Bargain Max secures funding to support growth plans
Online toy retailer Bargain Max has secured a seven-figure funding package from HSBC UK to support its growth plans.
The Manchester based company will use the funds to increase its stock and product range by over 60% in the next 12 months and to grow brand awareness through social media campaigns. It will also be further developing its website.
Gigi Mechlowitz, managing director of BargainMax.co.uk, said: “Being an online-only retailer, we were well-prepared when the pandemic started and could continue our two-to-four-day lead time on deliveries whilst experiencing a significant boost in demand. We will continue to deliver this quality of service through investments in new products and ecommerce solutions. Online retail businesses have experienced a lot over the last 12 months but we’re confident that our ambitious growth strategy will put us at the forefront of the toy sector.”
Bargain Max currently offers over 2,500 products for children aged 0 to 12, including from leading brands such as Barbie, Lego, LOL Surprise & Paw Patrol. The expansion means the company will be recruiting more staff this year at both its Manchester head office and warehouse.
Zubayr Atcha, corporate relationship director at HSBC, said: “BargainMax.co.uk has grown rapidly both domestically and in Europe and, in the last year. This funding enables the business to build on its impressive track record and will stand it in good stead within the world of online retailing.”
