Textile firm set for money mentoring
● Leith’s Araminta Campbell among 12 firms to enjoy Moneycorp advice
A Leith-based luxury textiles brand is to be mentored by a foreign exchange and global payments specialist as part of a new year-long partnership, helping it to export into new markets and to new international retailers.
Moneycorp, which opened its Edinburgh office in May 2019, has announced the tieup with Walpole, described as the official sector body for luxury in the UK. It will see Moneycorp mentoring 12 British brands selected to join Walpole’s Brands of Tomorrow programme. In addition to Araminta Campbell – the only Scottish name on the list – the Class of 2020 comprises Anabela Chan, Anatome, Country of Origin, Dai, Hedoine, Matthew Cox, Pepa & Co, Ruuby, Shackleton, Simpsons and Suitcase. This year’s cohort will join alumni that includes Astley Clarke, Charlotte Olympia, and Emilia Wickstead.
The partnership is billed as giving the brands access to Moneycorp’s expertise via one-on-one mentoring, individual support in their global payment needs, guidance on the world of foreign exchange, and insight into how financial operations and access to specialist services can affect a business’s bottom line.
Araminta Campbell is led by Araminta Birse-stewart, and specialises in creating textiles “expressing Scotland’s natural beauty and weaving heritage”. It has created bespoke designs for both private and commercial clients across the world.
Last year it launched several custom commissions including tweed and tartan for the Fife Arms Hotel, and soft furnishings for the Royal
Yacht Britannia’s floating hotel Fingal.
Birse-stewart said when its inclusion on the Brands of Tomorrow list was announced: “It is great to be recognised as a successful emerging brand in the luxury sector, and we look forward to further expanding the global reach of our Scottish textiles with this support.”
Moneycorp said market conditions, Brexit, changing rules for import/export and calls for more sustainability are all considerations for luxury goods businesses. But currency costs can eat into the bottom line of luxury brands, and so effective currency risk strategy and management are key in helping the “best of British” reach their global goals, tomorrow and beyond, the financial firm added.
Lee Mcdarby, MD of international payments at Moneycorp, hailed the opportunity to support luxury businesses during current market conditions. “It’s inspiring to see so many of the brands Walpole works with navigating the current landscape with true British grit, and we are here to help businesses keep an eye on risks associated with the financial markets.”
Walpole chief executive Helen Brocklebank said: “A key success factor for Britain’s luxury brands is their ability to trade internationally, and this year’s Brands of Tomorrow, despite being such diverse businesses, all share an ambition to appeal to consumers worldwide.”
She added that Moneycorp’s expertise “will be such a gamechanger for the programme”.
Moneycorp joins fellow Brands of Tomorrow partners including law firm Mischcon de Reya and the 12 executives who are paired with the firms to mentor on the broader aspects of leading and growing a luxury brand.
“This year’s Brands of Tomorrow, despite being such diverse businesses, all share an ambition to appeal to consumersworldwide.”
HELEN BROCKLEBANK