Alpkit secures loan to open more stores

An outdoor goods company which has opened two stores after trading online for more than a decade has secured a £200,000 loan to open new stores.

Thursday, 14th December 2017, 3:12 pm
Updated Thursday, 14th December 2017, 3:15 pm
From left: David Hanney and Nick Smith of Alpkit, Chris Carter of Mercia Fund Managers, Col and Kenny Stocker of Alpkit.

Alpkit produces its own-brand high-performance outdoor clothing, equipment and sports kit, as well as custom-made titanium bikes under its Sondor brand. The company, which was established in 2004 and is based in Newthorpe, near Nottingham, opened a store in Hathersage, Derbyshire, in April, and a second in Ambleside, Cumbria in June.

It has grown rapidly under the leadership of chief executive David Hanney, who joined in 2014 and has held senior roles at Go Outdoors and Planet-X bikes.

David Hanney said: “We are delighted with the funding package from Mercia, which is truly aligned to our strategic goals, and impressed by the speed of delivery. Alpkit has grown six-fold in the past three years and we’ve created over 50 jobs. This funding will help us develop our website, enhance our product range, drive international growth and open more stores in the UK.”

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Alpkit now employs 63 and has more than 200,000 customers in the UK and overseas. It donates one per cent of turnover to its own charity, the Alpkit Foundation, to help people overcome any obstacles they have to participating in outdoor activities.

Chris Carter, investment manager with Mercia fund managers, said: “Alpkit has built a highly experienced team who are outdoor enthusiasts and committed to providing high quality goods affordable to customers at all levels. Despite the highly competitive nature of the outdoors market, the business has achieved impressive growth. This funding will support it as it embarks on its new adventure to move from ‘clicks’ to ‘bricks’ and open stores in key locations around the country.”