Outdoor enthusiasts are excited as Nottinghamshire-based outdoor clothing and equipment company, Alpkit, has secured funding from the Midlands Engine Investment Fund (MEIF).
The £1.5 million investment will help create 16 new roles, fund the seasonal stock purchases, and develop new product lines in footwear and e-bikes. This means that Alpkit will now be able to produce and offer a wider range of gear specifically designed for camping and other outdoor activities.
Alpkit designs, manufactures, and sells a range of specialist outdoor apparel, equipment, and bicycles suitable for challenging environments and extreme activities at a significantly lower price point than high-end competitors.
The company is committed to the highest standards of social and environmental impact and is a certified B Corp. In addition, Alpkit’s registered charity, the Alpkit Foundation, supports sustainability-focused community projects.
The funding will help Alpkit to expand its employee base and seize the opportunities available to them. With this funding, Alpkit will be able to increase its physical stores in the UK and its international online presence.
This will enable them to take advantage of the booming outdoor market across camping, hiking, climbing, trail running, outdoor swimming, and cycling in the UK, which is estimated to be worth over £7.5 billion.
Alpkit’s community focus and sustainability credentials reflect its culture and resonate with its customer base. This is a positive step for the company, allowing them to offer a wider range of gear for campers and outdoor enthusiasts. It’s great news for outdoor enthusiasts who are looking for high-quality gear at an affordable price point.
With the new funding, Alpkit will be able to offer more options for camping, hiking, and other outdoor activities, while also maintaining its commitment to social and environmental impact.
“With challenging exchange markets and supply chain issues dominating trading conditions for many businesses in recent months, we are delighted to receive this MEIF funding, which gives us the ability to expand our employee base and seize the opportunities available to us,” David Hanney, Alpkit CEO, said.
The funding from MEIF is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2022 and the European Investment Bank.
The FSE Group manages a section of MEIF that provides investments between £100,000 and £1.5m to support growing SMEs across the region.
In summary, Alpkit, an outdoor clothing, and equipment company, has secured funding from the MEIF to create new jobs, purchase seasonal stock and develop new product lines in footwear and e-bikes.
This will help the company to expand its product offerings for campers and outdoor enthusiasts while maintaining its commitment to social and environmental impact.