// Bargain Max secures 7-figure funding package from HSBC to fund its expansion plans
// The online toy retailer will expand its product range by 60%, recruit more staff, and invest in brand awareness
Bargain Max is set to push on with an ambitious expansion strategy after it secured a seven-figure funding package from HSBC UK.
The online toy retailer said it would use the funds to increase its stock and product range by over 60 per cent in the next 12 months.
The expansion means Bargain Max will recruit more staff this year at both its Manchester head office and warehouse.
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The retailer also plans to invest in brand awareness growth through social media campaigns as well as further developing its website.
“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,” Bargain Max managing director Gigi Mechlowitz said.
“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 2500 toys for children aged 0-12, including products from leading brands such as Barbie, Lego, LOL Surprise and Paw Patrol.
HSBC corporate relationship director Zubayr Atcha 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.”