News

British outdoor kit and camping brand Alpkit has received a £2.7 million funding package from HSBC UK, backed by UK Export Finance (UKEF) to help support its international growth. Alpkit has plans to use to funding to purchase more stock to meet increasing demand, as well as for investment in new product category development such as footwear. The company already produces a wide range of outdoor equipment including tents, camping accessories, technical outdoor clothing, cycling and outdoor swimming products and sells them through eight brick and mortar retail locations around the UK as well as an online shop. Alpkit has plans to continue to grow its physical retail network in the UK as well as meet the increasing overseas demand it is currently experiencing.

The funding package from HSBC UK includes a £2 million General Export Facility (GEF) backed by UKEF, the government’s export credit agency. The scheme, which launched last December, has already provided over £275 million for businesses across the UK, and can be used by firms to help cover everyday costs linked to exporting and to scale up their business operations.

Alpkit’s chief executive, David Hanney, said: “This deal will help accelerate our growth as we look to capitalise on a significant increase in demand domestically and internationally. It also means we can invest in innovation to create lower impact, long-lasting technical outdoor gear that is both repairable and recyclable.

“HSBC UK has stood side by side with us, providing support through the good and the challenging times. Our Relationship Manager at the bank, Anthony Greenfield, has been a constant source of support and reassurance which has been immensely valuable.”

Alpkit currently donates one per cent of all its turnover to the Alpkit Foundation, a charitable organisation set up by the company’s founders that supports grass-roots and direct action projects to remove the barriers in getting people outdoors.