Two new directors, Muireann Kelliher and Michael Dwan, have been appointed to Trinity’s independent commercial company six months after it was established, following approval from the College Board.
Kelliher and Dwan, two Trinity alumni who both have an extensive background in business, were approved for the position at Trinity Brand Commercial Services Ltd at a meeting of the College Board in December 2016. The company was conceived to generate €1.5 million in income for the College over the next five years, as part of the College’s 2014-2019 Strategic Plan.
Kelliher is the Director of Strategic Development at Glanbia and holds a bachelor’s degree in economics from Trinity. Dwan, having graduated from business studies in Trinity, currently serves as Group Managing Director of Gowan Group Limited. He is also Chairman of Gowan Group Limited.
In an email statement to The University Times, Trinity’s Chief Operating Officer, Geraldine Ruane, said that “the new directors bring valuable expertise and experience to the company”. Ruane already serves as a director for Trinity Brand Commercial Services Ltd and has a background in commercial and financial work.
Set up in July 2016, the company’s main goal is to establish a global Trinity brand and to promote the sale of Trinity-branded products across the world. The business model has already proved successful in other colleges and universities. Harvard University, for example, sells everything from stationery to branded lamps, and Stanford University’s range includes items such as a Stanford University salsa bowl.
The company’s business plan, seen by The University Times, states that the company will sell a “range of premium gift products, which take their inspiration from a world-renowned Irish university”.
The success of the company is important as Trinity seeks to find alternative sources of funding as the higher education funding crisis shows no sign of being solved. Currently, less than 50 per cent of Trinity’s overall funding comes from the state, and in recent years, College has been forced to expand its commercial activity.
The company’s business plan outlines how it will develop College’s existing business relationships, including with Bank of Ireland, as well as with parts of the hotel sector, to which Trinity feels it has strong links. Also included in the plan is to reach out to luxury department stores like Brown Thomas and Arnotts. The subsidiary will also seek to reach out to high-profile graduates and alumni within the business world, with Michael O’Leary, CEO of Ryanair, mentioned twice in the business plan.
Director of Trinity Commercial Revenue Unit, Adrian Neilan, stated in an email to The University Times in November that the revenue generated would “be used to support the academic mission of the university”.
