When Active Apparel Group identified a pivot opportunity to make reusable face masks, we provided the working capital they needed to get started.
Active Apparel Group (AAG) manufactures and exports high quality leisurewear, sportswear, swimwear and activewear from its WRAP-certified factories in China.
With the initial outbreak of COVID-19 in China, AAG had to temporarily close its factories. When it resumed operations in late March, management employed extra staff to fulfil their back orders.
“Our customers in the United States then started to reduce their orders, because their businesses had started to shut,” said Daniel Hawker, AAG’s Co-Chief Executive Officer. “We were left with a significant amount of spare capacity.”
AAG identified a pivot opportunity to manufacture and export non-medical grade reusable face masks to buyers in the US. Paul McCloskey, President, explained that demand for the facemasks was immediate, so they needed to act quickly and approach us for finance.
AAG responded with a global co-ordination of their manufacturing team focusing on the product development, global sales team securing the sales opportunities and their head office team working closely with Export Finance Australia to support the funding need, It was group wide focus to meet the strategic pivot in a very short period of time.