London-based Aurelius Finance Company announced that it has provided FitFlop, a footwear company also based in London, with a new $30 million five-year revolving credit facility to support the company’s long-term growth objectives. Aurelius Finance Company, a member of the Aurelius Group, is an independent secured lender providing asset-based financing solutions to U.K. and European companies.
FitFlop was established in 2007 by Marcia Kilgore as a premium wellness brand where she applied her deep understanding of biomechanics, ergonomic design and contemporary styling to create a unique footwear offering. Core categories include sandals, sneakers, shoes and boots (as well as select apparel items), of which over 65 million pairs have been sold to date, according to FitFlop. The company operates throughout the value chain, from domestic and international distribution to wholesale, and also serves its customers through its online store. FitFlop sells its products to 5,700 retail stores in 60 countries, as well as to its Asian retail network.
According to Aurelius, FitFlop’s strong financial performance justified a financing solution with a reduced cost of capital. Proceeds from this flexible financing solution will be used to increase investments in branding, marketing and advertising to accelerate the company’s growth strategy.
“This funding with Aurelius represents a tremendous show of confidence in the growing strength and resilience of our progressive brand. It’s now time to put the money to work and accelerate our ambitious growth plans,” commented Gianni Georgiades, CEO of FitFlop.
