Psyche looks to grow overseas

Psyche looks to grow overseas

One of the region’s top designer clothing stores has announced plans to build a new administration office and take on extra staff as it expands its presence overseas.

Middlesbrough-based Psyche has turned to international trade body UKTI in a bid to further explore export e-commerce markets having already expanded into the USA and New Zealand.

Psyche achieved success equating to a 32% growth in sales during the period from August to December 2015 from exports to New Zealand and the USA and is now targeting China, the Middle East, France, Germany, Poland, and South America.

As part of this ambitious growth plan the company is extending its flagship Linthorpe Road store with work on a new administration block due to complete by the end of August. The company is also looking to recruit new staff in dispatch, customer service, content generation, photography and modelling.

Steve Cochrane, Psyche’s managing director, said: “Having the support of experienced advisors who you can tell are really passionate about helping your business grow and who can help you decide which markets to target and give advice on the differences in business culture and approach is invaluable.

“We now feel we have the skills, experience, and crucially the support, needed to tackle the new markets on our hit list – and to succeed in those as well.

“Our overseas business has previously allowed us to employ 84 people in the North East, and we are having to recruit again - just to fulfil new orders coming in through e-commerce.”

Maria Dotsch, international trade adviser for the North East region, added: “Psyche has quickly moved on from being a North East and UK success story and has already had success in challenging overseas markets such as the USA and New Zealand.

“UKTI North East continues to work with Psyche to help them use the experience they have already gained to maximise their opportunities in their new target markets.

“Their overseas success is allowing them to expand and recruit at home – which is also great news for the region.”

 

If you’ve enjoyed this article, click on the link below to sign up for more similar stories in your region.

Bqlive BQB Sign Up Button NE