Cornwall fashion brand Seasalt celebrates £120k investment
More than 20 jobs will be created by Cornwall-based fashion brand Seasalt after it secured a £120,000 investment to support its growth.
With headquarters in Falmouth, Seasalt has grown from having one shop in Penzance in the early 1980s into a multi-million pound turnover business with 200 staff and 14 stores in the South West and Guernsey, and more than 350 wholesale stockists nationally and internationally.
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Cornwall fashion brand Seasalt celebrates £120k investment
In the last year it has started supplying John Lewis department stores, has increased its online offering and introduced its first mail order catalogue.
The investment from the Business Catalyst Fund is part of a project totalling £300,000.
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Neil Chadwick, joint managing director, said: "Seasalt is an innovative business designing new products all the time and exploring new sales channels at home and abroad, so efficient product management is vital.
"This investment will help us manage our growth and ensure we continue to meet customers' expectations."
The Business Catalyst Fund is a £5 million fund to help eligible businesses in Cornwall and the Isles of Scilly improve productivity and create jobs.
It has come from the Government's Regional Growth Fund following a successful bid from the Cornwall and Isles of Scilly Local Enterprise Partnership (LEP).
The fund is managed by Cornwall Development Company on behalf of the LEP and Cornwall Council.
Chris Pomfret, chairman of the Cornwall and Isles of Scilly LEP, said: "Businesses told us very early on that a lack of finance was holding back growth which is why we bid into the Regional Growth Fund, including the £5m for Business Catalyst Fund, that could be managed and invested locally to stimulate growth and job creation. "Seasalt employs highly skilled staff from graphic designers and fine artists, to logistics experts and textile designers.
"This investment will help fuel the company's growth ambitions and ultimately create 23 more quality jobs in Cornwall and the Isles of Scilly."
Comments
by JJLee
Tuesday, January 08 2013, 2:51PM
“If they are so successful why do they require large investments when it should be given to start-ups? The Business Catalyst Fund needs to justify such actions as they simply do not stack up.
http://tinyurl.com/auhvgrg”