Rainbow Productions has seen sales of its mascot costumes rocket past pre-covid levels as people flock back to live events and gatherings.
The character and costume specialist manufacturers all costumes by hand from its London premises in Colliers Wood. The new unit, purchased with the support of challenger business bank Allica Bank, is based nearby and will allow Rainbow to increase its capacity as demand for both new mascots and its aftercare services have grown, potentially increasing their operating capacity by as much as a third.
The property was purchased using a commercial mortgage from Allica Bank, which is a challenger bank specifically focused on supporting established businesses like Rainbow with a combination of relationship manager support and powerful technology.
The MD of Rainbow Productions, Simon Foulkes, said, “Rainbow has seen some fantastic growth on the back of soaring demand for live events, which has exceeded pre-pandemic levels.
“We’re incredibly pleased to have acquired our new unit with the help of Allica Bank and our relationship manager, Martin. Once fully operational, it will enable us to operate much more efficiently and give us the confidence to continue to grow the business in line with demand. It also secures our future in the local area which is so important given our hugely talented pool of colleagues.”
Talking about the support they provided to Rainbow Productions, their relationship manager at Allica Bank, Martin Parker, said, “Allica Bank is thrilled to partner with such an exciting, growing business like Rainbow Productions. Simon and his team have vast experience, which they combine with immense creative talent, and have a clear vision for the firm that made them the perfect business for Allica to support. It is also wonderful to work with a business that exists to make people smile!
“Allica Bank is committed to serving established businesses like Rainbow, who are such a core part of our local communities. As their relationship manager, I am looking forward to working closely with them to see how else we can help them grow. Maybe we’ll even see an Allica Bank mascot enter the scene!”