Eight-figure support deal will help clothing distributor achieve international expansion
An eight-figure asset-based lending facility will help drive international growth for an expanding clothing distributor.
Ralawise, based in Deeside, near Chester, has been supported by HSBC bank and is set to embark on expansion across the country and also internationally into Europe and US markets.
Ralawise will use the funding to increase its stockholding capacity by 50%, enabling it to cater to a broader range of UK and international businesses. As a result of this growth, Ralawise is anticipating a significant increase in turnover over the coming months.
HSBC UK funding will also enable the business to navigate the industry-wide challenges of increased cost of garments, supply chain disruption and operating cost inflation.
Stuart Banks, Finance Director at Ralawise, said: “We are immensely proud of how Ralawise has grown over the last 40 years into a company with turnover approaching £200m.
“Transitioning from a family business serving the local market, to an international group supplying circa 4,000 products to over 15,000 companies in more than 50 countries really is amazing.
“We love to help businesses enhance their brand and create a community with our products. We look forward to doing this on a wider scale with HSBC UK support in 2024.”
Matt White, Senior Business Development Manager at HSBC UK, said: “Ralawise’s evolution over recent years shows the organisation’s commitment, resilience and innovation. We’re thrilled to support with this expansion and look forward to seeing the business establish its community internationally.”
Ralawise was established in the Baston family kitchen during the late 1970s.
It has grown from supplying local souvenirs to stocking more than 120 brands. It currently serves clothing businesses across the world from its offices in Deeside, Ireland and Germany, and multiple distribution centres in the UK, Europe and US. It employs 620 staff globally and expects this to increase following the bank’s support.
