Brisbane-based packaging firm Signet ramps up national growth

A Brisbane-based packaging firm that has been owned by the same family for more than 50 years wants to bring more manufacturing back to Australia, but there are some barriers.

A surge in customers with small e-commerce businesses and side hustles has helped national packaging firm Signet ramp up its growth.

The family-owned, Brisbane-based company provides packaging products to more than 60,000 customers across Australia, including major brands such as Woolworths, Ikea, and Lush.

But much of its recent growth, especially during the Covid-19 pandemic, has come from smaller customers wanting to support a reliable, local manufacturer.

“There was a real trend in e-commerce as we went into Covid and it has become a really big part of the market,” said Signet chief executive Jack Winson.

Signet, which employs more than 200, was established in 1968 by Mr Winson’s father John Winson and uncle Bob Winson and is still owned by the family.

“The success of today comes from a long tradition of hard work we have put in over the last 50 years in the business,” Mr Winson said.

“We were really well positioned and have been working our way into that e-commerce market for a long time. We were one of the early adopters of e-commerce and we have been trading online for 15 years.”

Signet generates more than $150m in revenue each year and has grown by 30 per cent in the past 24 months with sales coming from packaging, safety, PPE, inks, aerosol paints, labels and other related business supplies.

The Winsons have invested $5m into expanding their operations over the last 12 months to cater for growing demand.

Signet currently manufactures around 25 per cent of its products locally and the Winson family hopes to boost that percentage in the next few years.

Signet chief executive officer Jack Winson.

“About 7 years ago, we worked with all our staff to talk to them about what they were passionate about, and at that time, there was a real feel for a loss of Australian manufacturing, which is why we continue to support local,” Mr Winson said.

Mr Winson says one of the biggest barriers to further manufacturing in Australia is the current payroll tax that is making it hard for businesses to employ more staff.

“Getting rid of payroll tax would help for starters. There is a problem if we have a tax that makes it harder for Australian businesses to employ Australians and payroll tax is one of those,” he said.

Signet has been ramping up its environmental credentials over the past five years.

It is diverting 40 per cent of its waste to recycling, boosting its investment in solar energy and increasing its packaging options for customers who want to swap from plastic to paper, such as eco-friendly alternatives to bubble wrap.

“Sustainability is a huge growth opportunity for us and our customers over the next few years,” Mr Winson said. “We have been moving people from plastic to paper packaging and we see that as a clear trend and one that’s working well and has real traction with our customers and ultimately, the end users.”

The business is also looking at its growth opportunities around the country.

“We have just upgraded to a new 8000 sqm distribution centre in Melbourne, allowing us to provide even greater service to customers in Victoria, including same-day dispatch, and we see that as a really good growth area for us,” he said.

Signet provides packaging products to more than 60,000 customers across Australia.

Despite Signet’s growth and success, it has not been immune to rapidly rising inflation and global supply chain issues.

Mr Winson said the company was forced to recently increase the prices of its products as the cost of global freight and other domestic costs increased.

“We have had to increase our prices of products because of the cost of freight. There has been a 10-fold increase in container freight coming into Australia” he said, noting that fuel costs were also impacting local deliveries.

“Rising electricity prices are definitely going to affect us - it’s going to cost us more for our manufacturing processes.”

Mr Winson is still upbeat about the business’s future and is confident that it will remain family owned and operated.

“I think business is going to be tough, but there are also some good growth opportunities for us. We are definitely looking to grow 7-10 per cent next year,” he said.

“It is still a family business. I am the second generation, and we are putting everything in place to maintain ownership and prepare for a third generation.”