An online shoe retailer in Warwick has doubled its capacity after moving to a new property with support from Lloyds Bank.
A Fine Pair of Shoes, which specialises in high-quality British footwear and leather goods, has invested in a new 2,000sq ft site at the T1300 Tachbrook Park industrial estate in Warwick after receiving a six-figure loan from Lloyds Bank.
It will now be able to store around 15,000 different pairs of shoes for distribution, a 250 per cent uplift in capacity, from premium British brands including Tricker’s, Barker and Spanish Brand Berwick. The move will enable the family-owned firm to further expand its range, including new designs from Europe, alongside an extensive range of award winning natural polishes & shoe accessories.
The funding will also support the installation of a mezzanine floor at the premises and the construction of a new office space as the business looks to make the most of its new larger space.
A Fine Pair of Shoes, which was co-founded by husband and wife duo Julian and Sarah Nelson, is expecting to increase its annual turnover by 20 -30 per cent as a result of the expansion. The firm also plans to hire new staff in its warehouse team to increase its dispatch capacity and meet the growing number of orders being processed, once the move has been completed.
Julian Nelson, Co-owner & Director at A Fine Pair of Shoes, said: “Demand has been increasing for some time now and we were starting to find that our existing site wasn’t quite big enough to keep up. This property is perfect for our needs and gives us the capacity to continue our growth.
“Sarah and I have built the business from scratch and this is the first time we’ve sought financial support from Lloyds Bank, but they have been incredibly helpful and reassuring throughout, giving us sound guidance and making sure everything went smoothly. We’re looking forward to working with them as we embark on the next part of our journey.”
Noshad Khowaja, relationship manager at Lloyds Bank, said: “A Fine Pair of Shoes has enjoyed consistent growth for several years and that upward trend has increased exponentially as more customers have turned to online shopping during the pandemic.
“We’re very pleased that we’ve been able to facilitate this move to new premises and we are sure the additional capacity will provide huge benefit to the business. We will continue to support them and other innovative businesses across the West Midlands as part of our ongoing commitment to helping Britain prosper.”
Coventry-based commercial property specialist Bromwich Hardy helped conclude the acquisition.
Tom Bromwich, founding partner at Bromwich Hardy, said: “It is always a pleasure to play a part in helping a successful business continue to grow. The new site is an absolutely perfect fit for the business, and I look forward to watching them go from strength to strength in their new home.”