Scottish Active Lifestyle specialist eyes growth following £2.75 million UK backing

Posted: Nov 28, 2019

A Scot­tish active lifestyle dis­tri­b­u­tion busi­ness has secured a £2.75 mil­lion re-financ­ing pack­age from HSBC UK to help it con­sol­i­date growth and sup­ply new dis­tri­b­u­tion channels.

Edin­burgh-based 2Pure employs 35 peo­ple and dis­trib­utes brand­ed active lifestyle prod­ucts in the run­ning, cycling and out­door sec­tors. It plans to use the bank’s fund­ing for ongo­ing invest­ment in the busi­ness by enter­ing new retail chan­nels, grow inter­na­tion­al­ly and devel­op­ing brand-spe­cif­ic dig­i­tal plat­forms to com­mu­ni­cate direct­ly with the end consumer.

The deal is split between invoice financ­ing and struc­tured trade lines, as well as oth­er trans­ac­tion­al facil­i­ties, will also be used to help the busi­ness safe­guard against both a volatile retail mar­ket and the uncer­tain­ty of the Brex­it out­come on 31st Jan­u­ary 2020.

George Bowie, Man­ag­ing Direc­tor, 2Pure, said:

The cur­rent con­sumer retail and polit­i­cal envi­ron­ments are more volatile now than ever and HSBC UK’s finan­cial sup­port means we can take our time to plan strate­gi­cal­ly, con­sol­i­date our recent growth and make con­sid­ered plans for 2020 and beyond.

We have ambi­tious plans to grow the busi­ness inter­na­tion­al­ly and through new, retail chan­nels, as well as offer the option of sell­ing direct­ly to con­sumers. We were impressed with HSBC UK’s exper­tise and the tools they could pro­vide as a funder.”

Ken­ny White, Rela­tion­ship Direc­tor at HSBC UK, said:

George has built a robust and suc­cess­ful busi­ness and we’re pleased to be able to help him ensure it nego­ti­ates the chal­lenges that Brex­it and oth­er retail trends pose in the strongest pos­si­ble posi­tion. George has excit­ing plans and we look for­ward to fol­low­ing 2Pure’s progress in the months and years to come.”

The finance was allo­cat­ed from HSBC UK’s nation­al SME Fund, which aims to active­ly help UK busi­ness­es realise their ambi­tions for growth and nav­i­gate Brex­it. The new £14 bil­lion SME Fund has recent­ly been announced by HSBC UK, with £650 mil­lion com­mit­ted to sup­port­ing SMEs in Scotland.

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