The Interconnected Promotional Products Marketplace
Bernstein Heads One Of Largest Suppliers In The World
In a keynote interview on the final day of the ASI Power Summit, Polyconcept CEO Michael Bernstein described how industry companies operate in an interconnected, global economy today. And, as the head of one of the largest suppliers in the world, Bernstein said the economies of other countries definitively impact business operations in North America. "We're looking to be a truly globally-oriented supply chain expert," Bernstein said about his company. "There are lots of shared services across different countries because they can all work well together."
The wide-ranging interview, conducted by ASI President and CEO Tim Andrews, touched on Polyconcept's North American business, the company's expansion into decorated apparel, his plans – still in the infancy stage – to become a supplier in Asia to local consumers of promotional products, and the significant decline in European business for industry companies. "It's far more challenging in Europe than what I would have expected," Bernstein told the audience. "While some areas have stabilized, we've seen 24 consecutive months of double-digit declines. The hard-goods business in Europe has solidified, but apparel has been very challenging and the economies in Southern Europe have made business there quite difficult."
Ultimately, though, Bernstein said that his company is focused on global expansion and growing his company both in North America and overseas. "Every day, we try to determine how we can allocate and expand our investments so that we can grow globally," he said. "There are many different ways to do that. In North America, acquisitions can have a place but they're not a big part of our strategy moving forward."
Counselor spoke to Bernstein following his session to find out more of his views on the global promotional products marketplace. Click here to see the video.