Baby product manufacturer eyes US growth with seven-figure HSBC UK funding

A Stratford-upon-Avon business and leading international baby product manufacturer is set to expand its global footprint thanks to support from HSBC UK.

Green Sheep Group has secured a £1m funding package from HSBC UK as it gears up to expand its renowned nursery and home baby brand Snuz into the US.

The funding will go towards the business’ launch costs and plans to house £250k worth of company stock within the US. This eliminates the need to regularly import products, including bedside cribs, bedding and accessories.

Green Sheep Group has seen turnover grow from £6.6m to £16m over the last four years through a strategic focus on e-commerce and direct-to-consumer communications, leveraging websites and social media platforms to propel growth.

Following this deal, the retailer is now forecasting its US expansion to deliver an additional £4m revenue over the next three years.

Paul Maurice, product director at Green Sheep Group, commented: “Although there is strong competition, the US market for bedside cribs is still relatively new – similar to the UK market four years ago. Therefore, we see this as an ideal time to enter the market and become one of the industry pioneers and leaders.”

Green Sheep Group is aiming to target not only direct-to-consumer channels through its website but also major trade retailers and upscale boutiques as part of its ambitious international expansion plans.

Mark Lupton, Area Director at HSBC UK, added: “Green Sheep Group’s brands have already made their mark across Europe, Australia and the UAE. Now, the company has set its sights on expanding its international presence and breaking into the highly lucrative US market.

“This is a very exciting time for the business, and we are delighted to be able to help it achieve its global ambitions.”

Founded in 2006, Green Sheep Group specialises in the design and manufacture of nursery baby products. In 2017, the business secured a “coveted” spot in the Sunday Times Fast Track Top 10 Ones to Watch, an exclusive and esteemed list featuring the UK’s most promising and rapidly growing businesses.

Recently, Green Sheep Group received the “prestigious” King’s Award for Enterprise in International Trade, a “significant honour”, and a mark of distinction for UK businesses.

By Matthew Neville – Senior Correspondent, Bdaily

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