Independent British lifestyle brand Oliver Bonas has announced ambitious plans to open eight new stores this year, resulting in some 80 new jobs.
With the support of a 15 million pound revolving credit facility from HSBC UK, the expansion will begin with the opening of a new store in Gatwick North Terminal.
Oliver Bonas, which currently has 77 stores across the UK, said that the decision to add more stores to its portfolio despite such a turbulent retail climate was made in line with increasing demand for its stores in new regions across the UK, following successful store openings on high streets such as Harborne in Birmingham, Exeter and Milton Keynes.
The brand added that HSBC’s funding will additionally help support the business and allow it to invest in new products, and develop its in-house design capability.
Commenting on the announcement in a statement, founder and managing director of Oliver Bonas, Oliver Tress, said: “Whilst trade on the high street has been challenging, Oliver Bonas 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 Oliver Bonas 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 and leisure UK corporate banking, at HSBC, added: “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.”
Photo credit: Oliver Bonas