A SPECIALIST sports products company which has a design and marketing office in Staveley has won the Queen’s Award for Enterprise in International Trade.
Inov-8, which manufactures specialist sports products used in off-road running and fitness markets, has become famous for the grip achieved by it's running shoes.
The company has posted ten successive years of record sales and seen huge growth in its markets across the globe.
It was founded in County Durham in 2003 by Wayne Edy, a former consultant in the outdoor industry, who spotted the opportunity to innovate in the off-road running market.
The company, which also has an office in Boston, USA, has achieved an average of 60 per cent growth per year in the last five years. Mr Edy says 77 per cent of sales are outside the UK.
“I am so proud of what our team has achieved throughout our first decade in business,” he said. “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.
“On the back of that we have been able to strengthen our team significantly. At our Staveley hub alone, we have recruited over 20 new employees in the last two years. We will continue to add to our team and develop more young talent as we move forward.”