A Cornish company that manufactures sustainable packaging for surfboards and drinks products is forecasting £2m of sales across the Atlantic after breaking into the US market.
Flexi-Hex has seen its exports grow by 2,200% to the US, since 2019, and its sales to the American market are now expected to reach more than £2m by 2026.
Flexi-Hex is now sold in 28 countries, linked to strong e-commerce sales. The business has seen solid sales growth in Europe, Australia, New Zealand, and the US. In the past 24 months, export sales have made up to 31% of revenue.
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The business was co-founded by twin brothers Will and Sam Boex who wanted to create a sustainable packaging solution for surfboards. The patented honeycomb sleeves are made of 100% recycled paper and biodegrade within eight weeks.
In October 2021, the Porthleven-based business, secured a £1.25m investment - including £500,000 form Cornwall and Isles of Scilly Investment Fund (CIOSIF) and backing from multiple angel investors - which will enable it to boost exports and create jobs.
And now, with support from the Department for International Trade (DIT), it is cracking the USA. The company’s export sales have continued to grow, especially through the pandemic and various lockdowns around the globe. Since 2018, the business has received support from DIT including help to develop an export strategy.
Flexi-Hex also took advantage of the Export Trade Forum project, a European Regional Development Fund (ERDF) funded programme in Cornwall and the Isles of Scilly which aims to equip businesses with the skills they need to export successfully overseas.
Will Boex, co-founder of Flexi-Hex, said: “My advice to other businesses is to get in touch with DIT as they will be able to answer any questions you have. Start small and make sure your product can sell.
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“The US is very different from the 海角视频 and Europe and just because your product is selling well in the 海角视频 and Europe, it doesn’t necessarily mean it’ll sell there. You need to make sure you gain traction and build your brand there gradually.”
The US is the 海角视频’s largest single trading partner, with total trade reaching more than £196bn in 2020, and more than 1.4million people in the 海角视频 working for US companies.
In 2019, the 海角视频 and US had more than £760bn invested in each other’s economies, creating high-skilled jobs and supporting our communities.
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Paul Shand, head of trade for DIT in the South West, said: “Flexi-Hex’s success in the US demonstrates the strong demand for high-quality 海角视频 goods overseas.
“DIT provides a range of services to help businesses on their export journey, including the Export Academy and Export Support Service. Businesses with strong ambitions to grow overseas should consider these as starting points on their journey. Companies such as Flexi-Hex may well benefit from future Trade Deals, working with DIT will ensure they are kept abreast of developments and opportunities.”