Name: The Design Museum
Industry/sector: Leisure and travel
Date founded: 1989
The boss: Deyan Sudjic
Latest turnover: £24.9m
Three-year compound growth rate (%): 68.62
Latest EBITDA: £18.5m
The design industry has never been more inventive, demonstrated with former Burberry CEO Angela Ahrendts switching from luxury fashion to technology in 2014.
That’s good news for The Design Museum, which has a contemporary focus on architecture, fashion, products and graphics, as it operates as the design industry becomes increasingly enhanced with new developments such as wearables.
Based at the Shad Thames area near London’s Tower Bridge, the venue has revealed a plan to move to Kensington in 2016 and take up residence at the former Commonwealth Institute.
“The move will give the museum three times more space than in its current location at Shad Thames, with vastly improved learning facilities and a dedicated gallery to display its permanent collection, which will be accessible free of charge,” said the firm.
“It will bring the museum into Kensington’s cultural quarter, where it will join the Royal College of Art, V&A, Science Museum, Natural History Museum and Serpentine Gallery.
“The Design Museum Kensington will be the world’s leading museum of contemporary design and architecture, an international showcase for the many design skills at which Britain excels and a creative centre, promoting innovation and nurturing the next generation of design talent.”
It anticipates more than half a million visitors annually and 50,000 learners. The move came after securing a £3 million grant from the Arts Council to transform the 1960s venue that has laid dormant for more than ten years into a 21st century location ideal for design.
Terence Conran, founder of the Design Museum, said: “Moving the Design Museum to Kensington is the most important moment of my long career in design so far. It will allow all our dreams and ambitions for the museum to come true, to create a world class space with the size and scope for the serious promotion and celebration of design and architecture in this country.”