Tuffking

Read time: 3 mins        Added date: 25/04/2024

An SME manufacturer of safety footwear is forecasting a 40% increase in turnover this year as it launches 25 new designs and gears up for global expansion.

Man in boot factory

Taking steps towards global expansion

Tuffking, headquartered in Loughton, has a long history of providing hard-wearing protective boots since it was originally founded as Giffard Newton & Sons in 1854. It’s now growing its global presence following increased demand for its products across the world, and aims to hit £50m in turnover by 2030.

Currently operating in 15 countries, the firm is using an £850,000 funding package from Lloyds Bank, including trade finance, to service emerging markets. As part of this investment, Tuffking will be creating six new jobs, increasing its current workforce by 50%.

Waterproof boots

The company has a rich history, supplying the armed forces during both World Wars, and repurposing its factory in Chesham to repair and redistribute footwear to the allied forces. This helped Tuffking become renowned for providing British-made quality products designed to last.

While still supplying the armed forces in 2024, Tuffking has also cemented its reputation as the go-to brand for the UK’s emergency services, nearly tripling its client base since 2021.

Now, after significant investment and innovation – and acting on client feedback – the business has unlocked new opportunities to modernise, diversify and grow.

Tuffking leveraged its 170 years of technical knowledge to update the designs of its entire catalogue. This led to the creation of an industry-leading boot, produced from 100% recycled vegan material, and post-consumer waste. These boots are far lighter and more sustainable than previous models, making them essential for the modern workforce.

Tuffking now has a range of over 100 different products, and while they have been redesigned to be lighter, more comfortable and more sustainable, they still retain the quality and safety Tuffking is known for.

“Our investment in innovation, supported by Stuart and the team at Lloyds Bank, gives us a platform for growth and ensures an edge over our competitors. We have technical knowledge and experience in spades, and for me, it’s all about using that to our advantage. With the number of new sectors needing specialist designs to meet their needs, the opportunities – and potential to grow – are endless.”

Ryan Dhindsa, Managing Director, Tuffking

The result of this evolution and innovation is growth. It has more than tripled its turnover since designing new products, and has expanded in new sectors, such as manufacturing, electrical engineering and logistics. 

“Tuffking is an example of a British business built on heritage and consistent quality, but this does not mean it is resting on its laurels. Instead, it’s looking to the future and Ryan and his team have taken the brave decision to evolve to break into new sectors and markets. We’re proud to deliver a bespoke working capital package for the business, and support the team with its ambition.”

Stuart Wiggins, Relationship Manager, Lloyds Bank

All lending is subject to status.

We adhere to The Standards of Lending Practice which are monitored and enforced by the LSB: www.lendingstandardsboard.org.uk and apply to businesses which have an annual turnover of no more than £25 million.

Business Loans

Finding the right loan can help you manage cash flow, grow your business or help you invest in new equipment or premises.

View loan options

Clean Growth Financing Initiative

From small improvements in environmental impact, right through to large-scale renewable energy infrastructure our Clean Growth Financing Initiative can help.

Clean Growth Financing

Important legal information

Lloyds Bank is a trading name of Lloyds Bank plc, Bank of Scotland plc, Lloyds Bank Corporate Markets plc and Lloyds Bank Corporate Markets Wertpapierhandelsbank GmbH.

Lloyds Bank plc. Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 2065. Bank of Scotland plc. Registered Office: The Mound, Edinburgh EH1 1YZ. Registered in Scotland no. SC327000. Lloyds Bank Corporate Markets plc. Registered office 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 10399850. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278, 169628 and 763256 respectively.

Lloyds Bank Corporate Markets Wertpapierhandelsbank GmbH is a wholly-owned subsidiary of Lloyds Bank Corporate Markets plc. Lloyds Bank Corporate Markets Wertpapierhandelsbank GmbH has its registered office at Thurn-und-Taxis Platz 6, 60313 Frankfurt, Germany. The company is registered with the Amtsgericht Frankfurt am Main, HRB 111650. Lloyds Bank Corporate Markets Wertpapierhandelsbank GmbH is supervised by the Bundesanstalt für Finanzdienstleistungsaufsicht.

Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS). Please note that due to FSCS and FOS eligibility criteria not all business customers will be covered.

While all reasonable care has been taken to ensure that the information provided is correct, no liability is accepted by Lloyds Bank for any loss or damage caused to any person relying on any statement or omission. This is for information only and should not be relied upon as offering advice for any set of circumstances. Specific advice should always be sought in each instance.