HONG KONG, Nov. 19, 2015 /PRNewswire/ -- Vertu, the English manufacture of luxury mobile phones, has secured new investment for its business, allowing the brand to embark on the next phase of growth.
Vertu will continue to operate its global business from its UK Headquarters with new partner, Godin Holdings Limited, a Hong Kong based company backed by a group of international investors. This move will support accelerated growth for Vertu and maximise its Luxury Tech leadership position.
The company's new investment partner brings with it a significant understanding of the world's fastest developing luxury market, China, as well as an ability to help with the technical development of a future range of industry leading Vertu products.
Vertu had three successful years PE investment (2012-2015) during which time a number of significant steps were made, including the streamlining of the company's global business operations and the development of a cutting edge product portfolio. At the end of 2015, Vertu's international profile was larger and more relevant than at any previous time in its history.
Management changes
As part of the new investment, a number of changes have taken place within Vertu's management.
After exactly three years with Vertu, Massimiliano Pogliani stepped down as CEO at the end of October 2015. He had joined the company in October 2012, immediately embarking on an overhaul of the Vertu brand and organization. Speaking from Vertu's UK headquarters in Hampshire, England, Massimiliano said, "I have enjoyed my time with Vertu immensely and am proud of what has been achieved over the past three years. Now, with the successful transition to a new investment partner complete, it is an appropriate time to pass on the baton of leadership to a new team. I look forward to reading of Vertu's continued success over the coming years."
In other changes, Justine Rouch, Chief Operating Officer and Davide Vassena, VP Product and Marketing, have both also left the company.
Billy Crotty has been announced at Vertu's new Chief Executive Officer.
Billy said, "We would like to thank Massimiliano and the outgoing executive team for their hard work and dedication during their time with the company. Vertu now begins another exciting chapter in its history."
He continued, "We have a clear vision for the next phase of our growth and we have an executive team well placed to lead Vertu to deliver it. Vertu is regarded as the clear leader in the luxury mobile category; a company with a strong USP, brand equity, product roadmap and established retail network; the 'Handmade in England' aspect of Vertu is appreciated globally as a particularly valuable, fundamental brand strength. Godin Holdings investment will allow Vertu to maintain its leadership position within the luxury technology industry and to expand it's already world class product portfolio. The Godin Holdings Limited team has significant understanding of the world's fastest developing luxury market, China. Mainland China is a key market for Vertu, alongside its other pan-Asian and European business. All in all, the Godin team are perfectly placed to offer both investment into the company, as well as mobile technology industry expertise and contacts. Godin believes that significant growth opportunities lie ahead for Vertu, within specific markets as well as through new product developments."
Pivotal to this are our plans to expand and capitalise on Vertu's strong and globally renowned services suite, under a new banner title of Vertu Club. Vertu Club will be the umbrella for the evolution of our on-device and off-device Services. Vertu Club is seen by the management and Board as critical to the future success of Vertu. Our aim is to ramp up the already very close relationship we enjoy with our customers through Concierge, Life and Certainty apps, in order that it can inform, to an ever increasing degree, not only the portfolio of services we offer, but the manner in which we do so, in order that we create a world class personal service, unattainable in any other format than that which can be achieved by being a member of the Vertu Club.
UK Manufacturing
Vertu's business will continue to operate from its UK based headquarters and manufacturing facility in Hampshire, England, where around 450 people are employed. The company has a further 450 people based in its sales regions around the globe.
All Vertu products are designed and manufactured in the UK. The company has operated from its Hampshire base since 2000, shipping its first phone in 2002. By 2015, Vertu had sold around 450,000 devices worldwide, with an average selling price of around GBP5,000 last year.
Notes to editors:
About Vertu
Vertu aims to deliver the world's best luxury mobile phone experience for its customers by combining expert craftsmanship and peerless materials with innovative technology and unique services. Today, Vertu leads the market that it pioneered over a decade ago.
The Vertu range of mobile phones is made up of three distinct models -- Signature, Signature Touch and Aster. The Vertu Audio Collection comprises V Headphones (HP-1V) and V Speaker (SP-1V). Vertu mobile phones are handmade in England using the world's finest materials, with each one assembled by a single craftsman.
Vertu is renowned for its curated services; a suite of carefully selected exclusive offers, content and assistance especially selected to enhance the Vertu customer's lifestyle. At the heart of these services is Vertu CONCIERGE, offering luxury lifestyle assistance and enrichment. Vertu CONCIERGE is on-hand 24/7 to facilitate your every request. Vertu LIFE offers personalised recommendations and privileged access to experiences and events. Vertu CERTAINTY delivers security for customers, their data and their phones.
Vertu is available from around 500 stores, including 70 Vertu Boutiques, in 66 countries.
For more information please visit vertu.com or the Vertu Media Library media.vertu.com.
