FRAGRANCE BRAND TARGETS EXPANSION IN NORTH AMERICA WITH HSBC UK FUNDING

Cheltenham-based luxury British fragrance brand Marmalade of London has secured a six-figure funding package from HSBC UK to expand in the US and Canadian retail market, buy a new commercial unit and expand its product range.

Marmalade of London, which has sold millions of products, has traded in the UK for 10 years and in the US for the past two.

HSBC UK’s funding will help the company launch a wellbeing range and open new permanent showrooms in Atlanta, Los Angeles, Las Vegas, and Toronto.

The funding has been secured from the £15 billion HSBC UK SME Fund, a ringfenced fund for small and medium-sized businesses to support local economies and increase employment opportunities.

Piers Flook, Marmalade of London’s Managing Director, said: “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 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.”