Wimborne: Slumbersac to realise growth with HSBC funding
Slumbersac, a firm based at Wimborne in Dorset which sells sleeping bags for babies and toddlers, has secured a £200,000 funding package from HSBC to help it realise its growth plans for the next three years.
The package will enable it to move to a new 8,500 sq ft warehouse, to invest in a new e-commerce system, to hire five new members of staff and to scale up its presence in a number of new international markets including Canada, Japan and India.
Karina Grassy, managing director of Slumbersac, said: “The new warehouse will help us scale-up the amount of stock we can store and, in turn, create new jobs for the local economy. As a result, we are on track with plans to increase turnover from £3.5m last year to a minimum of £11m in the next three years.”
James Elwes, HSBC area director in Hampshire and Dorset, said: “We’ve seen Slumbersac go from strength to strength since Karina took over the business in 2012. By improving its e-commerce facility, the firm will find it easier than ever to meet the demand for its innovative children’s products both domestically and abroad.”
Slumbersac has been manufacturing and selling its infant sleeping bags, mainly online, since it was founded in 2001. Over half its sales are currently to Germany. The business has been trading with the US for the past 18 months and Australia for the past eight months.
