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Footasylum Funding

Footasylum Secures £35 Million Funding Package

Fueling its expansion & sustainability

COMPANY FOCUS
COMPANY:
Footasylum
FOUNDED:
Cheshire, 2005
VIEWS:

The Rochdale based sportswear & sneaker retailer, Footasylum, has secured a £35 million funding package from HSBC as part of their ongoing growth journey.

Founded by the original co-founders of JD Sports back in 2005 by David Makin & later John Wardle with a single shop in Cheshire, Footasylum has grown to become a household name for all things tracksuits & trainers. Located in the majority of city centres, shopping malls & towns across the UK, Footasylum has pioneered influencer marketing with its social media channels working with everyone from top Man United players to regional Grime artists. After recently posting record pre-tax profits of of £6 million, Footasylum has now secured a £35 million funding package from HSBC to fuel its expansion & sustainability. The funding also includes a Sustainability Improvement Loan, which could benefit the Greater Manchester based retailer if they hit pre-agreed sustainability targets for lower interest rates.

The funding will allow Footasylum to continue their UK retail growth plan, with new stores in Aberdeen, Warrington, Doncaster, Rotherham & Wrexham all opening their doors by the end of 2024. Footasylum will also invest further into their omnichannel technology to create an even better digital experience as well as a focus on sustainability, aiming to achieve carbon net-zero by 2030.

This funding from HSBC UK is a key milestone in our growth journey and will help us achieve our ambitious environmental policy. It will enable us to not only expand our footprint in key locations across the UK but also accelerate our omnichannel technology investments, continue to grow Footasylum’s highly popular exclusive brands, and incubate the influencer talent that underpins our unique and highly successful marketing strategy. We’re hugely excited about the opportunities ahead and the positive impact these plans will have on both our business and the communities we serve.

Nick Scott, CFO Footasylum 

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Founder & CEO - KULT