Manchester online children’s toys and games retailer BargainMax.co.uk has secured seven-figure funding from HSBC UK to support its ambitious growth plans.
BargainMax.co.uk aims to use the funding to increase its product line and inventory by over 60% over the next 12 months. This expansion of the business follows consistent successful performance since the start of the business and high levels of growth, especially over the past year.
Funding from HSBC UK will also be used to increase brand awareness through targeted social media campaigns and support the continued development of the website.
The expansion means the company plans to increase staff this year both at its head office and at its Manchester warehouse.
Gigi Mechlowitz, Managing Director of BargainMax.co.uk, said: “As an online-only retailer, we were well prepared when the pandemic started and were able to continue our two to four day delivery time while experiencing a significant revival of demand. We will continue to provide this quality of service through investments in new products and e-commerce solutions.
“Online retail has suffered greatly over the past 12 months, but we are confident that our ambitious growth strategy will put us at the forefront of the toy industry. “
Zubayr Atcha, Director of Corporate Relations at HSBC, said: “BargainMax.co.uk has grown rapidly both nationally and in Europe and over the past year. This funding allows the company to build on its impressive track record and will stand it in good stead in the online retail world.
BargainMax.co.uk currently has over 2,500 products for children ages 0-12, including popular brands like Barbie, Lego, LOL Surprise and Paw Patrol.
The funding has been provided by HSBC UK’s National Fund for SMEs, as part of its commitment to help UK businesses innovate and grow as the country seeks to recover from the Covid-19 health crisis. The new £ 15 billion SME fund has been announced by HSBC UK.