In the lab with Alchemistic shortlisted in the Sheffield Star Business Awards 2012 as Retailer of the Year
9th October 2012
With the UK economy struggling to get out of this double dip recession, local Sheffield business Alchemistic have found success in helping retailers make a return on otherwise discarded products, whilst at the same time growing their business by over 300% in the last year.
Based on the success of the previous year and the bright future that is projected for 2013, Alchemistic were nominated and shortlisted in the final three for Retailer of the Year at the recent Sheffield Star Business Awards. The idea for the business came from current MD and owner Alistair Hague whilst on sabbatical, as a Project Manager within the construction industry, in the United States. Whilst staying with family he got talking to the neighbours, when politely asking what they did for a living, they said they were an 'eBay Trading Assistant', a job that is more common in the US and highly recognised by eBay. Intrigued by their answer Alistair used this information and started to mold a business model for the UK market place and Alchemistic was born. Initially the idea was to help sell items for individuals; friends, family and close relations, which was providing a steady income however soon after Alistair started receiving calls from local businesses, small boutiques that had leftover stock and slightly graded products. This is where Alistair saw a real niche and started to steer Alchemistic into a whole new territory of re-marketing unwanted assets from businesses. The model is simple, working with large retailers Alchemistic provides a solution whereby assets revenue and value can be recovered by re-selling on secondary markets such as eBay. This is perfect for returned or graded products and as such forms part of the Reverse Logistics processes within these businesses. Alchemistic provide storage, dispatching services and all buyer handling within the secondary market places, resulting in a share of the revenue with the retailer, under a commission on sale basis. Since the strategic decision to diversify resources into bulk selling for businesses in December 2012, Alchemistic has increased its business client portfolio by 35 and increased turnover by 300%, working for some very prestigious high street retail brand and is continuing to grow at an exponential rate.