Pat Fumagalli, Chairman and CSO at Bestway Profile

Pat Fumagalli
Chairman and CSO
Bestway


Pat Fumagalli, Chairman and CSO at Bestway Certificate

“By understanding people’s needs, you will discover incredible insights to serve your customers in a way that others might not.”

In 1994, Bestway began as an ODM (Original Design Manufacturer) for inflatable recreational products, producing items at the request of retailers.

Five years later, Pat Fumagalli joined the company, collaborating with Mr. William Zhu with a shared dream of creating “our own product lines and distributing them under our own brands around the world,” says the now Chairman and CSO of Bestway.

Transforming a Company

Fumagalli says transitioning from a typical, reactive ODM business strategy to a proactive one focused on developing Bestway’s own products, marketing, and services came with its own challenges.

He refocused the company on the changing demands of its customers, and surrounded himself with a team who shared his values and ambitions, and could make confident, effective decisions even in his absence. Now, that vision has become reality.

“We have been in the market now for 20 years, and today, one out of every 57 individuals around the globe purchase a Bestway product every year,” says Fumagalli. “The company was generating up to $30 million in revenue in 1999 and we’re now generating $3 billion today.”

Sustaining Success

Keeping customers' needs in mind, Bestway designs and produces recreational items they can afford. One of its greatest innovations is the world's first portable, inflatable hot tub, allowing homeowners to enjoy an affordable hot tub in their own backyards.

They’ve continued to innovate by adding windows to their above ground pools, providing extra safety for parents to watch their children, and transformed a simple water slide with its patented, inflatable speed ramp, which is part of its H2OGO! summer line.

Fumagalli says Bestway is focused on sustaining its success by reinvesting in its infrastructure and working closely with retailers to address gaps in the market.

“We’ve focused on the segmentation of products instead of selling similar products under the same labels,” shares Fumagalli.“We now design and promote brands with a variety of price points, features, benefits, and aesthetics to help retailers provide the best product for consumers.”

This also solves one of the major problems others in their space face: seasonality. Often, retailers experience revenue loss in Q4 because of a lack of products. Bestway responded by creating year-round product lines like portable hot tubs, ball pits, bouncers, snow tubes, and other indoor products.

“That resulted in a win-win strategy, transforming our business and theirs from seasonal success to a strong, ongoing partnership,” says Fumagalli.

Bestway also prides itself on the success they’ve found by utilizing feedback from consumers to guide its product innovations and developments. In one case, Fumagalli says the company learned parents had difficulty inflating and deflating bouncers for their children.

“We solved this by creating a one-of-a-kind bouncer with a built-in pump that is truly ‘plug-and-play,’ so the bouncer can be inflated in minutes and deflated effortlessly,” shares Fumagalli.

Leading the Way

Bestway is proud of its growth, but most importantly, it wants to do so responsibly, keeping a close eye on its sustainability practices.

“With our global workforce of over 12,000 and the usage of plastics in our product lines, we have placed a strong emphasis on sustainability,” says Fumagalli. “We teamed up with the CDP (Carbon Disclosure Project), the banking group, HSBC, and Walmart. As a result, we've invested in renewable energy sources, covering our factory roofs with solar panels that currently generate around five percent of our energy needs. Our target is to supply 10 percent of our energy needs by 2025.”

Fumagalli adds, “we've also had remarkable success in recycling our waste at 99.5% and will reach 100 percent recycled by 2025. These efforts earned us an invitation to the United Nations COP 26 in Glasgow where we were highlighted for our commitment to our sustainable activities and the battle against climate change.”

Beyond its commitment to take care of its footprint, Fumagalli says it is also focused on one of its core values: leadership.

“We are focused on continuing to look for programs and perks to retain our top talent and management team while also bringing in new people with fresh ideas,” says Fumagalli. Bestway focuses on innovation by “being persistent and patient; maintaining openness, honesty, and transparency at work. Keep an eye on the competitors and learn new things but remain focused on yourself and your goals.”

For fresh ideas, he tells entrepreneurs to eliminate mental obstacles that limit creative thinking.

“Imagine ‘the ideal world scenario’ at all times,” says Fumagalli. “Focus on where you want to be and ignore the ups and downs. Stay humble and keep your eyes peeled for the next triumph.”

He adds “believe in yourself—you have something the world lacks, and you are the only one who can supply it.”


Company

Bestway

Management

Pat Fumagalli
Chairman and CSO
Bestway

Description

We design, develop and produce industry-leading outdoor recreational items for all ages– from soothing pools and spas to mega water parks, lounges, kayaks, stand-up paddleboards and much more. Inflate your happiness with Bestway USA!


Inspiring Leaders Magazine 2022