With our support, Threebyone was able to grow its business faster and be one step closer to reaching their goal to succeed in international markets.
For multi-branded fashion and apparel company Threebyone, developing a brand locally and then launching it globally has been a successful strategy.
Founded by four veterans of the jeans industry, Threebyone comprises of three high quality brands: Neuw Denim, Rolla’s Jeans and Abrand Jeans. These brands are sold in stores across the world, including Canada, Japan, Norway, the UK and the US and through online retailers like ASOS and Boohoo.
With this global expansion has come a higher demand to keep stock on hand, putting pressure on their working capital. So the business needed extra finance to deliver these additional orders.
David Laidlaw, Chairman at Threebyone, explained that despite the brand’s strong track record and balance sheet, getting financial support for export can be a challenge.
“We were talking about this with our accounting firm Pitcher Partners,” Laidlaw said. “[They] suggested Export Finance Australia might be a good solution for us.”
A friendly, personal approach
Pitcher Partners introduced the team to Philip Smith, Business Development Director at Export Finance Australia. He has supported the company through every step of the financing process. Laidlaw said they were very happy with his friendly and dedicated approach from the beginning.
“Phil was there from day one through to after we’d signed,” he said. “He got answers back quickly, and he was very reassuring.”
Laidlaw was also impressed with how quickly and efficiently we handled the application process.
“We were surprised how easy it was. It's almost like dealing with a private business as opposed to a corporation,” said Laidlaw.
We provided Threebyone with a A$2.5 million Export Line of Credit to support their expansion overseas. With the finance able to cover the cost of stock, the brand can continue to focus on building their presence in the global market.
“We've doubled our USA business in the last 12 months and it looks like we'll do that at least again in the next 24,” Laidlaw said. “Export Finance Australia allowed us to grow our business much quicker. It gave us the freedom to chase our growth and know that we can comfortably deliver on it.”