In 2014 the Severfield-Rowen group of companies made a loss of -£0.2 million. Despite being the UK’s largest specialist structural steel group, it had a tired identity and customers didn’t realise that each of the four operational brands were part of a whole, negatively impacting on sales.
To sustainably grow revenue and return to profit, a fundamental part of the new business strategy was to create a clear vision and progressive identity for the business to position it as market-leader.
Insight from an initial immersion phase led to the simplification of the business’ brand strategy. With all trading units brought under a single name and brand – Severfield – and a new contemporary identity and proposition, the unified brand has been simplified in the minds of customers and has brought the group’s team together.
Since rebrand Severfield’s revenue is up 36% from £201.5 million in 2014/15 to £274.2 million in 2017/18, outperforming market growth of 12.3%. Profit totalling £49.9 million has been generated in the three years since the rebrand launched and share price has grown, delivering better value for shareholders.