Express Trade Capital (ETC) secured a deal for a Hong Kong-based denim manufacturer who will work directly with top U.S. retailers who previously bought its denim goods through indirect wholesale channels.
The prospect reached out to Express to expand its U.S. wholesale presence which would allow it to take advantage of growing interest from top U.S. retailers. Led by assistant vice president, Dina Davletshina, and vice president, Drew Cohen, ETC’s team worked directly with the client to develop a uniquely tailored program for its U.S. entity.
To support an expected annual sales revenue of $15 million, ETC created a $7 million factoring facility and a $3 million purchase order funding line. Prior to signing with ETC, the team assisted the client with setting up its U.S. entity and bank account. ETC will also handle the client’s shipping and logistic needs, ensuring goods arrive promptly and POs are fulfilled timely.
“Our team worked hard to overcome several challenges inherent in funding a company that was technically new on paper but had many years of good history overseas,” Davletshina said. “Although this was a non-traditional prospect, their customer base, product line and management team all fit well into our family of clients, so we rolled up our jeans and got creative. Overall, we were able to get the comfort and security we needed to get this deal done right.”
