There’s never been a better time for Australian fashion businesses to take their brand global.
With exports of Australian textiles, clothing and leather goods reaching AUD$6.1 billion1, digitalisation driving e-commerce and more Free Trade Agreements levelling the playing field, ongoing demand for home-grown talent and raw materials is creating exciting opportunities.
Australia’s fashion industry has an excellent reputation among overseas customers, with its style and approach centred around Australia’s unique lifestyle and environment.
However, international competition is fierce, which is why it’s important to be prepared when looking to grow your business in international markets – whether it be in retail, wholesale or online.
Strength in numbers
A diverse and lucrative international retail sector has long been a drawcard for Australian fashion exporters. With many businesses capitalising on overseas opportunities, the good news is yours could too.
Last year Export Finance Australia, the government’s export credit agency, supported A$47 million of fashion exports.
Ambitious brands are working hand in hand with Export Finance Australia and realising their potential through securing a range of financial solutions.
Helping Australian fashion businesses achieve export success
Camilla
When bohemian luxury label, Camilla, set its sights on expanding its retail footprint in the United States, it reached out to Export Finance Australia.
With a network of Australian boutiques, an online business, and an impressive list of Australian and international stockists, Camilla has plans to grow further abroad. To help Camilla deliver on its export vision, Export Finance Australia provided financial support, enabling the brand to set up its first US stores.
Lee Mathews
A loan facility from Export Finance Australia helped Australian fashion brand Lee Mathews grow its international presence.
Since 2000, Lee Mathews has organically grown its business from a small store in Newport, Sydney, to eight shops across Australia and an online store. Engaging Export Finance Australia in the early stages of its international growth has enabled Lee Mathews to build its export wholesale business, with a line of credit ensuring it keeps up with increasing demand.
“This was a game changer for us. It was astonishing to me what an absolutely tremendous service Export Finance Australia has provided," Lee Matthews director Stephen Rae said.
Sir the Label
Working with Export Finance Australia has helped Sydney-based Sir the Label achieve export success.
The contemporary women’s wear brand has enjoyed ongoing growth and overseas demand for its products. A loan provided by Export Finance Australia has allowed them to take on additional orders from its expanding international customer base.
Nicholas the Label
Melbourne-born brand, Nicholas the Label, has built an overseas presence in the US, China, UAE and Turkey, with Export Finance Australia’s support.
Launching in 2009, Nicholas the Label is a modern brand with a global following. By gaining additional cashflow from Export Finance Australia, Nicholas the Label has been able to fulfil increasing export orders and drive sales growth – delivering very exciting opportunities for the brand.
Breaking into a new market
If you want to unlock your brand’s potential, Export Finance Australia could help you, however, before making any commitments, there are factors you will need to consider.
From fashion seasons and distribution channels, to regulations and compliance – understanding international markets and the viability of your export opportunity is a critical component of planning your export strategy and ultimate success.
To ensure you’re fully prepared, research the suitability of your product or service and be sure it meets the needs of potential customers and distributors. There are resources available on Export Finance Australia’s website to help you plan your export journey.
Supporting fashion businesses to grow internationally
If it all sounds a little overwhelming, don’t worry. Export Finance Australia understands the financial challenges you may face as you grow your business.
Export Finance Australia could provide Australian fashion exporters – just like yours – a range of specialised financial solutions to grow your business, or go global, whether you need a cashflow boost to fulfil a large order, transport your consignment overseas or expand into an international market.
Find out how Export Finance Australia could help your business reach its potential at exportfinance.gov.au, or call 1800 093 724.
[1] https://au.fashionunited.com/fashion-industry-statistics-australia