Bespoke jewellery designer eyes ambitious growth after £800k funding boost

From left: Karen Vincent (RFG), Dave Rosalski, Gemma Wright & Mike Calvert (RFG), Imogen Riddy (ChloBo) Ian Adams

Chester-based handmade jewellery designer, ChloBo, is eyeing ambitious growth, thanks to an £800,000 investment arranged by Wirral-based finance specialists Bathgate Business Finance.

The funding package, which was facilitated by Manchester-based SME funder Reward Finance Group, has allowed the fashion jewellery brand to secure improved terms with suppliers, arrange faster stock turnaround and re-engage its ambitious growth plans.

The family-owned brand turned to finance specialists Bathgate to help provide additional working capital to support its growth strategy. The deal comprised £500,000 invoice finance and a revolving secured £300,000 facility.

Growth plans include investment into social media and the firm’s online presence, extension of its retail partners, product diversification and expansion into new, international markets.

The business was founded in 2005 by Chloe Moss, who was inspired to make handmade sterling silver jewellery after a trip to Bali.

The brand, which has developed significantly since its establishment and now also produces gold-plated jewellery, is renowned for its ‘stackable’ and on-trend designs.

At present the brand distributes to 152 stores, with 50 new retail partners being added each year and its online sales continue to grow, as shopping habits change.

Dave Rosalski, ChloBo chief executive, said: “Working with Bathgate and Reward has been interesting, challenging and rewarding – if you’ll pardon the pun.

“As a small business in the current trading climate we were finding it very difficult to source the investment we needed to support our business plans.

“Ian Adams, from Bathgate, spent a great deal of time understanding our business and how we operate and from that pulled together a sound case for funding.

“We’re delighted to now be able to re-engage our growth strategy.”

Ian Adams said: “ChloBo is a fantastic family-run brand with the potential to grow exponentially both online and into international markets.

“It was wonderful to once again work with Reward Finance Group to facilitate a finance package that will allow ChloBo to continue to expand. We’re looking forward to seeing the brand thrive.”

Reward Finance Group business development director, North West, Mike Calvert, said: “Having been introduced to ChloBo by Bathgate we visited the company and quickly recognised that, like many other companies, its growth was being held back due to cash flow constraints.

“It has an excellent management team in place, a top-quality jewellery range and a sound business plan. We, therefore, had no hesitation in providing the funds to enable ChloBo to enjoy even greater success.”

Click here to sign up to receive our new South West business news...
Close