Since appearing at No 86 in last year’s Fast Track 100 league table, the toy maker P&M Products has set up a wholly owned subsidiary in America after research revealed a sharp difference in sales performance between American and European distributors. P&M Products USA was quick to win contracts with the retailing giants Wal-Mart and K-Mart and achieved sales of $5.5m in its first year of trading. Key products, now sold under the Color Workshop brand, are the Blopen, which mixes ink with air to create airbrush effects, and pastel gel colouring kits created specially for the American market. P&M, founded in 1992 and based in Redhill, has seen sales increase at 77% a year, from £1.7m in 1996 to £9.7m in 1999, results that gained it a Queen’s Award for Enterprise this year. Doug Eaton, managing director, stays young by playing in a rock band and by spending time with his six children.
This profile reflects the company at time of publication and does not reflect any changes that may have subsequently occurred. Fast Track and its sponsors do not endorse, guarantee or recommend investment in any of the companies.