A mid-west furniture manufacturer with annual revenue of $80 million, developed a new product that was languishing in the market. AsiaGlobal’s principals perceived an opportunity and submitted a proposal for both product and sales channel development, the client bit.
AsiaGlobal recognized the client had an opportunity to pivot sales channels and recommended the creation of a new division focusing on the new, emerging channel. A product development effort was launched to introduce feature/benefits in the company’s core products that caught the eyes of decision makers in the new sales channel.
Within three years the overhauled products brought in more than $20 million in revenue. The clients’ gross margin on the new line was also well above company average. Furthermore, a new customer AsiaGlobal introduced to the client rose to become the company’s single largest customer.