Wells Fargo Capital Finance provided a global hybrid asset-based and intellectual property facility to AllSaints and its subsidiary, John Varvatos, which are two international fashion brands. More specifically, acting as the sole lender, Wells Fargo Capital Finance provided a multijurisdictional, five-year, £65 million ($88.6 million) financing solution that will provide liquidity for organic growth and support working capital needs.
“We are very pleased to be working with Wells Fargo Capital Finance as we build on the strong momentum that we are currently seeing across both brands,” Peter Wood, CEO of AllSaints and John Varvatos, said. “We have a clear strategy for each brand built on a sustainable operating model and now have larger customer bases than ever before. It is great to have the support of Wells Fargo Capital Finance as we execute our plans.”
“AllSaints and John Varvatos have established themselves as innovative brands with wide-ranging appeal across all customer demographics,” Tayyib Chowdhry, director with Wells Fargo Capital Finance’s UK originations team, said. “We are delighted to have structured a truly flexible facility to support their highly diversified business models and differentiated products, which will support their continued growth.”
