Celestial Imports receives £1m funding
Celestial Imports, which sources C&T products from customers in China to create bespoke gift sets for high street retailers with own-brand products, has received funds of £1m from asset-based lender Davenham to help expand its business. The company, based in Tamworth in Staffordshire, UK, required the extra money to fulfil an increasing number of orders from retailers.
Celestial Imports, which sources C&T products from customers in China to create bespoke gift sets for high street retailers with own-brand products, has received funds of £1m from asset-based lender Davenham to help expand its business. The company, based in Tamworth in Staffordshire, UK, required the extra money to fulfil an increasing number of orders from retailers.
“As the gift sets are specially designed for each retailer, we do not hold stock but instead purchase the products against specific orders,” explained Celestial Imports co-founder Paul Hodrien. “As our reputation has grown, so has the quantity of those orders. So in order to fulfil them it was necessary to arrange extra funding to purchase the products.”
Celestial Imports was formed in 2008 by partners Hodrien and Niki Beaton-Jones.