Derby, UK, based Huub, whose wetsuits are worn by top athletes, such as the Brownlee brothers and Caroline ‘Xena’ Steffen, is forging ahead with its international expansion plans and job creation programme thanks to support from the Derby Enterprise Growth Fund (DEGF).
The £20 million DEGF is supported by the UK Government’s Regional Growth Fund. Run by Derby City Council, DEGF aims to support growth and job creation in businesses in the city and surrounding area through a mix of loans and grants.
Huub, which recently moved to its first premises at the Sinfin Lane Industrial Estate, has been supported with a £100,000 loan and £70,000 grant. This will enable the company to expand into more international markets, invest in research and development into a new range of premium wetsuits and employ seven more people over the next two years.
So far, the company has taken on two more staff to handle customer service and supply chain management with a further five jobs planned for the future in such areas as sales, finance, design and warehousing.
Huub wetsuits have been designed to improve a swimmer’s position in the water, making them more hydrodynamic. They allow biceps and calf muscles to move more freely, with the aim of making the swimmer more comfortable, and faster, through the water.
In addition to pro triathletes Caroline ‘Xena’ Steffen and London 2012 Olympic triathlon heroes the Brownlee brothers, other high profile customers include chef Gordon Ramsey, F1 driver Jenson Button and the Prince of Denmark.
Huub founder and Managing Director Dean Jackson explained that the Derby Enterprise Growth Fund had been crucial in the company’s expansion plans. “We are moving into a number of exciting new international markets including China and Australia where we are on track to be the number one wetsuit brand next year,” he said.
“As with many growing companies, cashflow is an issue and we needed this grant and loan support in a number of key areas. This has enabled us to source more suppliers to take forward the brand and meet the growing order book.”
Dean added, “We are planning to invest in research and development into a new range of premium wetsuits and the growth of the business will lead to job creation in both the short and medium term.
“Without the support from the Derby Enterprise Growth Fund, we would have been in danger of standing still which would severely compromise the competitive edge that we have worked so hard to build up since our launch in 2011.”
Derby City Council Leader Cllr Paul Bayliss, who chairs the DEGF panel of industry and financial experts, said: “Huub is a great Derby success story with a great medal winning pedigree. They are committed to growing their business, investing in innovative new products and expanding their international customer base.
“Their passion for growing their business here in the city and creating more local jobs for local people has made them an ideal candidate for support from Derby Enterprise Growth Fund.”
www.huubdesign.com
www.derby.gov.uk/degf
