As retailers prepare for a busy day of Black Friday trading, UK fashion firm, Rustin and Mallory, has secured its relationship with Urban Outfitters with the support of UK Export Finance (UKEF).
Selling vintage and printed women’s fashion, Rustin and Mallory are an experienced exporter selling wholesale to customers in the USA, Europe and Australia as well as retail sales through their website.
Since the start of the pandemic, their exporting business has soared. 35% of their profits now come from overseas, up from 15% at the start of the year, enabling them to double their staff numbers at their warehouse in Bromsgrove, Worcestershire.
Their biggest overseas customer is Urban Outfitters, who have been clients for 15 years. However, through no fault of their own, the financial uncertainty caused by the pandemic caused them to lose insurance cover. This risked damaging their relationship with a key customer and potentially lose business.
Luckily, their financial provider Bibby Financial Services put them in touch with UK Export Finance, the UK’s export credit agency, who were able to quickly provide the required insurance to enable Rustin and Mallory to keep trading.
“Without UK Export Finance’s help we could have lost one of most important customers. UKEF was extremely supportive and obtaining the insurance policy from them was quick and easy. Now we can keep selling to Urban Outfitters, supplying British fashion to the US market.”
– Harvey Morrison, Financial Controller, Rustin and Mallory
UKEF’s mission is to ensure that no viable UK export fails for lack of finance or insurance, while operating at no net cost to the taxpayer. If your business could benefit from their support, visit their website here.
“The COVID-19 pandemic has seen demand for our export insurance policy triple, as UK companies look to continue trading overseas. UKEF is here to support exporters like Rustin and Mallory to win overseas contracts, fulfil orders and get paid through these difficult times.”
– Phill Potter, Senior Export Finance Manager, UKEF