Footasylum is set to open a new store in Merthyr Tydfil as part of its UK expansion plans.
The sportswear and streetwear omnichannel retailer is accelerating its plans for this year after extending its revolving credit facility with HSBC UK from £35 million to £60 million.
The enlarged facility will support the next phase of Footasylum’s store roll-out programme, with new locations planned in Leeds and Glasgow as well as Merthyr Tydfil.
As part of the new store openings and upsizes, Footasylum expects to create more than 80 new jobs. The first of these new Footasylum stores are set to open in March, with additional openings following in April and May.
In addition, Footasylum will undertake significant development of its existing locations in Manchester’s Arndale and Trafford centres, creating two substantially larger stores in prominent, high-footfall locations. Footasylum’s Arndale store will increase in size by approximately 80% to 17,758 sq ft, while its Trafford store will grow by approximately 100% to 17,178 sq ft.
HSBC UK funding will also be used to upgrade Footasylum’s 280,000 sq ft of warehousing space in Middleton, Greater Manchester. This development will enhance operational efficiency and support rising in-store and online customer demand, it said.
Nick Scott, Chief Financial Officer at Footasylum, said:
“This funding from HSBC UK marks a significant milestone in our growth journey as we continue to expand our footprint across the UK. This expansion programme will strengthen our ability to deliver best-in-class customer service, while scaling the availability of our highly popular ranges across multiple channels, including in-store and online.”
Zubayr Atcha, Senior Global Relationship Director at HSBC UK, added:
“It’s fantastic to support Footasylum with another ambitious phase of its growth strategy, as the business continues to deliver a wide range of products to its customers. Footasylum is a leading force within the UK retail sector, and remains fully committed to investing in the high street despite a challenging consumer environment. We look forward to seeing how this funding package supports the future success of the business.”
This latest announcement follows a year of growth for Footasylum in 2025, which saw the opening of nine new UK stores, creating 125 jobs in various roles. The retailer also announced plans for 40 new stores across the Gulf region through a franchise partnership with Apparel Group.
Founded in 2005, Footasylum now operates 65 stores, offering a curated range of sportswear and streetwear apparel and accessories from well-known third-party brands including Nike, adidas, TheNorthFace and New Balance. These are complemented by Footasylum’s exclusive brands, which include Zavetti Canada, Alessandro Zavetti and Monterrain.
The HSBC UK RCF funding package includes a Sustainability Improvement Loan (SIL), which links the cost of borrowing to Footasylum’s sustainability performance, monitored using an EcoVadis ESG (Environmental, Social, and Governance) rating. The EcoVadis rating will be tested on an annual basis to track Footasylum’s ESG performance. If the company improves its sustainability rating in line with pre-agreed targets, it will benefit from reduced interest rates on the loan.
