Womenswear, menswear and kidswear brand Weird Fish has received £4m of investment to help meet its target of increasing retail and online sales by 60% over the next three years.
The funding from Santander Corporate & Commercial will be used to invest in the heltenham-based brand’s multichannel offer and to further develop its export business.
Weird Fish was established in 1993 and now has 11 UK standalone stores and more than 400 stockists, including Debenhams, Cotswold Outdoor and Blacks Leisure. It also has more than 80 stockists in Europe.
It is known for its Macaroni-branded products, which were developed in 1993 at its Ataturk knitting factory in Turkey and named after the variety of pasta it resembled. The company sold its millionth Macaroni product in 2013.
Weird Fish will also receive a trade finance facility that will be used to assist with the import of manufactured goods.
“Weird Fish has developed a very strong brand and unique products in the UK,” said financial director Gerald Dawson. “After a very successful year, with significant profit growth, the business is at a point where it wants to invest in its stores and website and to further develop its rapidly growing export channel, and the support and funding from Santander will be key to us in achieving our goals.”
The company reported sales of £13.8m and an operating loss of £176,358 for the full year to December 31, 2014, according to the latest results at Companies House.