Independent British lifestyle brand, Oliver Bonas, is embarking on an ambitious store expansion plan, with the support of a £15m Revolving Credit Facility from HSBC UK.
Oliver Bonas, which currently has 77 stores across the UK, will be opening at eight new stores in 2019, kick starting the programme with the opening of a new store in Gatwick North Terminal. The expansion strategy will create at least 80 new jobs as the firm enters new markets across the UK.
The HSBC UK funding will continue to support the business as it grows and develops, allowing Oliver Bonas to invest in new products, develop its in-house design capability and finance the new stores.
Despite a turbulent retail climate, Oliver Bonas has experienced increasing demand for its stores in new regions across the UK, having had successful launches on high streets such as Harborne in Birmingham, Exeter and Milton Keynes. While the company’s core trading centre remains in London, which is home to half of the brand’s outlets, its growing portfolio of stores across the UK have been vital to its success in the face of challenging circumstances.
Oliver Tress, founder and managing director of Oliver Bonas, said: “Whilst trade on the high street has been challenging, OB continues to grow. We have stuck to the core principle that makes our lifestyle offer unique: doing our little bit to make living a joyful experience. For us, this means best in-class customer service, a welcoming and inspiring experience in store and online and a highly curated homeware and fashion collection, all designed in house in our OB Studio.
“Our relationship with HSBC UK has centred around a supportive team that has recognised that the evolving retail market is opening up opportunities for vertical brands with a loyal customer base. HSBC has seen the value of the Oliver Bonas brand today – and how we are well placed to take advantage of this shift in the retail market in the UK and overseas.”
James Sawley, head of retail & leisure UK Corporate Banking, HSBC UK added: “The key to Oliver Bonas’s growth has been in the development of its in-store experience. Starting with great customer service and interior design, the company has developed further experiential activities that range from life drawing classes and book launch events to panel talks. While the negative narrative surrounding the retail space continues, we’re thrilled to be able to support a company that proves there is still potential in bricks and mortar retail.”