By Scott Wright

A GLASGOW-based watchmaker has vowed to invest in Swiss components, expand its range and increase its headcount after securing a loan worth £60,000.

The expansion plans come after anOrdain sold all 250 of its Model 1 watch made since its formation by Lewis Heath last year. Mr Heath, who previously founded headphones maker RHA Technologies in 2011, drew inspiration for his original, mechanical watches from Loch an Ordain, a small loch at Assynt in the Scottish Highlands.

The loan for anOrdain has been provided by UMi Debt Finance Scotland, a £12 million fund which is part of the Scottish Growth Scheme. Mr Heath has recruited an apprentice watchmaker, Euan Fairholm, as part of his growth strategy, increasing its headcount to 10.

Mr Heath said: “The loan has allowed us to invest in a substantial number of components from Switzerland, so we can expand our product offering from one to three models next year.

“Applying for the loan was painless – it all took just three weeks and was very little hassle, which is exactly what you want when you’re running a business - and exactly the opposite of what it normally is.

“Digital and battery powered watches are rapidly in decline because they can’t compete with smartwatches and mobiles – but the sale of mechanical watches hasn’t been affected at all by smartwatches, in fact it’s a growing market.”