Online toy company increasing staffing levels following seven-figure funding deal
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Manchester online children’s toy and games retailer, BargainMax.co.uk has secured a seven-figure funding package from HSBC UK to support its ambitious growth plans.
The company will use the funding to increase its product range and stock by more than 60% in the next 12 months.
This expansion follows consistent successful performance since the start of the company and high levels of growth, especially over the past year.
The HSBC UK funding will also be used to increase brand awareness via targeted social media campaigns and support ongoing website development.
The expansion means the business is anticipating a staff increase this year in both its Manchester head office and warehouse.
Gigi Mechlowitz, managing director of BargainMax.co.uk, said: “Being an online-only retailer, we were well prepared when the pandemic started and could continue our two-to-four-day lead time on deliveries whilst experiencing a significant boost in demand.
“We will continue to deliver this quality of service through investments in new products and e-commerce solutions.”
Gigi added: “Online retail businesses have experienced a lot over the last 12 months, but we’re confident that our ambitious growth strategy will put us at the forefront of the toy sector.”
Zubayr Atcha, corporate relationship director at HSBC, said: “BargainMax.co.uk has grown rapidly, both domestically and in Europe, and, in the last year. This funding enables the business to build on its impressive track record and will stand it in good stead within the world of online retailing.”
BargainMax.co.uk, part of the Prestwich-based Chartwell Partnership, currently offers more than 2,500 products for children up to 12 years of age, including recognised brands such as Barbie, Lego, LOL Surprise and Paw Patrol.
The funding was allocated from HSBC UK’s national SME Fund.