UK: Carmel Clothing receives cash boost for expansion
UK womenswear supplier Carmel Clothing has received a cash injection to help boost production capacity and fund future growth plans.
London-based Carmel, supplier to retailers such as Arcadia Group and Next, has received a GBP16m (US$26.2m) integrated debt facility from Investec Growth & Acquisition Finance.
The company said that "rapid growth" as a result of its high-quality offering has led to "ambitious plans" for its future.
"With Investec's support and commitment, the potential for Carmel's growth and development is truly exciting," said the company's MD Simon Blayne.
"We recognise the importance of selecting the right funding partner and, through our relationship with Investec, we can now focus on serving our customers with outstanding design-led garments."
Carmel Clothing has offices in China and Vietnam employing around 100 staff. It generates revenues of around GBP30m.
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