Financing the Fashion Industry
When it comes to the money side of the fashion apparel industry, seeking financial services can be daunting for brands and retailers who may be considering everything from factoring and letters of credit to supply chain financing and corporate credit cards. Here, IDB Bank, HSBC, U.S. Bank and CIT Group share how they are innovating the financial services sector today and what solutions they are leveraging specifically for the fashion industry. With insight from key executives in the finance industry, each company revealed its solutions powering today’s retailers and brands and helping to address key challenges. IDB Bank Lissa Baum is executive vice president of commercial banking and chief lending officer at IDB Bank. “For 70 years, apparel companies have looked to IDB Bank for their banking needs,” said Lissa Baum, executive vice president of commercial banking and chief lending officer. To suit their needs, IDB Bank provides a host of services including: checking accounts, money market savings accounts, time deposits, structured time deposits, foreign exchange and interest rate derivatives, customized loans and online banking. With its headquarters in Manhattan, IDB Bank is located at what Baum calls “the pulse” of the fashion industry, delivering on the wants and needs of apparel companies today. “We aspireFollow WWD on Twitter or become a fan on Facebook.
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