AURELIUS Finance Company provides new long-term USD 30m revolving credit line to Fitflop
London, March 30, 2023 – AURELIUS Finance Company announces a new 5-year, USD 30 million revolving credit facility to Fitflop to support the company’s long term growth ambitions. AURELIUS Finance Company, member of AURELIUS Group, is the independent secured lender providing asset-based financing solutions to UK and European companies.
Founded by Marcia Kilgore in 2007, Fitflop is a mass premium wellness brand, who have leveraged their deep understanding of biomechanics, ergonomic design and contemporary styling to create a unique footwear offering. With options that span the core categories; sandals, sneakers, shoes, boots, plus select apparel items, they have sold over 65 million pairs to date. The company operates across the value chain from domestic and international distribution to the wholesale market, as well as servicing customers via its online store. Fitflop sells its products to 5,700 retail outlets across 60 countries, as well as its Asian retail network.
“Fitflop’s successful turnaround is a result of the management team’s strong leadership and resounding resilience in challenging times. AURELIUS Finance Company was pleased to have played a significant role in supporting the company throughout this period by providing flexible financing and establishing a bespoke facility tailored to its capital requirements,” commented Karun Dhir, Managing Director of AURELIUS Finance Company.
Fitflop’s strong financial performance justified a funding solution with a lower cost of capital, which through its secured funding line with Wells Fargo, AURELIUS Finance Company was able to provide. The proceeds of this flexible funding solution will support an increased investment in branding, marketing and advertising, accelerating the company’s growth strategy.
“AURELIUS Finance Company is relationship-driven. We focus on taking the time to understand our client’s needs and supporting them to achieve their objectives. This new facility has been designed to provide the company with the means to target further growth as the Fitflop management team seeks to capitalise on the opportunity their strategic transformation has opened,” added Karun Dhir.
“This funding with AURELIUS represents a tremendous show of confidence in the growing strength and resilience of our progressive brand. It’s now time to put the money to work and accelerate our ambitious growth plans,” commented Gianni Georgiades, Chief Executive Officer of FitFlop.