Fashion jeweller tlke gets funding boost
Following a “record” trading year, London jeweller tlke is looking to expand further and has secured £300k in HSBC-related funding. The amount, which is 80% guaranteed from the government body UK Export Finance (UKEF), will go some way to achieving its 2022 goals.
Tlke works in partnership with a network of international brands to distribute “quality, branded jewellery” into the UK and wider European market. Further, it works with designers including Ralph Lauren and DKNY, and supplies retailers such as House of Fraser, Fenwick and Ernest Jones.
Via UKEF’s continuing support, the business also managed to maintain major contracts as the Covid pandemic developed and even expanding to 30 additional Ernest Jones stores.
Teresa Timberlake, founding partner at tlke, said: “Like millions of other businesses, Covid has presented all kinds of challenges. We were put in a really tricky position and facing the need to take on a lot of debt to keep our supplier relationship.
“The UKEF support helped us navigate that. I’m excited about the years ahead and the brilliant brands we might have the opportunity to work with as a result.”
Richard Gimblett, Area Director for Business Banking in London City, HSBC UK, also said: “HSBC UK is committed to helping businesses navigate the challenges of the coronavirus pandemic and we’re pleased to have helped tlke ensure it could retain key contracts during a difficult time. We will continue to support the company and its growth plans, as the funding from HSBC UK and guaranteed by UKEF will play an important role in allowing the company to seek opportunities for further partnerships and boost its recruitment plans.”
Minister for exports, Mike Freer MP, added: “The Covid pandemic created unexpected obstacles for every business across the UK, and government support has helped tlke through this difficult period. I’m incredibly encouraged to see growing businesses like tlke continued to sell from Britain to the world during the festive period.”
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