This year we celebrate the 225th anniversary of Letts. We will mark this extraordinary milestone with a series of articles and events – from the early years right up to today. The second article looks at the transition to the second generation of the family business – run by Thomas Letts.
The fortunes of a business tend to fluctuate with each successive generation of a family. John Letts, our founder, was succeeded by his son, Thomas Letts, the second generation of the Letts family business. Thomas took control in the 1830’s, provided a degree of enterprise and acumen less apparent in his one-time apprentice-bookbinder father.
Thomas diversified the business into maps and a wide range of stationery products and, in the 1850’s, extended the sale of diaries to overseas markets in response to the demand from Britain’s rapidly-growing Empire.
Then, in February 1858, a wonderful exchange of letters between Thomas and Dr David Livingstone, in which Thomas offers a free supply of diaries for life to the famous African explorer and missionary, marks what must have been one of the earliest examples of corporate sponsorship.
Thomas’s foresight in this gesture must have been repaid many times over in that Livingstone kept a detailed and poignant record of his travels in Letts diaries to the day of his death and thus provided one of the best examples of diary-keeping.
In the 1870’s Thomas, who had now been joined in the media business by his son Charles, took advantage of recent changes in company law to convert the business to a limited liability company. At the same time new capital was introduced to help finance the expanding business, and non-family directors became involved.
This, and the more academic nature of Charles, led to tensions between the family and non-family directors which culminated in Charles leaving the company in 1881 to set up on his own and thus create the business which developed into the 21st century diary publishing business bearing his name.
Thus two competing brands of Letts diaries were published until 1945, when Charles Letts & Co Ltd re-acquired the copyright of the original business founded by John Letts.