PLAY RETAIL LIMITED
Play Retail is a strategic design agency, working with major brands, such as HFC Prestige Products, Philips, Nars and Sony to create innovative retail displays and spaces. They specialise in the design and production of disruptive shopper experiences, using interactive tech and displays to drive footfall, sales and shopper engagement. With the funds raised they will add off-the-shelf offerings to their range for smaller clients, hire more staff and invest in marketing.
We believe in the power of play.
Crafting personalised connections with shoppers and immersive, sensory digital experiences in-store are fundamental to success in today’s retail landscape. We've helped some of the world’s biggest brands to engage with their shoppers. From virtual reality nail varnish try-on experiences for OPI to an interactive digital table and projections for Ballantine's whiskey road-show unit, we create “wow experiences” that set brands apart.
We are looking to add off-the-shelf offerings which are accessible to smaller clients, enabling us to take on work from a wider range of brands. Along with this, we will invest in marketing to reach this segment of the market and expand our specialised services further by recruiting more staff.
Where will the funds go?
A. we Want to continue to strengthen the current team and are looking to add someone with relevant marketing and PR skills.
A. We currently use bespoke software for many of the units but want to be able to offer the same technology to more of our clients, we aim to develop a range of off the shelf software that can be adapted for specific clients and will therefore be more affordable for them. Retail is changing and we are already designing interactive display units, we want to be able to offer more to a wider range of clients, at more affordable prices and faster.
A. Hi Elizabeth, that should have been HFC Prestige Products (the Page has now been updated). We have done a lot of work with Coty, the OPI nail bar on the video/website was a major project last year.
A. In 2019 we had a large production project for the manufacture of 400 OPI Nail Bar units (shown on the video) which was around 70% of total CoS, the total project was around £1.5m revenue, CoS for that project £1m. We have a mix of design and production work, design work is done by our creative team and therefore minimal CoS, production CoS is up to 70% of the revenue for the project. We expect overall CoS to stabilise at around 50% of total revenue for the current year.
A. Hi Sherry, we had a number of significant costs that contributed to the loss in 2019:
1. We relocated to London
2. We had a reorganisation if staff which led to some posts being made redundant and positions relevant to the success of the company being created.
Overall, this cost the business £110k, without the restructure profits would have been around £100k.
I hope this answers you question.
A. Hi Michael, these funds are specifically for Play Retail and not for any other businesses the directors are associated with, our Financial Controller at Play is very strict on how we use any funds within the business and will ensure that these funds are ring fenced for Play.
A. Hi Jakob, we are constantly bringing on new projects and have a pipeline forecast of £1m for this year. We did some restructuring to the business last financial year which impacted overall profit, but we are in a stronger position now. We are monitoring all costs very closely and have implemented new controls to keep within budgets for projects and therefore we expect GP to catch up by the end of this financial year (March 2020).
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