Footasylum set for store expansion with fresh HSBC UK funding
The enlarged facility will support the next phase of Footasylum’s store roll-out programme, with new locations planned in Leeds, Glasgow and Merthyr Tydfil.
As part of the new store openings and upsizes, Footasylum expects to create over 80 new jobs.
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.
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 instore 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.”
Footasylum store in Tottenham Court Road
The first of these new Footasylum stores are set to open in March, with additional openings following in April and May.
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) rating1. 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 targets2, it will benefit from reduced interest rates on the loan.
Media enquiries to:
Grayling North
+44 (0) 113 273 9900
HSBCnorth@grayling.com
Robert Cox
+44 (0) 7387 247450
UKPressOffice@hsbc.co.uk
Notes to editors:
| Store | Project Type | Total Sq.ft | Jobs Created | Opening |
|---|---|---|---|---|
| Manchester Arndale | Store Upsize | 17,758 | 14 | March 2026 |
| Glasgow Silverburn | New Store | 10,305 | 29 | March 2026 |
| Leeds Trinity | New Store | 12,471 | 14 | April 2026 |
| Merthyr Tydfil | New Store | 7,581 | 16 | May 2026 |
| Manchester Trafford | Store Upsize | 17,178 | 11 | May 2026 |
HSBC UK
HSBC UK serves over 15 million active customers across the UK, supported by 23,000 colleagues. HSBC UK offers a complete range of retail banking and wealth management to personal and private banking customers, as well as commercial banking for small to medium businesses and large corporates. HSBC UK is a ring-fenced bank and wholly owned subsidiary of HSBC Holdings plc.
HSBC Holdings plc
HSBC Holdings plc, the parent company of HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 56 countries and territories. With assets of US$3,233bn at 31 December 2025, HSBC is one of the world’s largest banking and financial services organisations.
About Footasylum
Footasylum is a creative, brave and agile omnichannel retailer, with over 65 stores in the UK and a ‘hyper-local’ approach – seeking to serve the local community. The Company was founded in 2005 and is headquartered in Rochdale. It sells a mix of footwear, apparel and accessories through stores, websites, and a wholesale channel. Well-known key third party brands include Nike, adidas, TheNorthFace and New Balance. Examples of Footasylum’s exclusive brands include Zavetti Canada, Alessandro Zavetti, and Monterrain. Footasylum employs around 2,500 staff across the UK and was acquired by AURELIUS in August 2022.
Footasylum’s core audience is 16 to 24-year-old urban style leaders. This demographic tends to prioritise discretionary spend on aesthetics and image, particularly clothing and footwear. They are also more willing to embrace new trends and are prominent users of digital sales channels. Footasylum takes a digital-first approach in its marketing, working in partnership with established and up-and-coming players in industries aligned with its core audience to create online content that inspires, engages and entertains its consumers. Footasylum has industry-leading YouTube (2.9m subscribers) and TikTok (2.3m followers) channels, whose content is facilitated by a creative team of 40 based in a 16,000 sq ft studio located in Manchester city centre.
1 https://ecovadis.com/glossary/esg-environmental-social-governance-investing/
2 The targets are five tracked basis points over the life of the facility. These are set annually and will be variable.