Uniform manufacturer aims for £1m turnover growth with help of six-figure funding package
A Leeds-based school and club uniform company is gearing up for expansion thanks to backing from a six-figure funding package from HSBC UK.
Perry Uniform, established in 1946, makes and sells distinctive uniforms to prestigious schools and formal wear for universities and sports clubs in the UK, US and Australasia, including University of Cambridge.
To meet demand for its products, the business has used HSBC UK’s funding to scale up its workforce through an apprenticeship programme in association with Keighley College. As a result, Perry will create six roles for apprenticeship machinists over the next 12 months at its 35,000 sq ft factory in Armley.
Perry anticipates it will increase production by 35% over the next 12 months and the business is projecting turnover will grow by £1m over the next 15 months.
The funding will allow the business to overcome the cash flow challenge of expanding in a highly seasonal market, where manufacturing takes place throughout the year before stock is converted into sales at the start of each academic year.
Perry manufactures all its blazers and coats at its Armley factory using cloth woven in West Yorkshire, before being processed through a bar coded warehouse.
The business sells to a global customer base via an online retail platform, alongside three showrooms in Knightsbridge, London. It employs 46 people and had sales worth £5m in 2018.
Bernard Bunting, Managing Director at Perry Uniform, said: “We’re extremely proud of our manufacturing heritage and we’re committed to retaining and developing traditional skills in Leeds.
“Looking to the future, it is HSBC UK’s financial backing that will allow us to cover the upfront manufacturing costs unique to our business model and support our apprenticeship programme. The programme is not only crucial to our future growth but gives local youngsters the chance to learn a trade for life from our master tailors and machinists.”
Tom Sproson, Business Banking Relationship Directorship for North & West Yorkshire, HSBC UK, said: “We have a long-term relationship with Perry after funding the business’s expansion in 2013. Manufacturing is a critical part of West Yorkshire’s economy, so we are delighted to be part of the apprenticeship development programme and Perry Uniform’s continued growth.”
