Dutch menswear brand Suitsupply attracts 300 million euros from major banks

The Dutch menswear label has attracted 300 million euro from NPM Capital and four major banks. Suitsupply will use the new funding to update and expand its online and offline store network.

Suitsupply received financial aid from investor NPM Capital, ABN Amro, BNP Paribas, ING and Rabobank to expand its footprint both locally and abroad.

The men’s fashion chain launched in 1999 as a webshop and with physical stores in the Netherlands and abroad since 2000.

The new funds will help the fashion chain continue its international expansion and to remodel its current Dutch stores.

It will also invest in new technology to better align its offline and online sales. Part of the loan will go toward debt refinancing and its Suistudio subsidiary, a clothing line for women they launched this year, with stores in Amsterdam, New York and Shanghai.

Suitsupply currently has a 300 million euro turnover and a 25 percent annual growth pace.