Britain's last teddy bear maker selling more post-Brexit

A file picture of collectors' teddy bearsdressed up in designer wear like Louis Vuitton,Prada, Gucci and Guess made by manufacturers like Germany's Steiff and Britain's Merrythought.
A file picture of collectors' teddy bearsdressed up in designer wear like Louis Vuitton,Prada, Gucci and Guess made by manufacturers like Germany's Steiff and Britain's Merrythought.PHOTO: MIN HEART ART

Even as financial experts forecast doom and gloom for businesses post-Brexit, one company is bucking the trend.

Britain's last teddy bear maker, Merrythought, has seen its sales go up by 20 per cent last year on the back of higher export opportunities after the historic referendum in June.

Revenues at the Shropshire-based company increased from £270,000 (S$481,600) in 2015 to £325,000 last year, helped by a weaker pound and growing interest overseas, reported the Financial Times.

Retail revenues also rose 10 per cent from non-EU sales.

"We are hoping that will gather pace," its director Sarah Holmes told the paper. "Brexit is going to be a significant motivation for our business. We recognise there are great opportunities for export for our brand, but we haven't directed resources towards it (as yet)."

Brexit has given it the opportunity to re-visit the American market, which was significant in the 1990s. Merrythought is also looking towards Australia and China, where the luxury market is growing.

The teddy bear manufacturer sells mainly to businesses and goes after collectors of teddy bears. A limited edition bear to mark the Queen's 90th birthday last year, for instance, sells for £259.