Independent pet shop retailer PamPurredPets has secured a six figure finance facility from HSBC to support its store expansion programme. The company is planning to increase its store network from 47 to 54 outlets over the next two years, focusing primarily on the M4 corridor and Southern England.
The family-managed company, which was founded in 1981 with its first store in Ferndown, Dorset, opened new stores in Wantage, Oxfordshire, and Rustington, Sussex, just before Christmas; and is due to open further outlets in Bristol and Bordon, Hampshire, in the coming weeks. The store expansion programme will lead to up to 50 new jobs, bringing total staff numbers to 385.
The company has secured a £250,000 funding package from HSBC’s Dorset Commercial Centre in a deal led by Senior international commercial manager Andy Farmer. PamPurredPets is a long-standing HSBC customer and the latest finance package further strengthens the relationship between the two organisations.
PamPurredPets was founded by current managing director Steve Fowler and his wife Debbie, and remains under family management with daughters Natasha and Samantha also working for the business. It specialises in food and accessories for dogs, cats, birds and small animals and its store portfolio includes small outlets within garden centres, high street locations and out of town shopping centres.
The company’s current store network includes outlets across the South, South West and Wales, with concentrations in Dorset, Hampshire and Sussex. It has a policy of opening stores of less than 5,000sq ft to help retain a personal approach towards its customer base. The business imports the majority of its accessories stock from China, Spain, Italy and the Netherlands as part of a buying group called Fab Creations.
Steve Fowler said: “Customers like the service we provide and we believe that by expanding our store network we will be able to take a greater share of the £950m pet food and accessories market. We are focusing our store expansion programme on locations where we believe we will enjoy 50% market share and, looking towards the future, we would like to look at markets with a strong ex-pat presence, such as Spain and Cyprus.”
HSBC senior international commercial manager, Andy Farmer, said: “PamPurredPets is an innovator in its market; Steve led the foundation of a buying group to import stock from the Far East and the company will be the second retailer after Tesco to install reactive digital marketing screens, which recognise the features of an individual’s face to tailor adverts specifically to them. We are pleased to support the company’s growth plans.”