Consumer goods giant expands operations with HSBC funding
A family-owned consumer goods company based in Stoke-on-Trent and Stone, near Stafford, has expanded its workforce and operations with funding from HSBC UK.
RKW, the trading division of Sutton Venture Group, established in 1989, employs more than 500 staff through its offices in the UK, Honk Kong, India and China. The head office is in Stoke.
The company designs, manufactures and distributes small domestic appliances and housewares for leading brands which include Black and Decker, Lavazza, Morphy Richards, Tower, Smeg, Swan, Russell Hobbs and Breville.
From its distribution centre in Stone, products are sold to leading UK retailers with international customers being supplied directly from its China offices.
An eight-figure funding package from HSBC UK will be used to help facilitate RKW’s international growth strategy and further grow market share throughout the UK, having previously increased its direct delivery capabilities for retailers during the pandemic by offering a wider range of products and increased stock.
The deal with HSBC UK will bolster staff with a further 80 employees and transform the operations of its one million sq ft warehouse into a 24/7 working site.
Rob Sutton, chairman at Sutton Venture Group, said: “I would like to thank HSBC UK for the continued support they have provided. This funding has allowed us to evolve to changing customer needs during the pandemic. In addition to creating 80 new jobs and developing our new 24/7 warehouse facility in Stone, we’ve seen our roadmap of innovation and new product development accelerate as we’ve adapted new business solutions.
"Further investments and entering new, exciting product sectors are what’s next on the horizon. We have a talented team at the heart of the business and I would like to thank them for the exceptional job that has been done navigating the challenges of the Covid crisis while positioning the business for long term growth and value creation.”
Josh Garrigan, relationship director at HSBC UK, said: “Despite the volatility of the business landscape over the last 20 months, Sutton Venture Group has seen huge growth. Having rapidly adapted to major shifts in the retail sphere from both a consumer and supplier perspective, we’re delighted to have supported the expansion of operations and workforce at the business.”
Sutton Venture Group is privately-owned and has a portfolio of trading companies specialising in online retailing, property, warehouse, sales and logistics operations, with offices in Stoke-on-Trent, Hong Kong, India and mainland China. The Group’s trading division RKW is Europe’s leading electrical and housewares supplier and distributes products through some of the UK's largest retailers including Next, Amazon, Tesco, Currys and Argos.
