Success in the apparel business requires a unique ability to see into the future. You need to know what that shopper wants long before they do.
Long lead times—for both retailers and wholesalers—present a unique buying challenge; orders are placed and goods put into production months before a shopper selects a garment off the rack.
As an importer or wholesaler, the time between paying for goods, shipping to customers, and collecting on your invoices is stretched as much as a full season or beyond. The last thing you need to worry about is how to finance the flow of goods. More importantly, you have to worry about the financial strength of your customers.
If you’re a retailer, you have the added challenge of bringing shoppers through the door or onto your website. Your retail space needs to stay fresh and compelling. On top of that, your product needs to turn over quickly, keeping aged inventory to a minimum.
In the apparel business, the landmines you must avoid are the ones hidden in your customer list. Even if you have strong, flexible financing for your business, you can’t be sure your customers do. If your customer can’t pay you, who will? When you guarantee your accounts receivable management through Accord, we will.