Lifestyle retailer and brand White Stuff has secured a new working capital facility and made a raft of high-level appointments to prepare it for UK and international growth.
Chief executive Sally Bailey said the working capital facility, made with Lloyds TSB bank, would provide a stronger structure for the retailer’s growth strategy.
White Stuff, which sells mens- and womenswear through 64 stores plans to open 10 stores a year and significantly grow its internet and home shopping businesses.
“Next year we are on track to pass the £100m turnover mark and within five years that could be £500m so we needed to make sure we are set up for that,” said Bailey. “We will use the funding over the next several years.”
To help with the growth White Stuff has made several high level appointments including Helen Marshall, who will join White Stuff as retail director in June. Marshall was previously retail trading and international director at womenswear chain Warehouse.
Andrew Webb has joined the business as chief operating officer to review the infrastructure of the business. He was chief executive of womenswear chain East until 2009.
Alison Lancaster will move from Harrods Direct, where she was marketing director, to become home shopping director.