Targeting wholesale customers, Archies Footwear was looking to expand its international footprint. We were able to offer a trade finance solution.
Archies Footwear is an arch-support thong company based in Echuca, Victoria. After recognising a need for more supportive summer footwear, physiotherapist and CEO of Archies Footwear, Daniel Jones, had a lightbulb moment for a business. He wanted to create a footwear solution that didn’t lead to the foot, ankle, leg and hip issues he’d seen in people wearing traditional flat-soled thongs.
The thongs Daniel designed and produced are a one-piece construction of incredibly lightweight material providing arch support and a tighter strap to allow people to walk more naturally.
Most of Archies Footwear’s wholesale customer base (around 90 per cent) is made up of physiotherapists, podiatrists, osteopaths and chiropractors. The rest are general shoe and sports stores, but that percentage is expanding. The wholesale business model is something that Daniel’s team has been working to replicate internationally since 2018.
“Our export footprint includes the US, UK, Canada and more recently Europe,” Daniel shared. “While we’ve got a successful business in Australia, we didn’t know how we were going to go in these markets. It’s been a matter of starting small, getting a proof of concept in the region and building it up from there.”
Finance to grow
To make more of a mark in these countries, Daniel recognised a need for additional funding beyond what his bank was able to offer. That’s when it was suggested he reach out to Export Finance Australia.
He says the thorough application process meant that Export Finance Australia was able to see the potential of expanding internationally. “Their due diligence was fantastic,” Daniel said.
“The team really took the time to understand every element of the business. From how the thongs are made and how they get on a truck or ship, to how they arrive at the warehouse and our cash flow cycles.”
Our Export Line of Credit enabled Archies Footwear to fund its overseas stock, enabling the business to expand its wholesale business internationally.
Daniel says he’d recommend Export Finance Australia to any business looking to enter international markets.
“Export Finance Australia helped us take our business to the next level,” Daniel said.