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Bibby Financial Services Funds Sustainable Apparel Company

January 16, 2015, 07:36 AM
Filed Under: Apparel

Bibby Financial Services announced the funding of visionary apparel company Naadam Cashmere, a luxury garment company offering goods made from Mongolian cashmere sourced by Nomadic herders. As a result of its partnership with Bibby Financial Services, the company was able to expand its distribution model.

Naadam Cashmere was founded with the unique vision of building a sustainable business model that would ultimately help preserve the Mongolian Nomadic herding lifestyle, which is threatened by the region’s increasingly volatile climate changes. Naadam Cashmere circulates a percentage of its profits to the base of the supply chain by investing in life insurance programs for the herders.

Given the cyclical nature of its inventory, the company began to experience cash flow gaps between harvesting seasons and those seasons in which cashmere isn’t in high demand. Bibby Financial Services worked with Naadam Cashmere to provide a tailored funding solution, allowing them to smooth out the seasonality of the business.

“Bibby Financial Services is built around small businesses,” said Leigh Lones, CEO of Bibby Financial Services, Americas. “We encourage that entrepreneurial spirit. If there are invoices to be generated, then 99 percent of the time, we can come up with a solution to fund small businesses.”

Due to the cash influx, Naadam Cashmere was able to grow significantly, moving from an online company to delivering to nearly 40 stores across the U.S.

“Bibby Financial Services helped us factor our entire first wholesale season,” said Matthew Scanlan, CEO and Co-Founder of Naadam Cashmere.

Bibby Financial Services, a worldwide market leader in business cash flow solutions, bridges the access to cash gap between alternative lenders and traditional banks.  It operates offices in ten North American cities and 15 countries. Its product portfolio, which features factoring and asset-lending solutions, serves emerging and established companies. An approved lender for the Export-Import Bank's working capital guaranty program, Bibby USA and Bibby Canada are subsidiaries of its 207-year-old privately held U.K.-based parent. 

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