French Connection, renowned British apparel retailer, has announced that it has secured US $ 6.5 million as additional funding for its business in the US.
The funding, secured through the ‘Main Street Lending Programme’, will be for a period of 5 years.
The fashion retailer believes that the loan will help it enhance its US operations that are majorly wholesale.
Back in July 2020 too, the retailer had received funding of £15 million from Hilco Capital for a period of 2 years to fight the pandemic woes.
Also Read: French Connection receives 15 million pounds in funding to tide over pandemic woes
Despite low footfall in the second half of the year due to tightened restrictions in the UK followed by sudden lockdown in November, the business, the retailer says, has been encouraging ever since stores reopened in England.
And now with this funding, the retailer hopes to enhance its US business as well.
Going forward, French Connection seems to be confident about 2021! Despite all the uncertainty about pandemic and Brexit, it believes that it is well-positioned to capitalise on opportunities that arise.
Known for its apparels and fashion accessories, the retailer owns brands such as Great Plains, Toast and YMC and has its headquarters in London.
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