Schoolwear firm Rowlinson hungry for growth
A NORTH West personalised schoolwear supplier is gearing up for growth.
Defying challenging market conditions – which has seen the price of cotton soar over the last two years – Stockport-based Rowlinson Knitwear has grown sales and profits.
The £10m turnover, 40-strong company, which supplies retailers including John Lewis, has moved its banking from Lloyds to HSBC to help its international business to become more efficient and make the group more profitable.
Rowlinson Knitwear, which was founded in 1935 holds around 50% of the UK personalised traditional knitwear market and operates on an international level, importing from across Asia and North Africa, distributing to hundreds of retailers.
It owns the Performa brand, which supplies polo shirts and Snowgoose, a winter fleece brand, as well as knitwear specialists Courtelle Gold and Rowlinson Supacryl.
HSBC has provided a full range of banking facilities including a traditional overdraft and products to protect against foreign exchange risk in its international operations.
Managing director Donald Moore, said: “Over the last 10 years we have grown our turnover fivefold and our profits 10-fold and our focus is on delivering more of the same.
“The specialist education market is worth about £200m so there his plenty for us to go at.”
Rowlinson sources its product in Egypt and Asia and then personalises the uniform in Stockport, offering its retail customers quick turnaround times of delivery with five days.
Mr Moore added: “Our operations span across the world in several countries from Asia to Africa, so we needed a bank with a high level of international expertise which could provide us with a tailored and flexible financial package.
“Given our trade with Asia, we were particularly impressed with HSBC’s ability to offer us Renminbi accounts while also helping us protect against foreign exchange risk, which is a key financial priority for the business.”
Chris Wormall, HSBC’s deputy regional commercial director for Manchester, said: “Rowlinson Knitwear s a prime example of a forward-thinking business that has a strong customer base across the UK and a focus on conducting ethically-sound and environmentally friendly business.
“Rowlinson has been strategic in taking advantage of international business expansion opportunities and has gone from strength to strength, now servicing most schoolwear specific retailers in the UK. We are excited to be supporting the future plans for such a strong British business.”
