Trade Services
Combined Finance - A Jewel In The Crown For Icon Live
One firm that is gearing up for booming festive sales is Icon Live Limited, an importer of fashion jewellery and accessories, which they supply to major blue chip retailers such as Asda, House of Fraser, Sainsbury’s, Woolworths and Littlewoods. The firm was established just 3 years ago, but already employs over 500 staff and has a projected annual turnover of £25m.
Valerie Scott, the firm’s Finance Director explains “Christmas is an extremely busy time of year for us, as people scour the shops for gifts and stocking fillers for their nearest and dearest. We have to deal with the large influx of orders that these seasonal surges in demand can bring.
“We realised that in order to cope with the peaks and troughs that seasonal demand can create, a flexible source of funding was necessary. But even this proved challenging as a number of the high street banks that we approached were reluctant to help fund our new start venture, simply because we didn’t fit their rigid criteria.
“I was recommended the services of Bibby Financial Services after a chance conversation with an accounting professional. Bibby were able to provide us with the requisite cash flow at peak trading times as well as the ongoing support we needed.”
Bibby Financial Services provided Icon Live a bespoke trade services solution which releases much needed cash from the firms unpaid sales transactions as well as assisting the firm by paying overseas suppliers upfront on their behalf. This ensures that Icon lives suppliers are paid quickly and efficiently and helps to maintain a good, working relationship with them.
This combined offering, trade services offers a one-stop shop approach to funding for successful, growing businesses which funds purchases and ongoing sales.
Valerie is delighted with the arrangement and says, “We appreciated the fact that Bibby were prepared to go that extra mile to help fund our business and they have continued to impress us by offering innovative, bespoke services tailored to meet our particular needs. With many great opportunities in the pipeline Bibby Financial Services are fully supportive of our plans for the business and it’s reassuring to know that we have them on board for the future.”
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