Sheffield lingerie manufacturer boosts overseas operations with £250k loan

A Sheffield-based designer and manufacturer of lingerie is now able to further expand overseas and invest in new product ranges after securing funds from Finance Yorkshire.

Panache Lingerie, which exports to more than 50 countries worldwide, received a £250k Business Loan from Finance Yorkshire.

Finance Yorkshire’s overall investments have created 9,656 jobs across Yorkshire and the Humber, increased turnover by £280m and generated private sector leverage of £173m.

The £250k investment in Panache Lingerie provides a significant boost for the family business, which over almost 30 years, has become one of the world’s leading designers and manufacturers of D-plus lingerie and swimwear.

Established in 1982 by Anthony Power, Panache Lingerie opened its first overseas office in 1989. The business currently employs 170 people worldwide, with offices in Sheffield, New York and China, and distribution centres in Sheffield and New Jersey. As well as their own brands, Panache manufactures own-label lingerie for some of the biggest names on the high street.

Bill Montague, finance director, said: “Panache is a wholly owned family business that is passionate not only about the design, quality and fit of our products, but importantly the craftsmanship associated with producing D-plus lingerie.

“Our reputation is now established worldwide, with exports currently making up around 60% of our overall business. The funding from Finance Yorkshire will give us vital working capital to further expand our overseas business, particularly in North America, in addition to developing innovative new product ranges.”

Alex McWhirter, Finance Yorkshire chief executive, commented: “Our Business Loan investments enable SMEs across the region to achieve business success through job creation and growth. Our latest investment in Panache Lingerie demonstrates the valuable role Finance Yorkshire plays in supporting innovation and business growth across a range of sectors including manufacturing.”

Jonathan Craig, Finance Yorkshire investment manager, added: “Panache Lingerie is a well-established family business which truly flies the flag for our region overseas both in terms of innovation and first-class manufacturing. We are proud to be able to support them as they continue to expand and develop their product range.”