In the spirit of fashion, the Sourcing Journal Summit Hong Kong 2018 brought together leaders and other players in the apparel and footwear industry who specialize in sourcing and the supply chain and tapped them for their insights on trends in this sector. As the first Hong Kong-based summit hosted by its namesake publication, Sourcing Journal, the event focused on the changing landscape of retail and how technology is ushering in a new set of protocols. Tradewind was proud to sponsor and attend the event, where members of the team shared their trade finance expertise with those dealing in the supply chain side of the business.
As fin tech becomes more widely implemented across the apparel industry, supply chains are benefiting from increased automation and transparency, and as a result, greater accuracy and validity. This lower margin for error better optimizes capital when it could otherwise be lost to the inefficiencies of a paper-trail system. By participating in the event, Tradewind, who uses advanced technological tools in its funding practices, was able to advise businesses on their full supply chain financing services, which provide suppliers with an on-demand pool of liquidity, lower borrowing costs, faster funding, and a higher advance rate.
“The Tradewind team met many experts in sourcing and supply chain at the Sourcing Journal Summit. We were pleased to share our trade finance program and sourcing strategies to both upstream and downstream partners in the supply chain,” says Vicky NG of Tradewind Hong Kong.
With the cascade of brick-and-mortar store closings and continuing rise of Amazon, buyers are facing challenges in the retail space and rely on strong relationships with their suppliers to stay afloat. Some brands are even bringing their suppliers in-house. Tradewind helps eliminate tensions between the two by providing cash flow throughout different points of the supply chain, creating more favorable conditions for both buyers and suppliers alike. Additionally, with improved cash flow management, suppliers are able to invest in improved technology that allows for better quality control, another topic touched on at the event.
The majority of Tradewind’s clients are located in Turkey, China, Vietnam, Bangladesh, Pakistan, India and export to the US, Europe and the Middle East. Tradewind finances sales to many brands including Gap, Ralph Lauren, H&M, Dockers, Target, Levi’s, Inditex, C&A, New Yorker, Pepe Jeans, Debenhams, Arcadia Group, Urban Outfitters, Express and more.