Halston Lands Export Credit Line From Bibby
Halston is looking to grow globally, according to Bibby International Trade Finance, which provided a multi-billion dollar export credit line to the New York–based luxury brand.
“Until now, Halston has been self-funded,” said BITF Managing Director Ian Varley in a statement. “To satisfy growing demand for its line of contemporary women’s clothing, it turned to external financing to support its increased working capital requirements. We provided funding in multiple currencies—US dollars, euro and sterling. And with our global reach and international trade product, we efficiently worked across borders to get our clients the cash they needed to grow their business.”
The funds will be used to expand the company’s business worldwide, including its main Halston collection and its new secondary collection, Halston Heritage, which features archival Halston looks at contemporary prices. Actress Sarah Jessica Parker was named the president and chief creative officer of Halston Heritage earlier this year.
BITF is a division of Bibby Financial Services, which is a division of United Kingdom–based The Bibby Line Group, founded in 1807.
Bibby Financial Services specializes in cash-flow solutions for small- and mid-sized companies, providing services such as factoring, export finance, purchase-order finance and specialist solutions for the government, staffing and transportation sectors. With 8,000 customers and funding more than $7 billion in receivables worldwide, Bibby has offices in 11 countries and 10 North American cities, including Los Angeles. For more information, visit www.bibbyusa.com.—Alison A. Nieder
