Polydron is an outward looking, global company who subcontract manufacturing to China and India and warehouse in the UK and the USA.
Colourful construction product Polydron has been placing geometric shapes at the heart of children’s learning and play for over 30 years. Their innovative designs are used in classrooms across the world to teach maths, two and three-dimensional geometry and design and technology. Today, Polydron is run by a tight knit team operating out of the Cotswolds.
It is an outward looking, global company who subcontract manufacturing to China and India and warehouse in the UK and the USA. The majority of Polydron customers purchase stock direct from warehouse, 70% from the UK and 10% from the US; while 20% will take stock direct from the factory. The EU market presents significant opportunity for Polydron as Richard Hardstaff, Polydron’s Managing Director explains:
“Shipments from the UK warehouse to the EU account for 35% of our turnover and is our fastest growing area.”
Polydron intend to follow this growth to Europe, seeing any initial investments in new warehousing and infrastructure to ultimately become cost neutral with savings on shipping, and stronger trading possibilities by being based on the mainland. It would also stop EU destined goods paying tariff duties twice, which exporting via a UK base would risk after Brexit. Gearing up for the move, Polydron have already invested in new computer systems that will allow them to hit the ground running and remain as flexible as possible. Richard continues:
“I hear of ‘free trade deals’, but trade deals have no effect on our business as we import from China and India.”
Regardless of the deal outcome - Canada+, WTO or a Norway model – Brexit could well position Polydron’s customers as ‘importers’ of the Polydron product — causing issues around liability and EU compliance. For Richard, the best solution to this is to ensure they have a base in the EU.