Aspinal of London receives £9.75m in funding
Santander Corporate & Commercial has given British brand, producer and multichannel retailer of luxury goods Aspinal of London £9.75m in funding.
Aspinal has eight directly-operated stores, six concessions and three overseas franchise stores, but does the most business through its e-commerce site. The brand recently invested heavily in management and has hired a number of industry experienced senior executives, including Sarah Rotheram as CEO.
The brand plans to open more stores and expand internationally. Santander's £9.75m funding includes a £3 million Growth Capital Loan.
Rotheram said: "Aspinal of London is delighted to have agreed significant new banking facilities with Santander under the scope of The Santander Breakthrough Fund. The Santander Breakthrough Fund has been specifically set up to support and provide funding for high growth entrepreneurial businesses with proven concept and the potential to expand rapidly; helping established UK businesses to grow faster and create new jobs."
David French, Relationship Director, Santander Corporate & Commercial, said: “We are delighted to provide funding to support the expansion of Aspinal at this key time for the company. The management team have identified a strong opportunity for growth and we have been able to provide the funding and support to help Aspinal capitalise on its strong brand positioning. It’s clear that Aspinal is primed for further growth and we wish them every success."
Copyright © 2022 FashionNetwork.com All rights reserved.