Dress for success: London fashion business lands £1.5m finance package to fund growth
Family-run ladies fashion business, Jasko India, recently finalised a £1.5m finance package to fund significant sales growth to UK high street retailers.
The business, based in Park Royal, London's largest industrial park, has been designing, developing and supplying ladies clothing since the 1970s. While fashion trends have come and gone in the 43 years since they launched, Jasko India has moved with the times and continues to adapt to rapidly changing markets.
Managing Director, Kimy Gujral, explains "we have had good times and survived bad times. We work in a changing market place - from bricks and mortar to online. We're continually looking to move the business forward."
Now supplying to some of the UK's largest retailers such as TK Maxx and ASOS, Jasko India's clothing ranges are increasingly in demand, and with a growing order book they are well positioned to develop their clothing lines and increase production.
"We've just taken on Amazon," says Kimy. "and working very closely with ASOS and looking to expand with them. We're looking to grow the design and development team to be able to create more products."
With the support of business finance comparison platform BIZL.co, the business secured a finance package, including invoice and trade finance, from a consortium of alternative finance providers and challenger banks.
Speaking on raising finance, Kimy says, "it was clear that we had to look beyond the banks to meet our needs, so we used BIZL.co to compare our options. They put together a bespoke package for us from a range of lenders and held our hand throughout the process, which is just what we needed. The finance package helps us lower our production costs by paying suppliers quicker and negotiating discounts, and helps us increase our shipments to our customers. We hope to grow our sales by 50% over the next year."