Alpkit sells cycling and technical outdoor clothing and equipment and plans to expand both its product range and retail footprint. The company will use the £2.7 million financing from HSBC UK to develop a new range of footwear launching this summer and to increase product supply for fast-growing cycling and technical outdoor demand. Alpkit also intends to expand its physical presence across the UK and enhance its digital trading globally. Management said the deal will support investment in innovation to create lower-impact, repairable and recyclable technical outdoor gear. Founded in 2004 and based in the UK, Alpkit employs 85 people and generates annual sales of £7.1 million. Alpkit is a designer and retailer of outdoor clothing and equipment targeting outdoor adventure enthusiasts. Founded in 2004 and based in Newthorpe, Nottingham, all products are designed at the company’s HQ with a focus on technical performance. The company offers over 500 lines across clothing, equipment and bikes. Over the last two years Alpkit has opened its first two stores in the Lake District and Peak District, where staff provide advice, product repairs and run adventure courses. Staff numbers have grown from 12 to 62 in the last four years, and the company aims to create a further 40 jobs over the next three years. Alpkit raised £1m in funding and plans to use the funds to improve its website, add international language sites to grow global online sales, and open new UK stores. Alpkit makes its own-brand outdoor clothing, equipment and custom Sondor titanium bikes and has operated online for over a decade. Founded in 2004 and based in Newthorpe near Nottingham, it opened its first two physical stores in 2017 (Hathersage and Ambleside). The business employs 63 staff and serves a customer base of over 200,000 in the UK and overseas. Under CEO David Hanney (joined 2014) the company has grown six-fold in the past three years and created over 50 jobs. It donates 1% of turnover to the Alpkit Foundation to help remove barriers to outdoor participation. Alpkit says it will use funding to develop its website, enhance its product range, drive international growth and open further UK stores.

Total raised

$5M

Funding rounds

4

Latest round

Equity

Latest activity

Apr 2022