Having used Hong Kong as the base to build a global business, Neil Pryde tells why it will always be the hub of his empire

For more than three decades, the brand name Neil Pryde has been synonymous with high performance windsurfing and sailboarding equipment around the world. The company set up in 1970 by New Zealand-born entrepreneur Mr Pryde has diversified to become a world leader in snowboards (under the Flow brand name), kite surfing equipment (under the Cabrinha brand name), and sports accessories.

Mr Pryde, a former accountant, set up home in Hong Kong some 40-years ago, his enthusiasm for yachting taking him to Mexico as a member of the 1968 Hong Kong Olympic sailing team. He says that business is like board sports ─ constantly evolving, rarely predictable and always exciting.

"The adventure board sport industry is dynamic and complex, which is why we are continually looking for new products to introduce," he said.

Significant resources both in time and money are spent on R&D (research and development). "Quality and design is critical in the sports business where performance is a given - competitors are all similar, but design can provide the edge. The product sells itself if it really works so we pay a lot of attention to design and styling."

Among the company's numerous awards was a recent Business Week Gold Excellence in Design award - for a see-through racing sail. The company employs more than 2,400 staff and exports to over 40 countries with its main markets being the US, Europe and Japan. Turnover for 2003 is expected to reach HK$584 million (US$75 million).

Hub of a global empire

"Hong Kong is the centre of our international empire. From our headquarters in Hong Kong, we co-ordinate all our marketing, finance and sales functions as well as supporting our production facilities at Shenzhen, in southern China, and Thailand," Mr Pryde said. "Hong Kong's low tax base, infrastructure and communications systems make it the ideal location to serve the global market."

Increasingly the company's web site is playing a bigger role in spreading product information.  "Nearly everything we sell is to another country so communication is the essence of our business," he said. The site and server are maintained in Hong Kong, where computer-programming skills and talents are extremely high.

Looking to the future, Mr Pryde says the mainland is showing potential for rapid growth in winter sports. The company has put in a bid to become the official supplier of windsurfing sails for the 2008 Beijing Olympics. "China has started to take up winter board sports and develop resorts, which is quite exciting. Over the next four or five years the Asia-Pacific region could become the biggest market outside the US and as the only player in Asia we are right in the middle of it ─ another good reason to be in Hong Kong."

Mr Pryde says after living in Hong Kong for so long he stills enjoys the buzz of the city's cosmopolitan, vibrant atmosphere and competitive yacht racing around the islands.

Related link:
Neil Pryde   www.neilpryde.com