Panache Lingerie has won the Queen’s Award for Enterprise in the International Trade category, in recognition of the brand’s continued international growth.
The Queen’s Awards for Enterprise is an awards programme for British businesses and other organisations who excel at international trade, innovation or sustainable development. To be awarded the Queen’s Award for Enterprise in the category of International Trade, a company must show a substantial and sustained increase in export earnings over three consecutive 12-month periods, to a level which is outstanding for the products and services concerned, and for the size of the organisation.
Awards are made on the advice of the Prime Minister after examination of applications by an Advisory Committee composed of leading individuals from industry, commerce, trade unions and government. Queen Elizabeth II confers the awards on her birthday every year on April 21.
John Power, Managing Director of Panache Lingerie commented: "Panache also won the award in 2002 and it comes with fantastic recognition and respect internationally as well as opportunities in new and existing markets. I am incredibly proud of the whole team and everyone involved, it’s a testament to everyone’s hard work. Panache continues to be a strong sales organization that is continually growing in sales."
Panache is currently sold in 53 countries worldwide and has offices in New York, Germany, New York, Hong Kong as well as Sheffield, the city it was founded in.
Whilst still a family business, the company has increased its overseas sales by 427% over the last six years. It has entered key markets by targeting luxury multi-channel retailers, such as Nordstrom and Bloomingdales in the USA and Manor in Switzerland.
The company’s main export markets are the USA, Australia, Poland, Germany and Canada. A direct sales office has been established in France that has achieved turnover of £500,000. Panache also has sales offices and distribution in the USA, Canada and Germany.
Previous winners of the Queen’s Awards include the Pentland Group, Siemans, Toyota, Lotus and B&Q.
Other winners of the 2013 awards include Nails Inc, The Cambridge Satchel Company and I Love Cosmetics lTD.
The award will be presented at Buckingham Palace in the summer.