BDO for Ortak Jewellery Ltd (in Administration).
Ortak was established in 1967 as a leading designer, manufacturer and retailer of classic and contemporary jewellery. From its roots in the Scottish Orkney Islands, the Company expanded to generate an annual turnover in excess of £7m, selling on the High Street through fifteen Ortak branded stores, online via its e-commerce website and wholesale to B2B customers, such as Argos, Amazon and H. Samuel, as well as to overseas markets.
Ortak was associated with the blending of silversmith techniques and Orcadian design, and had established a reputation synonymous with quality craftsmanship. The Company had a strong design focus and employed a team of leading designers to create drawings and master patterns.
Metis Partners had been asked by BDO LLP, Administrators of Ortak Jewellery Ltd, to conduct an intensive sales and marketing campaign to maximise the return from the intellectual property assets relating to Ortak.
Metis Partners began by identifying and assessing the IP assets linked to Ortak Jewellery Ltd, this was followed by an intensive marketing campaign to promote the assets to potential buyers and support the competitive auction process.
Metis Partners conducted thorough research to identify, assess and highlight the value of the IP assets linked to Ortak’s brand. Metis Partners then compiled a bespoke global database of potentially interested parties to market the Ortak IP assets, followed by the launch of a full sales and marketing exercise to generate awareness and interest in the Ortak IP assets. Liaising with media partners, Metis Partners was able to gain broad press coverage, including mainstream press, such as the BBC. Further to this, competitive tension was created throughout our established auction process in order to ensure the best possible return for creditors.
Metis Partners identified/recognised the value of IP assets in the Ortak brand and beyond, including the Company’s design portfolio containing in excess of 10,000 samples and customer database with over 25,000 active customers. In identifying a range of valuable IP assets, and through Metis Partners’ marketing campaign, international interest was generated. Metis Partners received numerous offers and saw a substantial uplift on the original proposition after successful negotiations with interested parties. As a result of executing such a successful marketing campaign and the sale of the assets, Metis Partners ensured that the historic Scottish brand was able to continue trading and generated the maximum return for Ortak’s creditors.