Jack Wills to open 10 new stores in the UK and Asia this year
British lifestyle brand Jack Wills has plans to continue expanding in the UK and Asia to meet growing demand. Up to 10 new stores are scheduled to launch this year thanks to an improved funding package recently agreed upon with HSBC.
Under the terms of the new agreement, HSBC will increase Jack Will’s Revolving Credit Facility by £10 million to £30 million for the remainder of 2016.
The package will be used to support the label’s continued growth, as it builds on the strong trading momentum it has enjoyed since August last year, when its CEO Peter Williams returned to the company.
Peter Williams, Jack Wills CEO said: “we are very pleased with this additional support from HSBC, which is precisely why we chose them as our relationship bank two years ago. This gives us the opportunity to grow the business globally through the summer and on towards Christmas, building on the positive trading we have enjoyed over the past six months.”
Last year was crucial for the retailer, which offers university-inspired clothing and accessories for teenagers and young adults. In addition to the return of its CEO, the company decided against a float after a review of the business.
The planned store openings will be announced later in the year.
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