Rob Law, the inventive mind behind Trunki, the globally recognised brand of ride-on children’s suitcases, is a testament to the power of individual innovation. His journey from a starting idea to success demonstrates that individual inventors can hold their own in the business world.
In 1997, while at university, Law stumbled upon the idea that would eventually become Trunki. His vision was to create a functional toy inspired by his memories of his brother’s ride-on tractor. This innovative approach to combining fun with functionality laid the foundation for Trunki’s success. (source)
In 2002, Law received a grant from The Prince’s Trust to kickstart his business and soon entered into a licensing deal with a toy company. However, the company went into liquidation less than three years later, prompting Law to take control and push forward independently. His appearance on Dragons’ Den in 2006, although unsuccessful in securing investment due to concerns about the product’s quality, did not deter him.
Law’s resilience was further tested when, shortly after Trunki’s launch, a government ban on hand luggage during a heightened period of aircraft terrorist threats threatened to derail his business. However, the ban was lifted within six weeks, allowing Trunki to continue its trajectory towards becoming a household name in travel gear for families.
The decision to re-shore manufacturing to the UK in 2012 marked a significant turning point for Trunki, reinforcing its commitment to quality and agility in responding to market demands. This move not only showcased the benefits of local manufacturing but also positioned Trunki as a pioneer in the resurgence of British manufacturing.
Rob Law’s story reached a remarkable milestone when he sold his company, Trunki, for a substantial £12 million, 17 years after its initial rejection on Dragon’s Den. (Source)
Law’s journey demonstrates how the individual can have an idea and succeed. His ability to navigate early setbacks and his commitment to innovation and quality solidified Trunki’s position in the market and demonstrated the potential for inventors to achieve significant financial success.
In a world where mass production and corporate dominance often overshadow individual creativity, Rob Law’s story serves as a powerful reminder of the impact one person’s vision can have on the global stage. It reaffirms the notion that invention remains one of the last bastions for individuals to make millions, provided they are equipped with resilience, innovation, and a willingness to adapt to the ever-changing business landscape.
Photo source: https://www.flickr.com/photos/codepo8/1257068680/