Fitflop secures long term funding to accelerate ambitious growth plans
FitFlop has secured a new 5-year $30 million revolving credit facility from the independent lender AURELIUS Finance Company (AFC) to support its long-term growth ambitions.
The proceeds of this flexible funding solution will support an increased investment in branding, marketing, and advertising, driving the company’s transformative growth strategy.
In the last 12 months, FitFlop have entered a significant number of new wholesale partnerships across EMEAI and the US, taking their door count to over 5,700. The brand has also been featured in Tokyo Fashion week and has continued to extend their fleet of own
retail stores, with an aggressive rollout in India with their partner Metro Brands, and a New York store set to open in mid-April.
This funding marks another step forward for the brand, as FitFlop continues to deliver a unique footwear offering leveraging its deep understanding of biomechanics, ergonomic design, and contemporary styling.
FitFlop’s strong financial performance and continual resilience justified a funding solution with a lower cost of capital, which through its secured funding line with Wells Fargo, AFC was able to provide.
Gianni Georgiades, Chief Executive Officer of FitFlop, comments: “This funding with AURELIUS represents a tremendous show of confidence in the growing strength and resilience of our progressive brand. It’s now time to put the money to work and accelerate our ambitious growth plans.”
Karun Dhir, Managing Director of AURELIUS Finance Company, comments: “FitFlop’s successful turnaround is a result of the management team’s strong leadership and resounding resilience in challenging times. AFC was pleased to have played a significant role in supporting the company throughout this period by providing flexible financing and establishing a bespoke facility tailored to its capital requirements.”
“AFC is relationship-driven, and we pride ourselves in taking the time to understand our client’s needs and supporting them to achieve their objectives. This new facility has been designed to provide the company with the means to target further growth as the FitFlop management
team seeks to capitalise on the opportunity their strategic transformation has opened.”
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