Vivid Chairman steps down to form own consultancy
Paul Weston leaves his post but will remain in an advisory capacity
Vivid Toy Group Chairman Paul Weston is stepping done from the role with immediate effect.
Vardhan Rajkumar of private equity firm Privet Capital will step into the role, with Paul continuing to work with the company in an advisory capacity, bringing his 30-plus years' toy experience to product and licensing opportunities.
“I have been so fortunate in my career to have been involved in two majorly successful start up companies, working alongside some of the most talented people in the industry and on some of the biggest and most iconic global toy brands,” said Paul.
“I am also delighted to be continuing my relationship with Vivid and its new investor Privet Capital and look forward to helping them achieve their ambitions of broadening and strengthening the brand portfolio and driving further international expansion.”
Paul will bring his unique experience of having operated at senior levels on both the manufacturing and retail sides of the industry gives him a unique platform to launch his new consulting business, Press Play, allowing him to advise across the whole spectrum of product development, distribution, licensing and retail.
Privet Capital acquired Vivid back in March 2017, with new Chairman Vardhan saying at the time: "We are extremely pleased to have acquired Vivid which we believe has significant growth potential. Vivid is an exciting business with an impressive track record of 'end-to-end' excellence in each of its core functions, from procurement and product design through to marketing and sales via its unrivalled distribution network and retail relationships worldwide."