Moda in Pelle switches banking to Lloyds

Moda in Pelle chief executive David Inglis
Moda in Pelle chief executive David Inglis
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Footwear retailer Moda in Pelle has moved its banking facilities to Lloyds.

The designer, which was founded in Leeds 40 years ago and runs 58 outlets across the UK, will be served by the bank’s commercial mid-markets team.

It comes three months after Moda in Pelle secured a £3.5m investment from the Business Growth Fund. The firm is plans store openings, refurbishments and e-commerce growth with the cash.

Moda in Pelle, which is expected to hit £20m turnover this year, is looking to build on recent successes, including the acquisition of 26 concessions and 80 per cent online sales growth.

Chief executive David Inglis, who joined in October 2014 as part of the Business Growth Fund deal, said the move to Lloyds Bank is proof of the company’s confidence and aspirations for the future.

He said: “The bank’s strong international trade capabilities and relationship-based service puts us in a strong position from which to invest in key areas of the business.

“We are now investing in our IT infrastructure to bolster our growing e-commerce channels, and continued technological development.”

Founded in 1975 by Stephen Buck, Moda in Pelle designs and sources footwear from manufacturers in China, Italy, Spain and Portugal.