High end fashion retailer completes relocation following six-figure finance deal
A Cheshire-based high end fashion retailer has acquired and moved to new shop premises with support from HSBC UK.
Black White Denim, named after the three fundamental pillars of a stylish woman’s wardrobe, has acquired a new 1,600 sq ft premises on Water Street in Wilmslow.
The retailer, with the support of a six-figure funding package from HSBC UK, completed the deal for the new property as the business’s pre-existing rented tenancy on Alderley Road drew to a close.
The move to Water Lane, one of the busiest shopping destinations in Wilmslow, is expected to generate a 20% increase in turnover over the next 12 months.
The move also coincides with, and facilitates, Black White Denim significantly increasing its sustainability credentials, having just received Green Mark accreditation.
A more minimal store layout will help maintain social distancing measures while the whole first floor has been allocated to online orders from across the UK and overseas which have increased substantially during lockdown.
Owner, Jo Davies, said: “Our previous tenancy was coming to end in Autumn 2020 so, once the opportunity came to acquire this new unit and own the property, we were keen to act quickly.
HSBC UK understood our ambitions clearly and supported us at every step throughout the acquisition process. Owning the property will generate significant rent savings for the business and eventually boost our cashflow.
She added: “Moving to Water Lane signals an exciting new chapter for the business and follows an incredibly turbulent time for all retailers across the UK.
“While online sales were up by as much as 50% on previous years, we still felt confident that people would also return to the high street once it was safe to do so. We’re incredibly grateful to our customers who have supported us throughout lockdown and we look forward to seeing faces old and new when the new shop doors open.”
Sam Roden, area director for HSBC UK, Greater Manchester and Lancashire Business Banking, said: “COVID-19 has obviously caused a lot of disruption for retailers, but Black White Denim were quick to react and adapt to changing conditions.
“Once it became apparent that the business was interested in acquiring a new property, we were pleased to provide the funding.
“Black White Denim is an excellent example of an independent retailer backing up ambitious plans with high street investment.”
Black White Denim stock brands such as J Brand, Anine Bing, Bella Freud and Golden Goose.
The deal was completed with support from HSBC UK relationship managers Hoan Tu and Joe O’Connor, and Sam Roden.