{"id":211235,"date":"2022-06-29T15:05:07","date_gmt":"2022-06-29T14:05:07","guid":{"rendered":"https:\/\/www.theindustry.fashion\/?p=211235"},"modified":"2022-06-29T19:32:29","modified_gmt":"2022-06-29T18:32:29","slug":"baird-group-secures-7m-funding-to-support-international-expansion","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/baird-group-secures-7m-funding-to-support-international-expansion\/","title":{"rendered":"Baird Group secures \u00a37m funding to support international expansion"},"content":{"rendered":"<p>Baird Group, <strong>owner of Suit Direct and formalwear licence holder for Ted Baker,<\/strong> has today announced it has secured a \u00a37m funding package from Bibby Financial Services (BFS), to support the business\u2019s international growth.<\/p>\n<p><!--more--><\/p>\n<p>The partnership will ensure that the <strong>Yorkshire-based menswear retailer and wholesaler<\/strong> \u2013 which has a growing roster of leading garment suppliers around the world, including in\u00a0Egypt, China, Bangladesh, India,\u00a0Pakistan,\u00a0Vietnam\u00a0and Turkey \u2013 can increase stock volumes, particularly from new and existing suppliers in Asia.<\/p>\n<p>With a heritage dating back to 1894, formalwear specialist Baird Group employs more than 500 employees worldwide, with <strong>high street customers including John Lewis, House of Fraser and TK Maxx.\u00a0<\/strong><\/p>\n<p>In 2016 Baird Group acquired the UK licence for Ben Sherman, working in partnership with brand owners Marquee Brands to supply clothing production globally for the brand.<\/p>\n<div>\n<p class=\"xparagraph\"><span class=\"xnormaltextrun\">Baird Group is <strong>now the master licence holder for Ben Sherman adults casualwear and formalwear<\/strong> and holds the licence for the majority of the EU. It also operates<\/span><span class=\"xnormaltextrun\"> 12 Ben Sherman stores and supplies the brand to several key wholesale accounts.<\/span><\/p>\n<p class=\"xparagraph\"><span style=\"font-size: 1.8rem;\">Additionally, Baird Group owns the UK licence for Jeff Banks menswear, and wholly owns brands, including Gibson London, Racing Green, Alexandre London, Scott &amp; Taylor, Antique Rogue and Limehaus.<\/span><\/p>\n<\/div>\n<p>Nick Scott,\u00a0Group\u00a0Chief Financial Officer and Director\u00a0at Baird Group (pictured above),\u00a0said:\u00a0\u201c<strong>Our vision is to be the go-to brand for affordable and stylish menswear,<\/strong> and we wanted to partner with a funder that understood our past, but also our future.<\/p>\n<p>\u201cOur financing partnership with BFS is a key part of our ambitious expansion\u00a0plans, and\u00a0will\u00a0undoubtedly\u00a0enable us to grow domestically and overseas.<\/p>\n<p>\u201cTo achieve our growth ambition, we\u00a0need to\u00a0increase stock volumes from new and existing\u00a0overseas\u00a0suppliers, so it was critical that we could partner with a financier with\u00a0both\u00a0international experience\u00a0and a flexible approach.\u201d<\/p>\n<p>David McIntyre, Corporate Manager at Bibby Financial Services,\u00a0commented:\u00a0\u201cThe key to this transaction was our ability to provide funding for Letters of Credit, <strong>enabling Baird Group to significantly increase stock volumes from its international suppliers.<\/strong><\/p>\n<p>\u201cCombined with our invoice finance specialism, our international trade expertise provides a compelling proposition for businesses importing and exporting, and we look forward to seeing the business go from strength-to-strength with this tailored\u00a0working capital\u00a0package in place.\u201d<\/p>\n<p>Baird Group are part of the Arafa Group. Arafa Holding is a leading global textiles and apparel manufacturer and retailer based in Egypt.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p> [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":211240,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[10488,9763,10585,6,10494],"tags":[23970,20263,14817,9861,20265],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Baird Group secures \u00a37m funding to support international expansion - TheIndustry.fashion<\/title>\n<meta name=\"description\" content=\"Baird Group, owner of Suit Direct and formalwear licence holder for Ted Baker, has today announced it has secured a \u00a37m funding package from Bibby\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.theindustry.fashion\/baird-group-secures-7m-funding-to-support-international-expansion\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Baird Group secures \u00a37m funding to support international expansion - 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