Textiles, clothing and footwear
Businesses in the textiles, clothing and footwear industries have had a hard time over the last year. Trading conditions are tough, especially for those heavily reliant on imports. In fact, Moneycorp is experiencing its highest ever levels of first-time queries from small and medium sized companies facing financial problems, due to the weakness of sterling.
UK businesses are fighting a major battle against rising prices derived from the reduced buying power of the pound. The effective cost of imported goods from the Far East has risen by nearly 30% since last summer, as sterling has fallen against the dollar, and by 20% for goods from within the Eurozone.
In this period of unprecedented market volatility, companies are at risk from exposure to the weak pound. Every business trading internationally is at risk from currency fluctuations, irrespective of its size, or how complex those trading activities may be. Unexpected exchange rate movements can eliminate otherwise healthy profits.
Moneycorp works with many businesses within the textiles, clothing and footwear industries. As a result, we have a detailed insight into the issues affecting companies within these increasingly competitive sectors – such as transportation costs and extended payment terms. Whether your business is involved in manufacturing, wholesale, trade distribution, retail, or importing/exporting raw materials or finished goods, we can help.
Moneycorp has 30 years’ experience dealing in foreign exchange. We offer a specialist service designed to help your business manage its foreign exchange exposure more effectively. Our experts will help you reduce the cost and complexity of trading internationally.
For more information about Moneycorp, click here.
Case studies – How Moneycorp has helped companies in the textiles, clothing and footwear industries.
Call us to find out how we can help your business: +44 (0)20 7823 7400
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