Premier Ship Models of Potters Bar, Herts, wins the Queen’s Award for Enterprise 2021 (EMBARGO APPLIES)
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********Not to be published or broadcast before 1am on 29th April 2021 GMT**********
Makers of the world’s largest ship in a bottle, honoured with the UK’s most prestigious business award for international trade
Potters Bar, Herts, 29th April 2021. Premier Ship Models Ltd (‘PSM’) today announced that the company has been awarded the Queen’s Award (‘QA’) for Enterprise, in recognition of the company’s excellence in international trade.
PSM develops, manufactures, markets and supplies model ships and yachts for the corporate, trade and consumer markets. Founded in 2001 by CEO Rashid Lalloo, the company has been growing at an average annual rate of 25% in the last four years. Despite the global pandemic, PSM saw continued international sales growth during the global lockdowns, when many consumers adopted model making as a pastime.
PSM’s award-winning offering consists of:
• Custom models for the corporate market
• Model boat and ship kits for hobby enthusiasts
• Bespoke display cases for museums and corporate offices
• Model restoration
• Design services
• 3D / CNC printing
• Architectural models
The models are sold internationally via e-commerce websites for the UK, USA, Australia and France. The company lists some of the world's most famous international museums among its 180+ corporate clients including Oman’s Across the Ages Museum and the Danish Maritime Museum (opened by HM Queen Margrethe 11). Closer to home, clients include the BBC (which commissioned models for set production) as well as the National Maritime Museum of London (with the world’s largest ship in a bottle). Other corporate clients include P&O, Maersk, Sunseeker, BP, BT and the American Museum of Natural History.
Export sales account for about 80% of the company’s business, made up from sales to 85 + countries to date. Notably, in a post EU environment and at a critical time for British exports, PSM’s global reach is still accelerating. The latest enquiry is from Mongolia, which re-emphasises the extent of the reach of digital businesses. 2020 saw the company’s footprint expand further as it launched a new dedicated website for the Middle East with a Far East website to follow this year.
PSM CEO, Rashid Lalloo (pictured), commented “The Queen’s Award for Enterprise is truly a coveted award for any business to win; and to be recognised for our contribution to international trade reflects the global appetite for our products. It is a real honour for us and gives a fresh impetus for our business. Personally, despite struggling to build even flat-pack furniture, I am in awe of the skills of our model making team and partners when I see the quality and detail of the completed models. I was born in Mauritius (a country with a strong maritime history) and have always been interested in model ship building. The business was launched 20 years ago to the day of winning this award, and over this period we have had the opportunity to have met so many interesting people as well as experiencing some troubled waters along the way. I am fortunate that my background in shipping, trade and finance has helped steer us on the right path.”
The models are accessible to a range of budgets and abilities. The beginner kits cost approx. £50 and contain 10-50 pieces, whilst the more advanced can exceed 5,000 pieces and cost £1,000+. The corporate and bespoke markets have really taken off as models have been made for royal families in the Middle East. We built the HMS Victory ‘in a bottle’, which stood on the 4th plinth in Trafalgar Square (a project commissioned by the previous Mayor of London, and now Prime Minster, Boris Johnson). Our model was eventually sold to the National Maritime Museum (where it is now displayed), for approx. £300,000.
The company’s models play a significant role in global history and culture, with certain historic models being popular in their counties of origin. The USS Constitution and Mayflower models are very popular with customers in the USA, whilst the HMS Victory and Cutty Sark models are well-liked in the UK, with Australians loving the HMS Endeavour and HMS Bounty models. The company has even restored a 300-year-old model of HMS Albion for a historic maritime organisation.
The business currently employs seven people in the UK and thirteen in Mauritius. It is expected that within the next 12 months additional staff and agents will be recruited, as the company continues to expand internationally. Looking to the future, the company is working with three Masters’ students from the Universities of Brunel and Cambridge, in partnership with Santander, to help grow its supply chain. It is also collaborating with King’s College London on a project to identify new customers in model cars, train and airplane markets. This exciting venture is to transform the company into Premier Scale Models and as such PSM is actively seeking new partners to collaborate with.
When it comes to special edition ‘collectors’ projects, PSM is proud to fly the flag for Britain. Now, quite literally, the company will be launching exclusive models that display the Queen’s Awards’ moniker on the packaging.
To celebrate winning the Queen’s Award for Enterprise, PSM has decided to release a Limited-Edition model to commemorate the Late Prince Phillip’s Naval Service. The model will be a replica based on the HMS Magpie F82 of which the Duke of Edinburgh took command on 2nd of September 1950. He was made Lieutenant Commander for the position and continued to command the newly designated Frigate Class vessel through the Mediterranean until she participated in the Coronation of Queen Elizabeth II in 1953.
In conclusion, grateful thanks are offered to UKTI and UKEF, the Hertfordshire Growth Hub and Hertfordshire County Council, for their support to the business. PSM would also like to give special thanks to EDB and SME Mauritius. Finally, heartfelt thanks to all the staff, wonderful network of international agents, close family members and the investor who have all been instrumental in the prestigious award.
About the Queen’s Awards for Enterprise
Now in the 55th year, the Queen’s Awards for Enterprise winners include some of the UK’s most successful organisations including J.P. Morgan, Adnams Brewery, Rentokil, Veolia and Willmott Dixon. This year, there are 38 London-based QA winners, with only 22 of those for international trade.
The next ceremonial steps for PSM include attendance at a Royal reception, presentation of the award by The Queen’s representative, (Lord-Lieutenant), receipt of the Grant of Appointment (an official certificate) and a commemorative crystal trophy (date and venue tbc). PSM will feature in a special edition of the London Gazette, published in April, which will carry the names of all of 2021’s 205 winners. The London Gazette is the oldest English newspaper and is an official journal of record of the British Government.
As proud winners of the QA, PSM will be able to fly The Queen’s Awards flag at its main office and display the emblem its marketing and packaging materials.
The awards are valid for 5 years.
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