Seventeen years after selling his business to Sky, Sir Alan Sugar is looking to breathe new life into Amstrad's iconic brand by launching a digital marketing company led by his grandson.
The business mogul, famous for his role on BBC One's reality show The Apprentice, has regained the rights to the famous brand name for newly formed agency Amstrad Digital.
Lord Sugar accused Sky's previous management team of being “belligerent” for their reluctance to buy back the company's name before it was acquired by US media giant Comcast in 2018.
“I had requested this name since 2007 because I intended to pass the name on to my family to use in their business,” he explained.
Lord Sugar founded the electronics company Amstrad in 1968 at the age of 21, initially working in audio and computer equipment before moving on to manufacturing the first Sky receivers and dishes. The company was eventually sold to a major broadcaster for £125 million. Sky still uses the software, but the Amstrad brand name has remained dormant.
New performance marketing agency Amstrad Digital will be led by Lord Sugar's grandson Joe Barron and Tom Darcy. Both previously worked at rival digital marketing agency Crime Online.
Climb Online, launched by The Apprentice winner Mark Wright with the backing of Lord Sugar, was reportedly sold for £10m in 2022.
“They own the brand name, which is a valuable asset in itself, and they need to leverage that. And I expect there to be some return,” Lord Sugar said. .
The business mogul has been highly critical of the work-from-home trend brought about by the coronavirus pandemic, writing, “These two are working remotely from the comfort of their pajamas.'' “No, they're not lounging around in their pajamas.” They need to go out and do business. ”
Lord Sugar recently lamented the excuses he collected from The Apprentice contestants.
However, he acknowledged the decline in TV advertising, which he attributed to rising costs and changing consumer viewing habits.
He told PA: “Television companies have significantly cut back on advertising, mainly due to the declining influence of TV advertising.”
“Digital marketing, digital advertising and social media are now driving sales.”
“The digital marketing landscape is constantly changing and presents huge opportunities,” Darcy said.
He stressed that “cutting marketing spend should not be on anyone's mind.”
Baron asserted that the agency will maintain the same values as the original Amstrad, which was known for making personal computers more affordable and accessible.
