UK travel retail supply specialist Premier Portfolio International is to cease trading at the end of the year due to the impact of the COVID-19 pandemic.
In a statement to business partners, the directors of the UK-based company, Kevin Walsh and Andrew Webster, expressed their sadness and regret at the decision to close after 21 years of commitment to travel retail.
“The [COVID-19] pandemic has hit the business really hard and, as a result, the board has decided that it is the right time to close down given the trading challenges we have faced and continue to face,” they said.
“It’s a decision that hasn’t been taken lightly by either of us,” Kevin Walsh told The Moodie Davitt Report. “But with COVID happening this year, the business has taken a battering. It was getting tougher and tougher for us. With the inflight market, if you’re selling generic product then you’re never going to make any money anymore with the sale and return, the high listing fees and the advertising requirements.
“So we talked about it long and hard. And our decision was to do a structured close down and leave the industry with our heads held high.”
“We have been haemorrhaging money and all we could do is just keep hanging on and wait for the inevitable six, eight or ten months down the line,” said Andrew Webster. “Whereas with this… we are leaving in a structured and proper manner.”
Premier Portfolio was founded in 1999 by Andrew Webster and Kevin Walsh, already experienced executives within the travel retail industry. The company was named Frontier ‘Supplier of the Year’ award in 2007 and 2010. Its first product was the Fun Plane which has been listed by over 150 airlines worldwide. Premier Portfolio’s client list includes British Airways, Virgin Atlantic, EasyJet, Ryanair, Emirates, American Airlines, China Sales Group, Dubai Duty Free, DFS, Dufry, Gebr Heinemann, ISG, King Power, KrisShop, Lagardere, Retail In Motion and WHSmith. |
Both Walsh and Webster, along with Bridget Walsh and Karen Webster, thanked Premier Portfolio’s clients for their business and support, in particular those who continued to support the company during the current crisis.
As reported, Premier Portfolio International Sales Director Garry Maxwell left the company earlier this year to set up GMAX Travel Retail, representing brands in travel retail.
According to the Premier Portfolio directors, Maxwell will collaborate with Daron Worldwide Trading, a specialist in aviation-related collectibles and transportation-themed toys, to maintain the continuity of Premier Portfolio logo items.
Here we bring you an interview with Kevin Walsh and Andrew Webster. Readers can add their comments via the DISQUS platform below or on our LinkedIn page.
Q&A: Up close and personal with ‘Walshie and Webbo’
The Moodie Davitt Report: Tell us about some of your key life and career influences down the years.
Kevin Walsh (KW): My Dad, Sean Walsh – he gave me my work ethic and how to treat people with respect and dignity. David Lingwood, Passenger Services Manager at Fishguard [a coastal town in Pembrokeshire, Wales -Ed], who gave me many opportunities to develop my business skills early in my career
Andrew Webster (AW): My father, who always taught me that that if you’re going to do a job, then do it well. Also, my two brothers and sister who in addition to my father, have all run their own successful businesses. In fact, Kevin and I sought advice from my father when we first set up, as at that time he ran the Small Firms Advisory Service in the Midlands.
Andrew Wright at Mary Quant for giving me the first opportunity in duty free back in 1987.
My partner Kevin, of course, for so many things but initially helping to set up our systems, distribution, offices and recruitment programme. And having been a buyer, often looking at things from a different perspective and sometimes taking a different viewpoint. The two of us have always made a great team.
KW and AW: Bruce McGuire – a legend in the industry and his business model was perfect for the inflight market. Colm McLoughlin – for his knowledge, wisdom, advice and for inviting us to the Dubai Duty Free Golf World Cup when we started our business.
Martin Moodie and [former TRB owner and Editor-in-Chief] Doug Newhouse – for all their help, advice and publicity and articles about our company and new product launches.
We have so many other friends in the industry we have learned from. Their love of the business has been inspirational, their friendships and their zest for life and people, fantastic. They are always available if you need help and great fun to have around. You know who you are!
Tell us about some of the highlights down the years.
KW: Our first ever Fun Plane listing with Joe Hickey at Caledonian Airways. 4,000 units! Andrew and I high-fived out of his office that day.
KW and AW: Raising £40,000 (US$53,000) at car boot fairs in our first few months, which in addition to a small personal investment ended up financing our entire business. The company never borrowed money and built annual turnover to just shy of £6 million (US$8 million).
Winning the inaugural Frontier Award for Supplier of the year in 2007 and then again on that eventful night in 2010 when Frontier accidentally announced the winners the night before!
With the help of Kay Spanger and his team in Hamburg, developing a fantastic business with Gebr Heinemann where we once became their second biggest toy supplier.
Setting up the Pinkie Pairs Golf Tournament, which has been fantastic fun and we have raised such a lot of money in the 12 years it’s been running.
The Tax Free rugby was superb too [played each year in Cannes during the early 2000s -Ed]. We have plenty of fond memories and built some long-lasting friendships as a result.
Raising £70,000 for Great Ormond Street Hospital was a fantastic thing to do in conjunction with World Duty Free Group.
Inevitably with any family company, there must have been some low moments too?
KW and AW: Disaster struck seven years ago when our main toy-producing factory decided to close down. We had invested close to US$1 million in moulds which were being held ransom by the factory. We had to pay US$250,000 to the factory owner so that he could pay his staff redundancy before releasing our tools – who said running a business was fun?
What funny memories or anecdotes stand out?
KW and AW: Too many to mention but The Irish Village party at the Dubai Duty Free Golf World Cup always throws up special memories and moments.
KW: I did get pulled out of a boat at the Americas show when a big mouth bass struck and pulled the rod clean out of my hand. I dived into the water after it!
And I once had to dress up as Jelly Belly at the Orlando show…
KW and AW: Running in black tie to catch the bus on the Croisette in Cannes for the gala dinner. The winds were strong, and rain was terrible. As Garry [Maxwell] ran underneath one of the canopies of a boutique, a sudden gust of wind flipped the canopy and dumped about 20 gallons of water all over him. With nothing else to change into, he got on the bus and drip died at the event. That’s commitment for you.
AW: Kevin bumping heads with a stranger in a Hong Kong bar in the early hours, chatting enjoying a beer and swapping business cards. The following day, the gentleman, who was a senior executive for a major Asian airline, came onto our stand with his buyers and said, “Buy something from these guys, they’re great!” We went on to develop a US$100,000 business per year with that airline.
What was the Premier philosophy from the off? What made it work?
KW and AW: Our philosophy was to create an aviation toy range which could be taken inflight globally and have a non-corporate business that was fun. We succeeded and went on to create not only one product that went global, but a range of items that probably made Premier Portfolio the market leader inflight for logoed products.
Our supply chain management was key, and we built a team of people who were excellent and worked tirelessly to ensure our customer service was second to none. Our team were special to us and they would always go the extra mile to ensure the business was a success. The first product, Fun Plane, went on to sell well over 5 million pieces.
Your feelings today as you make this announcement?
KW and AW: We feel very proud of what we’ve achieved as a small company with no outside financial support. Sad that what we’ve built up over the years has been taken away from us through no fault of our own. A tough gut-wrenching feeling that we have let our staff down and uncertainty for what the future holds for them and us.
And a final message to the travel retail community?
KW and AW: The industry is strong, and it will bounce back. It will take time, but we feel sure business will return. We would like to thank our team, one which included Garry Maxwell who has started GMax Travel retail. He will take on our logo business with the backing of Daron USA.
Thanks also to Sharon, Steve, Yvonne and of course Bridget and Karen too. We would like to thank all our clients for supporting our company over the 21 years we have been in business. We would like to thank those clients that helped us during the dark early months of COVID-lockdown.
And finally, a big thank you to all our friends over the years that have made our journey in travel retail one of the most memorable careers possible. Surely there in no industry where the words ‘work hard, play hard’ are more apt!
Cheers to our friends and customers all over the world. Stay healthy and stay strong – Walshie & Webbo
*Look out for a more extensive business interview by Martin Moodie with Kevin Walsh and Andrew Webster, coming soon. See reader comments on the Disqus platform below where you can add your own.
