Sheffield homeware business eyes £3.5m turnover after expanding product range

IC Innovations, the Sheffield-based homeware firm, is set to hit the £3.5m turnover mark after expanding its product ranges to include key seasonal events.

Supported with new investment from Finance Yorkshire, the company supplies garden, kitchen and gift products to high street multiples, major supermarkets and independent retailers.

A £50k Business Loan from Finance Yorkshire is providing IC Innovations with additional working capital to fund large orders from customers preparing for Christmas 2016.

Founded in 2005 by Tristan Cowell, IC Innovations initially supplied Christmas stock, but now the company has added Valentines Day, Mother’s Day and Father’s Day ranges to its product portfolio.

In 2014, a funding package which included £50k from Finance Yorkshire enabled iC Innovations to purchase a three-storey office building in Sheffield city centre.

Employing 25 people, IC Innovations is projecting a turnover of £3.5m in 2016-2017, up £1.5m on the previous year.

Alex McWhirter, chief executive of Finance Yorkshire, said: “Our early investment in IC Innovations gave the business the platform from which to grow and achieve its position today as an established business in Yorkshire which has created jobs and continues to trade strongly.”

Tristan commented: “Moving into seasonal events, not just Christmas, has enabled us to extend our product range to new and existing customers who like the stability of the business in that we have bought our own building and have strength in the balance sheet.”

Another development for IC Innovations has been the move into branded licensing which has seen deals with BBC Gardeners’ World and BBC Good Food among other major contracts.

Tristan added: “This enables us to design products in partnership with successful brands which in turn helps drive sales through our customers. It also opens up huge export potential of well known, recognisable British brands to markets in the Far East and the US.”

Melanie Reynolds, portfolio executive at Finance Yorkshire, concluded: “IC Innovations is a great success story built on entrepreneurial spirit and the drive to be innovative in its product offer to a broad range of retailers.

“The cross-selling of products to clients and the potential to export bode well for Tristan and his team.”

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