Footwear and sportswear retail chain Footasylum has secured a £35 million (€41.8m) revolving credit facility from HSBC UK. The new funding will power the retailer’s store expansion program. It will also be used to accelerate omnichannel technology investments and explore potential acquisition opportunities.
The funding package also includes a sustainability improvement loan that monitors Footasylum’s ESG performance annually and links the cost of borrowing to its sustainability performance.
Footasylum was acquired by Aurelius Group in August 2022. Since then, the retailer has been implementing a store opening and upsizing program, including the launch of a 1,860sqm store on London’s Oxford Street.
Footasylum has more than 61 stores nationwide. In the year ending Jan. 27, 2024, the retailer’s revenues increased to £319.5 million (€381.4m) from £298 million (€355.7m) in the previous financial year.
