Online fashion retailer receives ‘significant finance’ for growth

Manière De Voir clothing

Online fashion retailer, Manière De Voir, has secured a significant finance facility from HSBC UK to facilitate the purchase of additional stock to respond to increased customer demand since the start of the COVID-19 pandemic.

With the business seeing rapid growth during the nationwide lockdown in March, seven-figure specialist international trade funding from HSBC UK has supported the business in acquiring increased levels of stock to help ensure the future growth of the business.

Manière de Voir was launched in 2013 by former Manchester City and England U20 footballer Reece Wabara, 28, who retired from the game in 2017 to concentrate on the business.

That decision has paid off, with its sales growing 42% a year to reach £10.3m in 2019, with America now accounting for more than a quarter of revenues.

It was placed 86th last weekend in the latest Sunday Times Virgin Atlantic Fast Track 100 league table which ranks Britain’s private companies with the fastest-growing sales.

With growth now exceeding 140% on last year, part of the finance facility has also been used to support Manière De Voir’s 10-year growth strategy and enable the company’s move from its 12,000 sq ft premises in Manchester to a new 50,000 sq ft warehouse in Birchwood, Warrington.

Manière de Voir has not only seen increased growth across its UK market but also internationally with the retailer now exporting to 98 countries worldwide where the USA is now the company’s second largest market.

Richard Udeze, finance director at Manière De Voir, said: “When the lockdown came into effect earlier in the year we were very grateful for the additional support from HSBC UK, and in particular from our relationship director Georgina Dempsey.

“The funding from the bank meant we could source the additional stock required ensuring the business met the ever-increasing customer demand. As a result, we have seen huge growth, breaking company records for the numbers of products sold, particularly across our loungewear, and womenswear ranges.”

Chief executive, Reece Wabara, said: “The facility has allowed us to plan further in advance and, therefore, the majority of our stock intake is via sea freight. This strategy has resulted in a significant improvement in margins, allowing us to reinvest further into elevating the product, increasing stock levels and improving the overall customer experience.”

Suzy Verma, from HSBC UK, said: “We were pleased to be able to provide an additional facility to help the team at Manière De Voir meet the increased demands from its customers and continue to expand its business internationally.

“The business has already seen strong growth over the last six months, and we look forward to continuing to work with the team to help realise its future growth strategy ambitions.”

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