NEW START // ISSUE 6 // 49
THE IOD'S DAVID WATT
BEEN THERE, DONE THAT
MICHELLE MONE
Underwear tycoon Michelle Mone is
set to launch a new range for men.
Having built a strong brand in
female underwear, her company,
MJM International, is rumoured to
be worth over £50 million.
DAVID & VICTORIA BECKHAM
Brand Beckham is estimated to be
worth £275 million.
But diversifying doesn’t Offering a new product or
While Victoria has (sensibly) left
always mean new products services costs time and
singing behind and now
and services, it can simply money, but it can be
concentrates on her fashion range,
mean tapping into new rewarding. According to
she recently made headlines after
markets or delivering services Defra, around 50% of farms
posing in her undies for Armani's
in different ways. in the UK supplement their
new Spring/Summer collection.
traditional income through
And David has yet again topped
It can be tempting to stick to farm diversification. As well
the footballer players’ rich list.
what you know, particularly as providing supermarkets
Having secured many advertising
in tough times, but branching with their products, many
deals for global brands such as
out can often mean the farmers also set up farm
Adidas, Vodafone and Pepsi, his
difference between success shops, selling their produce
name has been leant to fragrances,
and failure. or turning unused buildings
computer games and even pens.
in to accommodation or
It doesn’t have to mean huge offices. On average, the
STELIOS HAJI-IOANNOU
changes. Training companies additional income per
Best known as the founder of
who offer courses aimed at diversified farm totaled
easyJet, the budget airline, Stelios
senior management, could £14,500.
started his career with his own
consider changing their
shipping company, Stelmar
course to suit junior Last year, online retailer
shipping. Having sold the business
management. Hair and Amazon – which started life
for $1.3 Billion, Stelios went on to
beauty businesses could look as an online book store -
build the easyGroup offering to
into adding a retail side to enjoyed its best Christmas
include cars, cruises, buses, hotels
their business, selling the ever as more customers
and even internet cafes.
products they use. It could opted to buy online. In the
even be as simple as UK alone the company sold
RICHARD HAMMOND
considering new over 1.4 million items –
From local radio journalism to one
geographical areas. equivalent to 11 orders per
of the BBC’s most loved presenters,
second. The company
Richard Hammond knows that his
While you may not be ready succeeded in diversifying and
Top Gear days won’t last forever.
to take your business global, now offers everything from
Instead of planning to join the
exporting beyond your power tools to jewelry.
after-dinner speaker brigade,
current market could mean
Hammond took things into his own
new business. If you only Even one-time clothing giant
hands. Having launched his own
operate in Scotland, could Marks and Spencer has had
production company, Hamster’s
you market your business to to branch out. The company,
Wheel, Hammond has landed a £2
the rest of the UK? A flight to which started as a single
million deal with the BBC to
London can take the same market stall in Leeds, now
produce a new children's science
time as a train journey from sells financial products such
series, Lab Rats.
Glasgow to Edinburgh. as insurance, credit cards
Extending your reach can and loans as well as food
open up whole new markets. and home goods.
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