Threadology gets funding injection as it scales up
London-based Threadology has secured a seven-figure loan from HSBC UK, as the formalwear supplier and retailer scales up operations as demand grows.
The company has seen a sharp increase in demand, with weddings and formal events returning after pandemic restrictions ended. The bank’s funding has allowed the company to increase stock imports “enabling it to meet rising demand and support future growth plans”.
The business has also recently secured an exclusive partnership with Frasers Group, entitled ‘Future in Formal’.
Threadology also owns tailoring brands including online platform TwistedTailor, which sells both men’s and women’s tailoring, and has the formalwear licenses for Simon Carter and Richard James Mayfair.
Jason Gerrard, CEO of Threadology, said: “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 the 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 [we are] 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.”
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