Home / Knowledge / News / Apparel/Garments / BFS gives $2 m finance to apparel company in California
BFS gives $2 m finance to apparel company in California
01
Aug '17
Bibby Financial Services has announced a $ two million factoring facility delivered to a casual apparel company in California. The company provides outdoor and surfing-themed t-shirts and other apparel to specialty retailers and to consumers via bespoke e-commerce sites. The new account is funded and managed by BFS’s office in Westlake Village, California.

The funding will boost the company’s cash flow, enabling it to take on larger inventory orders and update the clothing line each season to meet changing consumer trends.

The apparel company partners with local artists to design clothing inspired by California’s outdoor lifestyle. In addition to back-office support and advance payment of invoices from the factoring facility, they will also benefit from BFS’s extensive experience in the apparel industry, for which BFS has been a significant source of funding for more than a decade in North America.

Notably, BFS used its commercial financing expertise and knowledge of apparel businesses to structure a flexible financing package that simplified the funding process and reduced the amount of paperwork the client was required to submit.

“Factoring is a popular financing solution particularly well-suited for fashion and apparel companies, which must often deliver their products well in advance of getting paid and must continually refresh their clothing lines to stay relevant,” said Ian Watson, CEO of Bibby Financial Services in North America. “Working with our client to help them attain the financial flexibility needed to navigate such a dynamic industry is exciting. BFS continues to expand its presence in California’s apparel industry as we build on our legacy of creating working capital solutions for small and large companies alike.”

According to the client, quick and easy funding is just one of the reasons they chose Bibby Financial Services as a financing partner. The strategic guidance and knowledge of the apparel industry the team at BFS brings to the table are invaluable assets for clients seeking to grow their business and adapt to industry changes.

Apparel companies make up the largest portion of business for BFS in California. In 2016, BFS provided more than $99 million to over 50 apparel companies and has grown its client base in the apparel industry by 30 per cent over the past three years. Roughly half of BFS’s apparel clients are serviced by the company’s California office. (SV)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Textiles | On 20th Feb 2020

An Industry Goes Viral

When the novel coronavirus, now called COVID-19, was first detected...

Pic: Shutterstock

Textiles | On 20th Feb 2020

Rising global import of sacks and bags

Overall trade of sacks and bags (for packaging of goods) has been...

Pic: freemind-production / Shutterstock.com

Retail | On 20th Feb 2020

Authentic Brands announces acquisition of Forever 21

Authentic Brands Group (ABG), a global brand development, marketing,...

Interviews View All

Textile industry, Head honchos

Textile industry
Head honchos

South India has a very strong manufacturing base

Textile industry, Head honchos

Textile industry
Head honchos

Clothes are no more bound by gender

Top executives, Textile industry

Top executives
Textile industry

Sustainable fashion is also ‘slow fashion’

Manuele Baggini,

Manuele Baggini

Comec Italia Srl is a world leader in the production of printing machines. ...

Yogesh Kanani,

Yogesh Kanani

Incorporated in 1999, Purani Textiless Private Limited is a leading...

Vikram Saria,

Vikram Saria

Shanghai-based Aura Designs Ltd is a leading manufacturer of textile and...

Ashok Desai, Bombay Textile Research Association

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Kevin Nelson, TissueGen

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Marcel Alberts, Eurofibers

Marcel Alberts
Eurofibers

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

Jay Ramrakhiani, Occasions Elegance Wear

Jay Ramrakhiani
Occasions Elegance Wear

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

Sneha Arora, Label Sneha Arora

Sneha Arora
Label Sneha Arora

Sneha Arora, an alumnus of National Institute of Fashion Technology,...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Anjali Bhaskar has an experience of 12 years in the fashion industry. She...

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


February 2020

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


Advanced Search