Commentary: How a company making 'the best fantasy miniatures in the world' conquered the hearts of gamers, investors and more

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Ian Sturrock discusses how a bunch of wizards and goblins drove a 25-fold explosion in the company’s share price.

VICTORIA, Middlesbrough: In an era defined by online shopping and falling real incomes, the high street can seem like a morass of zombie companies, hauling their carcasses from one sales season to the next until someone puts them out of their misery.

The company soon launched the White Dwarf magazine, which became a bible for fantasy gamers, and moved into manufacturing miniatures for wargaming under its Citadel Miniatures brand. The company’s stores stock only its own products, though it is more than happy to sell them elsewhere: 47 per cent of sales come from third-party retailers, while a further 19 per cent are online.GAMES WORKSHOP'S MODEL

There are also a smattering of stores in North America and Asia, though the company has never achieved critical mass in those markets like it has in the UK. The logic is to give the dedicated fan so much to consume that there is no need, or indeed very much time, to bother with anything else.TREASURE CHEST REQUIRED

 

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