Matthew Pitt, the newly appointed managing director of sink and tap specialist Abode, has revealed details of his five-year plan for the business.
Speaking to kbbreview from Abode’s impressive stand at this year’s kbb Birmingham show, Pitt (pictured) – who recently took over the role from Abode founder and former MD Darren Holliday – explained how growth, export and strategic product development are all key elements of his strategy.
“We are on a growth mission and, importantly, we see a path towards growth,” he said. “Abode is now 18 and we’ve gone from £0 to a £16 million turnover business. So, if we maintain that curve then this business could comfortably be a £40m business within my time with the brand. There’s no reason why we couldn’t be a business of that scale.
“Part of my vision is that, within the next five years, Abode will be exporting. It’s too soon to nail down which markets we will target – I want to look at it strategically – but, being part of the Norcros Group, we already have sister companies overseas so that is definitely something we will be looking to exploit.”
As part of his strategy, Pitt revealed that he – and his team – had identified key trends that are shaping the way people live and that the brand’s current offering – and future product development – was in line with those findings.
“We’ve recognised a number of trends that guide people’s behaviour,” he explained. “Smart homes, for example, is going to be massive – we see that as a real developing area and we will follow those developments.
“The next is sustainability, which is starting to permeate into consumers’ minds – they want products that are sustainable and they are prepared to shop around and pay more for them.
“And, lastly, as more and more of us are living in smaller homes in urban environments, compact living has already had a huge impact on our product offering – particularly what we’re showing here at the show in terms of our Pronteau hot water collection which offers a range of functionality in one tap – perfect for small spaces.”
During the interview, Pitt talked about taking on the role of MD and acknowledged the achievements of his predecessor.
“When I started at Abode the business over 10 years ago, the brand was still relatively new to the market,” Pitt explained. “I’ve followed the Abode journey so moving into the MD role is a natural evolution of my experience of the business.
“It’s certainly going to be a challenge to take over from someone as successful and significant to the Abode story as Darren [Holliday] was. But what he’s done is lay the foundations of the business and built up a strong recognition of that in the market.
“I also have a very strong, experienced team at Abode – we’re sinks and taps people. It’s in our DNA. We’re specialists, so the future of Abode isn’t just about me it’s about them.”