Case Study OMIS report

How can the UKTI’s ‘Overseas Market Introduction Service’ (OMIS) report help with conquering a new market? 

About Luxus

Luxus Ltd, founded in 1965 is the UK largest independently owned producer of prime and recycled polymers.  In 50 years of business, it has developed unrivalled expertise in technical compounding and recycling. The company’s success has been built on its ability to engineer high quality thermoplastics.
Providing customers with an environmentally responsible source of supply, Luxus recycles most plastics and produces technical lightweight recycled content polymer compounds for the most demanding industry applications - including the automotive interior trim market.
 
Luxus uses a process it calls ‘Art, Science and Innovation’ to enhance its polymers by re-engineering them with advanced process technology, additives and colours to meet product and consumer demands.

UKT&I’s OMIS report on India

As Luxus already served a diverse range of markets across Europe it was therefore keen to explore new opportunities in Asia. It wanted to target the Indian automotive industry in particular as it was believed to be a key ‘anchor’ for future growth.
To gain a better understanding of its risks and opportunities, Luxus decided to visit India in 2012 as part of a trade mission organised by the British Plastics Federation and run alongside the Plastindia exhibition. In preparation for the market visit, Luxus commissioned a tailor made report by UK Trade & Investment called ‘Overseas Market Introduction Service’ (OMIS): https://www.gov.uk/overseas-market-introduction-service.

OMIS is a subsidised by the UKT&I service that uses local representatives in the market to gather data and contact details of relevant businesses in answer to a list of requirements put together by the client. Its service ranges from finding opportunities to setting up in another country. UKT&I representatives can also arrange meetings with targeted companies in the market to take place during the client’s visit. The findings are then published as a report, which depending on the depth of information required, would cost from around £1,500 onwards.

In the case of Luxus, as part of the OMIS report it asked for meetings to be arranged on its behalf prior to the trade mission. As a result, it gained some key contacts to support its future growth.

Overall, Luxus has found the OMIS service to be good value for money. It also enabled the compounder to identify both opportunities and risks to ensure the best route to enter a new foreign market was taken.

For more information on Luxus Ltd visit: www.luxus.co.uk