Cornish fashion brand Seasalt has secured a £120k investment from the Business Catalyst Fund to support its continued growth.
The Falmouth-based company 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 across the south west and Guernsey, and over 350 wholesale stockists around the UK, and internationally.
The investment from the Business Catalyst Fund is part of a project totalling £300k to introduce a new product lifecycle management system that will support the company’s continued growth and create 23 new jobs.
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. Seasalt’s application was assisted by the corporate finance team at Francis Clark in Truro.
Neil Chadwick, joint managing director at Seasalt, 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.”
David Bullen from Francis Clark, who handled Seasalt’s Business Catalyst Fund application, said: “Seasalt is a fantastic Cornish success story that is creating quality jobs and promoting the Cornwall brand far and wide. The Business Catalyst Fund is designed to support businesses like this that want to step up a gear and move to the next level.”