Hunter Wellies - Walking Through The Recession
Economic downturn caused several leading companies to suffer financial distress
, and in some extreme cases bankruptcy. The Daily Telegraph reported that over 4000 organisations faced the perils of liquidation in just June and August of 2010.
Remarkably, several companies managed to avoid these issues and even improved their financial position during the recession. Hunter, was one of these brands, they enjoyed with astounding profit figures for 2009 - a turnover of 25.7 million translating into a pre tax proift of 4.1 million, their highest figures to date.
These results may have encouraged some companies to hold fire on profit saving tactics, but not Hunter. To ensure they stayed away from liquidation, Hunter reduced their workforce from 2,504 to 1,972 within the last 12 months. Additionally, Director's showed solidarity with their workforce by taking almost a 200,000 pay cut (salary fell from 284,000 to 52,000). Manufacture of the Hunter Wellies was also assessed and it was deemed to expensive. Production facilities have been created in China to help produce the boots at a lower cost. Despite this move, Hunter ensures that manufacture is still done using traditional British techniques.
Media coverage of the boots has certainly been aided by the standing of the Hunter owner Lord Marland. The Conservative minister has promoted the Hunter Wellies heavily in the press, evening managing to persuade Prime Minister David Cameron to two pairs of the boots to President Obama for his daughters, Malia and Sasha.
Hunter provides their 'Hunter Wellies' in a wide range of colours and styles. Directors argue that this diversity is the reasoning behind their success, as their range reaches out to more and more types of consumers. However, Hunter has also responded to high street trends by teaming up with an other leading British footwear company, Jimmy Choo. The collaboration has created a boot that has the reliability of Hunter Wellies with the style of Jimmy Choo.
Selling hundreds of Hunter Wellies both online and off, even leading to a pop up shop in London's Westfield shopping centre this September. Hunter are seeing increasing levels of success and hope that 2010 will be another record breaking year.
Hunter Wellies - Walking Through The Recession
By: Nigel Linton
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