“We have managed to maintain order quantities shipped to Europe by adjusting our prices, but we believe it is also time to venture into other emerging markets,” said Fast Base Marketing Manager Jennifer Tsang, noting that eastern and northern Europe offer great potential.
A frequent exhibitor at Hong Kong Fashion Week, Fast Base also rides on HKTDC trade magazines, hktdc.com and its own website to find new customers. In July 2011, the hktdc.com Buyer Meetings service introduced the company to a Russian buyer who eventually placed an initial order for 6,000 pieces of sweaters.
Matching Expedites Market Growth“This buyer is so delighted to see our collections from our design team which offers more than 1,000 new styles each season,” she said. “They also asked for more when it came to yarns - and as we excel in yarn development we were able to create some prototypes specifically for them.”
“It is so good to be able to meet referred buyers on-site, since the requirements of both sides are better expressed in face-to-face conversations. Everything worked out within a few months because this buyer was seeking a knitwear supplier with strong design capability, and this is exactly our strongest selling point,” added Ms Tsang.
Even before the meeting, Fast Base had strong support from the HKTDC to gather background information about the buyer. Details such as sourcing requirements and payment preferences were important for sealing the deal.
“We have confidence that buyers referred by the HKTDC are trust worthy,” she said, adding that as the company keeps working with the buyer on new orders, “very likely they will become our long-term partner in this new territory.”