Home / Knowledge / News / Apparel/Garments / Apparel industry seeking new business strategies
Apparel industry seeking new business strategies
24
Oct '09
Apparel companies, still feeling the effects of constrained capital, are seeking new business strategies to help them prepare for success in a changing economy , said Bibby Financial Services which specializes in providing accounts receivable and purchase order financing to small and medium-sized businesses, including those in the apparel industry.

"Apparel companies must still get their clothing and shoes manufactured and distributed to the stores," Bibby Financial Services Managing Director Nick Hart said. "Given limited access to capital in today's bumpy economy, we are working with a number of apparel companies to help them find viable options to keep their firms growing."

A major trend, Hart said is for designers to license production of their goods to other companies.

"That shifts the cost of production to the licensee. The brand might be created by a highly visible designer or performer, so personal reputation is at stake," Hart explained. "Designers like this arrangement during times of reduced liquidity because it allows them to concentrate on the design and brand management without spending time on financing and manufacturing issues."

Despite the still precarious economic environment, a second trend in the apparel industry is the burst of many new start-up companies in the fashion world.

"Designers are leaving existing houses to start their own businesses," Hart explained. "Business disruption always creates lots of opportunity and that's what we are seeing. It used to be that start- up companies would use home equity lines or credit cards to finance their businesses. Now they have a variety of flexible and excellent financing products, including purchase order financing which can be provided when there are confirmed orders for merchandise."

A third trend is a slowdown in payment from overseas distributors, further reducing liquidity in the system.

"Because of our global presence we can work with distributors in different parts of the world, bridging those cash flow gaps to keep sales moving and ensuring payment. Additionally, as an approved lender with the Export- Import Bank, we can guarantee U. S. manufacturers that they will get paid," Hart added.

Bibby Financial Services is a worldwide market leading specialist of business cash flow solutions to small and medium-sized enterprises. With offices in 10 North American cities and 27 countries around the world, its product portfolio includes receivables finance, factoring, export finance, purchase order finance, specialist solutions for the staffing and trucking sectors, and is an approved lender for the Export-Import Bank's working capital guaranty delegated authority program. Bibby Financial Services is a subsidiary of The Bibby Line Group, a 202 year-old privately held company based in the United Kingdom.

Bibby Financial Services


Must ReadView All

Courtesy: Pexels

Fashion | On 23rd Jun 2018

Nigerian bank launches N1 bn fund for fashion entrepreneur

Nigeria’s Bank of Industry has set aside 1 billion Naira (N) to...

Courtesy: Tayal

Textiles | On 23rd Jun 2018

Tayal textile factory in Algeria starts exports to Turkey

Algeria’s largest textile factory, the joint Algerian-Turkish company ...

Courtesy: Manhattan Beachwear

Fashion | On 23rd Jun 2018

Manhattan Beachwear in global partnership with BCBG Group

Manhattan Beachwear, the largest swimwear manufacturer in the US, has ...

Interviews View All

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Kalai Selvi

Vidyashilp Academy in Bengaluru is the country's first Fairtrade School....

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search