Tribù seizes crisis as an opportunity for innovation and future growth
Zutendaal/Hasselt, Tuesday November 17, 2009.
Tribù, specialized in the design and sale of outdoor furniture, sees opportunities in the crisis to strengthen its market position and expand the company for the future. LRM enforces these claims and provides extra oxygen for growth.
Tribù designs and sells exclusive outdoor furniture. The commercialization takes place under the brand names of "Tribù", the top collection characterized by its timeless design, and "Versus by Tribù", with a more Mediterranean character. Clean lines in the design and power by simplicity are the theme of the entire collection.
Distinguishing ability, a trump card in a time of crisis
Tribù is a clear trendsetter in the sector. Its designs are characterized by the high-quality and sustainable materials used and their timeless design. Unfortunately, there are a lot of imitations for sale. The best way to arm against this is by enforcing innovation in the field of design, materials and complexity of the product. As a producer of top collections in mostly relatively small series, it was not always possible to gain access to the latest materials or companies that implement the latest innovative production techniques. "It can be difficult to, for example, convince a specialized supplier in the automotive sector to collaborate in the production of a top collection of outdoor furniture" explained Lode De Cock, CEO of Tribù. "The economic crisis has changed all of this and represents an opportunity for us to introduce new techniques in our new designs. This allows us to justify our image as a trendsetter and continue to distinguish ourselves from our competitors. A good example is the Neutra collection. The frames for this collection are made out of aluminium which is injected under high pressure; the same technique as is used in the automotive industry to produce gearboxes. The advantage is complete form freedom, a smooth surface finish and a very strong, seamless product".
Internationalization and project market
Unfortunately, Tribù has also been affected by the crisis and expects a reduction in turnover over 2009 of 11%. However, as the company is active in fifty countries, it is a lot less vulnerable in times of crisis. This strategy is further extended and strengthened. Tribù will invest more in its international customer portfolio, but will also focus more on the important project market.
Tribù can always demonstrate great references in the project market, including: the Flemish Parliament and the Faculty Club in Belgium, as well as the Royal Palace in Amman, the BBC offices in London, Air France in Paris and several luxury hotels, such as the Sharon Hotel in Israel, the Intercontinental in Abu Dhabi, the Mariott in Singapore and Carbon in Genk. In the future, Tribù will be investing even more, to turn this market into a fully fledged sales channel.
Oxygen for growth
Growth costs money, especially in times of crisis. To realize Tribù's ambitious plans, LRM is investing 500,000 Euros. These extra means will be deployed to finance growth and bring two new collections to the market faster. In a period of five years, the idea is to have the turnover grow to 20 million Euros.
"We are proud of the fact that we can add Tribù to our list of portfolio companies" stated Stijn Bijnens, General Director of LRM. "Tribù is a prime example of innovation and creativity, as their success in the export field proves"
About Tribù
Tribù is an internationally acclaimed company specialized in luxury outdoor furniture. Its collections are sold in 50 countries worldwide and characterized by a modern but timeless design, high-quality materials and a refined detail finishing. Discrete luxury and technical perfection is Tribù's trademark. Two brands are marketed commercially: the architecturally inspired 'Tribù' and the more atmospheric 'Versus by Tribù'. Both collections are supplemented by an umbrella collection, 'Eclipse by Tribù'.
www.tribu.com
About LRM
LRM is a profit-oriented investor, offering entrepreneurs a unique combination of risk capital and real estate. Oxygen for growth!
LRM is a generalist, but has developed specific competencies in ICT, Life Sciences and Cleantech. LRM's activities contribute to the economic development and general employment in the province of Limburg. It targets all sectors and companies, from starting companies to growing SMEs and larger businesses.
Access to LRM runs via five domains: ICT & Media, Life Sciences, Cleantech & Energy, SMEs and Large Businesses.
www.lrm.be
Further information
Tribù
Lode De Cock
T +32 89 61 27 50
E info@tribu.com
LRM
Jeffrey Alenus
Commercial Director
T +32 11 24 68 19
M +32 475 93 03 61
E j.alenus@lrm.be