London-based formalwear retailer and supplier Threadology has received a seven-figure import trade finance loan from HSBC UK, as it scales up operations following an increase in demand.
The company has seen a sharp increase in demand, with weddings and formal events returning post-pandemic restrictions easing. The business has also recently secured an exclusive partnership with Fraser Group, titled ‘Future in Formal’ which launched across House of Fraser stores this year.
HSBC UK funding has allowed the company to import increased levels of stock, enabling it to meet rising demand and support future growth plans.
Jason Gerrard, CEO of Threadology, said: “It is an extremely exciting time for the business as we have seen rapid and consistent growth across all of our brands. We are grateful to HSBC UK for understanding and supporting our business model and our growth ambitions in the sector. We are pleased to further this growth by partnering with the Fraser Group and continuing to grow our reputation as disruptors in the tailoring market this year.”
Chris Chambers, HSBC UK area director for London City Business Banking, added: “The formalwear sector is a rapidly expanding industry – and HSBC UK is delighted to support Threadology as it continues to develop. The business has ambitious growth plans, and we’re pleased to be able to support what promises to be an exciting future.”
Formed in 2016, Threadology has adopted a near shore business model and imports its fabric and products from Europe and Turkey. The business prides itself on this sustainable model and provides high-quality products in short lead times. The business has seen considerable success with its online marketplace, TwistedTailor.com, and also sells its own brands on ASOS and Zalando. The brand focuses on innovative tailoring and design and employs an up-and-coming design team passionate about pushing the boundaries of fashion.