Outdoor retailer Alpkit receives £2.7m HSBC funding to scale-up
British outdoor retailer Alpkit has received a £2.7m funding package from HSBC UK, backed by UK Export Finance (UKEF), to help support the company’s domestic and international growth.
Alpkit currently has eight UK stores, including at the Metrocentre in Gateshead, Bristol, Edinburgh and two in the Lake District, and there are plans to open more.
The company is also aiming to expand its own-brand product ranges, with footwear launching this summer.
With increasing online demand from international markets across Europe and the US, the new funding will help to grow Alpkit’s digital trading capacity worldwide.
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.”
The own-brand retailer makes 30% of its products in Britain, and is seeing particular growth in sales across men’s and women’s technical outdoor clothing, swimwear and cycling apparel.