Five-figure Small Business Loan keeps Charles Grey Menswear a cut above the competition

Some people’s careers follow linear, logical pathways. Others take sudden dynamic turns when inspiration collides with opportunity. Stephen Dial and Stuart Brand of Charles Grey Menswear fall into that second category.

Before the pandemic era, Stephen was working as an assistant headteacher while Stuart made his living as a football coach. And when Stuart was planning for his wedding, the two friends went suit shopping. Stephen wasn’t impressed with the experience.

“At the place we ended up going, you just didn’t get a service at all,” he explains. “Didn’t even get offered a drink. The staff saw you as a number. So at the wedding, we’d had a couple of beers and I said, ‘we’ll start a tailor’s shop!’ You’ll find I have a lot of wild ideas.

Stuart went on his honeymoon for a couple weeks. By the time he came back, I’d researched suppliers, premises, set up Instagram, all sorts of stuff. I asked if he wanted in, and he said ‘okay, we’ll go for it.’”

This spark of an idea quickly became S&S Attire in Hexham. Despite a modest presence far from the town centre, they were able to work with brands like Mark Darcy and Cavani. Rapid growth wasn’t far behind, first to a bigger shop right near Hexham Abbey, then to Newcastle in 2022.

But rising living costs started putting pressure on their customers’ ability to get the suits they wanted. S&S had always had strong connections on the expo scene, so a solution quickly presented itself: Making their own suits and selling them wholesale.

This new side of the business, Charles Grey Menswear in Stanley, took off spectacularly. They went from selling around 700 suits every few months to over 3,000. Keeping pace with that kind of growth called for additional finance. That’s where BEF North East came in.

“The biggest issue is that stock has to come in,” says Stephen. “If something goes out of stock, you lose a customer. We’d met Antony from BEF North East at an expo, and we needed further funding because we’d just bought in 7,000 suits.

He was there within two days, going through margins and looking at financial forecasts with us. Giving us process ideas which we’ve implemented, as well as arranging the loan.

We got everything done and dusted within 11 days, which is crazy. Antony was very accessible, on the phone whenever we needed him. Honestly, if we could go back two years and start everything again, we’d come to him and BEF right away the first time we needed funding.”

With ample working capital to ensure they never disappoint a customer, Charles Grey Menswear have their sights set on the future. They’re aiming to hit 100 accounts by midway through 2026, then 200 and onwards.

To achieve this, they’re tapping into the cultural power of sport. Social media partnerships with Newcastle United players like Kieran Trippier are putting Charles Grey suits in the spotlight. Collaborations with Middlesbrough F.C. and the Newcastle Thunder rugby team are also on the horizon.

And the potential team-ups don’t end with the world of sport. Stephen and Stuart are exploring corporate deals with sectors ranging from banking to car dealerships. Anyone with an interest in their staff looking tip-top should get in touch.

They’re also expanding their range to cover products like shirts, ties, and three new styles of shoe. Soon, wholesale customers will find everything they need in one place.

“The Charles Grey Menswear team aren’t only running a great business,” says Antony Nicholson, Investment Manager at BEF North East. “They’re also deeply proud of where they come from. Their products, even their entire business, get named after famous North East figures. Everything relates back to their roots.

This is exactly the kind of organisation we take such great pleasure in funding. It exemplifies the level of talent, dedication, and hard work that’s powering our regional economy.”

BEF North East tailored a Small Business Loan around Charles Grey Menswear. Now, Stephen and Stuart can keep doing the same for their expanding customer base. When local enthusiasm meets expert regional knowledge, it’s always a perfect fit.