Yorkshire fashion brand heads for Carnaby Street

AQUA Couture, the Leeds-based fashion brand, has announced a new store in London’s iconic Carnaby Street after securing an EFG loan. 

Julie Lingard, the owner of Aqua Couture, has secured a £75,000 Enterprise Finance Guarantee (EFG) loan from The Royal Bank of Scotland (RBS) to fund the expansion after interest grew in her own-label products.

The loan is part of the scheme launched by the Government last year to provide working capital and investment finance to SME businesses.

Under the terms of the scheme the Government guarantees 75% of any loan and the bank covers the remaining 25%.

Aqua Couture was established in 1999 with the Victoria Quarter store opening in 2006.

In 2008 the online fashion retailer www.asos.com agreed to sell the Aqua brand from their website and the Aqua label is now the biggest seller on the site after the ASOS brand itself.

Ms Lingard has taken the decision to further push the Aqua brand by opening a store on the pedestrianised Carnaby Street in London’s Soho district as a result of impressive sales both in the Leeds store and online. 

The street is home to numerous independent boutiques and has been the hotspot of the UK fashion scene since the 1960s.

She said: “We have established ourselves in Leeds as a strong and leading fashion brand and have a fantastic team of designers and a loyal customer base.

“Our online sales are impressive and it’s clear to me that there is a desire for the Aqua brand outside of Leeds and where better to go than Carnaby Street.”

Simon Heald, RBS relationship manager said: “It’s great that through the EFG scheme,RBS have been able to help put this successful Yorkshire business on the radar of the UK’s fashion industry and see Aqua expand its retail presence into the heart of the capital.

“We are always looking to support ambitious SMEs with a good business model and Julie’s fashion brand certainly meets the criteria.”