Marmalade of London, A luxury British fragrance brand has secured a six-figure funding package from HSBC UK to increase its footprint in the US and Canadian retail market, purchase a new environmentally friendly commercial unit and expand its range of products.
Marmalade of London, which has sold millions of products in its first ten years of operation, has traded in the UK for ten years and in the US for the past two. As it experiences increased demand, particularly in the US, HSBC UK’s funding is enabling the company to expand its offer with the launch of a wellbeing range and open new permanent showrooms in Atlanta, Los Angeles, Las Vegas, and Toronto.
The funding has been secured from the £15bn HSBC UK SME Fund, a ring-fenced fund for small and medium sized businesses to support local economies and increase employment opportunities across the UK.
HSBC UK’s financial support will enable the business to purchase and fit-out a new, 25,000 square foot environmentally friendly warehouse and office facility, complete with machinery and showrooms. The new premise features low air permeability design, high performance insulation and cladding, and electric vehicle charging points. One thousand new trees have also been planted around the site to benefit the local environment. The increased space is expected to triple Marmalade of London’s production capacity.
The funding has also created 25 sales roles for the LA and Las Vegas showrooms, and 10 in Toronto, bringing the company’s total headcount in North America to 100.
“It’s an exciting time for our business. We’re increasing our domestic and international business, expanding our product range to enter new markets including skincare, and increasing our investment in innovation.Piers Flook, Managing Director of Marmalade of London
Piers Flook, Managing Director of Marmalade of London, said: “It’s an exciting time for our business. We’re increasing our domestic and international business, expanding our product range to enter new markets including skincare, and increasing our investment in innovation. Our new, eco-friendly warehouse facility will also decrease our CO2 emissions and our occupying costs, too. As we pursue multiple growth opportunities and a range of innovations, we’re incredibly grateful to have HSBC UK’s support and expertise.”
Mark Lupton, Area Director for Business Banking at HSBC UK, added: “Marmalade of London is taking full advantage of the buoyant US consumer fragrance market, having sold hundreds of thousands of products in the first two years of trade in the US. We’re pleased to support the ambitious British business with its international growth plans, whilst also reducing its environmental impact through the new factory and product development centre.”
The new, permanent showroom is now open in Las Vegas at the World Market Centre and joins the most comprehensive furniture, home décor and gift market in the United States. Las Vegas’ growing populace and tourism revival has motivated retail expansions in the last 18 months, coinciding with a 3 per cent quarterly increase in retail sales.
Marmalade of London is a luxury British fragrance brand with a passion for fragrance and design, creating collections with natural ingredients such as shea butter, soy wax, and essential oils. Its new collection, Marmalade Wellbeing, received a prestigious industry accolade by the Gift of the Year Awards 2022, being recognised as Highly Commended. Its products are available direct to consumer via the company’s website, as well as in stores across the UK, US and Canada.
Marmalade of London was advised by Jon Ewings, Relationship Manager at HSBC UK.