Having founded but lost control of The Gadget Shop, which featured on the Fast Track 100 in 1998, Jonathan Elvidge’s second venture as an innovative gift retailer was co-founded with Joth Baron. Start-up funding was from Peter Wilkinson, the man behind Freeserve. Red5 offers 600 products in its stores nationwide and in Hamleys, Selfridges, Boots, BHS and House of Fraser. Notable gifts include Appblaster, a piece of hardware to play “shoot ’em up” games on the iPhone, and a remote-controlled helicopter that fires plastic missiles. Thanks to collaboration with other retailers, sales rose 82% a year, from £1.8m in 2007 to £10.8m in 2010.
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.