Member Article

Ex-Newcastle sports stars score £225k investment to expand clothing venture

Oddballs Apparel, set up by former Newcastle United goalkeeper Steve Harper, ex-Newcastle Falcons and Scotland rugby union international Richard Metcalfe and former Falcons chief executive Paul Varley, is set to increase its production output following a £225k investment.

The company, which designs, manufactures and retails boxer shorts and briefs for both men and women, has worked with regional fund management firm NEL Fund Managers to secure a £225,000 investment from the Finance For Business North East Growth Fund.

The sporting friends established the business as a way of raising money for men’s cancer charities, with ten per cent of every sale being donated to organisations concerned with testicular cancer.

Oddballs’ initial products have quickly proved extremely popular, with many selling out on the www.myoddballs.com website, and the management team is now implementing plans to double its product range, with new items including flip flops and swim shorts.

Eight new machining jobs are also set to come to Newcastle through an investment in new equipment on which the firm’s products can be made locally, and the management team is also in discussions with more than a dozen potential High Street retailers that want to feature their wares.

The management team is aiming to hit a turnover figure of £600k by the end of this year, and to then raise it to £3m within the next three.

Richard Metcalfe, who has previously attracted an NEL investment for his Orion Teamwear business, says: “The patterns of our products are obviously the first things that catch the eye, but the quality of the materials we use and the attention to detail in the manufacturing process are just as important in creating something that really stands out.

“The response we’ve had in just a few short months has been fantastic - our social media presence has grown extremely quickly, with more than 18,000 people following our @myoddballs Twitter feed alone, and we’ve had great support from athletes and teams right across the sporting world.

“With our strong links to the area, being able to bring jobs back to Newcastle is particularly pleasing for us all, and we know the textiles and machining expertise we need is going to be readily available in the region.

Richard added: “Extending the product range seems like a natural next move to make, and the interest we’ve had from High Street retailers has been very encouraging. We’re already getting pre-orders for items that will be coming online soon, and all our sales are adding to the total sum that we’re able to donate to the testicular charities that we support.

“We’ve set ourselves some stiff commercial targets over the next few years, but we’re confident that we’ve got the business model and products in place to reach them, especially now that NEL has come on board - our relationship with their team has been fantastic and the whole investment process went really smoothly.”

Chris Parker, investment executive at NEL Fund Managers, adds: “Oddballs has quickly established an extremely strong brand presence that’s backed up by an excellent product range and the commercial knowledge required to achieve great things in the future.”