Manière De Voir, the online fashion retailer founded by former Manchester City and England Under 20s footballer Reece Wabara, has secured a significant finance facility from HSBC UK. The financial assistance program will enable the privately-owned company to purchase further stock, matching the increased customer demand that has arisen since the beginning of the COVID-19 pandemic.
Chief Executive, Reece Wabara, established the company in 2013, and sales grew 42% each year to culminate in a turnover of £10.3 million in 2019. However, as a result of the pandemic increasing sales, particularly in loungewear and womenswear, revenue for 2020 is up by 140%. Manière De Voir has seen increased growth within the UK markets but also internationally. The online retailer exports to 98 countries with the United States as its second-largest market.
The finance facility will also be used to execute Manière De Voir’s ten-year growth strategy. The strategy involves moving from the businesses 12,000 sq ft warehouse in Manchester to a new 50,000 sq ft premise in Birchwood, Warrington.
Reece Wabara stated that “The facility has allowed us to plan further in advance and, therefore, the majority of our stock intake is via sea freight. This strategy has resulted in a significant improvement in margins, allowing us to reinvest further into elevating the product, increasing stock levels and improving the overall customer experience.”