Apparel Individual 2

The Challenge

As a global supplier importing certified vegan products; clothes, shoes, cosmetics and toiletries, distributed through high street food retailers and specialist outlets, the business wanted a funding solution that provided leverage in bulk negotiations to meet increasing demand.

Operating in a niche market the business’s current funding partner was not willing to commit to additional funding, despite a growing customer order book and excellent relationships with its overseas suppliers and manufacturers. Therefore, following a recommendation from a client of Bibby Financial Services (BFS), the Managing Director (MD) contacted the BFS team.

Office People 7

The Solution

Having received the recommendation from a current client, the BFS Trade Finance Team contacted the business to review their requirements. Following an initial meeting, BFS were able to offer a combined funding package, that allowed the business to improve its cashflow and manage the seasonal fluctuations the business experienced. 

As a global business, the BFS Trade Finance Team also recommended the FX service, which would allow the company to better lock-in future contracts when it forward buys currency in bulk, allowing for improved margins.

The BFS team felt that the company had been importing at a good level for the past two years and could demonstrate its growing customer order book. Also, growth prospects were considered good as the demand for vegan products is increasing in the UK, as they become more readily available on the high street and online.

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The Difference

Having had success importing at a good level, the new funding has enabled the business to service its growing customer order book and meet demand for vegan products. At the same time, they have been able to build on long-standing supplier relationships and secure additional discounts as the business has grown. 

How Trade Finance and FX can help your business?

  • Our Trade Finance solution helps you to buy the stock you need, get paid quicker and ship your products sooner. We help you to unlock the funds you need to fulfil your orders, removing the day-to-day pressure of purchasing from suppliers while improving your cashflow and growing your sales.

  • Our Foreign Exchange service helps you to combine your funding with business forex to release cash from your invoices within 24 hours and exchange to the currency of your choice and locks in exchange rates at today’s price. With just one simple transaction and payments to almost anywhere in the world, you can exchange money and send on the same day. 
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