Retailer Alpkit gets growth funding, will add footwear
Outdoor retailer Alpkit has received £2.7 million in funding to support its domestic and international omnichannel growth.
The financial package from HSBC UK will be used to develop a new footwear range, set to launch this summer, and increase product to meet growing demand across cycling, outdoor swimming and technical outdoor clothing.
TheBusinessDesk reported that the Nottingham-based company, which currently operates from eight stores in key locations, plans to continue growing its physical presence across the UK and increasing its digital trading worldwide.
It noted demand is increasing internationally, including markets across Europe and the US.
David Hanney, chief executive at Alpkit, said: “This deal will help accelerate our growth as we look to capitalise on a significant increase in demand domestically and internationally. It also means we can invest in innovation to create lower impact, long-lasting technical outdoor gear that is both repairable and recyclable.”
Paul Armstrong, HSBC UK area director for East Midlands, added: “With the outdoor retail sector continuing to see substantial growth, Alpkit has moved swiftly to increase its offering across not only the UK but also international markets.”
The funding package from HSBC UK includes a £2 million General Export Facility, backed by UK Export Finance, the government’s export credit agency.
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