An award-winning retailer of outdoor clothing, equipment and sports gear, based in Newthorpe, has secured a £200,000 loan to support its continued growth.
Alpkit, which produces its own high-performance goods, as well as custom-made titanium bikes under its Sondor brand, has traded online for more than a decade.
But in 2017, its ongoing success led to the opening of its first two high-street stores. And now the firm is set for more progress thanks to the loan from the equity and finance group, Mercia Fund Managers, which has offices across the country and more than 300 business in its portfolio.
Chris Carter, investment manager with Mercia, said: “Alpkit has built a highly experienced team who are outdoor enthusiasts themselves and are committed to providing high-quality goods that are affordable to customers at all levels.
“Despite the highly competitive nature of the outdoors market, the business has achieved impressive growth. This funding will support it as it embarks on a new adventure to move ‘from clicks to bricks’ and open stores in key locations around the country.”
Established in 2004, Alpkit is based at the Moorgreen Industrial Park on Engine Lane in Newthorpe. It opened its first store in Hathersage, Derbyshire in April, and its second at Ambleside in Cumbria in June.
The firm has grown rapidly under the leadership of chief executive officer David Hanney, who joined in 2014 after previously holding senior roles with Go Outdoors and Planet X Bikes. It now employs 63 staff and boasts a customer base of more than 200,000 in the UK and overseas.
It donates one per cent of turnover to its own charity, the Alpkit Foundation, which helps people overcome any obstacles they might have in participating in outdoor activities.
Mr Hanney said: “We are delighted with the funding package from Mercia, which is truly aligned to our strategic goals, and we are impressed by the speed of delivery.
“Alpkit has grown sixfold in the past three years, and we have created more than 50 jobs. This funding will help us develop our website, enhance our product range, drive international growth and enable us to open more stores in the UK.”