Keep on running: how IAMRUNBOX powered through COVID-19 logistics.
For Kirill Noskov, CEO of the active lifestyle brand IAMRUBOX, things are looking bright. With a steady order flow on the books, having tripled their revenue last year, his bet of building a business out of his passion for running is paying off.
“We make backpacks for active people”, says Noskov, explaining that “our goal is to make it easy for people with busy schedules to have an active lifestyle”. This means a lot of emphasis is put on product design and functionality, which requires a very close relationship with manufacturers.
However, when the COVID-19 pandemic hit, and on-the-ground visits to the production site in China became impossible, Noskov was faced with a challenge. All the while, skyrocketing air freight prices made for a high-flying exercise in logistics, and cash-flow management.
“We do prefer ocean freight from a sustainability standpoint, but in this case it also became a business necessity”.
With Treyd, Noskov only needed to disburse the 30% of the order value that is usually paid up-front to the manufacturer. The platform then handled the quality control through a trusted partner, submitted a documented report for his approval, and settled the remainder with the supplier - enabling IAMRUNBOX to only pay for the goods in full after delivery.
Not having to bind liquidity into transit goods, with full assurance of their delivery's quality, allowed Noskov and his team to focus on the opportunities that lay ahead for the fast-growing startup.
“We see Treyd as an integral part of our working capital financing strategy“, he concludes. “We were positively surprised by the team’s understanding of our business needs. They were easy to talk to, so we could actually take a step back from the execution itself.”
After all, for two startups that built their respective brand around speed and agility, working together was really close at hand.
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