Liddy Design is a Sydney-based company that designs and distributes high-end homewares.
Originally established in 2006, Liddy distributes its products through retail chains in Australia, including Harris Scarfe, David Jones, Myer and Spotlight, as well as a number of overseas markets.
Along with designing products from scratch, Liddy also develops branding, decoration and packaging concepts for a range of other products, and then managing the production and distribution process into these stores.
Liddy has an established export business, with exports accounting for approximately 80 per cent of revenue, a significant proportion of which comes from the United States.
Liddy is focused on growing export sales over the next few years, with several exciting contract opportunities already identified with major international retailers in the UK and the US.
In order to supply these new customers, Liddy required additional working capital to create more products and deliver on this growing pipeline of orders.
While Liddy’s bank was supportive of these new contracts, it was unable to approve the additional working capital required, and so Liddy contacted us to see if we could help.
How we helped
We provided an export working capital guarantee to Liddy’s bank, which allowed it to approve the finance Liddy needed to fulfil these international growth opportunities.
Having the finance available allowed Liddy to cover the increased demand from its existing customers, while freeing up capital to work on these new opportunities.
Our support will help Liddy grow its international sales and strengthen its export business through increased diversification within its key markets.