Threadology secures seven figure HSBC funding to scale up following “increase in demand” of formalwear
Online formalwear retailer and supplier Threadology has received a seven figure import trade finance loan from HSBC UK, as it scales up operations following a sharp increase in demand.
Demand has surged with weddings and formal events returning after the COVID-19 pandemic restrictions. The funding means the company can import much needed greater levels of stock.
The business has also recently secured an exclusive partnership with Frasers Group, titled ‘Future in Formal’ which launched across House of Fraser stores this year.
Threadology owns tailoring brands including Twisted Tailor, which has been worn by music artists including Ed Sheeran and Stormzy, Shelby & Sons, Viggo and Without Prejudice, and also has the formalwear licenses for Simon Carter and Richard James Mayfair.
Jason Gerrard, CEO of Threadology, said: “It is an extremely exciting time for the business as we have seen rapid and consistent growth across all of our brands. We are grateful to HSBC UK for understanding and supporting our business model and our growth ambitions in the sector.
“We are pleased to further this growth by partnering with Frasers Group and continuing to grow our reputation as disruptors in the tailoring market this year.”
Chris Chambers, HSBC UK Area Director for London City Business Banking, added: “The formalwear sector is a rapidly expanding industry - and HSBC UK is delighted to support Threadology as it continues to develop.
“The business has ambitious growth plans, and we’re pleased to be able to support what promises to be an exciting future.”
Formed in 2016, Threadology has adopted a sustainable near shore business model and imports its fabric and products from Europe and Turkey. The business prides itself on being able to provide high-quality products in short lead times.
The business has also seen considerable success with its online marketplace, TwistedTailor.com, which sells both men’s and women’s tailoring, and Threadology also sells its own brands on ASOS and Zalando.
The brand focuses on innovative tailoring and design and employs an up-and-coming design team “passionate about pushing the boundaries of fashion”.