inov-8 Presented With UK’s Most Coveted Business Award

inov-8 Presented Queen’s Award for Enterprise in International Trade / 06.08.2014

inov-8 has been presented with the Queen’s Award for Enterprise in International Trade.

This is a huge achievement for the company as the award, which reflects outstanding achievement in the global market place, is the UK’s most coveted commercial prize and highest accolade of business success.

The presentation was made at inov-8’s Crook office in County Durham. Proud staff watched on as the Lord-Lieutenant of County Durham Mrs Sue Snowdon handed a certificate and glass bowl to company founder Wayne Edy.

During her speech, Mrs Snowdon said: “As the representative of Her Majesty the Queen I am charged to perform many duties but one I particularly enjoy is the presentation of the Queen’s Award for Enterprise.

“These awards are not easily gained and reflect outstanding achievement in the global market place. They recognize hard work, vision and commitment by both employers and employees. It is hardly surprising therefore that they are highly prized and recognized the world over as a hallmark of excellence and the highest accolade of business success.”

inov-8, which designs and manufactures specialist sports products in off-road running and functional fitness markets, has become famous for the grip achieved by its shoes. 

The company has posted ten successive years of record sales and seen huge growth in its markets across the globe.

Born in County Durham in 2003, inov-8 was founded by Mr Edy, a former consultant in the outdoor industry, who spotted the opportunity to innovate in the off-road running market.

Initially operating out of a coach house in his garden (Stanhope) and then an old church hall (Wolsingham), Wayne launched his first shoe, the mudroc. 

Aimed at fell and mountain runners, the mudroc weighed just 290g and delivered outstanding grip through an aggressive outsole. The shoe proved an instant hit.

Since then inov-8’s range has gone from strength to strength, with athletes across the world discovering the brand’s shoes, apparel and accessories.

Today inov-8 trades in over 60 countries and earlier this year won a trio of prestigious ISPO awards for delivering innovative, industry-leading product in all three of its categories, namely footwear, apparel and accessories.

inov-8, which has two offices in the UK at Crook (County Durham) and Staveley (Lake District) and one in the USA (Boston), has achieved an average of 60% growth per year in the last five years.

The fact that 77% of sales are now outside of the UK, and to win the Queen’s Award for Enterprise in International Trade, is a marker of the speed of inov-8’s growth across the globe.

inov-8 founder Wayne Edy, who also recently attended a gala reception at Buckingham Palace where all winners met The Queen, said: “We have received many awards but this one is the most prestigious yet.

“I am so proud of what our team has achieved throughout our first 11 years in business. This award reflects their hard work and relentless desire to constantly deliver innovative products, which has led to commercial success.

“We are pioneers within the industry and thanks to the distinctive culture we have built, we continue to grow across the globe, seeking out distribution partners with the right profile and then working closely with them to drive sales. To achieve such rapid global growth in a highly-competitive market, and up against powerful companies boasting massive resources, is a real UK-born business success story.”

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