Corgi toys thriving after Hornby buy-out
Published: 10:10, 03 June 2009
Updated: 10:10, 03 June 2009
Iconic British brand Corgi says the past year was one of its most successful ever - and put its achievements down to a multi-million pound buy out by Margate modelmakers Hornby.
The firm was purchased last May for a cool £7.5 million, when Hornby said it wanted to launch more products and improve Corgi’s profitability.
Alex Balzaretti, general manager of Corgi, said her staff had recently been able to get back into the business community, talking to customers and retailers to find out how the brand needed to improve.
Their feedback has prompted new product ranges, including a Colin McRae tribute collection, featuring 11 of the cars driven by the late Scotsman during his rally career, as well as a number of James Bond collectibles.
Ms Balzaretti said: “We’ve started to target a much younger audience but we’re still committed to iconic products like the double-decker London bus and the traditional black cab."
Other recent releases include a die-cast of a 2007-spec Chinook helicopter, as used in Afghanistan operations, as well as a replica of an AA Ford Escort recovery vehicle and a limited number of 1:43-scale Hillman Avengers, painted electric blue.
Ms Balzaretti said that being part of the Hornby, an established brand popular with collectors the world over, had transformed the fortunes of Corgi, with sales rising month on month.
She added: “We’ve achieved so much in the last 12 months. Corgi is now making more money than it’s been able to in recent times, against the backdrop of a tough economic climate.
“Our business is now in very safe hands.”
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Carol Davies