I closed International Trade Week 2011 in the North East recently with a speech about the UK’s successes - and James Averdieck of GU Puddings was our guest speaker .
It was great to meet James - an ex-Durham University student, with great affinity for the North East. He has grown GU to a £40M p.a. business since 2004, after leaving St. Ivel brand management . It made me realise that high quality innovation really is an excellent way to capture an international market and build a high growth business.
High Growth GU puddings has achieved year on year growth, launching in successive markets, understanding their product, and driving sales upwards each year through market diversification. James told me he is currently working on launch plans for the USA, having successfully captured Scandanavia, Germany, etc. GU is now shipping some 50,000 puds a month! In years one and two (only 5 years ago!) turnover doubled, then doubled again . Imagine - he's now selling souffles to the French , and chocolate to the Belgians !
High Quality James said that he never compromised on quality. His puddings contain a high quality cocoa, with a higher percentage of cocoa than is usual. The packaging (glass ramekins) adds to the feel and experience. All ingredients are high quality and certified.
Innovation James went on to say at GU HQ he encourages all staff to propose ideas, to product test (puds are left out everyday for staff to test - they have a chocolate table with lots of items all awaiting appraisal) and to try out new ideas. Product failure is ok, as long as it is advancing the business constructively. James himself recounted his early product testing - actively seeking out the public's reaction to his puds by talking to shoppers in the aisles at supermarkets .
It was a delight to meet James, and to discuss his ideas for going forward. He left the audience rushing out to buy a few GU puds. Since then, I’ve sampled a few items in his range myself and can recommend! Enjoy!!