Joules, the British apparel retailer, has secured funding from Barclays to aid expansion across Europe and North America.
The British based international brand has experienced significant growth in recent years having developed its UK retail presence to 99 stores nationwide. Having further invested in ecommerce, which now makes up close to 25% of total sales, and wholesale operations, which make up a further 28%, Joules is now looking to capitalise on further opportunities available in key international markets.
Tom Joule, CEO and founder of Joules said: “We welcome Barclays’s continued support to help us achieve our strategic growth aspirations in overseas markets. This extended facility allows us to widen the appeal of the fun, quirky, British-born Joules brand internationally. We will continue to invest in our multi-channel offering as well as growing our home market and our loyal customer base.”
Commenting on the funding, Jim Quantrill, Relationship Director at Barclays Corporate said: “Joules is a British lifestyle brand which is recognised for its high quality product range. The company has a strong management team and this extension, which takes our facility for the business up to £26m, will enable the business to capitalise on opportunities which will open up the Joules brand to new markets.”