WORLDWIDE logistics firm, PSP, is hoping to open joint venture offices in the USA and South Africa and increase its turnover by at least £1m as a direct result of its Clipper Round the World Yacht Race sponsorship.
The targets were unveiled as the company gave more details of its ambitious growth plans at the opening of the PSP Southampton Boat Show today (September 13).
The Clipper Round the World Yacht Race takes place every two years and sees amateur sailors battle it out on the water in a series of races around the world over 11 months. They are joined by professional skippers on the 70-foot, stripped down racing yachts and stop off at countries such as Brazil, Australia, China and South Africa.
In late August, PSP took sponsorship of a boat in the race and the firm waved off its team, ‘PSP Logistics’ as it set sail from London on September 1.
Now, as the team is headed towards Rio De Janeiro in a strong position, managing director Frank Dixie has announced that the company hopes to increase its turnover by at least £1m in the next 11 months as a result of its latest sponsorship deal.
The Hampshire-based firm plans to achieve this growth by penetrating markets overseas, making in-roads at four particular stopovers that the race makes around the globe. These stopovers are in South Africa, Singapore, China and the USA.
PSP, which is also Official Logistics Partner for the race for the third event running, will fly out to the four stopovers and set up ‘pop up’ offices within the race village. It is hoped that the face-to-face meetings help PSP win business over its competitors.
The stopovers will also act as reconnaissance missions for PSP, which also hopes to set up joint venture offices in San Francisco and Cape Town following its visits.
Frank Dixie said: “Our sponsorship of the PSP Southampton Boat Show helped us boost our marine division to account for 20 per cent of our turnover. More than that, it allowed us to break into the heavily competitive market and provide a real alternative logistics partner for race teams, sailors and boat manufacturers.
“Now we are looking to extend that growth through our latest sponsorship of a team in the Clipper Race and I am confident that we can boost our turnover by £1m, if not £2m, as a direct result of the relationships we make in the next 11 months.”
As well as the opportunities presented at the stopovers, PSP will benefit from brand exposure across the world as its team competes in the race. The company will have heightened exposure in Panama as this year, the leg from San Francisco to Panama will be called the ‘PSP Logistics Challenge’ to mark the 100th anniversary of the structure. The winning team will be awarded the PSP Logistics trophy.
PSP’s sponsorship of a team and boat in the Clipper 13-14 Round the World Yacht Race follows the pledge it made at last year’s PSP Southampton Boat Show to support the show, the marine industry and the sport of sailing.
To find out more about PSP visit www.psp-logistics.com and to keep track of the PSP Logistics Team in the Clipper 13-14 Round the World Yacht Race visit www.clipperroundtheworld.com.