“This funding from HSBC United Kingdom (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”, commented Nick Scott, Footasylum’s Chief Financial Officer.

Footasylum has secured a revolving credit facility from HSBC UK of 35 million British pounds (42 million Euros) to support its expansion in the United Kingdom and sustainability initiatives. The retailer aims to use the funding to open new stores across the UK, enhance its digital technology and further develop its exclusive brands.

Part of the funding also includes a Sustainability Improvement Loan (SIL), which ties the company’s environmental progress to more favourable interest rates. This loan arrangement incentivises Footasylum to meet specific environmental targets in exchange for reduced borrowing costs.

As part of its ongoing expansion, Footasylum has already opened several large stores since September 2023, including a new flagship store on London’s Oxford Street. Upcoming plans include further openings in Warrington, Doncaster, Rotherham and Wrexham, as well as an expansion of the Merry Hill store to triple its current size. These expansions are expected to create over 100 new jobs across the UK.

Beyond retail expansion, Footasylum is investing in technology by developing a modular mobile-first omnichannel solution to support in-store and online shopping. This technology upgrade aims to enhance the customer experience by ensuring seamless interactions across digital and physical channels.

The company also intends to strengthen its exclusive brands, including Zavetti Canada, Alessandro Zavetti and Monterrain, with resources dedicated to brand development and visibility. The funding will allow the retailer to meet the growing demand for these lines.

In line with its SIL, Footasylum has committed to significant environmental targets, including achieving net zero carbon emissions. The company has been offsetting emissions since 2020 and aims to have a fully electric or hybrid fleet by 2025, with 70% of its current logistics already powered by biodiesel.

Zubayr Atcha, Global Relationship Director for Corporate Banking at HSBC UK, expressed enthusiasm for the agreement: “We are pleased to support a leading omnichannel retailer such as Footasylum in its next phase of growth. This funding will provide the flexibility needed to drive expansion plans, support their sustainability strategy and further establish the retailer’s presence in the fast-growing street and sportswear market”.