Finance package to help turbocharge growth at sports and fitness retailer
A Hebden Bridge-based sports and fitness equipment company has secured a multi-million pound finance package from HSBC UK to support growth and international trading over the next year.
Bluefin Trading, a retailer of home fitness, wellbeing, water sports and outdoor equipment, will use the finance package from HSBC UK to support the continued import and export of its product ranges in Europe and beyond.
Despite difficult trading conditions, the business has already seen recent significant expansion, increasing from 25 employees in 2020 to 55 employees in 2021, due to a digital transformation aiding national and international trading processes.
The funding has enabled the business to boost imports of stock in preparation for Black Friday weekend, as well as further develop a rapidly growing e-commerce platform ahead of an anticipated boost in international sales in the run up to Christmas.
As a result of the HSBC UK funding, the business is now forecasting 70% growth in turnover over the next 12 months.
Will Vaughan, founder of the company, said: “Our business continues to grow consistently year-on-year, despite challenging market conditions.
“We’ve digitally transformed Bluefin and rapidly advanced our trading process at a national and international level, making us incredibly well-placed to deliver excellent results during the critical Christmas trading period.
“We thank HSBC UK for enabling us to extend our trade facilities and offer its international expertise as we continue to scale-up the business to develop exciting new opportunities for our employees and customers.”
Stephen Smith, relationship director at HSBC UK, added: “We’re pleased to support Bluefin Trading and fund the latest trading facility of a business that has seen significant growth and maintained a robust consumer base in the face of global change.
“We look forward to seeing this multi-award winning business continue to expand and evolve domestically and internationally.”
