The challenge permalink
This company produced high-end artisanal candles sold in the specialty market. Despite high margins, the business struggled with working capital. Interest from retail buyers led management to chase speculative projects that strained resources.
The Virtuoso approach permalink
We implemented a process to identify the core strengths of the business and set mechanisms to discourage chasing speculative projects. We also cleaned out the warehouse and liquidated slow-moving inventory, developed forecasts and presentations to renegotiate terms on a line of credit with the company's bank, restructured sales operations and implemented a new product development funnel.`
The results permalink
- Received support from the bank with a new line of credit and support for new strategy
- Created new line of lower-priced products under a sub-brand to engage new consumers without diluting the existing brand
- Presented sub-brand to specialty retailer for private label arrangement
- Revenue doubled on a lighter-weight chassis
Now is the Time permalink
Virtuoso Strategic Group is a boutique consulting firm formed to deliver extraordinary value to its clients. We pride ourselves on alignment with the fortunes of our clients and an unwavering commitment to their success. We welcome you to start the conversation today.