Wynn Hamlyn is a New Zealand designer women’s and men’s fashion label creating considered garments with a high degree of innovation and craftsmanship, sold through boutiques and department stores around the world, as well as its own retail store in Auckland.
“Oxen have been a huge asset to us as we navigate the huge ups and downs of a fashion business. They are realistic and pragmatic and understand the nuances of the industry. They gave us real data and visibility on our business to put us in a position to make good decisions.”
Designer women’s and men’s fashion label
The problem that caused us to come to Oxen was cash flow. We would run out of money and have huge cash shortages when buying collections seasonally. Beyond that we had problems understanding our profitability and margins, overheads, to name a few.
Recommendations and knowledge that Oxen had experience in the fashion industry. Same as above, and after an initial chat, a level of comfort in hearing that oxen could help with our issues.
Oxen helped with building a cash flow model and showing us forecasts for 12 and 24 months based on sales projections. Oxen also undertook a VCFO role and helped with decision making in all areas, helping our in-house bookkeeper fulfil day-to-day reporting and instituting processes.
The outcome was the ability to make decisions with the visibility of the finances, knowing the impacts and possible real payoff of those decisions before we make them. The ability to know what parts of the business are profitable and which are not, and what to do to fix them.
Having forecast that we could rely on – visibility into the coming year.
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