A Yorkshire-based sports and fitness equipment company is forecasting 70 per cent growth after it secured a multi-million pound capital injection to boost stock levels ahead of the key festive trading period.
Bluefin Trading Limited, a retailer of home fitness, wellbeing, water sports and outdoor equipment, has also further developed its rapidly growing e-commerce platform on the back of the finance package from HSBC.
The Queen’s Award winning business was founded by Will Vaughan in 2013, picking up the international trade accolade earlier this year. It came on the back of revenues increasing from £13.6 million to £25.9 million in 2020.
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Sales into Europe and beyond have been further boosted.
Mr Vaughan said: “Our business continues to grow consistently year-on-year, despite challenging market conditions. We’ve digitally transformed Bluefin and rapidly advanced our trading process at a national and international level, making us incredibly well-placed to deliver excellent results during the critical Christmas trading period.”
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Recent significant expansion has seen it more than double headcount, increasing from 25 employees in 2020 to 55 employees now.
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The funding enabled the Hebden Bridge business to boost imports of stock in preparation for Black Friday weekend, as well as further develop a rapidly growing e-commerce platform ahead of the Christmas run-in.
It is now forecasting 70 per cent growth in turnover over the next 12 months.
Stephen Smith, relationship director at HSBC, said: “We’re pleased to support Bluefin Trading and fund the latest trading facility of a business that has seen significant growth and maintained a robust consumer base in the face of global change. We look forward to seeing this multi-award-winning business continue to expand and evolve domestically and internationally.”