Northern Ireland Structured Asset-Based Lending (ABL) specialist, Upstream ABL, has partnered with ambitious outdoor lifestyle brand Bleubird to support a major uplift in international sales.
Founded in a small bedroom in the French Alps in 2016, Bleubird has grown into a leading global outdoor lifestyle brand, with more than 250 retailers globally across Ireland, the UK, France, Germany, Finland and Austria.
Thanks to a funding package provided by Upstream ABL, the fast-growing Ballyclare-based firm plans to drive European sales to 40% over the next two years. Exports outside of the UK and Ireland already account for around 33%.
Bleubird which runs a small retail premises in Ballyhackamore, East Belfast and a larger store in Annecy, France, close to where the brand was founded, recently announced a suite of new roles as part of its wholesale expansion.
Founder of the eco-conscious company Matt Creighton said the business is now on a fresh drive for new growth.
“We’re currently enjoying a very exciting period of growth, where the EU already accounts for over a third of our wholesale business and we plan to increase this further,” he said.
“What is reassuring is that not only are we seeing demand across several European countries, we are also seeing growth across a variety of retail channels where our products and brand appeal to both independent and national stores across fashion, lifestyle, outdoor, sport and surf.
“Our partnership with Upstream ABL has enabled us to unlock new growth opportunities for expansion and we’re excited by the prospects this brings.”
Matt said the structured asset-based lending facility had provided Bleubird with flexible, revolving capital tailored to the business’s liquidity needs and would help to underpin its growth ambitions in the months and years ahead.
Upstream ABL Acquisition Manager, John Metcalfe, added:
“Bleubird is already one of Northern Ireland’s major retail success stories which continues to expand thanks to a cut-through, compelling brand and a dedicated, motivated team.
“We’re delighted to provide the financial support it needs to take the company to the next level to fuel the brand’s future evolution with a bespoke package that accurately meets its growth-focused needs.”
The investment is the latest in a series of financing arrangements for Upstream ABL since it announced £150 million in funding from London’s Pollen Street Capital early last year.
Based in Belfast, Upstream ABL is the island of Ireland’s only independent provider of Structured ABL finance solutions, providing ambitious, asset-rich businesses across the UK and Ireland with access to the dynamic funding they need to fund new projects, acquisitions, and financial restructuring to drive growth and scale.
Established by CEO Judith Totten MBE, Upstream ABL has a reputation for flexibility and agility in providing tailored funding solutions. It guarantees all businesses access to an experienced, local decision-maker who understands the importance of swift and clear feedback, coupled with guidance and direction in structuring the most appropriate funding facility for now and into the future.
