p.4-7 news 6:FOOTWEAR NEW TEMPLAT 10 08 20/05/2009 12:01 Page 4
NEWS
The Co-operative opts for
BFA UPDATE
Cherry Blossom
The British Footwear Associa- private sector insurers who
tion were pleased to see that will provide this product to
The Cherry Blossom Shoecare
the Government has an- their clients on Government's
range, which is currently
nounced some new measures behalf.
experiencing strong sales
on the following two key The first £1bn tranche of
growth, has recently been listed
issues – Credit Insurance and guarantees under the £10bn
by The Co-operative.
additional Export Assistance. Working Capital Scheme has
The range will be stocked in
now been completed with the
over 3,000 Co-operative Retail
CREDIT INSURANCE banks. A maximum of £5bn of
Trading Group stores nationwide.
Government announces trade top-up cover for trade credit
David Watkins, Sales Director
credit insurance cover for insurance will also be provided
at Cherry Blossom, comments:
business as part of the Working Capital
“We are already seeing
Business Secretary Lord Scheme and the Government
improved sales from our
Mandelson launched a will also consult on
existing customer base and to ensure that not only is the
scheme providing up to £5bn guaranteeing letters of credit.
we are working with The most comprehensive range of
of additional trade credit in- The three largest credit
Co-operative to ensure that products made to the highest
surance to businesses who insurers (Euler Hermes,
this trend continues. Cherry standards but our distribution
have suffered reductions in Atradius and Coface) have
Blossom offers a comprehen- and service levels are second
their level of cover. This will be agreed to offer the scheme to
sive range of products to to none.
delivered as part of the their eligible clients. Scheme
enhance the appearance and “Our customers can conduct
Working Capital Scheme and membership has also been
performance of a wide range of their operations safely in the
will help mitigate the cash opened up to other credit
footwear made from leather, knowledge that they are not
flow constraints caused by the insurance providers with
suede and nubuck right bound by volume orders,
withdrawal of trade credit in- whom Government is cur-
through to trainers. production timetables and
surance cover and constraints rently in discussions. Eligible
“As the original, and now, the delivery dates that are deter-
on the provision of working businesses should apply for
only UK manufacturer of quality mined by the requirements of
capital that this withdrawal the scheme through their
shoe care products, we have manufacturing operations on
has created. credit insurance provider.
invested in our production the other side of the world”,
From May 1 until December Reductions in the value of
facilities in Alfreton, Derbyshire concludes Watkins.
31 this year, UK businesses will insurance which have
be able to purchase six occurred since April 1, 2009
months' 'top-up' insurance will be eligible for the scheme,
Reebok launch ‘Your Reebok’ iphone app
from the Government if credit meaning some businesses will
limits on their UK customers be able to benefit from the
are reduced. The qualifying scheme immediately it comes
Sneaker freaks in the
window will be backdated to into effect.
US and UK will be the
include any reductions Further details of the
first in the world to
since April 1. scheme can be found on the
experience one of the
The scheme comes in BusinessLink website at the
most innovative iPhone
response to growing concern following URL
applications to date –
from businesses across all
www.businesslink.co.uk/
Your Reebok. They can
sectors of the economy that creditinsurance
fully customise, and
reductions in the value of The Export Credits
have the option to buy,
insurance cover create pres- Guarantee Department will
a pair of Reebok shoes through
To download the application,
sure on suppliers to shorten shortly consult on a possible
the Your Reebok application.
simply visit the iTunes App
payment terms, and can place measure to share risk with
The groundbreaking app
Store and search for ‘Your
additional pressure on banks that confirm letters of
combines the revolutionary
Reebok’ or visit
businesses' working capital credit for UK exporters.
iPhone features such as touch,
www.youtube.com/watch?v=g_
facilities.
motion and GPS to create a
VP6xSY8n4 for a guided tour.
Under the scheme, suppliers EXPORT HELP
consumer experience.
The designs can either be
can purchase Government- UK Trade and Investment
The application offers three
shared with friends or the
backed insurance to either (UKTI) Minister Lord Davies of
of Reebok’s most iconic
whole world direct from the
restore cover to the original Abersoch welcomed an extra
silhouettes: The Freestyle, The
application. Friends will be sent
level, double the amount they boost of £10 million
Classic Leather and The
an e-mail link to your design
are able to obtain from the announced in the Budget yes-
Ventilator. The designer can
but to go one-step further
private sector, or £1 million, terday aimed at helping UK
change up to 23 different areas
simply select ‘share with the
whichever is the lower. This businesses to export so that
of the shoe with a choice of 19
world’ and the design will be
design protects the interests they are better placed once
colours, four material options
geo-tagged and added to the
of the tax payer as Govern- the downturn ends.
and add personalised text. The
Your Reebok global community
ment will never take on more For more information
fully customised shoes range
map. From here all the other
risk than the private sector. on Export Help see
from £80 to £110 depending on
shared designs can be viewed
Government has worked Breaking News:
the shoe, materials & optional
and either bought or used as a
collaboratively with the
www.footweartoday.co.uk
extras chosen.
canvas for customisation.
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FOOTWEAR TODAY
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JUNE/JULY 2009
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