Banbury-based Gusto, which designs and manufactures mobile phone products, has increased its turnover by £4.5 million to £6.5 million since starting-up the business in 2012.
The company now plans to invest in international growth, opening two new bases abroad to increase its foreign customer base, following a recent relocation from Coventry to larger quarters in Banbury to house staff and products.
Gusto’s ‘Juice’ branded mobile charger launched the company into the UK mobile technology market in 2012, selling 2,000 units in its first week of sale. The company has since expanded its product lines to include phone covers, portable chargers and speakers.
Supplying many well-known British retailers, its products are sold across 5,000 retail stores in five countries worldwide and it has plans to increase its range of products further, with six new lines being developed in time for Christmas.
To support the firm’s increasing order book, owner Jolyon Bennett, plans to increase his members of staff by more than 25 over the next six months, in addition to the 12 already employed.
Jolyon said: “I have the ambition to make Gusto the largest seller of mobile phone accessories in the world and I am continuously looking for ways in which the company can grow. Through the overdraft facility provided by the bank, the firm is supported if any unforeseen costs occur.
“As Gusto regularly deals with suppliers in China, I have the peace of mind that any exchange rates are locked in on a contract through the foreign exchange service. With Lloyds Bank Commercial Banking dealing with payments my time is freed up to concentrate on other areas of the business. Peter, my relationship director, has been supportive from the word go and could see the company’s potential for success.”