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Sydney-based energy drink exporter Ignite Corp (Ignite) is using Australian cricket’s fast pace bowling hero Brett Lee as combined brand ambassador and market opener in its increasingly successful export drive to the sub-continent. Working capital support from Export Finance and Insurance Corporation (EFIC) and the Commonwealth Bank has enabled Ignite to increase production to fulfill orders to get further export ‘runs on the board’ with its ROCKTM energy drink. A specially produced ‘Brett Lee can’ featuring the leader of Australian cricket’s bowling attack has been an instant success in cricket-loving India and Pakistan in particular. In an export run chase of epic proportions, Ignite is taking on energy drink giant, RedBull, making significant inroads in strategic international markets. Ignite credits the innovative EFIC Headway product – a financial guarantee from EFIC to a participating bank – with being crucial to its success. “EFIC Headway has been fantastic and I hope it will be the start of a continuing association with EFIC,” said Ignite Corp founder, Tim Xenos. “We had a facility from our bank, but EFIC Headway meant they could assist us with additional financial support to enable us to increase production to fulfill new orders. We have gone from shipping one container a month to around six to eight a month.” EFIC Headway enables eligible small and medium-sized exporters such as Ignite to access additional capital from their participating bank, without the need to provide added security. “The Commonwealth Bank team is excited to be working with Ignite and looks forward to growing opportunities to finance the company’s international trade,” said James Guilfoyle of Commonwealth Bank and Ignite Corp’s relationship manager. “The opportunity to work with EFIC has also demonstrated the value that they can bring to a client relationship when working capital resources are stretched but where export contracts are held,” James said. While Brett Lee is ambassador only for Ignite’s non-alcoholic ROCKTM energy drink, the company also exports ready-to-drink alcoholic beverages. Ignite Corp is a little unusual in that the company had a global focus from the outset, deciding early success was more likely overseas than in Australia’s more difficult brand-conscious market. “Having imported drinks as a distributor, we knew the Australian market was tough,” said Tim Xenos. “Around the world, people are more prepared to try something new and, funnily enough, 85 to 90 per cent of our sales are in export. As soon as Brett Lee appeared with the ROCKTM brand, sales started coming in from India – that’s how big Brett is in the sub-continent.” Ignite Corp is active in Asia and Europe and has international distributors in India, Pakistan, the Netherlands and the Maldives. EFIC Headway is available through the Commonwealth Bank, HSBC, NAB, Westpac, ANZ, BankWest, Bank of Queensland, Bendigo Bank and St.George. Contact
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