An award-winning outdoor goods retailer which has opened its first two stores in 2017 after trading online for over a decade has secured a £200,000 loan from Mercia Fund Managers to support its further growth.
Alpkit produces its own-brand high-performance outdoor clothing, equipment and sports kit, as well as custom-made titanium bikes under its Sondor brand. The company, which was established in 2004 and is based in Newthorpe, near Nottingham, opened its first store in Hathersage, Derbyshire in April, and a second in Ambleside, Cumbria in June.
Alpkit has grown rapidly under the leadership of its CEO David Hanney, who joined in 2014 and previously held senior roles at Go Outdoors and Planet-x bikes. It now employs 63 staff and has a customer base of over 200,000 in the UK and overseas. It donates 1% of turnover to its own charity, the Alpkit Foundation, to help people overcome any obstacles they have to participating in outdoor activities. The funding will help it to pursue its plans for future growth, including further stores openings in the years ahead.
David Hanney said: “We are delighted with the funding package from Mercia, which is truly aligned to our strategic goals, and impressed by the speed of delivery. Alpkit has grown six-fold in the past three years and we’ve created over 50 jobs. This funding will help us develop our website, enhance our product range, drive international growth and open more stores in the UK.”
Chris Carter, Investment Manager with Mercia Fund Managers, said: “Alpkit has built a highly experienced team who are outdoor enthusiasts themselves and committed to providing high quality goods 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 its new adventure to move from ‘clicks’ to ‘bricks’ and open stores in key locations around the country.”