Insights and innovations: 2023 recap
This past year has been a successful year for Titus UK, with new product launches, expansion of our production capabilities, and as always, an unwavering commitment to meeting the needs of the constantly-changing furniture industry. With over 40 years of expertise behind us, we’re proud to continue to lead the way in providing high-volume, precision-engineered components.
As we look back over 2023, we had the opportunity to speak to Phil Beddoe, Managing Director at Titus UK. In our chat, we were able to hear Phil’s unique perspective on the highlights and challenges of the year. We also found out more about the strategic vision that has propelled the company forward this year, as well as what’s on the horizon for Titus UK in 2024.
How was 2023 for Titus overall?
2023 was an exciting year for us at Titus. We participated in major industry trade shows like Interzum and SICAM where we launched several innovative new products – including the T-type PressTo and T-type 170 hinges, Push Latch S2 latches with integrated damping, handle-less versions of our Slimline Tacto drawers, Slidix soft closing solutions for sliding doors, PushPlus for pocket doors, RV Push Locks and a series of damping solutions for cold environments.
These new product launches represent significant investments from us into expanding production capabilities and factory facilities. We’ve continued to see good, stable demand from the industry amidst wider economic uncertainties. The home improvement sector continues to remain fairly strong.
Have there been any challenges to overcome this year and how have the team managed this?
Internally, it’s been a good year for us without significant challenges. We have robust operations and didn’t face the acute supply chain stresses of the prior years coming out of the pandemic. Externally, we are, of course, mindful of broader volatility globally. Raw material and energy costs have remained stubbornly high. Competition for talent across markets also persists. But as an agile player dedicated wholly to this industry, we feel equipped to respond swiftly to any shifts in the months ahead. Our focus remains fixed on serving our customers with consistency and quality.
Are there any notable team changes to tell us about?
There are no major internal team changes to report. We retained all our top talent and have added additional engineering capabilities – essential for our product innovation pipeline.
What are you looking forward to as a business in 2024? Are there any new products on the horizon that you can tell us about?
Like all years, in 2024, we look forward to unveiling new product innovations. We are continually perfecting and enhancing our fixture and component offerings – making installation easier and more efficient for furniture producers while improving end-user experiences. For example, we’re focused on fine-tuning integrated dampers for superior control, smoothness, and longevity over years of use. We also plan to participate again in leading industry trade events like kbb to showcase these new offerings.
How do the team at Titus UK stay informed about industry trends and incorporate this into the business strategy?
By exhibiting at top international furniture production shows and through extensive face-to-face customer meetings, we stay closely attuned to the needs and trends shaping this industry. We see firsthand the innovations our customers bring to market and the end-consumer’s response. This direct exposure informs our own product roadmap and business plans, ensuring we deliver components that help manufacturers improve efficiencies, quality, and premium experiences.
Are there any upcoming trends or shifts in market demands that you anticipate will shape your focus in the coming year?
We anticipate continued robust demand for high-end furniture fittings that provide superior dampening, smooth actuation, and longevity – from kitchen cabinet doors to sliding bedroom wardrobes. Our in-house engineering expertise in damper technology makes us uniquely equipped to lead innovation here. We also foresee growth in demand for flexible solutions adaptable to small-batch custom furniture production in addition to serving high-volume standardised manufacturing.
What were the highlights of 2023?
The clear highlights were our successful launch of various new product lines at flagship industry shows, the expansion of our production facilities, and the return to more in-person industry events, allowing critical direct customer engagement. We have been really pleased to see our customers successfully launch new ranges with our latest products. Our investments to expand capacity and capabilities provide the platform for the next wave of innovations is already in development for 2024 and beyond.
Thank you to our customers for a great 12 months. If you’re a furniture manufacturer or retailer looking for quality components in high volumes in 2024, get in touch on 01977 682582 or email email@example.com.