Research report 2019 - Fast Track
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TENTH YEAR
Research report 2019
Britain's 200 mid-market private companies
with the fastest-growing international sales
@ST_FastTrack
#IntTrack200
years
10 2009-2019
Title sponsor Main sponsors
International Track 200 research report 2019 i
CONTENTS
INTRODUCTION 1
Top 10 International Track 200 companies
EXECUTIVE SUMMARY 2
International sales
Key themes
KEY STATISTICS 3
International sales
Overseas markets 4
Sector breakdown 5
Industry breakdown
Regional breakdown 6
Job creation
Foundation dates
Ownership 7
External capital
Brexit 8
TEN YEARS OF INTERNATIONAL TRACK 200 9
Stock market flotations
Acquisitions
The first International Track 10
Failures
Sector changes
Alumni companies 11
KEY THEMES & SELECTED COMPANY PROFILES 13
Trading in Europe
Trading outside the EU 14
Focus: China 15
Focus: Africa 16
Ecommerce 17
Product innovation 18
Expansion through technology 19
Growth by acquisition 20
Female founders & leaders 21
British brands 22
2019 INTERNATIONAL TRACK 200 LEAGUE TABLE 23
METHODOLOGY 31
SUPPORTERS 32
Media partner
Sponsors 33
ABOUT FAST TRACK 34
Compiler & publisher
The authors
Fast Track 35
CONTACT DETAILS 35
© 2019 International Track 200 fasttrack.co.uk
International Track 200 research report 2019 1
INTRODUCTION
This is the 10th year of The Sunday Times HSBC International
Track 200, the league table of Britain’s mid-market private
companies with the fastest-growing international sales. HSBC is
the title sponsor of the league table, and DHL Express and Oracle
NetSuite are main sponsors.
The International Track 200 ranks the 200 mid-market companies
(total sales of £25m+) based on their growth in international sales
over the last two years of available data; whereas our SME Export
Track 100 ranks companies with sales of less than £25m. However,
available data on international sales have limitations [page 31].
Despite the backdrop of continuing Brexit-related uncertainty, the
growth rate of this year's 200th company at 31%, almost double
that of two years ago, is the highest in the league table's history,
This year's No 1 company is fitness clothing retailer Gymshark,
founded in 2012 by Ben Francis in his parents' garage. Its 13
demonstrating the continued resilience of British companies
multilingual websites sell to customers in 178 countries trading overseas.
The average international sales growth over the last two years
for the 200 companies was 69% a year, to a total of £14.1bn on
combined total sales of £30.9bn. They export to all corners of
the globe and employ 140,000 staff, having added 38,000 jobs
over the same period.
Featured companies include fitness clothing retailer Gymshark
(No 1), beauty product retailer Charlotte Tilbury Beauty (No 60),
theatre operator Ambassador Theatre Group (No 88), and brewery
Brewdog (No 168).
Top 10 companies on the league table
Rank Annual int'l Latest Latest
2019 Company sales growth int'l sales total sales
[2018] Activity HQ location FYE over 2 yrs§ £000 £000 Staff Founded Comment
1 Gymshark Queues for its Paris, LA and Toronto pop-up
Solihull Jul 18 228.06% *80,958 *103,232 260 2012
[16] Fitness clothing retailer shops stretched around street corners
2 Cult Beauty Sells cult and up-and-coming beauty
Central London May 18 206.58% *35,337 *69,685 108 2008
[3] Online beauty retailer brands from around the world
3 White Light Designed Discovery Eurosport's TV studios
Southwest London Mar 18 198.42% 12,613 39,311 226 1971
[6] Entertainment production supplier for the 2018 Winter Olympics in South Korea
4 MiQ Operates globally from 15 offices in North
Central London Dec 17 174.74% 121,871 155,876 410 2010
[10] Digital marketing agency America, Europe and Asia Pacific
5 iPulse Exports to more than 30 countries accounted
Swansea Dec 17 167.26% 30,945 32,874 39 2002
[8] Hair removal technology for 94% of turnover in 2017
Saville Group Installs video conferencing technology in
6 York Dec 17 166.04% 3,993 42,145 257 1876
Audiovisual equipment supplier overseas offices of UK-based clients
High Street TV Sells household goods and gifts to more
7 Harrogate Dec 18 164.72% *16,279 *66,899 115 2008
TV shopping channel than 80 countries
8 Carrs Foods Supplies European bakery products to
Manchester Dec 17 158.73% 18,991 49,430 23 1986
[9] Bakery products provider more than 10,000 stores around the world
Crep Protect Has collaborated with the National
9 West London Feb 18 151.80% 20,192 27,001 25 2012
Footwear accessories developer Basketball Association in the US
10 Opus Talent Solutions Its international clients include Uber, Burberry
Bristol Dec 17 151.64% 26,101 75,951 239 2008
[14] Recruitment consultancy and General Electric
§ compound annual growth rate between 2015/16 and 2017/18 * supplied by company
© 2019 International Track 200 fasttrack.co.uk
2 International Track 200 research report 2019
Growth in international sales EXECUTIVE SUMMARY
>200% 2
Overview
• This year’s International Track 200 companies increased their
150-200% 8 overseas sales by an average of 69% a year over two years,
from a total of £6bn to £14.1bn
100-150% 18
• 86% of the companies (171) sell to mainland Europe, making it
50-100% 102 the most popular market, followed by North America (128) and
Asia (73)
25-50% 70
• The top countries for overseas sales are the US (124 companies),
Germany (88), France (65), Ireland (47), the Netherlands (45),
No. of companies in each range of compound annual China (44) and Australia (44)
growth rate of international sales over latest 2 years
• There are 82 manufacturers, and 56 of these make products in
the UK
• Consumer goods is the largest industry (43 companies),
followed by technology, media and telecoms (TMT) (39),
Characteristics of a typical International Track 200 company business services (34) and food and drink (24)
International sales
Key themes
Average growth over two years 69% pa Trading in Europe: Mainland Europe is the most popular region for
International sales in 2016-18 £70.5m overseas sales, and a major market for 171 companies [page 13]
International sales in 2015-16 £30.2m
Trading outside the EU: North America (128) and Asia (73) are the
most popular regions outside the EU for international sales [page 14]
Total sales
Sales in 2017-18 £154.4m Focus: China: More than a third of companies (77) consider
Sales in 2015-16 £97.0m it a main or key future market, making the country the second most
important source of future overseas sales after the US [page 15]
Staff
Focus: Africa: 14 companies are targeting Africa, including
Typical number of staff in 2016-18 50-1,000
developing markets such as Botswana and Ghana [page 16]
Typical increase in staff over two years 25%
Ecommerce: Excelling at online trade has proved transformative for
Company characteristics many retailers with 34 ecommerce goods exporters featuring [page 17]
Region London & southeast (110)
Sector Services (93)
Product innovation: 70 companies attribute their international
Founded 1996
sales growth to investment in new products and R&D [page 18]
Majority ownership Entrepreneur and/or
founder (99) Expansion through technology: International Track 200
PE/VC, angel or corporate investment 73 companies are investing in new technology to help manage their
overseas growth and access new markets [page 19]
Growth by acquisition: 57 companies have bought or partnered
with other businesses to expand internationally, down slightly on
2018 (60 firms), but up on 2017 (46 firms) [page 20]
Female founders & leaders: A sixth of league table companies
(34) are founded or co-founded by women, or have a woman in a
main leadership role [page 21]
Brand Britain: Some of Britain’s most recognisable brands are
successfully growing their overseas sales, with BrewDog, Charlotte
Tilbury and Grenade all making this year’s table [page 22]
© 2019 International Track 200 fasttrack.co.uk
International Track 200 research report 2019 3
KEY STATISTICS
International sales
• Companies on the league table are required to have total sales
greater than £25m, and have international sales greater than
£1m, and to be profitable
• The top-ranked company is fitness clothing retailer Gymshark,
headquartered in Solihull. It grew international sales 228% a
year, from £7.5m in 2016 to £81m in 2018
Alexia Inge co-founded Cult Beauty (No 2) in 2008. Its website • International sales at the 200th ranked company, pet food
sells beauty products to Europe and the Middle East, generating
exports of £35m last year producer MPM Products, grew an average of 31% a year, from
£21.2m in 2015 to £36.2m in 2017
• 28 companies had triple-digit growth in international sales,
including online beauty retailer Cult Beauty (No 2), whose
international sales rose an average of 207% a year, from
Latest total sales £3.8m in 2016 to £35.3m in 2018; and High Street TV (No 7),
which grew overseas sales an average of 165% a year, from
£2.3m in 2016 to £16.3m in 2018
>£100m 53
• Online bookmaker bet365 (No 180) had the highest international
£75-100m 17 sales on the table, at £2.1bn in 2018. It also recorded the biggest
absolute increase in international sales, at £945.3m
£50-75m 52
• Combined international sales of the 200 companies were
£14.1bn and total sales were £30.9bn
£25-50m 78
• Average operating profits were £11.4m. The company with the
highest profit margin is dispute resolution consultancy Blackrock
Number of companies in each range Expert Services (No 162), which made an operating profit of
£10.6m on total sales of £29.7m in 2017 (a margin of 36%)
Latest international sales Companies with the largest international sales
>£100m 24 Company Int'l sales
Rank FYE
Activity £m
£75m-£100m 12 bet365
180 Mar 18 2,054
Online bookmaker
£50m-£75m 15 Pentland Group
192 Dec 17 1,402
Brand manager and retailer
£25m-£50m 49 Collinson
167 Apr 18 674
Benefits and loyalty provider
£10m-£25m 58 Mace
53 Dec 17 665
Construction project manager
£1m-£10m 42 The Hut Group
63 Dec 17 513
Online retailer
Number of companies in each range
© 2019 International Track 200 fasttrack.co.uk
4 International Track 200 research report 2019
Overseas markets
• 86% of the companies (171) sell to mainland Europe, making it
the most popular market, followed by North America (128) and
Asia (73), including 44 in China
• 69% (137) intend to expand sales to Europe in the future, with
North America (120) the next most popular potential market
for growth, followed by Asia (98)
• More than half the companies (114) focus their sales on one
or two continents. 18 companies have key markets spread
China is a main overseas market for 44 companies, with 63 saying across four or more continents. For example, CDE Global
it is a top future market (see p.15) (No 169) sells its industrial processing machinery in Europe, the
Americas, the Middle East, and Australia, and recently invested
in a new US headquarters in Texas
• The top countries for overseas sales are the US (124), Germany
(88), France (65), Ireland (47), the Netherlands (45), and China
and Australia (44 each)
• 80 companies export to or operate in emerging markets†, such
as online retailer The Hut Group (No 63), which makes more than
10% of its £736m sales in China
• The top countries identified by the companies for future
international expansion are the US (109 companies), China (63),
Germany (62), France (38), Australia (35) and Ireland (25)
† Emerging markets as defined by the FTSE list of emerging countries
Main markets of the International Track 200 companies*
171
128 EUROPE
NORTH AMERICA
73
ASIA
31
14
MIDDLE EAST
AFRICA
8
SOUTH AMERICA
48
AUSTRALASIA
* map shows the number of companies selling to each market
© 2019 International Track 200 fasttrack.co.uk
International Track 200 research report 2019 5
Sector breakdown Sector breakdown
Construction
The International Track 200 companies operate in a range of
5 sectors, and, due to the breadth of their activities, 71 companies are
considered to operate across two sectors. Sports nutrition brand BULK
POWDERS (No 80), for example, is both a manufacturer and a retailer.
The largest sectors are services (93 companies) and manufacturing
Services
(82, including some firms that outsource their manufacturing to
Manufacturing
93 third parties).
82
• Services (93) encompasses a wide range of industries,
and includes media firms such as events organiser FIRST
(No 122); recruiters, like Phaidon International (No 152);
and consultancies such as Oxford Economics (No 93), which
Retail provides economic research
Wholesale
58 33
• Manufacturers (82), including those that outsource to third
parties, are represented by snack maker Cofresh Snacks (No 77),
safety device manufacturer Brigade Electronics (No 171), and hair
removal technology firm iPulse (No 5)
Note: companies can operate in more than one sector
• Wholesalers (58) comprise consumer goods suppliers such
as lifestyle products wholesaler Thumbs Up (No 23), and food
distributors like baked products provider Carrs Foods (No 8)
• Retailers (33) include companies that trade overseas through
online channels, such as fitness clothing retailer Gymshark
Industry breakdown (No 1) and sports goods retailer retailer Sigma Sports (No 15).
Others, such as maternity and babywear retailer JoJo Maman
Bébé (No 135), have opened physical stores overseas
• Construction (5) includes companies such as construction
43 Consumer goods project manager Mace (No 53), which is working on the
expansion of Auckland Airport
Industry breakdown
39 TMT
• Consumer goods (43) is the most represented industry, with
firms such as Charlotte Tilbury (No 60), which sells high-end
beauty products, and online menswear retailer END. (No 68)
Consumer goods accounts for combined international sales of
34 Business services £3.5bn and employs 41,200 people
• TMT (39) includes IT consultancies and suppliers, such as
Techbuyer (No 102) and Teneo (No 106); and media agencies like
Ptarmigan Media (No 145) and MNC (No 85)
24 Food and drink
TMT accounts for combined international sales of £2.1bn and
employs 11,400 people
14 Building
• Business services firms (34) also perform strongly, and
13 Engineering include outsourced office supplier The Instant Group
(No 27), and recruitment consultancies such as Oliver James
8 Finance Associates (No 45)
7 Automotive Business services accounts for combined overseas sales of
£2bn and employs 24,500 people
18 Other
© 2019 International Track 200 fasttrack.co.uk
6 International Track 200 research report 2019
Regional breakdown of headquarters Regional breakdown
Scotland
The region with the highest number of companies is London with
68 firms (34%), up one from last year. The next highest is the
6
Southeast with 42 (21%), compared to 47 last year.
Northwest • 21 companies (11%) are headquartered in the Northwest,
including Manchester-based components supplier Arlington
21
Industries Group (No 27)
N. Ireland Northeast • 20 (10%) are based in the Northeast, including
3
20 Northumberland drinks manufacturer Fentimans (No 174);
Midlands
this region has also seen the biggest increase, up from eight
companies in 2018
16
Wales • 16 companies (8%) are located in the Midlands, including
5 Stafford-based cashback website TopCashback (No 141)
6
East • 13 (7%) are based in the Southwest, including Bristol-based
tour operator InsideAsia Tours (No 150)
13
London
The regions with the lowest representation are: the East of
Southwest 42 68 England and Scotland, with six each, followed by Wales with five;
and Northern Ireland, with three.
Southeast
Job creation
• The 200 companies directly employ 140,000 people, a 32%
increase on last year's figure of 106,000. Typical staff numbers
range between 50-1,000. Pentland Group (No 192) is the
Number of employees largest employer on the league table with more than 20,800
staff on the payroll
>=2,000 15 • The smallest employers are generally wholesalers, such as
Cheltenham-based wine supplier Off-Piste Wines (No 94),
1,000-1,999 10
which has 21 staff. 19 of the companies on the league table
employ fewer than 50 people
500-999 24
• The league table companies have increased total staff
250-499 35 numbers by 38,000 over the past two years. Online retailer
The Hut Group (No 63) is among the companies that have
100-249 68 created new jobs, adding almost 1,500 employees to its payroll
last year, partly as a result of acquisitions.
50-99 29
International Track 200 research report 2019 7
Ownership
• Almost half of the companies (99) are majority-owned by
an entrepreneur and/or founders, such as Reading-based
technology distributor Westcoast (No 82), which is entirely
owned by founder and chairman Joe Hemani
• 45 companies are majority-owned by private equity firms,
compared to 37 last year. These include orthopaedic parts
maker Corin Orthopaedics (No 118), which sold a majority
stake to Permira in June last year for an undisclosed sum
School uniform supplier Trutex (No 160), founded in 1865, is • 28 companies are family-owned, i.e. they remain owned
owned by its management team following a 2014 buyout from by the founder's offspring or other relatives. An example
private equity firm Endless
is motorsports retailer Demon Tweeks (No 78) which was
founded in 1971 by the father of current managing director,
Jon Minshaw
• Management owns a majority stake in 24 companies,
Majority ownership type including school uniform supplier Trutex (No 160), whose
management team bought the business from private equity
Entrepreneur and/
firm Endless in 2014
99
or founder
External capital
PE and/or VC 45
More than one-third of companies (73) have secured equity
Family 28 investment from private equity, business angels or corporations, a
22% increase on last year's figure (60).
Management 24
• In addition to the 45 companies majority-owned by private
Business angels 3
equity firms, a further 18 have received minority investment
from private equity. Among these is waste management provider
Employees 1 Recycling Lives (No 125), which secured £50m from Three Hills
Capital Partners in 2018
• Business angels have made equity investments in five
Number of companies in each range companies, including hair removal technology firm iPulse
(No 5), which has received investment from early Betfair
investor Richard Koch and BGF chairman Sir Nigel Rudd
• Five companies have also received backing from corporate
investors, such as pet food manufacturer Natures Menu
(No 95), which sold a non-controlling 50% stake to Spanish pet
care company Affinity in 2017
© 2019 International Track 200 fasttrack.co.uk
8 International Track 200 research report 2019
Brexit
Fast Track conducted a survey during the research period
(August – December 2018) asking the companies about the overall
impact the Brexit vote has had on their business. This is the third
time that the survey has been conducted (see below for trends).
Of the 170 respondents this year (85% response rate):
• The majority (57%, down from 62% last year) said the vote has
had no, or a neutral, impact on their business
• 34%, up from 29%, said the vote has had a negative effect on
their business, due to factors such as increased import costs for
raw materials, difficulties hiring and retaining European staff and,
above all, the uncertainty surrounding the terms of the UK's exit
• 9%, the same figure as last year, said the vote has had a
positive influence on their business. For example, the weak
pound has boosted exports for some manufacturers
Trends over three surveys on the overall impact of Brexit on
International Track 200 companies*
Negative Neutral/no impact Positive
70%
60
50
40
30
20
10
2017 2018 2019
League table year
*In response to the question: "What overall impact has the Brexit issue had on your business?"
© 2019 International Track 200 fasttrack.co.ukInternational Track 200 research report 2019 9
TEN YEARS OF INTERNATIONAL TRACK 200
International Track 200 was launched 10 years ago to
recognise the success of Britain’s private companies with the
fastest-growing international sales. Since its launch, more than
1,000 different companies have appeared on the league table.
The vital statistics of the league table companies have changed
significantly over the past 10 years. Average international sales
have increased from £44m to £70m, and the companies are
employing more people, with the average rising from 380 to 700.
Aston Martin featured on the 2018 league table with
international sales of £683m; it floated in the same year, and is
now valued at £2.7bn
Stock market flotations
17 companies have floated on the stock market. Examples
include (in league table appearance order):
How the International Track 200 has changed • Fever-Tree, the mixer drinks manufacturer, featured in 2011
with international sales of just £4m; it floated in 2014, valued
at £154m and is now worth £3.1bn
2010 2019
• Endava, the IT services provider, first featured in 2012 with
overseas sales of £4m; it floated on the NYSE in 2018 with a
valuation of $220m and is now valued at $1.2bn
• arkit, the financial website operator, featured in 2013 with
M
Average overseas sales of £251m, floated on Nasdaq in 2014, valued
int'l sales £44m £70m
at $4bn and completed a $13bn merger with IHS in 2016
• Merlin Entertainments, the visitor attraction operator,
featured in 2013 with international sales of £649m; it floated
in 2013 valued at £3bn and is now worth £3.4bn
• Joules, the lifestyle retailer, featured in 2015 with
international sales of £7m; it floated in 2016, valued at
Average
staff 380 700 £140m and is now worth £227m
• Aston Martin, the sports car maker, featured in 2018 with
international sales of £683m; it floated in the same year
valued at £4bn, and is now valued at £2.7bn
Top
company
Acquisitions
Int'l sales £28m £81m
More than 140 International Track 200 companies have been
acquired, including:
Average figures for companies with turnover above
• Office, the shoe retailer, featured in 2015 with international
£25m, as the 2010 league also included firms below
£25m turnover sales of £14m; bought by South African retailer Truworths
for £256m that year
• ghd, the hair products supplier, featured in 2012 with
exports of £86m; acquired by Coty in 2016 for £420m
• Skyscanner, the travel search engine, first featured in 2013
with overseas sales of £21m; acquired by China’s Ctrip for
£1.4bn in 2016
© 2019 International Track 200 fasttrack.co.uk10 International Track 200 research report 2019
The first International Track
Companies that appeared in the first International Track league
table in 2010* include:
• Cath Kidston the lifestyle retailer, debuted with overseas
sales of £5.6m and has featured five more times; it was
acquired by Baring Private Equity Asia in 2016 for an
undisclosed sum, and international sales hit £39.4m in 2018
• Beggars Group the music producer, featured with overseas
sales of £19.2m, and acquired the Radiohead catalogue
Energy services provider Global Energy Group was the top in 2016; it now has 22 offices worldwide and generated
company on the first International Track league table with international sales of £28.9m in 2017
overseas sales of £27.8m
• Lush the cosmetics retailer, featured with international sales
of £150.8m; it posted overseas sales of £300.3m in 2017, with
more than 900 stores across 49 countries
•
Zaha Hadid, the architect, debuted with overseas sales of
£24.5m and has featured three more times; founder Dame
Zaha Hadid passed away in 2016 and the company continues
her work with projects across six continents
Failures
Fewer than 10% of International Track companies have gone bust.
Companies that have failed include Berwin & Berwin, the
menswear firm which featured in 2013 and 2016, becoming
one of Europe’s largest suit makers before being saved from
administration by the Edinburgh Woollen Mill last year; IT services
provider 2e2, which had £404m sales in 2011 before going bust
in 2013; and Gaucho, the Argentinian steak house chain which
collapsed during the casual dining crunch of 2018.
Sector changes
Companies in the oil and gas sector featured strongly on the first
International Track, accounting for 17% of the league table. They
included the No 1 company, Aberdeen-based Global Energy Group.
Engineering was also well-represented (18%), but only 7%
supplied consumer goods.
In contrast, consumer goods is the top sector in 2019, accounting
for 22% of the league table. Ecommerce has driven overseas
growth for many, including the No 1 company, Gymshark.
* International Track ranked 100 companies in 2010
© 2019 International Track 200 fasttrack.co.ukInternational Track 200 research report 2019 11
International Track 200 alumni
First featured in 2012 with int’l sales of Featured in 2018 with int'l sales of First featured in 2014 with int’l sales
£46m; acquired by General Atlantic in £683m, and floated in the same year of £26m; bought by Brown-Forman for
2016, valuing it at almost £1bn valued at £4bn, and now worth £2.7bn £285m in 2016
First featured in 2012 with int’l sales of First featured in 2010 with int’l sales of First featured in 2012 with int’l sales
£108m; overseas sales rose to £224m in £6m; acquired by Baring Private Equity of £36m; has appeared a further four
2017 on total sales of £347m Asia in 2016 for an undisclosed sum times, and now has exports of £130m
Featured in 2013 with int’l sales of Featured in 2013 with int’l sales of First featured in 2012 with int’l sales of
£331m; acquired by LabCorp for £100m; acquired by Permira for £4m; it floated on the NYSE last year
$1.2bn in 2017 £300m in 2014 valued at $220m and is now worth $1.2bn
Featured in 2012 with int’l sales of Featured in 2011 with int’l sales of £4m; Featured in 2015 with int’l sales of
£15m; floated in 2014 valued at £309m floated on AIM in 2014 valued at £154m, £40m; bought by Chinese group CIH in
and now worth £846m and now worth more than £3.1bn 2016, valuing it at £150m
Featured in 2012 with int’l sales of First featured in 2011 with int’l sales of Featured in 2015 with int’l sales of £7m;
£86m; acquired by Coty in 2016 £8m; total sales rose to £70m in 2018, floated on AIM in 2016 valued at £140m,
for £420m with 70% generated overseas and now worth more than £227m
© 2019 International Track 200 fasttrack.co.uk12 International Track 200 research report 2019
International Track 200 alumni
Featured in 2010 with int’l sales of Featured in 2015 with int’l sales of Featured in 2013 with int’l sales of £251m;
£151m; group sales rose to £42m; acquired by Priceline floated on Nasdaq in 2014, and completed
£498m in 2017 for $550m in 2017 a $13bn merger with IHS in 2016
Featured in 2013 with int’l sales of Featured in 2015 with int’l sales of First featured in 2017 with int’l sales of
£649m; floated in the same year valued £14m; bought by South African retailer £15m; floated the following year valued
at £3bn and is now worth £3.4bn Truworths for £256m that year at £145m and is now worth £149m
First featured in 2015 with int’l sales of First featured in 2013 with int’l sales of First featured in 2012 with int’l sales of
£22m; now has more than global 180 £131m; now has more than 10 luxury hotels, £593m; generated total sales of £2.6bn
stores, generating exports of £46m in 2018 generating total sales of £206m in 2018 in 2018 and employs 32,500
First featured in 2013 with int’l sales First featured in 2015 with int’l sales of £8m; First featured in 2013 with int’l sales of
of £21m; acquired by China’s Ctrip for made total sales of £205m in 2018 after £5m; acquired by KP Snacks in May 2018
£1.4bn in 2016 opening its first US stores for an undisclosed sum
Featured in 2012 with int’l sales of First featured in 2015 with int’l sales of £263m; Featured in 2014 with int’l sales of
£287m; Brait acquired an 80% stake for now has 286 sites across 10 countries, with £164m; sold to Verisk Analytics for
£682m in 2015 total sales of £790m in 2017 £1.85bn in 2015
© 2019 International Track 200 fasttrack.co.ukInternational Track 200 research report 2019 13
KEY THEMES & SELECTED COMPANY PROFILES
On the following pages we profile examples of companies that
demonstrate some of the key themes from this year’s league table.
Trading in Europe
The EU is Britain’s biggest trading partner, accounting for about
44% of all British exports of goods and services. It also the top
market for the International Track 200 firms, with 171 companies
citing mainland Europe as a key destination for exports. Despite
Brexit, it remains the top choice for future growth, with 137
Safety product manufacturer JSP (No 187) operates a fully
companies planning European expansion and 62 identifying
automated manufacturing facility in Germany Germany as a key target. Examples include Transferwise (No 12),
which said it will open an office in Brussels this year.
VSI Group
Language services provider Founded in 1989 by managing director Norman Dawood, VSI
17 translates, dubs and provides subtitles for films and television
European clients include Sky Deutschland
and French television channel Canal+ series, working for clients such as the BBC, Nickelodeon and
other major streaming platforms. It has 22 studios worldwide,
with locations including Los Angeles, Paris and Berlin, and
CAGR§ 122% works in more than 50 languages.
Int'l sales 2017 £32.4m
Int'l sales 2015 £6.6m
Total sales 2017 £45m
Staff 133
Founded 1989
Location Central London
Windhoist
Wind turbine contractor This Scottish company helps build wind turbines in Europe,
114 Australia and Morocco. It has installed more than 6,200 turbines
Built the Skovengen Wind Farm, helping
Denmark meet its renewable energy goals for wind energy specialists such as Siemens, Vestas and
Nordex. Projects include turbine work for a $380m wind farm
in Queensland, Australia, and Scotland's largest offshore wind
CAGR§ 55% development. Managing director Hugh McNally, 53, plans to
Int'l sales 2017 £34.1m expand in Scandinavia and Australia this year.
Int'l sales 2015 £14.3m
Total sales 2017 £47.4m
Staff 306
Founded 2005
Location Scotland
JSP
Safety product manufacturer Chief executive Mark Johnstone, 51, leads this Oxfordshire-
187 based safety gear manufacturer, founded by his father Clive, 76,
Operates a fully automated manufacturing
facility in Germany in 1964. It designs and makes helmets, respirators, goggles and
other safety products from bases in the UK, China, Germany,
America and the UAE. It is setting up local bases across Europe,
CAGR§ 35% including in Spain, Hungary and the Czech Republic.
Int'l sales 2018 £28.9m
Int'l sales 2016 £15.9m †
Total sales 2018 £58.1m
Staff 305
Founded 1964
Location Oxfordshire
§ compound annual growth rate between 2015/16 and 2017/18 † annualised
© 2019 International Track 200 fasttrack.co.uk14 International Track 200 research report 2019
TRADING OUTSIDE THE EU
With Brexit on the horizon, markets outside the EU are set to gain in
importance for British exporters.
Almost two thirds of companies (64%) identify North America as a main
market, while 37% are active in Asia (page 15 explores China in depth).
A fifth (20%) are looking to the Middle East and Africa for future growth
(companies targeting Africa are profiled on p16) for future growth.
Examples include Trutex (No 160), the Lancashire company which
Watches of Switzerland (No 18) chief executive Brian Duffy sells bespoke British-style uniforms to schools in Dubai and Abu
opened its flagship store in New York last year
Dhabi, and Origin (No 47), which manufactures luxury windows and
doors in High Wycombe and Florida, and has a showroom in Dubai.
Watches of Switzerland Group
Jewellery and watch retailer This Leicester jewellery group is one of the world’s largest
18 distributors of luxury watches. It owns Goldsmiths, Mappin &
Opened its flagship US store in New York in
November Webb, Watches of Switzerland and Watch Shop in the UK, and
is expanding across America with the backing of private equity
firm Apollo. In 2017, it bought US chain Mayors Jewelers for
CAGR§ 120% $105m (£78m). Chief executive Brian Duffy, 64, changed the
Int'l sales 2018 £133m group's name from Aurum Holdings last year in preparation for
Int'l sales 2016 £27.4m
a potential IPO.
Total sales 2018 £685.2m
Staff 2,015
Founded 1778
Location Leicester
YM&U
Talent agency Private equity firm Trilantic backed a tertiary buyout of this talent
58 agency last September, valuing it at about $160m. Previously
Forecasting strong growth from its Los
Angeles-based music talent agency called James Grant, YM&U advises music, entertainment and
sports stars such as Take That, Ant & Dec and Frank Lampard.
It also represents American DJs Cheat Codes and Steve Aoki,
CAGR§ 76% following its acquisition of Los Angeles-based music agency
Int'l sales 2017 £7.4m Deckstar in 2017. International sales reached £7.4m that year,
Int'l sales 2015 £2.4m†
under chief executive Neil Rodford, 49.
Total sales 2017 £27.8m
Staff 208
Founded 1984
Location Central London
The Little Group
Media wholesaler Chairman Jonathan Little, 54, heads this family-owned holding
186 company, which includes Gardners Books, one of Britain’s
Its US subsidiary stocks more than 250,000
music, book and film titles largest independent wholesalers of books, music and DVDs. It
also owns Lasgo, which exports CDs and vinyl records to more
than 50 countries. The group's international sales hit £151.9m
CAGR§ 35% in 2018, boosted by growth in its US operations, the global
Int'l sales 2018 £151.9m appetite for English-language books, and vinyl's resurgent
Int'l sales 2016 £83.5m
popularity worldwide.
Total sales 2018 £338.1m
Staff 1,218
Founded 1996
Location Eastbourne
§ compound annual growth rate between 2015/16 and 2017/18
© 2019 International Track 200 fasttrack.co.ukInternational Track 200 research report 2019 15
FOCUS: China
A survey by HSBC of 1,205 companies across 11 key economies
found only 10% of UK exporters saw China as a top three future
export market, compared to 15% globally. In contrast, around a
third (63) of International Track 200 companies plan to expand
there, with 44 already citing it as a major market.
Examples of companies trading in the country include Mountain
Warehouse (No 74), which launched its Chinese ecommerce site in
2015; and Karro Food Group (No 126), which exports pig's trotters,
Co-founder Tom Gearing of Cult Wines (No 73), whose top considered a delicacy in China.
overseas markets are Hong Kong and China
Cult Wines
Wine merchant This company manages more than £95m of fine wine
73 investments for 2,000 clients in 71 countries, providing online
Has strengthened Chinese presence with offices in
Shanghai and Hong Kong tools and guides to help collectors track the value of their
investments. It was set up in 2007 by former investment banker
Phil Gearing, 61, and son Tom, 31, who was a runner-up on
CAGR§ 68% the TV show The Apprentice. It opened its first overseas office
Int'l sales 2018 £27.7m* in Hong Kong in 2016, followed by Shanghai and Singapore.
Int'l sales 2016 £9.7m
Investment grade fine wines can be bought on their website in
Total sales 2018 £52.2m*
Staff 39 seven currencies.
Founded 2007
Location West London
Monica Vinader
Jewellery designer Monica Vinader, 50, launched her eponymous jewellery brand
153 in 2007. Celebrity fans include the Duchess of Cambridge,
Actress Liu Shishi wore its jewellery on the
cover of Elle China magazine actress Emma Watson, and England football manager Gareth
Southgate, who wore one of its bracelets at the 2018 World
Cup. In 2016, Piper Private Equity and Winona Capital invested
CAGR§ 45% £20m to fuel expansion in the US. The Norfolk company has 20
Int'l sales 2018 £20.3m boutiques in North America and Asia, while its website ships to
Int'l sales 2016 £9.7m
more than 70 countries. Overseas sales hit £20.3m in 2018.
Total sales 2018 £42.8m
Staff 212
Founded 2007
Location Norfolk
Busy Bees
Nurseries operator This Staffordshire business is Britain's largest private provider
184 of childcare services, running 359 UK nurseries and 550 sites
Theresa May highlighted its success in China
during a recent trade mission in total, caring for more than 50,000 children across the UK,
Singapore, Malaysia, Canada, China and Australia. In 2017, it
acquired Canadian nursery group BrightPath for £93m, and,
CAGR§ 35% last year, it announced plans to open 32 nurseries in China
Int'l sales 2017 £94.9m over the next five years. Chief executive Simon Irons, 56, heads
Int'l sales 2015 £51.7m
the group.
Total sales 2017 £327.5m
Staff 9,979
Founded 1983
Location Staffordshire
§ compound annual growth rate between 2015/16 and 2017/18 * supplied by company
© 2019 International Track 200 fasttrack.co.uk16 International Track 200 research report 2019
FOCUS: Africa
British exporters are consolidating trading partnerships across
Africa, with 14 league table companies regarding the continent as
a main market, such as digital marketing agency Jellyfish (No 109),
which has three offices in South Africa.
Other examples include commodities trader Gapuma (No 146),
which has five offices across Ghana, Nigeria and Uganda; Beta
Pharmaceuticals (No 142), which distributes prescription drugs
across East Africa; and Eaton Towers (No 86) – the only mobile
Integrity Print (No 46), run by managing director Mark phone tower company in Niger and Burkina Faso.
Cornford, prints documents for Botswana, Ghana and Zambia
EFG Housewares
Household goods wholesaler Household goods exported by this London-based wholesaler
44 include kitchenware, DIY tools and toiletries. Founded in 1978, it
Its own brand sparkling juice has proved popular
in West Africa is run by the second generation of the Shipton family – cousins
Mark, 45, and Daren, 50 – who made the strategic decision to
expand into Nigeria and Ghana 10 years ago having developed
CAGR§ 84% connections there through their UK partnerships.
Int'l sales 2017 £17.9m
Int'l sales 2015 £5.3m
Total sales 2017 £32.5m
Staff 82
Founded 1978
Location North London
Integrity Print
Printer Integrity Print was formed in 2008 when managing director
46 Mark Cornford, 53, led a £12.8m buyout from printing company
Has contracts to print teacher licences for
Zambia and cheques for Liberia Communisis. The Somerset-based group runs a security
printing business in Birmingham, and produces packaging and
labelling for retailers and pharmaceutical firms. Africa is a major
CAGR§ 83% overseas market, and projects include printing prescription
Int'l sales 2017 £2.6m pads in Ghana and exam certificates in Botswana.
Int'l sales 2015 £0.8m
Total sales 2017 £48.6m
Staff 370
Founded 2008
Location Somerset
Mace
Construction project manager Founded in 1990 and led by chief executive Mark Reynolds,
53 55, Mace provides consultancy and management services for
Invested in a joint venture, MaceYMR, in Kenya
to target the East African market construction projects in more than 70 countries. Works include
the redevelopment of the Victoria and Albert Waterfront
in Cape Town, South Africa, and fitting out Microsoft’s
CAGR§ 79% head offices in Kenya and Nigeria. In 2017, overseas sales
Int'l sales 2017 £665m represented a third of its £2bn turnover.
Int'l sales 2015 £208.4m
Total sales 2017 £2bn
Staff 4,741
Founded 1990
Location Central London
§ compound annual growth rate between 2015/16 and 2017/18
© 2019 International Track 200 fasttrack.co.ukInternational Track 200 research report 2019 17
Ecommerce
Excelling at online commerce has transformed the prospects of
an increasing number of British companies, helping them attract
overseas customers. Featuring on the 2019 league table are 34
ecommerce goods exporters that generate at least 10% of their
international sales online.
This is similar to the 2018 league table (35 firms), and a 36%
increase on 2017 (25 firms). Examples include Revolution Beauty
(No 34), which sold 61m products online and through retailers
Boxer Anthony Joshua is a brand ambassador for sports nutrition last year, and iPulse (No 5), which sells its patented hair removal
brand Bulk Powders (No 80), which has 12 online stores
devices through 15 international websites.
Sigma Sports
Sports goods retailer Launched in 1992 by Ian Whittingham, 47, and Jason Turner, 47,
15 this cycle and triathlon gear retailer trades mostly online. It sold
Sells 70% of its cycling and triathlon
accessories online a 50% stake to sportswear firm Bradshaw Taylor in 2009 and
opened a 30,000 sq ft distribution warehouse in Lincolnshire in
2018. It stocks the Le Col range from Sir Bradley Wiggins, and
CAGR§ 131% saw its 2018 sales boosted by new brand ambassador Matt
Int'l sales 2018 £4.5m* Stephens, the former national road cycling champion.
Int'l sales 2016 £0.8m
Total sales 2018 £26m*
Staff 79
Founded 1992
Location Kingston upon Thames
Leisure Pass Group
Tourism smartcard provider This company’s smartcards give tourists access to attractions
35 ranging from dolphin encounters in Hawaii to historical tours
100% of its tourist smartcards for city
attractions are sold online of Rome and the Vatican City. It also builds software for
tourist boards to manage their own smartcard systems. In
2016, private equity firm Exponent bought the business for
CAGR§ 92% an undisclosed sum, and the following year, it merged its US
Int'l sales 2017 £207.9m† portfolio company Smart Destinations and acquired the New
Int'l sales 2015 £56.7m
York Pass.
Total sales 2017 £225.8m†
Staff 105
Founded 1998
Location Central London
BULK POWDERS
Sports nutrition brand Superfood powders, nut butters and whey proteins are
80 among the health and performance products made by Bulk
Sells more than 1,000 products via 12 online
stores and marketplaces such as Amazon Powders. Fitness enthusiasts Elliot Dawes, 36 and Adam
Rossiter, 35, started the Colchester firm in 2006, and they now
export more than 1,000 food supplements to Europe, with
CAGR§ 66% expansion to the increasingly health-aware US and Chinese
Int'l sales 2017 £15.5m markets on the horizon.
Int'l sales 2015 £5.6m
Total sales 2017 £32.2m
Staff 119
Founded 2006
Location Colchester
§ compound annual growth rate between 2015/16 and 2017/18 * supplied by company † annualised
© 2019 International Track 200 fasttrack.co.uk18 International Track 200 research report 2019
Product innovation
Bringing innovative products, many developed in-house, to
market has helped many of the companies on this year’s league
table break into overseas markets. 70 companies attribute
their international sales growth to investment in new products
and R&D. These range from businesses developing healthcare
products, such antimicrobial wipes from Gama (No 84); to those
with automotive expertise, such as Envisage (No 81), which is
pioneering electric vehicle technology in the US.
Microlise (No 124) develops tracking systems that help HGV
operators maximise fleet efficiency and increase safety standards
Genius Sports Group
Betting data services provider More than 500 sports bodies, such as the NCAA and NBA, in 100
37 countries use this company to collect and commercialise live
Helps bookmakers launch personalised ad
campaigns online sports data. It also identifies betting fraud for organisations like
the Premier League and the PGA Tour, while supplying in-game
betting software to bookmakers and lotteries. In 2018, private
CAGR§ 89% equity firm Apax bought a majority stake to fund overseas
Int'l sales 2017 £46.9m growth and capitalise on the liberalisation of sports betting in
Int'l sales 2015 £13.1m
countries such as the US and Brazil. Mark Locke, 39, is chief
Total sales 2017 £53.1m
Staff 669 executive.
Founded 2000
Location Central London
Microlise
Vehicle tracking developer Microlise develops tracking systems that help HGV operators
124 maximise fleet efficiency, increase safety standards and reduce
Tracking technology helps customers reduce
CO2 emissions and save fuel costs environmental impact. The Nottingham-based company works
with vehicle manufacturers, such as DAF and MAN, and fleet
operators, such as DHL and Eddie Stobart, in Europe. In 2018
CAGR§ 51% the company opened a new French office to help it expand
Int'l sales 2018 £9.8m* across the continent. Chief executive Nadeem Raza, 51, heads
Int'l sales 2016 £4.3m
the group.
Total sales 2018 £50.1m*
Staff 477
Founded 1982
Location Nottingham
Vision RT
Medical technology developer If cancer patients move during radiotherapy treatment, Vision
139 RT’s 3D imaging systems automatically pause the beam,
Wireless tech provides feedback to patients
on their breathing during radiotherapy helping to prevent damage to surrounding organs and tissues.
Norman Smith, 49, and Ivan Meir, 48, founded the firm in an
attic in 2001, and it now has more than 1,000 installations
CAGR§ 47% worldwide. It has witnessed strong growth in the US, Europe
Int'l sales 2017 £21.3m and Asia Pacific.
Int'l sales 2015 £9.8m
Total sales 2017 £32.5m
Staff 132
Founded 2001
Location North London
§ compound annual growth rate between 2015/16 and 2017/18 * supplied by company
© 2019 International Track 200 fasttrack.co.ukInternational Track 200 research report 2019 19
Expansion through technology
More than a third (36%) of companies who responded to a Fast
Track survey said they plan to upgrade their business software as
they expand their international presence, with others answering
that they have already done so.
Examples include Fentimans (No 174), the botanical brewer which
installed Oracle NetSuite three years ago in preparation for overseas
expansion and saw exports increase from £3.8m in 2014 to £11.3m
in 2017; and payment provider WorldFirst (No 179), which has
Matchesfashion.com (No 79) chief executive Ulric Jerome has invested in nine international websites and a B2B platform.
invested in its shopping app, which has fuelled mobile transactions
Niftylift
Lift manufacturer Engineer and Niftylift chairman Roger Bowden, 71, founded this
51 company in a garden shed in 1985. The Milton Keynes business
Says digital marketing has given it a virtual
presence in markets around the world designs and makes mobile hydraulic platforms, such as cherry
pickers and access lifts, which it sells throughout Europe, the US,
the Middle East and Far East, Australia and South Africa. Under
CAGR§ 80% managing director John Keely, 58, it has invested in customer
Int'l sales 2017 £83.2m relationship management software and can provide instant
Int'l sales 2015 £25.7m
support to a dealer network in more than 70 countries.
Total sales 2017 £107.2m
Staff 481
Founded 1985
Location Milton Keynes
The Hut Group
Online retailer THG sells premium health and beauty goods via more than 165
63 websites such as Myprotein and Lookfantastic, powered by its
More than 500m people visit its ecommerce
websites each year proprietary technology. In 2017, the group spent £164m on
acquisitions, including Berlin-based beauty subscription service
GLOSSYBOX, and spa brand ESPA. In October 2018, it opened
CAGR§ 75% an 800,000 sq ft production and logistics centre in Poland. The
Int'l sales 2017 £512.6m Manchester company is led by founder Matt Moulding, 46, and
Int'l sales 2015 £167.2m
backed by investors including KKR, and valued at $3.25bn.
Total sales 2017 £735.7m
Staff 3,222
Founded 2004
Location Manchester
Matchesfashion.com
Luxury fashion retailer Husband-and-wife team Tom and Ruth Chapman, 55 and 57,
79 began with a single boutique in Wimbledon, southwest London, in
Uses geo-targeting to tailor website content
to local markets 1987. The retailer now sells more than 450 luxury fashion brands
online and in six physical locations. French and Korean language
websites were launched in 2017 and the company has attributed
CAGR§ 67% its international sales growth to investment in its shopping app,
Int'l sales 2018 £227.8m fuelling mobile transactions. Private equity firm Apax Partners
Int'l sales 2016 £81.7m
bought a majority stake in 2017, valuing the group — led by chief
Total sales 2018 £292.8m
Staff 574 executive Ulric Jerome, 40 — at a reported £800m.
Founded 1987
Location Central London
§ compound annual growth rate between 2014/15 and 2017/18 * supplied by company
© 2019 International Track 200 fasttrack.co.uk20 International Track 200 research report 2019
Growth by acquisition
Acquisition can be a time-efficient way to access new markets and
gain economies of scale.
Fifty-seven firms have bought or partnered with businesses to
expand internationally, a similar number to the 2018 table (60
firms), and up 24% on 2017 (46 firms). Examples include Oxford
Economics (No 93), which acquired Australian analytics firm BIS
Shrapnel in 2017, and John Cotton Group (No 91) – which makes
20m pillows a year and acquired Australian duvet maker Tontine
Ambassador Theatre Group (No 88), whose shows include for £7.8m in 2017.
Harry Potter and the Cursed Child, bought Broadway's biggest
theatre in 2013
Claranet
IT services provider This company provides IT, communications and cybersecurity
38 services to more than 6,500 businesses, such as Banco de
Its French subsidiary – Claranet France – made
three acquisitions in three months in 2015 Portugal and Canal+. Founded in 1996 by Charles Nasser, 49,
it has expanded through organic growth and acquisitions,
including last year's purchases of Italian cloud specialist
CAGR§ 89% Xpeppers, Dutch IT firm Quinfox, and security specialist
Int'l sales 2018 £207.9m NotSoSecure Global Services, which has operations in the UK,
Int'l sales 2016 £58.4m
US and India. As of 2018, Claranet had 24 offices and 43 data
Total sales 2018 £321.6m
Staff 1,841 centres worldwide.
Founded 1996
Location Central London
Ambassador Theatre Group
Theatre operator Chief executive Mark Cornell, 52, runs the world’s largest live-
88 theatre group, with 50 venues across Britain, Germany, and
Acquired theatre group Mehr Entertainment in
Germany last year the US – where it acquired ACE Theatrical Group in 2015. Its
iconic West End and Broadway theatres are home to box office
hits such as The Lion King. It also produces shows and runs
CAGR§ 62% a ticketing division, which sells 12m tickets a year for 11,000
Int'l sales 2018 £155.8m† performances.
Int'l sales 2016 £59.2m
Total sales 2018 £360.6m †
Staff 4,399
Founded 1992
Location Surrey
Pentland Group
Brand manager and retailer Speedo, Mitre and Berghaus are among the famous clothing
192 and sports brands managed by this business. Founded in
Acquired Californian footwear brand SeaVees
in 2017 1932 as The Liverpool Shoe Company, it has been run by three
generations of the Rubin family, with Stephen Rubin, 81, the
current chairman. Pentland is active in 190 countries and owns
CAGR§ 32% a majority stake in JD Sports, which acquired US retailer Finish
Int'l sales 2017 £1.4bn Line in a $558m deal last year.
Int'l sales 2015 £806.7m
Total sales 2017 £3.6bn
Staff 20,865
Founded 1932
Location North London
§ compound annual growth rate between 2015/16 and 2017/18 † annualised
© 2019 International Track 200 fasttrack.co.ukInternational Track 200 research report 2019 21
Female founders & leaders
34 companies on this year's league table were founded or
co-founded by a woman (24 firms) or have a woman as chief
executive, managing director, or chairperson.
Examples include Mint Velvet (No 103) – co-founded by chief
executive Liz Houghton – and Cult Beauty (No 2) – co-founded by
Alexia Inge and Jessica DeLuca. Laura Tennison MBE is founder
and managing director of JoJo Maman Bebe (No 135), while Monica
Vinader is chief executive of her eponymous jewellery brand (No 153).
Michele Harriman-Smith leads Childrensalon (No 182).
Founded by her mother in 1952, it sells designer children's
clothes to 160 countries
Charlotte Tilbury
Beauty products retailer Make-up artist Charlotte Tilbury, 46, launched her eponymous
60 cosmetics line in 2013, having worked in the beauty industry for
Celebrity make-up artist Charlotte Tilbury launched
the company in 2013 more than 25 years. The brand, whose celebrity fans include
Nicole Kidman and Kate Moss, runs seven ecommerce sites
that ship to 67 markets and has opened stores in London and
CAGR§ 75% the Middle East. Under chief executive Demetra Pinsent, it also
Int'l sales 2017 £43.7m sells through retailers, such as Nordstrom, Bloomingdale's and
Int'l sales 2015 £14.2m
Sephora in North America, and KaDeWe Group in Europe.
Total sales 2017 £100.7m
Staff 772
Founded 2013
Location West London
the7stars
Media agency Co-founded in 2005 by Jenny Biggam, 52, this firm takes its
87 name from a London pub. It plans and buys advertising across
Managing director Jenny Biggam quit her
job to set up the company in 2005 media channels in Europe and America for clients including
gaming firm Supercell, responsible for mobile phone games
such as Clash of Clans. It is also a member of a network of
CAGR§ 63% media buyers that shares work across Europe.
Int'l sales 2018 £90.5m
Int'l sales 2016 £34.2m
Total sales 2018 £297.6m
Staff 173
Founded 2005
Location Central London
Childrensalon
Childrenswear retailer Chief executive Michele Harriman-Smith, 66, has transformed
182 the clothes shop founded by her mother, Sybil, in 1952 into a
Michele Harriman-Smith leads the company
founded by her mother global online retailer of designer children’s clothes. Websites
in seven languages sell clothing from 280 brands, including
Armani, Burberry and Gucci, to customers in 160 countries. The
CAGR§ 36% company is headquartered near its original site in Tunbridge
Int'l sales 2017 £66.8m Wells, but generated 85% of sales abroad in 2017.
Int'l sales 2015 £36.1m
Total sales 2017 £78.9m
Staff 296
Founded 1952
Location Tunbridge Wells
§ compound annual growth rate between 2014/15 and 2017/18 * supplied by company
© 2019 International Track 200 fasttrack.co.uk22 International Track 200 research report 2019
Brand Britain
Fashion firms feature strongly among the British brands with a
reputation extending beyond the UK’s shores.
Among them are Mountain Warehouse (No 74), which sells outdoor
gear in stores across Europe and North America, and Seasalt
(No 178), which sells Cornish-inspired clothing online to 138
countries. British food and beverage companies with brand status
include Ahmad Tea (No 156), which has used its British heritage
to become a household name in the Middle East and Russia, and
Radley + Co (No 75) sells its range of handbags and accessories, Grenade (No 90) – the sports nutrition brand whose shakes and
with the distinctive Scottie dog logo, in 48 countries
bars are consumed by athletes in 100+ countries.
Gymshark
Online sportswear retailer Ben Francis, 26, started this fitness clothing brand in 2012.
1 Since then its range of fitness apparel has gone global, under
Has a combined audience of 80m followers on
social media the leadership of chief executive Steve Hewitt, 45, who joined
in 2015. It has focused on creating an aspirational brand,
building a community of customers through social media
CAGR§ 228% and sponsorship of popular YouTubers and Instagram stars.
Int'l sales 2018 £81m* In 2018, sales hit £103.2m, 78% of which were to overseas
Int'l sales 2016 £7.5m
customers in 177 countries.
Total sales 2018 £103.2m*
Staff 260
Founded 2012
Location Solihull
Radley + Co
Handbag and accessories brand Known for its distinctive Scottie dog logo, Radley ships its
75 handbags and purses to 48 countries. In 2016, private equity
Its distinctive Radley dog logo has become
an icon among global fans firm Bregal Freshstream bought the brand for an undisclosed
sum to fuel overseas growth. In 2017, Radley launched in the
US with shopping channel QVC and department store Macy's.
CAGR§ 68% Chief executive Justin Stead, 51, plans to expand the business
Int'l sales 2018 £17.8m in China, where it sells on ecommerce site Tmall.
Int'l sales 2016 £6.3m
Total sales 2018 £85.9m
Staff 565
Founded 1998
Location Central London
BrewDog
Brewery Founded in 2007 by James Watt and Martin Dickie, both 36, this
168 Scottish brewer has opened more than 70 bars in locations
Smart marketing has transformed punk beer
brand into mainstream giant valued at £1bn as far afield as Brazil and Japan, as well as a brewery in Ohio,
America, where it also has a DogHouse hotel. BrewDog was
valued at £1bn in 2017 when it sold a 22% stake to US private
CAGR§ 38% equity firm TSG Consumer Partners for £213m, and it has since
Int'l sales 2017 £21.6m raised another £26m from crowdfunding.
Int'l sales 2015 £11.3m
Total sales 2017 £111.6m
Staff 777
Founded 2007
Location Aberdeenshire
§ compound annual growth rate between 2014/15 and 2017/18 * supplied by company
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