Trunki kids' suitcase brand owner Magmatic has outlined a big TV drive following the £4 million funding it recently acquired.
Rob Law MBE, founder and CEO of Trunki, said: “We can now put more into our UK and international marketing budget, so you’ll be seeing more TV [ad activity] from us. We’re also investing heavily in our international expansion. We’re growing the international sales team and we’re hiring a commercial director and a finance director.
“We’ve also got [former Hamleys chairman and The Body Shop MD] Stuart Rose on board.”
Trunki launched its first ever TV ad across a host of children’s TV channels throughout the Easter holidays earlier this year. The ad showcased the PaddlePak range, and was created by Aardman.
Trunki plans to repeat the campaign this summer.
Law was speaking to ToyNews about how his company secured £3.92 million from Business Growth Fund.
“Although the climate is bleak, we found it was a good time to get the investment. We felt ours was an attractive proposition in a market which wasn’t very stimulated,” he added.
“We spent a lot of 2012 looking at where growth opportunities lay and where we wanted to take the brand. We realised, to achieve that in a shorter time scale, we’d require extra funds to take a bit more of a risk with some of the ventures we were looking at.
“We ran a process where we sent Trunkis out to 19 private equity houses, with a calling card in to see if they were interested.
“12 entered the process and we did presentations to six that we felt were best suited to our requirements.”
Read our beginner’s guide to toy industry funding here.
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