Bristol companies Magmatic and Pukka Herbs head to Singapore next week on a networking and fact-finding mission after reaching the regional finals of HSBC’s Global Connections initiative.
Magmatic, best known for its Trunki child’s ride-on suitcases, and organic herbal teas, skincare and healthcare firm Pukka Herbs will spend a week meeting like-minded businesses from around the world as part of the bank’s International Exchange programme with other UK regional finalists.
They will hear how the Asian economy is performing and its growth prospects, as well as gaining advice on how to trade in Asia.
Among the speakers will be experts from Microsoft, Rolls Royce, Grant Thornton and PwC, in addition to HSBC.
Magmatic designs and distributes award-winning children’s products under the Trunki brand which as well as its ride-on suitcases, has launched a range of sub-brands including BoostApak, PaddlePak and SnooziHedz. Since launching in 2006, founder Rob Law has grown Trunki to a team of 25 people and sold 1.4m suitcases in 97 countries worldwide. Earlier this year it brought back production to the UK from China.
Pukka Herbs creates organic herbal teas, skincare and healthcare, including food supplements and herbal remedies. Co-founder Tim Westwell has developed Pukka from a business with three teas in 2002 into a £10m-plus turnover company. Nearly half of its business is international and last year it entered the German market for the first time with significant results. It has also achieved significant growth in North America (225%) and Australia (370%) and is exploring opportunities in China and India.
Each finalist will be given the opportunity to build their business pitch following the International Exchange, applying the insights gained on the trip. Experts will then select two winners at a regional final in April who could receive a financial reward of up to £120,000 in recognition of their success – the equivalent of 2% of their borrowing up to a maximum of £6m.
Tim Westwell said: “Pukka is a tremendous business that has grown with ethics at its core. I’d like to share our values into a wider business space.
“Likewise, I’d like to listen and learn from other exciting businesses about their key recipes of success and explore new business opportunities.”
Rob Law added: “Magmatic uses innovation in all aspects of the business. It’s not just our products challenging the norm, but also out supply chain, marketing, management and customer care.
“We want to build Trunki into the global brand for children’s travel products. Enabling more children to enjoy travel, experience new cultures and helping to create tomorrow’s thought leaders.”
HSBC South West commercial director Gary Burton added: “Our Global Connections initiative seeks to help UK businesses compete at the forefront of international trade.
“Not only can we help through providing funding but also through introducing them to other entrepreneurial business both in the UK and around the world. It is a privilege to facilitate these connections and to help UK businesses achieve success on a global scale. Trading across borders is not only critical for the future success of British businesses but is also critical to the UK economy.”
