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Snag gets fit for expansion after £2m bank deal

Snag Group has seen turnover rocket

Clothing e-retailer Snag Group, which sells recyclable hosiery and clothing for people of all sizes, has raised more than £2 million to expand in the UK and overseas. 

The Livingston-based company was founded in 2017 by entrepreneur Brie Read who wanted to supply items that provided a better fit.

Ms Read said: “I started Snag Group after my own very embarrassing moment wearing tights while walking along a busy Edinburgh city centre street.”

Four years on, she has grown annual turnover from £3.5m in its first year to £45m and is targeting £80m by mid-2023.

Santander UK has provided a funding package to support Snag’s plans.

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Key to the company’s expansion is its upcoming move to a new warehouse – also in Livingston – double the size of its current premises, which will significantly increase its capacity to store, process and package stock.

The increase in capacity is crucial given the business’ recent product diversification and expansion into leggings, T-shirts, skirts and swimwear.

Its products are packaged and distributed across the world from its current warehouse in Livingston, and throughout Europe through its warehouse in the Netherlands.

Snag sells its products exclusively through its tailored websites in ten geographic markets and has customers in 90 countries. It is now focusing on growing sales in the US by ramping up its social media marketing activity in the country.

Santander UK is providing it with international expertise and products in addition to the funding package to support its overseas expansion.

The funding package has enabled Snag to increase its staff from 60 to 90, and it anticipates hiring an additional 60 staff over the next year as the company grows.

A champion of remote working since before the pandemic, all the business’ non-warehouse staff work from home.



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