Whispering Smith fashions £14m funding deal

NORTH West fashion business Whispering Smith Group has agreed a £14m funding deal to boost its growth.

The family-owned company, formerly known as Rajan Imports, is a £50m turnover  designer,  importer, wholesaler and distributor of innovative fashion clothing for major high street stores in the UK and across Europe.

Barclays has agreed to provide a trade and working capital facility of more than £14m to support the company’s import requirements.

The deal was arranged by Jane Khaliq, relationship director for retail and wholesale at Barclays corporate banking in Manchester.

Whispering Smith employs around 170 staff with operations in London, New York, Hong Kong, Madrid and Germany and supplies brands such as French Connection, Blue Inc and New Look.

Rajan and Sanjay Kumar, joint managing directors of Whispering Smith, said, “We have developed a strong relationship with Barclays as we want a bank for the long-term that supports our aims and ambitions with a relationship team who understand our business.”

Jane Khaliq added: “We were able to develop an innovative funding structure by joining trade and working capital together in a way that has not been done before.

“By continuing to provide the trade and working capital lines to support their ongoing strategic plans, I’m confident Whispering Smith will take full advantage of the opportunities in the markets they operate in.”

Whispering Smith was advised by DTE on new facility.