Sheffield lingerie manufacturer Panache Lingerie is set to expand overseas and invest in new products following a £250,000 business loan from Finance Yorkshire.
The investment is a shot in the arm for the Sheffield family business, which over almost 30 years has become one of the world’s leading designers and manufacturers of D-plus lingerie and swimwear.
Finance director Bill Montague 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 per cent 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.”
The firm was established in 1982 by Anthony Power and opened its first overseas office in 1989. It now 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.
Finance Yorkshire investment manager Jonathan Craig said: “Panache Lingerie is a well-established family business which truly flies the flag for our region overseas 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.”