UK firm secures Urban Outfitters relationship with UKEF support

first_imgUK firm secures Urban Outfitters relationship with UKEF support About the transaction: Rustin and MalloryRegionWorcestershireSectorFashionExport locationUSAUKEF supportExport Insurance PolicySelling 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 2020, 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, financial uncertainty caused by the COVID-19 pandemic caused them to lose insurance cover, putting this longstanding relationship at risk.Thankfully, their financial provider Bibby Financial Services put them in touch with UK Export Finance (UKEF), the UK’s export credit agency, who were able to quickly provide the required insurance to enable Rustin and Mallory to keep trading.Harvey Morrison, Financial Controller at Rustin and Mallory, said: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.Phill Potter, Senior UKEF Export Finance Manager, added: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.Get the Exporters’ EdgePutting the right finance and insurance in place can give you the exporting edge, helping you to win contracts, fulfil orders and get paid.Tell us about your business(Photo by Mike Mozart on Flickr. Used under Creative Commons). /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:Australia, British, business, covid-19, Europe, Export, finance, financial services, Government, insurance, market, Morrison, U.S., UK, UK Government, website, wholesalelast_img read more