From portfolio manager to dealer in design
Scot Jamie Grant sells 20th century Finnish design abroad
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By Anna Karismo
"In small companies, the atmosphere is pretty terrible. Everyone is waiting for everyone else to quit or just leave otherwise", Scot Jamie Grant, 27, exaggerates in his Scottish way, and laughs heartily afterwards.
However, Grant only has experience from one type of firm - one that specialised in stock-broking.
In part due to the resentful atmosphere he just described, Grant did not enjoy working as a portfolio manager at a small asset management company in his home town of Aberdeen.
Two and a half years were enough. "I would have grown tired of the coffee making anyway. No development seemed to be going on in the company."
Luckily he met a Finnish language student, Aino, and fell in love. Once they had known each other for a year, Aino brought her Jamie to Finland.
Now they have lived in Helsinki for two and a half years.
"For the first six months I thought that I was right back in Aberdeen when I suspected that it would not be a good idea to move to Finland", Grant recalls.
"In Aberdeen, I told Aino that I would not get a job, and that the language would turn out to be a problem."
And that is exactly what happened.
"You could have drawn some conclusions from the fact that at university, the teacher recommended that I quit my Arabic studies after five weeks."
He studied Arabic because he wanted to consult in the oil business. Aberdeen is known as the cradle of the British oil industry.
After arriving in Finland, Grant first took care of graves at the Hietaniemi cemetery. During that entire period, his mother told stories back home about her grave-digging son in Finland.
"Sure, it sounded dramatic, but in reality I cared for the lawn and flower arrangements", Grant laughs.
Winter was on the way, and desperation was creeping in.
"Maybe there was something dramatic in waiting at the edge of a grave at seven o'clock in the morning, with the temperature at fifteen degrees below freezing, for it to be light enough to be able to begin work."
Grant decided to hang up his overalls.
In the end, things turned out better for him than for many other immigrants. He found his calling and a profession in Finland.
During his years as a portfolio manager, Grant had taken many classes in Finance. A couple of years earlier, he had graduated with a Master's degree in Philosophy from the University of Edinburgh.
If someone is now wondering how someone with a degree in philosophy can head straight from university to stock-broking, be advised that according to Grant, in Scotland it does not really matter that much what you study at university. Ambition is enough.
Grant first applied for a few financial sector jobs in Finland, but soon noticed that without language skills he would not get far.
When Grant began to furnish his rented flat together with his girlfriend, he had a bright idea: "Old Finnish design furniture turned out to be cheap. I immediately smelled a possible business prospect."
Grant purchased chairs designed by Alvar Aalto from flea markets and placed them on sale at online auction houses.
"They were hugely popular."
That was how his company, Scandicdesign.com, was born. For the son of an entrepreneur, founding his own business felt relatively easy.
Grant borrowed two thousand euros from his father, an entrepreneur who has run several firms in Scotland. In addition, he received a state subsidy for establishing a new business that covered the first six months.
At the outset, Grant sold Aalto chairs, the Ruska dishes of Arabia, and other small objects, "things that are at least 30 years old".
"I checked online what sells, and what is cheap to buy."
Soon he had established business relationships with regular importers in Japan and the United States. They continue to buy the majority of the items Grant sells.
"For example, the price of Nurmesniemi pans has risen significantly. A pan fetched 35 euros two years ago, now it costs 70 euros. Perhaps the buyers think that there comes that Nurmesniemi fanatic again when they see me."
Grant's best deal to date was with a Whitefriars vase that cost him eight euros at the Hietalahti flea market. He resold it for 400 euros.
"Luckily some people like ugly British glass."
Although the value of the deal was not that huge, the margin was fifty times the purchase price.
Grant no longer sells "small things", for example plates, but items worth at least one hundred euros.
"In small items, the profit margins are decent, but you need to sell plenty. Packaging is also difficult when you need to wrap small objects", Grant explains.
He currently sells items ranging from Yki Nummi lamps to Aalto furniture for 5,000-6,000 euros per month. For example, a scratched chair that costs a few euros in Finland can fetch 150 internationally.
Grant is not yet satisfied with his current volume of business. He is continually looking for new suppliers from Finland.
"Right now I only export items abroad, but it would be natural to include importing in the business."
He plans on importing interior decorating products or clothing from Scotland in the future.
"I could run a stand at Christmas markets."
Grant has also considered opening a second-hand goods shop, or beginning to sell modern Finnish design.
"In a second-hand store you could sell anything that looks good. On the internet, the products need to have a real name stamped on their sides", he explains.
The risks would also be much greater in "real" trade, as there would be many more mandatory bills to pay.
"It is easy to generate profits in online business, because there are hardly any costs. I pay my mobile phone bill, my internet subscription, and 150 euros rent for storage space."
Grant feels that modern Finnish design does not stand out as much globally as the design from decades back.
"It has become more international, perhaps mainly due to the materials used. A plastic chair looks international, not particularly Finnish."
Grant laments that Finland lacks a "high-quality" online auction site.
"If one was developed, entrepreneurs from, for example, Lapland could easily sell their products there."
Together with his spouse, Grant also pondered opening an English-language bookstore. A nice location had already been picked out, but it turned out to be difficult to enter the market.
"In this city, it is hard to come up with something to sell that Stockmann doesn't already carry", Grant says, with a touch of bitterness.
Helsingin Sanomat / First published in print 3.10.2004
ANNA KARISMO / Helsingin Sanomat
anna.karismo@hs.fi
