Jealous Sweets doubles sales with contract wins
The vegan confectionery firm, which is based in Tooting, West London and was set up by former City bankers Taz Basunia and Imran Merza in 2010, already supplies Selfridges and Harvey Nichols.
Thanks to a working capital loan from Lloyds Bank Commercial Banking, it has now expanded further into Europe and the Asia-Pacific region. Recent high-profile listings include Hong Kong-based Mannings, a health and beauty retailer, and Wellcome, a supermarket chain.
Asda and Holland & Barrett
It has also fulfilled new large orders from major UK retailers including Asda and Holland & Barrett for its gluten-free and sugar-free jellies, which are aimed at adult consumers. The range comes in six variants: pineapple and grapefruit flavour Love Bears; apple and lemon flavour Happy Bears; lemon, apple, orange and strawberry flavour Grizzly Bears; Apple & Lemon Strawberry & Orange flavour Tangy Worms; grapefruit and peach flavour Fizzy Friends and mango, melon, pineapple and grapefruit Tropical Wonder.
Jealous Sweets claimed its growth had put it on track to generate annual turnover of £4m by 2020.
“Our aim is to create a global and iconic brand – and we’re targeting growth not only in the UK market, but also in Europe and APAC [Asia Pacific], where we see huge opportunity,” said co-founder Basunia.
‘Innovative company’
Keith Breavington, associate director, Global Transaction Banking at Lloyds Commercial Banking, added: “Jealous Sweets is a fantastic example of an innovative company that is targeting the more conscious consumer without compromising on taste.
“The business already has an excellent reputation in the UK, but to push forward with the next phase of its expansion, it needed the correct funding in place. The support we’ve provided Jealous Sweets will help the company to fulfil its growth aspirations and drive the business forward, without impacting day-to-day cashflow.”
