Sinead and Adam Murphy of @shnuggle heading to Baby Show London
Shnuggle is a Northern Irish company founded by Sinead and Adam Murphy, a husband and wife who saw the need for affordable but beautifully designed baby products. The company launched in 2009 with the world’s first synthetic Moses basket. Designed to be quieter, stronger and more hygienic than what was in the market at this time. They founded the company with savings and personal loans and ran the business part time while working full time jobs.
Fast forward 8 years – Shnuggle is now a £2m revenue company, with approx. 50% of sales exported to over 20 countries. The team has taken private investment and venture capital funding and now have a growing portfolio of products, including the multi-award winning Shnuggle bath.
Shnuggle’s largest export market is presently Asia with strong sales in South Korea, Taiwan, Hong Kong & China. The biggest growth market for 2018 will be North America & Canada as the company has just signed up a new distributor who is well established in these markets. They expect to generate over $1m of revenue from North America in 2018, which will make this their biggest export market.
The vote to leave the EU was a disappointing outcome and one that has left much uncertainty for many businesses. The biggest impact the vote had on Shnuggle was the devaluation of the pound, as they import many of their products and pay in USD. They were forced to implement product price rises across the board – which directly affected the consumer. Looking forward to the exit date in 2019, they have concerns over access to the EU market and what, if any, tariffs will be imposed – however as over 50% of their business is export direct from China, it doesn’t enter UK customs space. For EU exports, if necessary, they will consider utilising a European warehouse to remove the risk of UK duties.
Adam Murphy, Founder & CEO gives this advice to private businesses that wish to expand: