SYDNEY: Stealth Global has launched the Bisley Workwear product range into the UK through its recently established 50/50 joint venture (JV) BSA Brands UK, a wholesale distribution business.[the_ad id=”31605″]BSA Brands, a wholesale distribution company registered in the UK, has officially commenced the launch of Bisley Workwear product range into the UK market, and Bisley Workwear products are already available for sale through a United Tooling Solutions (UTS) store in Bridge End, Wales.
The official launch follows a comprehensive Troy roadshow conducted last week. The roadshow had a combined audience of 200 people across five locations throughout the United Kingdom and showcased the Bisley Workwear range of products and point of sale materials specific to the UK market.
The BSA Brands joint venture is a major strategic initiative for Stealth that is consistent with the Company’s strategy and provides Stealth with a risk managed entry into a potentially lucrative new market.
Stealth research suggests the identified addressable market for workwear in UK in 2018 was approximately GBP 562 million and growing on average at 5.5% per annum. Identified opportunities in various industry sectors include General Trade, Manufacturing, Automotive, Aerospace, Transportation, Construction, Electronics, Rail, Oil & Gas, Medical and Pharmaceuticals.
In West Africa focus is on Mining, Mining Services, Oil & Gas, Construction and Infrastructure.
Stealth Managing Director Mike Arnold said: “BSA Brands is a major strategic milestone for Stealth and I am delighted that Bisley Workwear is already being ranged in our first store within two months of establishment.
The Joint Venture presents a tremendous and unique new growth initiative for Stealth and strengthens the Group’s offeringto our customers by leveraging our integrated distribution model from ‘manufacture to customer’ and introducing a cotton-based workwear clothing product unique to the UK workwear market.
“We have been carefully researching the market over the past 12 months, including the market uncertainty created by Brexit. We believe the Joint Venture arrangement better positions Stealth, by leveraging the combined strengths and capabilities of Stealth and Bisley from manufacture to delivery. We expect this investment, which includes vending customers into the Joint Venture, to deliver significant longer term returns for Stealth in future years ahead.”
BSA Brands provides Stealth the opportunity to expand its business and deliver a stronger overall value proposition, and has an important competitive advantage by holding an exclusive license agreement for the Bisley Workwear product range in the UK and Africa markets, with potential for expansion into Europe.
BSA Brands is targeting to range Bisley Workwear in at least 48 stores initially in FY2020.