Q&A: Jeff Lederer, President of Prime Line, on Recent Acquisitions and Outlook for 2014
Both deals come with offices overseas that will get added to our presence in China already, and it just gives us an even bigger footprint and more services. It will allow the distributor to have more peace of mind when sourcing a product from China and when sourcing a product from Prime Line—product safety is very important to Prime and to the industry, and this represents more opportunity for distributors to have peace of mind as we integrate all of our product quality and compliance into these companies. It is just that much better for the industry because of our huge focus on compliance.
PM: It seems like highly customized product category is going to be a big push in the future and could become an important market for the industry. Would you agree with that?
JL: I think so. I think the key part is product quality and safety, which is important. It's also very competitive out there, so we want to bring China closer to the distributors to save them money, offer turnkey services with quick production times, and to make sourcing more safe. Those are the things that I think will help distributors when working with Prime to get a leg up, make more money, service more customers and have more peace of mind when doing these larger orders that are produced overseas.
PM: How will R.O.I. Line play into that?
JL: What's important to us is the boutique nature of Source Abroad. Some distributors, when working with larger suppliers, have a perception that their order won't get the same attention or focus. At Prime we have an area that already focuses on overseas projects, and the addition of Source Abroad as our own boutique agency that focuses on it 100 percent of time will be a nice complement to what we're doing. It gives distributors a higher peace of mind when sourcing a project, because it's now associated with a top company like Prime, and all the services and reliability and quality that come along with that. Distributors can now have all that with this boutique company that now is solely focused on that endeavor.