298
Fashion Jobs
L'OREAL GROUP
Assistant CRM Manager
Permanent · HONG KONG
L'OREAL GROUP
Key Account Manager
Permanent · HONG KONG
H&M
Total Rewards Manager, Supply Chain
Permanent · TSIM SHA TSUI
H&M
Accounts Specialist
Permanent · TSIM SHA TSUI
ESTÉE LAUDER COMPANIES
Assistant Demand Planning Manager
Permanent · HONG KONG
ESTÉE LAUDER - BRAND
Retail Marketing Manager, Estée Lauder
Permanent · HONG KONG
CLINIQUE
Assistant Education Manager, Clinique
Permanent · HONG KONG
CLINIQUE
Senior Marketing Manager, Clinique
Permanent · HONG KONG
TOMMY HILFIGER
Senior Manager, Creative Services, Tommy Hilfiger Asia Pacific
Permanent · HONG KONG
AESOP
Retail Consultant
Permanent · SHA TIN
NEWELL
Senior Manager, Indirect Sourcing
Permanent · HONG KONG
L'OREAL GROUP
Group Product Manager
Permanent · HONG KONG
ADIDAS
Senior Manager, Materials Availability Management
Permanent · HONG KONG
L'OREAL GROUP
Assistant Purchasing Manager (Marketing, Digital IT)
Permanent · HONG KONG
PUMA
Manager Innovation Technical Apparel
Permanent · HONG KONG
DR. MARTENS
Head of Financial Accounting, Apac
Permanent · TSIM SHA TSUI
TJX COMPANIES
Director of Sourcing, Apparel -Hong Kong
Permanent · HONG KONG
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Hysan Place
Permanent · CAUSEWAY BAY
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Yoho Mall
Permanent · HONG KONG
A & F
Abercrombie & Fitch - Brand Representative (Part-Time / Full-Time), Harbour City
Permanent · TSIM SHA TSUI
KERING EYEWEAR
Kering Eyewear Assistant Trade Marketing Manager Travel Retail
Permanent · HONG KONG
JAEGER
Training Manager
Permanent · HONG KONG
Translated by
Nicola Mira
Published
Dec 18, 2018
Reading time
2 minutes
Download
Download the article
Print
Text size

Who’s Next show to offer factoring services to exhibitors

Translated by
Nicola Mira
Published
Dec 18, 2018

Parisian show Who’s Next wants to be more than a trade event, and is shaping up to become a global service platform for the fashion industry. With this in mind, it recently signed a partnership deal with Belgian easy-access finance start-up Koalaboox. From the show’s next edition, scheduled on Jan. 18-21, 2019, exhibitors will have access to a service enabling them to receive in advance the value of the orders placed with them, so as to be able both to immediately initiate production and offer extended payment terms to their retailers.


Image for illustration purposes - WSN

 
Koalaboox provides a streamlined factoring service that makes use of digital technology and operates via an app, and it sparked Who's Next’s interest as a way to facilitate order placement to small and medium-sized exhibitor brands.
 
All of the January show’s French and Belgian exhibitors will be offered access to an automatic credit line from €25,000 to €1 million, and a 30% discount on the factoring service’s monthly subscription fee, which starts from €30, and which can then be used by exhibitors after the show. “We wanted to offer this opportunity to exhibitors because we think it could unlock negotiations, stopping brands from having to ask for advance payments from retailers and hence facilitating business,” said Frédéric Maus, the show’s general manager.

Specifically, the exhibitors that wish to use this factoring service will have an immediate credit line, with no time wasted on assessing the company’s circumstances. Once the exhibitor issues an invoice, it must be validated by the buyer, and this will release a payment for the invoice amount to the exhibitor the following day. Buyers will have a maximum of 90 days to settle with Koalaboox, which advances the sums.
 
Should buyers fail to pay, the exhibitor will be accountable for 30% of the amount, and Koalaboox pledges to cover the remaining 70%. This is a crucial issue, one on which Who's Next is keen to work further, hoping to be able to offer a complementary debt-collection service at future shows.

The Koalaboox service will be part of WSN.Community, the service platform for the future that Who's Next will present in January. The platform is set to include, besides financing opportunities, a series of training modules derived from the show’s programme of conferences and workshops, as well as the first matchmaking app launched in September 2018 with Swapcard, enabling exhibitors and visitors to build up their own business network during and after the shows. 

Copyright © 2024 FashionNetwork.com All rights reserved.