Working closely with the UK Fashion & Textile Association (UKFT) and other fashion industry partners, we help fashion companies save money and avoid losses on international money transfers.
With nearly 10 years’ experience in guiding fashion businesses on currency strategies to minimise risk and protect profits, we understand the fashion business cycle inside and out. We know that firms which design their own products may have to cost garments up to eight months before they land; and sometimes even earlier. Some of our clients cost a spring/summer collection almost a year in advance and therefore need to be able to determine their profit margins ahead of time. They determine their prices based on raw material costs, time, labour, overheads and many other factors, including currency exchange rates.
This provides a challenge in their pricing strategy, as it is impossible to know what currency markets are going to be doing a week in advance, let alone a year in advance. In order to overcome these concerns, we help our fashion clients create bespoke currency hedging and treasury management strategies.
“UKFT are pleased to be associated with Smart Currency Business. Much of UKFT’s work is in the promotion of exports and in this regard selling or purchasing in overseas markets requires management of risk and exposure in foreign currencies. Smart Currency Business is a respected member of the financial community and covers all global currency spectrums from small start-up businesses to larger enterprises.”
John Miln, CEO of UKFT
Knowing the business trends in the fashion industry, we help UK fashion businesses optimise their currency strategies.
Our activities in the fashion sector include:
- Our partnerships with the UK Fashion & Textile Association (UKFT), UK Trade & Investment (UKTI), London Fashion team, and the British Interior Textiles Association (BITA)
- Talks, seminars and presentations in conjunction with our partners on how vital currency strategies are to practical exporting
- Insights: Fashion Business, our informative publication which features tips, guidance and experiences from fashion industry experts and owners of successful fashion companies
- Industry referrals – we are always happy to introduce you to specialist service providers that could be of help to you, or contacts that you might like to collaborate with.
Our sector-specific, proactive approach has helped fashion businesses avoid losing money on their international payments, helping them to grow and thrive.