3 minute read
TERRITORY FOCUS > ITALY
by Stag
INVESTING TO STAY AHEAD
Norman Shimwell, Managing Director at Optimaxx, talks global expansion plans, research and development investments and overcoming recent Covid and Brexit challenges with Torque Magazine…
Optimaxx Ltd was founded in 2014 by Norman Shimwell and is fast becoming recognised as a major player in the high‐performance woodscrew market in the UK, with a distributor base already spanning 500‐plus stockists nationwide. The company was acquired byRoyd Tool Group in July 2018 and has since increased its product range to include decking screws, flooring screws, screwdriver bits, construction screws and storage cases. Torque Magazinespeaks with Norman Shimwell with regards to the coronavirus and Brexit periods and discussed how the brand plans on becoming the number one wood screw brand in the UK within the next two years, which according to the Royd Tool Group National Account Manager, the brand is on track to achieve. Not only does Optimaxx hope to be the biggest brand of its type in the UK, but it is also planning on more global expansion as Shimwell hopes to take the company to Europe. “We have started that process and have quite a number of European retailers inter‐ested. Plans to set up distribution from mainland Europe are under way to overcome the complication Brexit has thrown up.” While many companies have struggled to stay afloat during the coronavirus period, Optimaxx has experienced an exponen‐tial growth in sales. After experiencing a massive hit in April, the business is now running at nearly double of what it was running pre‐Covid and has almost doubled its turnover in the last twelve months. “We have taken advantage of the situation and turned it to good effect where possible,” adds Shimwell.
Additionally, whilst many companies put their staff on furlough during this period, Optimaxx decided to focus on funnelling its resources into research and development. In April, May and June, the group had a whole team working on research and development. It also invested heavily into stock in April and May of last year to combat any supply and stock challenges. Not only did the industry face stock challenges, but it has also seen a huge growth in demand. However, having invested in stock during the start of the pandemic, Optimaxx was ready to face the challenge head on. “There has been a huge surge in demand within the industry. One of the biggest challenges has been supply and stock levels. However, we have sat at 80‐90% of supply all the way through the Covid pandemic and we are currently have good levels of stock across the range which is unheard of in our industry,” says Shimwell. Despite the addition of export challenges as a result of Brexit, Optimaxx has managed to keep supply lines open but has faced challenges with regards to container costs. “Increased container costs have been a massive challenge,” says Shimwell. “We have managed to keep supply lines open by working with the factory, which is why our stock has been up at good levels. We have had to increase our team on the purchasing side to deal with that, so we have invested in that side of the busi‐ness, but it is clearly paying off.” With many brands questioning what the coming months will look like after such a challenging period, Optimaxx is looking to develop its current range by bringing in new products and are also looking at ways to bring more of its manufacturing and pack‐aging back to the UK. “We are going to expand the range over the next twelve months, bringing in a range of prepacked products for DIY type outlets and then we are going to broaden our offerings in the construction industry as well. The Optimaxx Maxx Impact Screw‐driver bits are now available and getting some great feedback. The market is awash with cheap bits but these perform second to none,” says Shimwell. The Optimaxx mission will remain the same over the next twelve months, Shimwell tells Torque Magazine. Products will continue to be stocked at high levels to meet demand, and the group’s social media engagement will aim to remain ahead of competing brands and therefore continue to benefit stockists that are supplying Optimaxx. “My message to people would be: If the demand is there and you can get the stock in, you will get an increase in sales. And we’re not stopping, we are going faster and faster,” he says.
