Vanquish Fitness, a leading e-commerce retailer specialising in athleisure and gym wear, has secured a £1 million trade loan from NatWest, backed by UK Export Finance (UKEF). The funding will enable the business to enhance its cash flow management, partner with international suppliers more efficiently, and expand its inventory procurement capabilities to fuel growth and expansion.
Founded in Tottenham in 2014, Vanquish focuses on supplying high-quality active streetwear to a global customer base, with significant sales in the UK and the US, pursuing its ultimate ambition to establish itself as a major player within the athleisure and gym wear market.
With the support of NatWest and backing from UKEF, Vanquish Fitness is well-equipped to achieve its strategic goals and drive further success. The trade loan facility provided by NatWest offers Vanquish Fitness the flexibility to draw down funds as needed, ensuring that they can maintain stable supply chains and respond swiftly to market demands or opportunities, as well as mitigating risks related to stock shortages and delays in product delivery.
Oliver Maloney, CEO and Co-Founder of Vanquish Fitness, commented on the deal: "This funding from NatWest is a game-changer for us. It allows us to manage our cash flow more effectively, ensuring timely payments to our suppliers and preventing any disruptions in our supply chain. With this support, we're well-positioned to continue our growth trajectory and explore new market opportunities as well as building on our success in the US."
The trade loan, supported by a UKEF guarantee, is part of NatWest's broader strategy to invest significantly in trade finance, providing working capital support to businesses and opening doors for growth opportunities across the globe.
Ayaz Sadiq, Relationship Director at NatWest, said: "By leveraging our trade finance solutions and specialist expertise, we are able to support businesses like Vanquish Fitness who want to take the next step in levelling up their business and achieving growth in new areas.”
Ellie Morrison, Trade Finance Manager at NatWest, added: “This funding provides the necessary working capital to help the business overcome cash flow challenges and achieve its growth ambitions, something which exemplifies our commitment to supporting SMEs and fostering economic growth."
Keisha Silvera, Export Finance Manager at UK Export Finance (UKEF), said: "We're pleased to support Vanquish Fitness in partnership with NatWest. They’re a business that’s ready to build on their strong domestic foundation and scale up in key export markets like the US.
“By providing the guarantee to NatWest’s trade loan, we're helping Vanquish Fitness maintain reliable supply chains whilst they pursue their growth ambitions in the competitive global athleisure market. This shows exactly what UKEF is here for: to help British businesses overcome financing barriers and compete successfully on the world stage."
Photo: Vanquish Fitness (jpg, 3.4MB)
