the introduction of the discount code HVDISC10 on was the star of the Fairground Boston and Willesden stores, new complementary ranges the checkout page. Attractions TV series in 2011. maximising the value of the closure process by running a high impact sale. New funding to fuel Denby’s growth Much fanfare for HMV event lending structure, Hilco appointed PNC responded to this on Bank job challenge and was able to provide a size and scale of facility that recognised the quality of the business, its management and its investors. Hilco secured new funding for HMV Canada once again hosted Hilco’s retail team was appointed Denby Pottery through PNC Steve Buckmaster of PNC the JUNO Fan Fare in March. The by Deloitte to assist with the Business Credit. With a strong Business Credit commented: perennially popular event brings operation of young fashion sales record and exceptional “With expansion comes the need JUNO award nominees face- retailer Bank’s stores during the growth in its export markets, for a facility structured to fulfil to-face with fans, letting 1,000 company’s administration. Denby and Hilco were looking for ongoing requirements. Denby Canadian music lovers meet the a debt structure that was more is an iconic British brand, with country’s biggest artists. Additionally, Hilco Wholesale closely aligned to the company’s growing overseas reach. We provided an additional £9.5 asset base, cash flow projections look forward to working with This year’s lineup included million of premium, branded and future aspirations. its management and investors Platinum-selling singer Kiesza, stock in order to maximise in continuing to build Denby’s EDM stars Zeds Dead and teen recoveries to the administration. Utilising an asset based formidable reputation.” heartthrob Shawn Mendes. 2 Hilco Capital Newsletter Q1 2015 www.hilcocapital.com Newsletter Viners workout Century-old design wins innovation award completed The Middleport Pottery visitor attraction has already The workout of the remaining won several awards, most recently scooping a inventory and assets of PCS Europa Nostra Award, Europe’s most prestigious Brands Limited was completed heritage prize. by Hilco’s Retail Agents team in the first quarter. The team was Burleigh, which is part of the Denby group, was engaged by KPMG to operate itself the recipient of a prestigious award for its the store closure and stock Regal Peacock design (pictured, left). The pattern, wholesaling processes. originally created in 1913, was honoured as Tabletop Innovation of the Year by industry leader Housewares Magazine. The Prince’s Regeneration Trust The first examples of this pattern (PRT) and Burleigh wowed the were presented to HM Queen crowds at this year’s Ideal Home Mary, who much admired the Show in March with the stunning design and, in keeping with Burleigh Grand Hall Tea Room tradition, a large jug decorated (pictured, above). The beautifully in Regal Peacock was also PCS Brands was a conglomerate appointed tea room provided a presented to HRH The Prince of of various homeware brands and showcase to promote the PRT’s hugely successful Wales when he visited Middleport Pottery, the home manufacturing facilities, including redevelopment of Burleigh’s Grade II listed of Burleigh, in 2013. Viners, George Wilkinson, Middleport Pottery home, together with Burleigh’s Samuel Groves, Mermaid, Long products which are all handmade at Middleport. Sebastian Lazell, CEO of Denby Holdings, Life and Le Buffet. The company commented: “This was the moment of inspiration also operated 31 stores and TV property guru Kirstie Allsopp, Ambassador for behind the rebirth of Regal Peacock. It was a concessions located in garden the PRT, said: “Middleport Pottery is a wonderful moment of symbolism, an antique design with a centres, Boundary Mill stores and example of English industrial heritage, and one of royal connection being presented to the future King. retail outlet villages in the UK and the few places where traditional handmade ceramic It seemed a good time to revive the design and the Netherlands. craftsmanship is kept alive.” share it with future generations.” Hilco Capital provided funding to the administration to allow the Administrators to continue Dublin’s new home of entertainment to trade certain parts of the business, including the retail HMV Ireland is set to relocate its Dublin flagship to music venue in the 60s, seeing acts such as The outlets and RTA wine racks the site of the former Grafton Picture House on the Dubliners play their debut gigs. division. As a consequence, going city’s famous Grafton Street. concern sales of the Samuel Converted to retail premises in the 1970s, the Groves and RTA divisions were The Arts and Crafts-style cinema first opened its historic building will finally see its return to being achieved, along with the sale of doors in 1911 and has a rich history in Ireland’s the home of entertainment on Grafton Street in June all plant and machinery from the entertainment industry, having introduced talking when HMV opens what is set to be one of its most George Wilkinson site and the pictures to Ireland in 1914 and evolved into a folk spectacular stores. sale of the Viners brand. www.hilcocapital.com Hilco Capital Newsletter Q1 2015 3 Newsletter Meet the CEO Steve Malinowski, Kraus Group NEWS In the first of a new series shining the spotlight on Hilco’s business leaders, we get to know Steve Malinowski, Chief Executive of Kraus Group. FROM ACROSS have it in them. At Kraus, when our product development team was challenged by one of our biggest customers to THE POND develop and sample 16 new products with a deadline of four weeks, the team members had a general feeling of defeat before they even started – it historically took them Hilco Global acquired Edinburgh- four weeks for each product. However, they came up with based online photo journal and new methods, worked a ton of nights and weekends, and social network, Blipfoto, in January. delivered the samples on time. We celebrated – not just The service has been rebranded as because we ended up with a huge new commitment from Polaroid Blipfoto, forming part of the customer – but because the team members amazed Hilco’s ongoing turnaround strategy themselves with their capability. for Polaroid, which it acquired with partners in 2009. What is the biggest strategic challenge to Where did you spend your formative years? overcome at Kraus? Hilco Receivables purchased As a good Canadian, I spent most of my formative years The economics in the flooring industry is an interesting the assets of Sagger Creek in ice hockey arenas in and around Toronto.