Cherry Blooms is a growing Australian cosmetics company that began as a weekend market stall in Brisbane.
Based on the Gold Coast, Cherry Blooms designs, markets and wholesales its unique brand of beauty and style products.
Through its effective use of social media, Cherry Blooms has become known as a ‘rebel’ brand in the cosmetics industry, challenging the status quo while remaining at the forefront of current trends.
In just a few years, demand for Cherry Blooms innovative beauty and style products has soared.
Along with being available in many boutiques in Australia, Cherry Blooms also exports to the United States, Canada, South America and Europe.
A new opportunity
With increasing export opportunities in the United States, Cherry Blooms secured contracts with several leading North American retailers, including the well-known department store Nordstrom.
Having been in business for over 100 years, Nordstrom has more than 300 stores in North America and is one of the United States’ leading fashion specialty retailers.
In order to deliver on these contracts, Cherry Blooms needed additional working capital very quickly, due to the tight payment terms from its manufacturer.
While Cherry Blooms’ bank was supportive of these new export contracts, its bank was unable to provide the required finance at such short notice and so suggested Cherry Blooms contact us to see if we had a solution.
A quick response
We were able to very quickly provide a Export Contract Loan, which allowed Cherry Blooms to meet the tight payment deadlines set by its manufacturer and fulfil these important contracts.
On the back of Cherry Blooms’ success, exports to North America alone are anticipated to reach around 70 per cent of total sales in the coming year – a great result.