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VOL. 32, NO. 4

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Financial Services

Canadian Publications Mail Product Sales Agreement # 40023636


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ca canadianapparel magazine


504-124 O’Connor St. Ottawa, Ontario K1P 5M9 Tel: (613) 231-3220 Fax: (613)231-2305


Publisher Bob Kirke Tel: (613) 231-3220 ext. 224 Fax: (613) 231-2305 email:

Managing Editor Marsha Ross 801-555 Chabanel St. West Montreal, Quebec H2N 2H8, Canada Tel: (514) 382-4243 / (888) 382-4243 Fax: (514) 382-4612 email:



Click and grow: Instructions on the homepage of make it easy to order a made to measure suit online.

J u ly- A u g u s t 2 0 0 8 V o l u m e 3 2 , N o . 4

General Inquiries Circulation/ Subscriptions Michèle Bédard Tel: (613) 231-3220 ext. 300 Fax: (613)231-2305 email:

Advertising Inquiries Patrick Thomas Tel: (514) 383-0916 email:

Published by the Canadian Apparel Federation Elliot Lifson, President

5 Wear Canada


6 Retail Update

8 Click and grow

Slumping sales. Popups. Sagging revenue. Concepts. Openings. Expansions. And the odd revival.

For Leo Green of ExecStyle, cyberselling opened up a whole new market and revitalized a family business. Savvy suppliers use the Internet to strengthen their brands, communicate to their target population — even clear merchandise..

Financing Fashion




UPS: Global Supply Chain Financing


EDC: More than just credit insurance.




AHRC: Financial toolbox

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16 Trade

Need help structuring your exports? Gerry Horn says expertise and the funding are readily available.

17 Womenswear Trends

The shapes of Spring 2009 – from Worth Global Style Network

21 Calendar of Events 22 Industry News

Bill Blass – relaunched. Peter Millar – licensed. Cold Method – distributed. FashionNorth Montreal - cancelled.

Subscription information ISSN-1484-3684. Published six times annually. Free subscription to members of the Canadian Apparel Federation (CAF). Subscription rates for nonmembers: New Brunswick, Nova Scotia and Newfoundland $28.75 per year. All other Canadian addresses - $26.75. Canadian prices include GST/ HST. U.S. Subscribers $35.00. International subscribers $45.00 payable to the Canadian Apparel Federation by money order, bank draft, Visa or MasterCard. Allow 8 weeks for start of delivery. Single copies - $5.00 plus GST/HST. The contents of this publication may not be reproduced in whole or in part, by any means (including electronic, mechanical or photographic) without the prior written consent of the publisher. Mailed at C.P.A. St-Laurent, Quebec. Canadian Publications Mail Product Sales Agreement No. 40023636. G.S.T. #135623478. Send address changes to: Canadian Apparel Federation, 504-124 O’Connor St., Ottawa, Ontario K1P 5M9 or

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Japanese Trade Mission – January 2009

Following our successful Trade Mission in 2007, CAF is planning a return to Japan in January 2009. The Mission will provide an opportunity for Canadian apparel firms to connect with prospective retail/distribution partners.

Intimate/Lingerie Sector Exhibitor Program New York – February 2009

Exclusive opportunity for CAF members. Package includes discount on Booth space and promotional support at key NYC lingerie/swimwear shows.

Las Vegas Market Exhibitor Program February 2009

Exclusive opportunity for CAF members - includes a discount of $1000 on booth space and advertising in our Wear Canada show publication.

Japanese Market Export Sessions

The Canadian Apparel Federation will host a series of information sessions this fall for companies interested in expanding their market presence in Japan. Presenter Akio Mera, of the Japanese Textiles Importers Association, will lead the discussion and will be available to meet with firms interested in exporting to Japan. Dates and Times: 8 a.m - 12 noon all cities: September 23 = Vancouver September 25 = Toronto September 26 = Montreal


Contact: Elliot Schiller 416.480.0832 • 1.888.676.0832 •


Location and registration details will be available shortly at and via CAF’s email newsletter, CA Update. For additional information, contact Bob Kirke T: 613.231.3220 ext. 224 E-mail:



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ca R E TA I L

retail update

Revenue slips at Reitmans Reitmans (Canada) Inc. says unseasonable weather, reduced consumer confidence and a challenging retail environment all contributed to a 1 percent drop in sales for the first-quarter ended May 3, and a further 8 percent drop in the four weeks ended May 31. Revenue for the first-quarter came in at $228 million, down from $230 million in the same quarter a year earlier. In the first three months of 2008, samestore sales decreased 4.8 percent and they were down 12.2 percent in the last four weeks of May. Net earnings for the first-quarter were $18.4 million, up from $18.3 million in the same period last year. Reitmans opened 14 new stores during the quarter and closed eight, ending the period with 964 outlets. It plans to open 32 more stores this year. The company operates stores under the Reitmans, Smart Set, RW & Co. Thyme Maternity, Cassis, Penningtons and Addition Elle banners.

Canadian Tire mixed format stores Canadian Tire Corp. has opened its first mixed-store format in Quebec, combining the company’s traditional selection of automotive and home products with a clothing section operated by subsidiary l’Équipeur, known in the rest of Canada as Mark’s Work Wearhouse. The store in Laval measures 130,000 square feet — 80,000 square feet for Canadian Tire and 14,000 square feet for l’Équipeur. A second integrated store opened in Pointe-aux-Trembles.

Lululemon hires former Speedo and Levi’s exec

Forzani’s same-store-sales decline

Vancouver-based lululemon athletica Inc. has hired Sheree Waterson, who was most recently president of Warnaco’s Speedo division, as Lululemon’s new executive vice president of general merchandise, management and sourcing. Waterson will oversee Lululemon’s merchandise management, global production, community legacies and visual merchandising. Waterson has 25 years experience in the consumer and retail sectors. Before Speedo, she was vice president of merchandising for women’s apparel at Levi Strauss & Co., where she pioneered the ‘fit logic’ initiative. She has also been vice president of merchandising at Gymboree and held a senior level position at Wet Seal.

Chlorophylle concept stores Chlorophylle has opened two new concept stores in Montreal and one in Quebec City. The Montreal boutiques are located on St-Denis and in a gentrified setting at the Atwater Market. The Quebec City location is on Bouvier. The addition of the stores brings the total number of Chlorophylle locations to 13. “These new stores are the result of our strategy to develop a network of concept stores across Canada,” said Laval Tremblay, the Saguenay-based company’s founder and president. Chlorophylle’s boutique concept includes displays, countertops and changing rooms that were built in the Lac St-Jean region from recycled barn sheds. Even shopping bags, produced in Chicoutimi, are made of fabric surpluses from past collections.

Forzani Group Ltd suffered its biggest decline on the TSX in four years, after the company reported an unexpected first-quarter loss and a same-store-sales decline. Forzani posted a net loss in the period ending May 4 of $2.91 million, compared with a profit of $739,000 a year earlier. The company said unseasonably cool weather in the quarter hampered sales of spring merchandise, while its acquisition of bankrupt Athletes World Ltd. reduced profit by $1.3 million.

Retailers hustle to make fashion “fast” Chains ranging from J.C. Penney to J.Crew are scrambling to make their orders more precise so they can stock just enough of the hottest styles for today’s fickle and tight-fisted consumers. Advances in software and technology are allowing stores to offer the latest trends weeks or even months faster than before. Among the retailers that have raised their profit margins because of such improvements are Abercrombie & Fitch, Gap, Aéropostale and Kohl’s. By quickly moving the most desirable items into stores, retailers can ease their reliance on price markdowns, which cut into earnings, and can order less merchandise more often. J.C. Penney has shrunk the time from designer to store from about a year, as recently as 2006, to about seven months, according to president Ken Hicks.

Monthly Sales Comparison of U.S. Apparel Retailers


Total Sales $ May 2008

Total Sales $ May 2007

American Eagle Outfitters



Bon Ton



Cato Corp.



Total Sales $ YTD 2008

Total Sales $ YTD 2007

Total Sales % YTD 2008

Comp Sales % May 2008

Comp Sales % May 2007

Comp Sales % YTD 2008

Comp Sales % YTD 2007
































Dillard’s Dept. Stores
































JC Penney










Pacific Sunwear






Ross Stores











Saks Inc.











Stein Mart









Target Corp.








The Buckle









The Children’s Place











The Gap











The Limited









TJX Cos.























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Total Sales % May 2008






Sears Canada to roll out more ‘pop-up’ stores

Investors revive Zacks Fashion

Following a successful test run, Sears Canada Inc. has decided to open more temporary “pop-up” stores in an effort to boost sales. The retailer opened its first Canadian pop-up boutique in Windsor, ON last November, as shoppers were crossing the border into the U.S. to take advantage of the soaring Canadian dollar. One of the measures Sears Canada developed in response was the concept of mobile retailing, which involves small temporary storefronts, often less than 10,000 square feet, or 1/10 the size of an average Sears department store. The outlets focus on limited-time prices or assortments, such as specialty clothing lines.

Three Canadian fashion industry players have come to the rescue of an 87-year-old Canadian retailer. Zacks Fashion, a family-run business offering a wide range of clothes from day wear to evening gowns and coats, went into receivership earlier this year. The new deal will allow it to reopen 15 of its 28 outlets and restore 100 jobs. The financial heroes for the ailing fashion house are Jack Fixman, president and owner of Modes Cazza, with 29 outlets throughout Quebec and Ontario, and Jeffrey and Michael Cape, vice presidents of Collection Conrad C, a Montreal-based manufacturer. The new investors plan to play an active role, supervising the day-to-day retail operations, updating the look of the stores and streamlining business operations. n

Chico’s profit down 73% Chico’s posted a 73 percent drop in first quarter profit on higher costs and lower sales at its namesake stores. For the three months ending May 3, net income fell to US$12.7 million from US$47.2 million in the prior year quarter. Net sales were down 9.6% to US$409.6 million from US$453.1 million and samestore sales dropped 17.5 percent. Same-store sales at the Chico’s brand were down 22 percent and fell 10 percent at White House|Black House. The retailer operates 1,063 women’s specialty stores.

Bikini Village rejuvenating retail presence Groupe Bikini Village’s aggressive renovation and expansion plan has taken two steps forward with the openings of a new outlet in the Carrefour Champetre in Quebec’s Eastern Townships and a re-located and fully renovated store at Square One Mall in Mississauga, ON. The company’s initiative to rejuvenate its retail presence throughout Eastern Canada, undertaken in 2007 and slated to continue in the coming months, is already yielding improved financial results, with significant growth in the fourth quarter of fiscal 2007 compared to the same quarter a year earlier. Early 2008 results are continuing to reflect this trend. Groupe Bikini Village inc. operates 59 stores and employs approximately 500 people. Info:

Men’s Wearhouse profit falls The Men’s Wearhouse has posted a 76 percent drop in first quarter profit on lower sales and tuxedo rental revenues. For the first quarter ended May 3, the retailer said net income fell to US$9.9 million from US$40.9 million the year before. Excluding costs of $0.9 million for closing the Canadian-based manufacturing facility operated by its Golden Brand subsidiary, the company said earnings per share were US$0.20 - the bottom end of earlier guidance. Revenues slipped one percent to US$491.1 million from US$496.1 million in the comparable quarter of 2007. Apparel sales, which account for 79 percent of total revenues, were down 4.6 percent as fewer people visited its stores. Tuxedo rental revenues fell 18.6 percent on reduced demand. Men’s Wearhouse operates 1,285 stores under the Men’s Wearhouse, Moores, K&G and MW Tux banners.

Le Château: sales up; new chairman Le Château reported a 6.4 percent increase in total sales for the first seven weeks of the second quarter, with same-store sales up two percent compared to the same period last year. On a year-to-date basis, Le Château’s total retail sales increased 2.1 percent and same-store sales decreased 1.8 percent compared to the same period last year. To date, the company has opened nine new stores and expanded six existing locations, resulting in the addition of 57,000 square feet and bringing its total floor space to 1.022 million square feet. Net earnings for the first quarter increased 33.3 percent to $5.6 million from $4.2 million, while sales rose 0.3 percent to $70.6 million. The company named Jane Silverstone Segal as its new chairman. Silverstone Segal, currently CEO, replaces Richard Cherney, who was appointed non-executive chairman of the company in February 2007 after company founder Herschel Segal stepped down. Both Cherney and Segal remain as directors.


Canada’s first Diesel store opens in Montreal With the opening of the first Canadian Diesel store on de la Montagne in Montreal customers will have the opportunity to purchase Diesel’s wide-ranging products, including the Diesel Black Gold male and female collections, in one place. The 7,000-sq.-ft., two-floor store houses Diesel, Diesel Kids, shoes, accessories, watches, sunglasses and denim. Diesel Black Gold debuted in February 2008 and is available at the new Montreal store. The exclusive collection consists of formal pieces adorned with detailing and special treatments. Diesel is headquartered in Molvena, Italy and is now present in more than 81 countries with 5,000 points of sale. Info:

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Lord & Taylor in Canada? Lord & Taylor may be considering opening stores outside the U.S., possibly in Mexico and Canada. Chairman Richard A. Baker, head of the private equity firm that owns Lord & Taylor, NRDC Equity Partners, said the 47-store chain might thrive in foreign countries given its focus on American designers like Joseph Abboud and Charles Nolan. Baker said no foreign openings were imminent, but that he had recently traveled to both Mexico and Canada. A foreign venture would be the latest chapter in Lord & Taylor’s turnaround over the last decade.

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Click and grow Cyberspace represents a profitable new channel of distribution for suppliers and a dynamic opportunity to establish brand recognition By Marsha Ross


ow often do you purchase clothing on the web or decide where to shop and what to buy online? A whole new breed of online shopping junkies literally “let their fingers do the walking” up and down their keyboards, buying ever increasing amounts of consumer product, including apparel, online and researching their next purchase electronically. Statistics tell us that e-tail sales are climbing in the double-digit area and as many as 93 percent of retail buying decisions are facilitated by web research before the consumer ever enters a store. Internet-driven sales in the fashion industry are currently influenced primarily by informative, well-designed e-tail web sites. Suppliers need to become part of the e-tailer/consumer relationship or they will lose a valuable opportunity to influence buying patterns. Leo Green, of Boutique Jacques in Montreal, was an early convert to online marketing and sales. He, along with brother Harry, launched in 1999 to give existing customers more opportunity to purchase their product. Not only did they develop a whole new market for their tailored men’s clothing, but they had a blast doing it. Leo recalls with a smile “All of a sudden, the world became our marketplace”. Boutique Jacques has been selling menswear for over half a century. When Leo’s father, Jacques, emigrated in 1951 from Holland, where he sold made-to-measure couture to customers that included Queen Wilhelmina, he could hardly have anticipated the Internet. After working as a designer at Progress Brand and Aquascutum in Montreal, Jacques opened a small shop on Cote des Neiges in Montreal in 1958. His hallmark then was quality and personalized service and that is still what brings businessmen, athletes and politicians into the current 3,600-square-foot store, still on Cote des Neiges, which he operates with sons Leo and Harry. While transplanted customers, many of whom are now in Toronto, Western Canada and the U.S., were regularly dropping in on visits to Montreal, Leo visualized the pioneering website as a service they could use from their new homes. Instead he found that, while most Canadians still wanted the in-store coddling they were accustomed to, there was a whole new market online stretching across the United States, South America, Europe, and the Middle East. “Some customers are understandably just not website material,” he says. “They want to touch



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On the floor at Boutique Jacques, L-R, Jacques Green and sons Harry and Leo

and feel, see and try, and they like to be waited on. But others like the impersonal nature of the web and the convenience of being able to shop any time any place. They may find it easier to compare prices or they may prefer to make their purchase quickly without the pressure of a salesperson hovering nearby. Still others live far from good shopping opportunities or need unusual sizes that are easier to find online.” Search engines opened up a new world for the Greens. “We were priced in Canadian dollars and Americans, with their strong currency at that time, couldn’t believe the quality, the price and the convenience we were offering.” Anecdotes from those early days abound. A fisherman in Unalaska, Alaska — part of the Aleutian chain, a stone’s throw away from Russia — needed an odd-sized suit for his imminent wedding. It arrived just in time. UPS must have called on their dogsled team to deliver that one. A Finnish man ordered a tie but was uncomfortable with providing his credit card informa-

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tion online. “He asked us to put it aside and said he would send the money,” Leo remembers. “About a month later, we got an envelope stuffed with Canadian dimes and nickels and a single $5 bill. We still don’t know how he collected them.” And perhaps least forgettable, “Do you know how I found out about 9 -11?” Leo asks. “I was on the phone with a customer in New York who wanted to order a blazer. Suddenly he shouted “Oh my god! I’ll call you back.’ He had just seen the first plane hit the World Trade Center. He did call back and, as we were talking, he looked out his window and saw the second plane hit.”

The web offers valuable opportunities to suppliers The ExecStyle team sees the worldwide web as an efficient marketplace where retailers can access rapidly growing marketing channels and showcase their products to the consuming public — and as an opportunity to brand themselves.

M ar k eti n g

Green emphasizes that the opportunity offered by web marketing is even more compelling for the manufacturer/distributor than for the retailer. The distributor has the opportunity to add value to his brand in the consumer’s mind, to provide persuasive arguments for purchasing his product, and to guide the consumer to his distribution channels. “Effective execution of these strategies is money in the bank,” says Green. Suppliers, he adds, should run, not crawl, to avail themselves of the opportunities awaiting them online. “Determine who is talking to your demographic,” says Leo. “Create alliances with them and don’t just rely on historical models to drive business to your products online. The web is all about being able to focus in an entirely new way on your target consumer. Don’t wait for the e-tailer to do it for you. He may find it advantageous to drive the business to your competitor. Work closely with your e-tailer and give him reason and opportunity to promote your product. It can be a partnership in the truest sense. “Talk to your e-tailers; find out what they need. As a minimum, make good product images and product descriptions available to them. On your site, direct consumers to your e-tailer list. Make sure that bloggers are talking about your product. Ensure that your product ranks high with the search engines when a generic search is made.” If the ExecStyle team is any indication, the websavvy e-tailer is a marketing tiger, always hunting for new opportunity. Their website design is driven by highly informative statistics that monitor consumer behavior. The acquisition of new customers is a measurable science to them, not the hit or miss situation offered by traditional media advertising. Suppliers who forge relationships with them connect with the “93 percent of adults who regularly or occasionally research products online even if they intend to actually buy them in a store.” (National Retail Federation). “Pricing is an issue that has to be carefully considered in the online marketplace. Damaging brand status by price-cutting is ultimately in no one’s interest. Give your e-tailers the opportunity to offer purchase incentives to a private list. That can be an excellent opportunity for a supplier to clear excess inventory. “Collaborate with your e-tailer. Develop marketing strategies and opportunities together. React to the demands of this evolving marketplace: review your sizing structure, consider altering your supply chain, look at your colors, adapt your advertising to the reader, and so on. Remember that online marketing is in its infancy. In fact, we should consider www as the abbreviation for the Wild Wild West not the World Wide Web, so stay close to it,” Green concludes.

How do you connect with consumers online? Opening online is different from setting up a store with a sign above the door, product in the window and an ad in the newspaper. What brings customers to a retail site? And what can the etailer do to connect with his particular target? Some online contacts have already shopped at the “bricks and mortar” operation and have en-

tered the name into a search engine or browser. Or they may be looking for a generic product by using keywords like “suits” or “tailored separates” or “dress shirts.” Others search for a specific brand, like “Calvin Klein” or “Ralph Lauren,” and are redirected from the supplier’s site to ecommerce sites. E-tailers rely on search engine optimization (SEO) to influence the Google algorithm and place high on Google’s search results. E-tailers also purchase ad words — those blurbs at the top or right hand side of a page. Advertising opportunities, including banner ads, pay per click, and link exchange, abound on the Internet, Leo points out. More time-consuming, but often more effective, is engaging your demographic in blogs and social networks in discussions you control. Here you have the opportunity to put “viral marketing” to work.

Profile of a successful e-tailer • Recognizes that building confidence online is key to a successful site • Constantly analyzes consumer behavior and adjusts site accordingly • Fulfills orders from his own warehouse or through drop shipments by suppliers or third party processors • Works closely with suppliers and creates a team environment • Makes every effort to understand the psychology of the customer • Scientifically assesses advertising effectiveness on a regular basis

“The concept behind viral marketing is the provision of interesting, funny, or useful content on behalf of the company. Although the content may or may not be directly related to the company’s product line, viral marketing harnesses human curiosity and the light-speed spread of online information. In fact, communication giants such as YouTube and Facebook, as well as clothing companies like Lululemon and Levi’s Jeans, saw monumental growth through the use of viral strategies. The concept simply encourages the movement of information exponentially from one individual to two to four to 16 and so on.”

Out of the box Both supplier and e-tailer need to think out of the box. “One of the things we’ve discovered,” says Green, “is that most menswear sales, online or instore, are generated by women.” Wives frequently call to say their husband ‘needs a sport jacket.’ In the store, we see their influence on about 60 percent of sales. When the lawyer in Manhattan sends in an order at 10 p.m., it’s probably because he just finished discussing his wardrobe with his wife over dinner. “ Green sees this as an obvious opportunity to extend the website to women. “We are currently


looking for good branded womenswear suppliers to feature on our site,” he says. “It’s a natural. The woman already trusts the site for her husband. She will be equally confident in shopping for herself — and in most cases women buy more clothing than men. “We’re also looking for collateral product for add-on sales. It could be accessories or golf wear or whatever. The market is already there; we just need to find additional ways to serve it.”

Pros and cons What Green particularly likes about e-tail vs retail is that selling on the web is scientifically and psychologically focused. “You have to wrap your head around your target market and think of new ways to speak to it. We are always A/B testing and doing statistical analysis,” he says. “If you show a product two different ways to two randomly chosen groups of customers, you can quickly assess which alternative yields the best result.” “While it’s harder to build loyalty with the web customer, customer service is still key,” Leo says. To that end provides an 800 number that connects directly to the store, where the customer can have his questions answered by someone who really knows clothing rather than by a disinterested voice from a cubicle somewhere in India or the Midwest. He, his brother and experienced employees look over each order and contact the customer if they don’t think it makes sense. And then there was the man in Seattle who ordered a blazer in size 56 extra-tall. When he discovered that was based in Montreal, his first reaction was, “Wow! I hear you have the best bagels in the world!” Guess what he found in the ziplock bag delivered with his blazer? Custom-made suits are a recent addition to the site. The pitfalls are obvious, but the site provides detailed instructions for taking measurements and staff look over all orders for obvious errors. A demonstration video to show customers how to take perfect measurements is in the works. “One customer sent in an order for five or six suits,” says Leo. “I went through his measurements, made some adjustments and called him to suggest that he order only one suit the first time. If it fits perfectly, I told him, then we will be happy to fill the rest of the order. He called back after the first suit arrived and I believe we now have a customer for life. Achieving longevity on the Internet has a lot to do with acquiring the trust of the consumer. Customer satisfaction is key to our success. “Currently, our best customer of all time was acquired through He lives in Texas, browses our site regularly and buys tons of merchandise,” says Leo. “We’ve talked on the phone many times and he has sent pictures. He’s a really satisfied customer.” For both retailers and suppliers, cyberspace is a fascinating opportunity to expand market reach and reinvent your business. It takes skill and creativity but it represents a valuable tool at every level of the supply chain. n Info: Contact Leo or Harry Green at (514) 737-1402 or


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Global Supply Chain Finance UPS Capital links the physical and financial supply chains, promising benefits to buyers, suppliers and financiers


hile many Canadian apparel companies continue to find the financing they need at traditional banks, others are seeking alternative sources of funding. “What we’re seeing is not so much as move away from banks as it is a movement toward Asset Based Lenders (ABLs) on the part of companies that are smaller, newer, or unable to meet the covenants required by the banks,” says David Schachter, of Canadian Apparel Credit (CAC) credit bureau, ACA (collection agency) and Targeted Asset Recovery (TAR). Whereas banks will typically lend a company 10%-20% on inventory, ABLs may offer 40%60%. Banks may extend a loan worth 80% of the company’s under-90-days receivables; ABLs will go up to 90%. “The ABL will look at the same assets as the bank but will give you more cash,” Schachter says. “The downside is that it will also charge a higher interest rate. If a bank is asking prime plus 2%, the ABL will likely want prime plus 3-4%. “Smaller, newer or more marginal companies and those that don’t have backup resources are

forced to go to areas of financing that are a little more expensive. Greater risk; greater cost.” Given that major banks are reluctant to take on risk these days, the growth and variety of ABLs is inevitable. “The numbers tell us that asset based lending has grown in recent years even though there are fewer apparel companies in Canada,” says Schachter. “We have to conclude, therefore, that fewer companies are going to the bank for their cash flow problems.” The longer, more complex, higher risk global supply chains created by low cost sourcing can cause financial institutions to reduce a client’s available capital, which creates cash flow issues. The longer supply chain can also cause inventory visibility problems that make it difficult to collateralize a borrower’s receivables, offshore goods and in-transit inventory. Enter UPS Capital and its Global Asset Based Lending program, which offers a portfolio of solutions based on UPS’s ability to provide control, visibility and information over the movement of goods. The services aim to improve cash flow, reduce working capital constraints, inject capital sooner and at critical points along the supply

Improving cash flow conversion By Ray Reulbach and Brian Cronin


upply chain executives face a daunting task: How to exceed the expectations of clients and deliver the product on time, while balancing costs and inventory levels? The economic value of the supply chain is maximized when the flows of the financial supply chain are aligned with those of the physical. Corporations are realizing the benefits of a synchronized supply chain that combines the flows of goods, information, and funds to bolster their bottom line. This shift occurred as globalization elongated the supply chain, creating a strain on cash flow. An elongated supply chain requires companies to seek ways to improve their cash conversion cycle, a metric that expresses the number of days a company takes to convert resource inputs into actual cash flows. It measures the amount of time each net input dollar is tied up in the production and sales process before it is converted into cash. This metric looks at the amount of time needed to sell inventory, the amount of time needed to collect receivables, and the length of time the company is given to pay its bills without incurring penalties. Large companies are often able to work with financial service firms to secure additional capital during a cash flow shortage or supply chain disruption, but it’s more difficult for smaller companies.



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chain, and enable a lender to provide financing where traditionally it was unavailable. Since the Canadian government lifted the restriction that required lenders to have an established financial services business in Canada, UPS can now engage in cross-border activity, providing funding on behalf of a U.S. or European buyer or supplier. “We look at both ends of the supply chain,” says Chris Vukas, senior managing director of UPS Global Supply Chain Financial. “We look at the financial condition of either one of the parties in a transaction. The only condition is that we are moving the goods. “If we take control of the goods in China,” says Vukos, “we can provide visibility and liquidity in China and en route. In effect, we have constructive ownership: we can evaluate the goods in China, bring them to the ultimate destination and provide financing from inventory to receivables to cash.” UPS Capital has offices in the U.S., U.K., Hong Kong, Taiwan and Shanghai. n For more information, click onto

“Happy Feet,” a U.S. retailer of orthopedic footwear, recently discovered that. The company develops, markets, and sells orthopedic footwear, selling its products in the United States through a number of distribution channels. For the past 10 years, its footwear has been manufactured in China and transported from the factory to the port of Yantian in China with Free On Board (FOB) payment terms. The final destination is Happy Feet’s distribution center in the United States. This physical supply chain is made up of many legs operated by different providers. The main focus was purely tactical – get the finished goods to the United States in the fastest and cheapest way possible.

The problem Like many small businesses dealing in international trade, Happy Feet found itself dealing with cash flow issues. Under its current payment terms, Happy Feet was essentially paying for the goods prior to leaving China. An ocean container moved from China to Happy Feet’s U.S. distribution center in 30 to 45 days. Demand for Happy Feet’s product was growing so quickly that back orders were accumulating during the transit period, which resulted in up to 60 percent of the ocean container being sold before its arrival at the distribution center. Once the goods arrived, Happy Feet incurred extra shipping costs by selecting Next Day Air and Second Day Air services to reduce transit time on back-orders. Happy Feet invoices its customers on the day the goods leave their distribution center, and they have standard 30-day payment terms. This equates to an approximate 75-day gap between the time the company pays its supplier and the time it receives payment from its customers. continued on page 15



EDC: more than just credit insurance Although EDC is best known for its Accounts Receivable Insurance, it also offers a range of other financial solutions, some of which are designed specifically for both first-time and small exporters.


any entrepreneurs realize that if they want their businesses to reach full potential, they need to grow beyond Canada and tackle foreign markets. Yet exporting can be a major undertaking. In addition to the time and money required to dream up, perfect and market new products, manufacturers must then be able to afford to produce them in large enough quantities at competitive prices to meet export demand. “This is especially true for apparel manufacturers who have been hard hit in recent years by the flood of cheaper imported goods,” says Scott Macdonald, Sector Advisor for EDC’s Light Manufacturing Team. “They’ve had to be innovative and flexible to weather the changes in the industry.” In 2007, EDC insured close to $995 million in export sales for about 500 Canadian apparel companies against non-payment by foreign buyers. Today, more and more of these companies are starting to take advantage of other trade-related support such as guarantees and financing. “Even though we are starting to get the word out that we offer a great deal more than insurance, it’s obvious we need to do more to promote EDC’s full range of services,” Macdonald says. “We are working closely with the Canadian Apparel Federation to ensure that their members are aware of the solutions that we can provide.” Cathy Beauvais, EDC’s Small Business Manager, says products such as Single Buyer Insurance, Export Express Credit, Financial Security Guarantees and the Export Guarantee Program are becoming increasingly popular with smaller exporters. One myth that Beauvais deals with constantly is that EDC focuses mostly on big business. “Exports represent a significant share of the Canadian economy. Yet the vast majority of our customers are smaller companies,” explains Beauvais. “Due to Canada’s small population, our domestic market is simply too small for many emerging businesses. As a result, many strive to boost sales in other countries. However, they often find that arranging the financing they need to do this is easier said than done.” According to Beauvais, effective financial management is crucial for small businesses. “Many entrepreneurs think that booking sales is the most important task in any business,” says Beauvais. “But that’s not the whole story. Being able to finance the production of the goods to supply the buyers, and then ultimately getting paid for those sales is important too.” Many entrepreneurs are unaware of the many tools that are available to help them accomplish this.

Canadian Apparel Federation partners with EDC to boost exports CAF has entered into an agreement with Export Development Canada (EDC) to better serve Canadian apparel companies that export their products around the world. EDC and CAF have worked together for many years to assist Canadian apparel exporters seeking to export their goods to global buyers. This longstanding relationship has been elevated to a new level through the recently signed agreement. One of the unique features of this agreement has been the recognition by EDC of the value of credit information available to Canadian apparel exporters through Canadian Apparel Credit (CAC), a credit bureau closely affiliated with CAF. In an effort to simplify and improve service levels provided to Canadian apparel exporters by EDC, the CAC credit reports can now be used to establish credit limits for domestic and foreign buyers under EDC’s Account Receivable Insurance policies. “During global economic slowdowns, credit information is a vital piece of the exporting puzzle, and today’s agreement with CAF provides for timely and sector specific information that is of direct benefit to Canadian apparel manufacturers,” said Eric Siegel, CEO of EDC.

Export Express Credit According to Marc Beaulieu, Manager, Small Business Sales, one of the best examples of EDC’s commitment toward these companies is Export Express Credit, launched last year. Export Express Credit is an unsecured loan of up to $50,000 that is offered to small businesses that generate less than $5 million a year in sales and that need a credit facility to help them export.

Single Buyer Insurance Another EDC program of interest to occasional exporters is Single Buyer Insurance. This policy covers goods shipped to a customer over a six-month period, valued at up to US $250,000. “Many small businesses export from time-to-time but are simply unwilling to tackle the paperwork related to certain types of insurance policies,” says Beaulieu. “Single Buyer Insurance is a particularly practical risk management tool because the process is simplified, and once insured, the foreign accounts receivables can often be used as security for a line of credit with the exporter’s bank.”

Financial Security Guarantee One of the most challenging obstacles apparel companies face when sourcing their products from sub-suppliers in Asia, says Macdonald, is

Export Development Canada works hard to support the Canadian apparel sector and to understand the unique needs and special challenges faced by the industry. EDC is Canada’s export credit agency, offering innovative commercial solutions to help Canadian exporters and investors expand their international business. EDC’s knowledge and partnerships are used by nearly 7,000 Canadian companies and their global customers in up to 200 markets worldwide each year. EDC is financially selfsustaining, is a recognized leader in financial reporting and economic analysis, and has been named one of Canada’s Top 100 Employers for seven consecutive years. For more information on Export Development Canada please visit or contact Scott McDonald, Sector Advisor, Light Manufacturing, Export Development Canada at (613) 597-8939 or For more information on Canadian Apparel Credit (CAC) please contact David Schachter at (800) 561-8921 or

posting stand-by letters of credit which, in turn, ties up their working capital. “To help resolve this issue we can provide a Financial Security Guarantee which replaces the collateral usually required to secure operating lines of credit with foreign banks or letters of guarantees for suppliers, regulatory bodies and others.”

Export Guarantee Program The Export Guarantee Program is also an excellent tool for smaller exporters, says Beauvais. By providing a guarantee to a company’s financial institution, the Export Guarantee Program helps them access additional financing to support export-related activities and/or foreign investments. For example, the guarantees can be provided on new loans to finance work in progress or inventory related to an export contract or to finance the purchase of equipment. “This financing gives businesses an important tool to help them fulfill export contracts,” explain Beauvais. “Businesses that have access to the Export Guarantee Program can then use their existing lines of credit to invest in even more contracts. That way everyone comes out a winner.” n For more information about how EDC can help apparel manufacturers, please call Scott MacDonald (613) 597-8939 or email


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F i n a n ce

2008 Financial Services Survey ACA Collection Agencies

Bain Capital, LLC

Canadian Apparel Credit

Equifax Canada

When referring your accounts to a receivable management firm it is important to have confidence in the financial stability of the agency. We pride ourselves on the confidence that companies throughout Canada and the U.S. have placed in us over almost two decades.

Established in 1984, Bain Capital is one of the world’s leading private investment firms whose affiliates manage over $78 billion in assets. The investment activities of Bain Capital’s affiliates include private equity & venture capital as well as long/ short public equity, credit products and global macro hedge funds. Our competitive advantage is grounded in a peopleintensive, rigorous investment approach.

Credit Bureau for the apparel industry. Affiliated with the Canadian Apparel Federation.

Credit reporting service.

605-345 Victoria Ave. Montreal, QC, CA H3Z2N2 T: (514) 483-6223; F: (514) 483-3755

o Credit Information/Collections

Accord Business Credit Inc. 1803 - 77 Bloor Street West Toronto, ON, CA M5S 1M2 T: (416) 961-0007; F: (416) 961-9443

Serving the apparel industry for 30 years, Accord Business Credit is Canada’s oldest and largest accounts receivable outsource company. We guarantee payment of your accounts receivable, provide collection management service and on-line record keeping. Domestic, cross-border, and overseas. o Factors and Asset-based Lenders o Other Financial Services

Active International

90 Burnhamthorpe Rd W Mississauga, ON, CA L5B 3C3 T: (905) 273-8040 o Other Financial Services

Alain Houle & Assoc. Inc.

4542 Oxford Avenue, Montreal, QC, CA H4A 2Y8 T: (514) 481-1328; F: (514) 481-8420 Consultants in matters of worker’s compensation (CSST). Financial services and human resources training. o Other Financial Services

Amerimark Capital Corporation 545 E. John Carpenter Frwy - Suite #200 Irving, TX, US 75062 T: (214) 638-7878; F: (972) 719-9174

Amerimark Capital Corporation is a Merchant and Investment Banking Firm specializing in Corporate Finance, Mergers, Acquisitions and Valuations. We serve private and public companies ranging in size from $5 million to over $300 million in annual sales. You will find the information presented concise and informative. It focuses on key issues facing senior executives in today’s challenging business environment. o Other Financial Services


Suite 310 - 1 City Centre Drive, Mississauga, ON, CA L5B 1M2 T: (905) 897-5959; F: (905) 897-8659 Atradius offers solutions to meet your specific needs. We operate world-wide and can therefore offer tailor-made credit management solutions for businesses in every country. Whether looking for general or local services, Atradius is the way to success.

111 Huntington Ave Boston, MA, US 2199 T: (617) 516-2524; F: (617) 516-2525

o Other Financial Services

Bibby Financial Services (Canada) Inc.

1 City Centre Drive, Suite 315 Mississauga, ON, CA L5B 1M2 T: (905) 949-8300; F: (905) 949-3646 BFS provides accounts receivables and purchase order financing to apparel companies and your service providers by advancing up to 90% of the value of your invoices. BFS also provides collection and credit services, and 24-hour online access to your account and as a part of our comprehensive funding program. o Factors and Asset-based Lenders o Other Financial Services

BMO Bank of Montreal

9150 Boul de L’Acadie Montreal, QC, CA H4N2T2 T: (514) 382-2123; F: (514) 382-1415 o Banks/ Lending Institutions

Buscemi, Goodman, Legault Inc.

201 - 6700 Côte de Liesse Montréal, QC, CA H4T 1E3 T: (514) 256-9299; F: (514) 256-2016


o Credit Information/Collections

Canadian Commercial Corporation

50 O’Connor St., 11th Floor Ottawa, ON, CA K1A 0S6 T: 1-800-748-8191; F: (613) 995-2121 The Canadian Commercial Corporation (CCC) is a Crown corporation of the Government of Canada and acts as Canada’s international contracting and procurement agency. Through its wide-ranging experience in delivering international contracting and procurement services to foreign government buyers, CCC ensures secure and transparent access to Canada’s export capabilities. o Other Financial Services

Children’s Credit Co-op Inc.

P.O. Box 720184 Atlanta, GA, US 30358 T: (404) 303-9776; F: (404) 303-9056 Manufacturers Credit Co-op for US childrenswear industry. o Other Financial Services


1155 René-Levesque Blvd., West - 3rd Floor Montreal, QC, CA H3B 3Z4 T: (514) 876-2214; F: (514) 876-2022; (514)-876-2374 o Banks/ Lending Institutions

Commercial Collection Corp. of NY

Consultants and Brokers. They provide Group and Life insurance, Annuities, Mutual Funds. They are the local rep. of AMIQ/CAF Ins. Plan. Consultants et courtiers d’ass.-vie et services financiers.

34 Seymour St. Tonawanda, NY, US 14150 T: 800-873-5212; F: 800-873-5211

o Credit Insurance/ Other insurance Products

o Credit Information/Collections

Business Development Bank of Canada (BDC) 400 - 5 Place Ville Marie Montreal, QC, CA H3B 5E7 F: 1 877 329-9232

BDC provides small and medium-sized businesses with flexible financing, affordable consulting services and venture capital. BDC supports the needs of entrepreneurs at every stage of growth. o Banks/ Lending Institutions o Other Financial Services

o Credit Insurance/ Other insurance Products o Other Financial Services


605-345 Victoria Ave. Montreal, QC, CA H3Z2N2 T: (514) 483-6223; F: 800 461-0496

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Collection service.


1009 - 555 Chabanel West Montreal, QC, CA H2N 2H8 T: (514) 850-0646; F: (514) 850-0653 Creditfax is a service agency specializing in commercial credit invesigations and commercial collection service in Canada and the United States.

o Credit Information/Collections

ERA Canada - Expense Reduction Analysts

135 Ballantyne North Montreal West, QC, CA H4X 2B9 T: (514) 991-4502 ERA Canada and its Associates monitor market prices and the performance of vendors in all cost areas in which they work. ERA Associates are responsible for providing up to date intelligence about their areas of specialty to the ERA information system and regularly reviewing the market intelligence, and product and service information held by the system. o Other Financial Services

Euler Hermes Canada

1702 - 1155 boul. René-Lévesque O. Montréal, QC, CA H3B 3Z7 T: (514) 876-9656; F: (514) 876-9658 The Euler Hermes group helps companies of all sizes, wherever they trade, to safeguard and grow their business. Our extensive range of credit management solutions is supported by our uniquely powerful knowledge of financial strength of companies and markets. o Credit Insurance/ Other insurance Products o Other Financial Services

Export Development Canada (EDC)

151 O’Connor St. Ottawa, ON, CA K1A 1K3 T: (613) 598-2500; F: (613) 598-2780 Export Development Canada (EDC) is Canada’s export credit agency, offering innovative commercial solutions to help Canadian exporters and investors expand their international business. EDC’s knowledge and partnerships are used by 7,000 Canadian companies and their global customers in up to 200 markets worldwide each year. EDC is financially self-sustaining and is a recognized leader in financial reporting and economic. o Banks/ Lending Institutions o Credit Insurance/ Other insurance Products o Other Financial Services

Fédération Desjardins 1 complexe Desjardins Montreal, QC, CA H5B 1B2 T: (514) 281-7000

Deloitte / Mintz & Partners

The largest cooperative financial group in Canada with 5 million member-owners, Desjardins is proof that a cooperative organization can be sound and profitable. Values such as equity, solidarity and social responsibility are what set Desjardins apart from other financial groups who must answer to their shareholders. Desjardins Group instead puts money at the service of its members. That’s the Desjardins difference.

Chartered Accountants. Provide a full range of professional services.

o Banks/ Lending Institutions

o Credit Information/Collections

1 Concorde Gate, Suite 200 North York, ON, CA M3C 4G4 T: (416) 391-2900; F: (416) 391-2748

o Accountants

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110 Sheppard Ave East Toronto, ON, CA M2N 6S1 T: (416) 227-5290; F: (416) 227-5394

F i n a n ce


2008 Financial Services Survey Fonds de Solidarité (FTQ)

545 Crémazie est, Bureau 200 Montréal, QC, CA H2M 2W4 T: (514) 383-8383; F: (514) 850-4824

JC Clark Ltd.

130 Adelaide St West - Suite 3400 Toronto, ON, CA M5H 3P5 T: (416) 361-4536; F: (416) 361-0128

Société de capital de développement pour les entreprises québécoises, qui offre un REER avec des avantages fiscaux supérieurs. Le Fonds de solidarité FTQ contribue par ses interventions au développement économique du Québec en investissant dans tous les secteurs d’activités de l’économie.

JCClark is an investment management firm providing highly specialized investment vehicles to affluent investors and sophisticated institutions with a minimum investment of C$2 million.

o Other Financial Services

Heller Salois & Tellier

425 St-Sulpice Montréal, QC, CA H2Y 2V7 T: (514) 288-5252; F: (514) 288-7479

o Other Financial Services

o Factors and Asset-based Lenders o Other Financial Services

o Credit Insurance/ Other insurance Products o Other Financial Services

Jebco International Corporation

Price Waterhouse Coopers

TCE Capital Corporation

#3500, 1250 boul René-Lévesque ouest Montréal, QC, CA H3B 2G4 T: (514) 205-5000; F: (514) 938-5709

707 - 505 Consumers Road Toronto, ON, CA M2J 4V8 T: (416) 497-7400; F: (416) 497-3139

Accounting and Management consultants

TCE Capital strives to be the preferred supplier of receivables to growing Canadian business. Leader in Invoice Discounting/ Factoring, advancing over $250 million annually. Provider of financial services, including asset-based lending. Provides working capital and SR&ED tax credits facilities . 48 hour response to a financing application. Competitive rates and same day advances. Additional financing available based inventory, equipment and real estate equity. TCE Capital is a funder, not a broker. We work closely with our clients, their Banks and suppliers. Our only business is funding yours.

6700 Cote de Liesse - Suite 402 Montreal, QC, CA H4T 2B5 T: (514) 341-9788; F: (514) 341-4431

o Accountants

Millennium Credit Risk Management Ltd.

Foreign exchange related services.

o Factors and Asset-based Lenders

Laurentian Bank of Canada

1981, McGill College avenue, Suite 1660 Montreal, QC, CA H3A 3K3 o Banks/ Lending Institutions

195 - 955 Green Valley Crescent Ottawa, ON, CA K2C 3V4 T: (613) 226-6677; F: (613) 226-6013 Credit Insurance broker.

o Other Financial Services

o Credit Insurance/ Other insurance Products o Other Financial Services

Hill, Gertner, Mimran, Nayman

Montcap Financial Corp.

828 Richmond St. W. Toronto, ON, CA M6J 1C9 T: (416) 955-7775; F: (416) 703-8752 Merchant Banker

o Banks/ Lending Institutions o Other Financial Services

HSBC Bank Canada

70 York St., Toronto, ON, CA M5H 3E5 T: (416) 868-8000; F: (416) 868-8110 The leading international bank in Canada, and a wholly owned subsidiary of HSBC holding providing financial services in 78 countries and territories. o Banks/ Lending Institutions

Jardine Lloyd Thompson Canada

600 de Maisonneuve Blvd. West Suite 2720 Montreal, QC, CA H3A 3J2 T: (514) 908-1891; F: (514) 908-1995 Jardine Lloyd Thompson Canada (JLT) is a leading risk management, insurance and employee benefits specialty brokerage firm. o Other Financial Services

5520 rue Paré Montreal, QC, CA H4P 2M1 T: (514) 737-3434; Fax: (514) 737-8585 Specialized in insuring the apparel industry for over 40 years. A multidisciplinary firm which offers a wide range of insurance products.

Asset based lender.

250 Montgomery Street San Francisco, CA, US 94104 T: (415) 678-2770; F: (415) 773-1822

Suite 806 - 94 Cumberland Street Toronto, ON, CA M5R 1A3 T: (416) 345-0032; F: (416) 352-5169

Seymour Alper Inc.

Prividor of Working Capital to small & medium sizes apparel manufacturers & distributors through use of Invoice Discounting.

Law firm specialising in licensing, trademarks, proprietary rights protection, financing, leasing, labour relations, customs and excise, general litigation and general and international commercial transactions. Firme d’avocats spécialisée dans l’émission de licences, marques de commerce, financement, location, relations de travail, douanes et accises, litiges et transactions commerciales, générales et internationales.

HIFX Risk Management

Prescott Thackery Merchant Group Ltd.

3500 de Maisonneuve W. Suite 1510 Montreal, QC, CA H3Z 3C1 T: (514) 932-8223; F: (514) 932-0076 Montcap provides financing on accounts receivable, as well as financing for inventory, purchase orders, equipment, real estate and the granting of letter of credit facilities. Their capabilities are tailored to provide flexible solutions for clients poised for growth or with unique opportunities such as acquisitions, turnarounds and management buyouts. o Factors and Asset-based Lenders

Nexia Friedman

500 - 8000 Décarie Blvd. Montréal, QC, CA H4P 2S4 T: (514) 731-7901; F: (514) 731-2923 We are a full service chartered accountant’s office specializing in the apparel industry. o Accountants

Piper Jaffray

800 Nicollet Mall Minneapolis, MN, US 55402-7020 T: (612) 303-6000

o Accountants

Roll Harris & Assoc.

550, 4141 Sherbrooke St. W. Montréal, QC, CA H3Z 1B9 T: (514) 933-2791; F: (514) 933-2470 A full service professional accounting firm that understands your needs, has shared your experiences, and is focused on problem solving. Entreprise de comptables agréés offrant une gamme complète de services professionnels. Nous comprenons vos besoins et nous apportons les solutions à vos problèmes. o Accountants

o Factors and Asset-based Lenders o Other Financial Services

Teeger Schiller Inc.

RSM Richter

1820 - 2 Place Alexis Nihon, Montreal, QC, CA H3Z 3C2 T: (514) 934-3400; F: (514) 934-3408 Founded in 1926, RSM Richter is one of the largest independent accounting, business advisory and consulting firms in Canada. Our ability to help owner-managed organizations anticipate and meet complex challenges is why we are still the firm that means business for entrepreneurs. Innovation is the key to our approach, combined with the ability to generate results quickly. RSM Richter offers a full range of advisory and consulting services, supported by in-depth industry knowledge and national and international experience. o Accountants


555 Chabanel St. W. Montréal, QC, CA H2N 2H7 T: (514) 385-2428; F: (514) 384-7010 Financial institution specializing in imports (letters of credit) foreign exchange, investments and other services related to the apparel industry. Institution financière spécialisée en matière d’importation (lettre de crédit) échanges commerciaux, investissements, et autre services pour les intervenants de l’industrie du vêtement.

304 Richview Avenue Toronto, ON, CA M5P 3G2 T: (416) 480-0832; F: (416) 480-0962 Our firm is dedicated to the Apparel and Textiles industries. We provide both Cost Savings Services and Systems Consulting Services. We offer SR&ED, CANtex, Recoupment Audit Services amongst other Cost Saving Services. Our Systems Consulting division offers “hands on” professional services to help apparel and textile companies implement and effectively utilize business information systems. o Other Financial Services

Third Eye Capital

Brookfield Place, TD Canada Trust Tower Toronto, ON, CA M5J 2S1 T: (416) 601-2270; F: (416) 981-3393 An innovative private debt fund providing a variety of financing solutions to Canadian businesses who operate domestically or internationally. o Factors and Asset-based Lenders

o Banks/ Lending Institutions

Piper Jaffray & Co. is a leading, international middle-market investment bank and institutional securities firm. We serve the needs of middle-market corporations, private equity groups, public entities, nonprofit clients and institutional investors.

continued on page 15

o Other Financial Services


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Mentoring Program T

he Apparel Human Resources Council (AHRC) believes implementation is as important as planning when it comes to a company’s success. So, in an effort to help companies implement new strategies, the Council engaged Milstein & Co Consulting Inc to develop the Canadian Apparel Mentoring Program (CAMP). “The industry is changing to a more specialized and niche market focus and the needs and skill sets of managers and workers are changing,” said Jean Rivard, executive director of the Council. “At the same time, the industry has lost many jobs and something has to be done to retain and transfer years of knowledge and experience to those that remain and to a new generation of entrepreneurs.” “The original one-on-one mentoring project to help companies implement a plan has evolved into so much more,” continued Alan Milstein. “The mentoring program is now being designed to help Canadian students, start-ups and small and medium-size enterprises launch or successfully grow their businesses. It aims to accomplish this by linking entrepreneurs with experienced mentors and by providing tools, training, networking opportunities, consulting and links to much needed resources. Since the program is fully funded by the Government of Canada’s Sector Council Program, there is no cost for participation.

Programs to suit various stages of development

Results for mentees Rivard and Milstein cite success stories from similar programs, stating that most mentoring programs report: • Higher business startup survival rates • Higher sales growth than average for the economy • Higher job growth than average for the economy • Improved business skills • Improved retention and performance among employees

Why become a mentor? The role of the mentor is to help the mentee step back and see the big picture. A mentor listens, challenges, motivates, coaches, offers advice and helps a mentee network. Mentors act as sounding boards and, as such, are not expected to provide more than one hour per month to their mentee. Additional consulting is available. “It’s a feel-good experience,” says Milstein who is also volunteering his time to be a mentor. “We sometimes fail to see how easy it can be to have a positive impact on someone. It’s also part of networking. You never know how these contacts can come back to benefit you in the future.” A pilot project launched in May had a high response rate. “Many of the requests to be a mentee are coming from the West,” says Milstein, “while

Five programs have been designed for those needing assistance. Depending on the need, assistance will be provided through consultants or mentors. • Student Mentoring: Those wishing to learn about starting a business or finding employment in the apparel industry are mentored by an apparel executive; • Business Trainer Program: Those who are starting or have recently started an apparel company can be mentored by an industry consultant to help develop the plan and by an apparel executive to help implement the plan and build a network. • Business Accelerator Program: Companies that need to revisit their strategic plan are mentored by an industry consultant in setting a strategic direction. • One-On-One Mentoring Program: Companies that have a viable strategic plan in place can get mentoring from an executive to help implement it and build an industry network. • Advisory Board Program: Companies that have a viable strategic plan in place and want more structure and, multi-disciplinary advice are mentored by three to five executives in the functional areas of their choice through structured quarterly meetings.



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prospective mentors are coming from Toronto and Montreal.” Mentees are most often requesting assistance in business planning, financial planning, sales and marketing. “We have basically repositioned training activities to put them directly into companies,” says Rivard. “No classrooms, no lectures – you learn on the job and grow your company at the same time.”

The challenge of the match Matching mentee and mentor is critical to the process. An approval process has been developed involving an application form for both followed by individual phone calls to ensure that candidates are right for the program and to assess potential matches. To help support the process, a robust online portal is being constructed, training materials have been developed, as have matchmaking and mentoring processes. A detailed skills database is being built to facilitate the matching process.

What’s next? The pilot program is expected to run through the summer and fall, after which it is expected to be rolled out to the entire industry. “ n For more information about the mentoring program, contact Jean Rivard at 514-388-7779 or or Alan Milstein at 514934-2112 or

Financial Toolkit The Apparel Human Resources Council has also mandated Milstein & Co Consulting Inc to build an Entrepreneurial Toolkit to provide assistance to both newcomers and established companies. Once completed, the Toolkit will consist of a series of modules on topics such as: Starting an Apparel Company; Strategic Planning for Established Companies, Operations, Finance, Human Resources and Sales and Marketing. “The Financial Toolkit covers a lot of ground,” says Alan Milstein. “When we work with startups, we’re often starting at ground zero when it comes to finance and accounting. As a result, the Toolkit starts off with the real basics: when and how to work with a professional accountant; understanding the basic terminology; setting up a chart of accounts that is typical for apparel companies; and basic bookkeeping. It then gets a little more sophisticated: how to analyze financial statements; how to work with some of the most common financial statement ratios; and how to identify profit drivers in your business. “At the end of the day, it’s all about generating cash in a sustainable way and it takes money to make money. So we included sections on improving the cash flow cycle and preparing cash flows. The Toolkit then provides guidance for those seeking additional financing. It discusses various financing options: working with a traditional bank; other sources of public financing; other sources of private financing; and guidelines when preparing to meet financial lenders and investors.” The Financial Toolkit is currently in draft form and available to participants in the pilot mentoring program. It, along with all the other modules of the Entrepreneurial Toolkit, are expected to be available on the Apparel Human Resources Council website this winter. The initiative is subsidized by the Government of Canada’s Sector Council Program and is available to the industry free of charge.

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F i n a n ce

2008 Financial Services Survey

Improving cash flow conversion — continued from page 10

The root of Happy Feet’s problem was the cash flow constraint. The traditional way of dealing with this is to borrow against the goods while they are in transit up to when they are sold to customers. This type of loan is only applicable when the goods are domiciled within a jurisdiction that allows the lender to perfect the lien.

The solution UPS Capital focused on transforming Happy Feet’s tactical and reactive supply chain into one that is strategic, lean, and agile. It worked closely with the company to engineer a unique global supply chain finance solution that leveraged ocean container financing and UPS Supply Chain Solutions transportation services. • I. Flow of goods UPS Capital engaged its sister company, UPS Supply Chain Solutions (UPS SCS), to re-engineer the physical transportation of the goods. The first step was to replace the multiple transportation vendors and use UPS Ocean Freight services. Managing the end-to-end shipment provided UPS with control of the goods and UPS Capital to offer financing of the in-transit inventory. • II. Flow of information With the goods now flowing through the UPS Ocean Freight network, both Happy Feet and UPS Capital gained access to critical information regarding key transportation milestones. • III. Flow of funds A synchronized supply chain is achieved when the flows of goods, information, and funds are seamlessly intertwined. Happy Feet was able to achieve this by using UPS Ocean Freight services to provide control of the goods and visibility. When UPS Capital offered ocean container financing to Happy Feet, the solution was complete. UPS Capital is willing to finance goods overseas or in transit if the goods are in the UPS network. Because UPS Capital receives detailed visibility into the disposition of the goods from their company, it can confidently lend against these goods. UPS Capital has enabled Happy Feet to begin to make full payments to its Chinese supplier 24 to 48 hours after the goods leave China.

Results Happy Feet realized a number of benefits from the new arrangement: It • Improved relationship with its Chinese supplier • Reduced transit time between China and its distribution centre by more than 10 percent. • Gained shipment visibility, allowing it to communicate and commit to delivery dates.

Toronto Dominion Canada Trust

Veracap Corporate Finance Ltd.

Financial institution providing a wide range of financial products and services, whether credit or non-credit related, in order to meet commercial and personal clients’ needs. Institution financière qui offre une variété de produits et services financiers, pouvant répondre aux besoins de credit ainsi que non-reliés au crédit, tant à la clientèle personnelle que commerciale.

Veracap Corporate Finance serves the needs of owners, executives and directors seeking to enhance the value of their businesses. To us, value enhancement represents more than what a business is worth at a point in time. It also encompasses proactive strategies to maximize business value over the duration of ownership, and to achieve the monetary and non-monetary objectives of the stakeholders involved.

999 Boul. de Maisonneuve Ouest Montréal, QC, CA H3A 3L4 T: (514) 289-8165; F: (514) 289-1662

o Banks/ Lending Institutions

TradeCard Inc.

70 University Avenue - Suite 320 - Box 11 Toronto, ON, CA M5J 2M4 T: (416) 597-1198; F: (416) 597-9779

o Banks/ Lending Institutions o Other Financial Services

75 Maiden Lane, 12th Floor New York, NY, US 10038 T: (212) 405-1800; F: (212) 405-1801

Wachovia Capital Financial of Canada

We Automate Trade Transactions From rocurement Through Payment. Buying and selling globally is complex, but TradeCard makes it easier - and cheaper. TradeCard is a secure new way to manage procurementto-payment worldwide: buyers, sellers and partners connect to a hosted, paperless platform. Processes are visible. Innovative financial services unlock savings. Cash flows improve. No capital expenditure required, creating near-term ROI.

Wachovia Capital Financial of Canada is the country’s leading asset based lender, providing operating lines of credit and term loans to medium and large sized compagnies for refinancings, recapitalizations, acquisitions, divestitures and turnarounds.

o Other Financial Services

UHY Victor

Suite 400 - 759 Victoria Square, Montréal, QC, CA H2Y 2J7 T: (514) 282-1836; F: (514) 282-6640

1500 - 141 Adelaide Street West Toronto, ON, CA M5H 3L5 T: (416) 364-6080; F: (416) 364-6068

Zwaig Consulting Inc.

20 Adelaide Street East Suite 801, P.O. Box 53 Toronto, ON, CA M5C 2T6 T: (416) 863-5795; F: (416) 863-0428 o Accountants o Other Financial Services

Chartered Accountants firm. A wide range of client services are provided in both domestic and international markets to the apparel industry, including accounting, taxation planning, and management consulting. Comptable agréés. Un large éventail de services est offert à l’industrie du vêtement dans les marchés intérieurs et internationalx dont les services de vérification comptabilité, planification fiscale et conseils en gestion. o Accountants

Ray Reulbach is director, Global Supply Chain Finance, for UPS Capital, the financial services arm of Atlanta-based UPS. Brian Cronin is associate director, Global Supply Chain Finance, for UPS Capital financial institutions.

When it comes to clothing, everyone has an opinion. What’s yours?

For further information, contact Steve Chmura at (404) 828-7056 or

Send your letters to:

• Minimized the time and effort it took to communicate with multiple logistics providers by having a single point of contact. • Increased cash flow and accounts receivable, which had a positive impact on its cash conversion cycle. n



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Need help in structuring your exports? Expertise and funding are available


By Gerald B. Horn


or many years I have worked with Canadian exporters looking to break into the U.S. market or to expand their existing market share. Key among the tasks performed was how to structure the transactions themselves to take advantage of both the customs and tax issues that exist when goods are imported into the U.S. from Canada and elsewhere. Helping to ensure that companies paid the least amount of Customs duties and balancing that with paying the least amount of taxes on those transactions has always been the goal. When transactions are properly structured, the duty and tax savings can be quite substantial. It is a myth to consider a weak dollar a competitive advantage. Exporters have to acknowledge that the unpredictable economy that affects the currency exchange rate is an external factor over which they have no control. At the same time, with the Canadian dollar currently trading essentially at par with the U.S. dollar, exports of Canadian-made products to the U.S. have become

more and more expensive. Also, the overall weakness of the American dollar has affected Canadian companies that deal, not only with Canadianmade goods, but goods made elsewhere, which are then imported into the U.S. All of this has the potential to cut deeply into profit margins. For companies first beginning to export to the U.S., some of these issues may appear insurmountable. When margins are so tight, how can one afford to spend the money that it takes to properly structure both the tax and Customs elements of the export transactions? At least for apparel companies located in Quebec, there may be a partial solution. Through its PRO MODE program, the province of Quebec has made available $82 million for the apparel and fashion industry to use to implement over the next three years its strategy to assist these Quebec companies in developing business models geared towards providing them with the tools to make their foray into exports a successful one. Approximately $15 million is available to help develop business models and for promoting the export sales. Hiring experts on structuring your




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exports to, for example, the U.S. is among the items for which funding is available. In order to encourage Quebec manufacturers/ exports to take advantage of this program, the process has been made relatively simple. An application describing the tasks to be undertaken is filed with an agent of the Minister of Economic Development, Innovation and Export Trade for review. If approved, the funds are made available directly to the applicant. With markets being so tight, now is an especially good time to take advantage of the funds that are available to help companies develop their export marketing strategies. Not only is the funding available, but the expertise in developing a comprehensive export strategy is also there for the asking. Combining the two can help you to penetrate export markets in an intelligent and cost-effective way. n If you would like further information about this funding program and/or if you have any questions about how it may apply to your business, contact Gerald B. Horn ( at (212)Â 883-1300.

Outlook: Womenswear Spring/Summer 2009



Season overview


Color: weatherboard pastels • Pastels continue to accelerate as they lose their twee connotations and are revitalized with a dirty washedout edge. • Pretty color washes becomes mulched when applied to unbleached bases. • Staining paint effects

Fabrication: disrupted

Trends and photos: WGSN

• All fabrications have a visible surface structure, be they ordered, micro and controlled or erratic, irregular crumpled surfaces. • Warp and weft are disrupted creating diffused, softened weaves.

Tailoring: sensuality • Feminine tailoring comes into its own • Shape and drape transform the body without the need for the accepted constrictions of men’s tailoring. • Traditional tailoring techniques are utilized for a softer more curvaceous cutting aesthetic.

Dresses & Tops Parachute dress • Parachute silhouette inspiration • Strapless • Giant pleats for volume • Ruffle hem


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Dresses & Tops Viktor & Rolf

Dolly housecoat • Dolly silhouette inspiration • Printed coatdress • Upside-down collar and lapel • High-lustre satin bow necktie • Empire line • Apron patch pockets

Poppy dress • Poppy silhouette inspiration • From the poppy silhouette • Petal-like layers • Overlaid sleeve and tiered construction • Horseshoe neckline

Rue du Mail Gaultier

Knit & Jersey Bedouin shrug silhouette inspiration • Inflated padded effect and striped tubular hood • Finely striped sandwich-trim details for interest • Circular shrug shape with integral sleeves • Tape knit in woven-look crochet structure • Waist length with deep pull-on rib to fit



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Trends and photos: WGSN

Rubber-ring hoodie shrug



Coats & Jackets Teddy boy waistcoat • Soft A silhouette inspiration • Cropped swing silhouette • Drape jacket collar creates a ‘50s feel • Oversized metal grommets • Soft, stonewash denim

Stella McCartney



Summer swing mac

Slouchy tailored jacket • Tired tailoring silhouette inspiration • Masculine cut with a lived-in feel • Dropped shoulders • Single-breasted, double-buttoned • Narrow revers, high notched • Rolled-up sleeves • Two-pocket flaps


Trends and photos: WGSN

• Swing silhouette inspiration • Flat-pack-inspired slot-in collar tip detail • Sleeve volume is folded and stitched at cuffs • Purposeful sagging/relaxed, peg-bag pockets • Large thread-covered buttons

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events AUGUST 2008 Accessorie Circuit The Show Piers, New York City 08/03-05/2008




Coterie/The Mezzanine

Atlanta Apparel Mart, Atlanta 08/16-19/2008

Las Vegas Convention Center, Las Vegas 08/25-27/2008

Paris Expo - Porte de Versailles hall 7 niveau 1, PARIS 09/04-07/2008

The Show Piers, Javitz Center NYC, New York 09/16-18/2008

Atlanta Womens & Childrens Market


Prêt À Porter Paris (PAPP)

Milano Unica

Javits Center, New York 08/03-05/2008

AmericasMart 3, Atlanta, GA, Atlanta 08/16-19/2008

Las Vegas Convention Center, Las Vegas 08/25-27/2008

Paris Expo, Porte de Versailles Hall 7, Paris 09/04-07/2008

Milano Unica, Milan Fair Grounds 09/16-19/2008


The Seattle Gift Show

Moda Las Vegas


Penn Plaza Pavilion, New York 08/03-05/2008

Washington State Convention & Trade Center, Seattle 08/16-19/2008

Venetian Hotel, Las Vegas 08/25-27/2008

WSN Developpement, Paris 09/04-07/2008

Palazzo delle Stelline Exhibition Center, Magenta 61 - MILAN 09/17-19/2008

New England Apparel Club (NEAC)

PGA Fall Expo

Mode city

Mandalay Bay Resort & Casino, Las Vegas, Nevada, Las Vegas 08/25-27/2008

Paris Expo – Porte de Versailles Halls 3 & 4, Paris 09/06-08/2008 (514) 861-5668


Interfiliere Paris Expo

100 % Fresh Show

Mandlay Bay Convention Center, Las Vegas 08/25-27/2008

Paris Expo, Porte de Versailles, Halls 2 & 3, Paris 09/06-08/2008

Toronto Congress Centre, Toronto 09/21-23/2008

Printsource at MAGIC

Salon Expo-Mode Ste-Foy

Las Vegas Convention Center, Las Vegas 08/25-28/2008

Hotel Clarion, Ste-Foy 09/06-09/2008 (418) 872-3178

Hotel Québec, St-Foy 09/21-25/2008 (450) 965-9795


Exhibition Hall, Place Bonaventure, Montreal 09/07-09/2008

Childrens Club

FAME Tradeshow Jacob Javits Center, NYC, NY, New York 08/03-05/2008

Intermezzo Collections The Show Piers, New York City 08/03-05/2008

Lingerie Americas - New York Altman Building and Metropolitan Pavilion - 135 West 18th Street, New York City 08/03-05/2008

Moda Manhattan Jacob Javits Convention Center, New York 08/03-05/2008

Designers & Agents Show Los Angeles

Royal Plaza Trade Center & Hotel , Marlboro 08/17-20/2008; 09/09-10/2008

Dallas Mens & Boys Apparel Market Dallas Market Centre, Dallas 08/17-19/2008

Off Price Specialist Show Sands Expo & Convention Center, Las Vegas 08/23-26/2008

ASAP Global Sourcing Show Venetian Hotel, Las Vegas 08/24-27/2008

Las Vegas Convention Center & Las Vegas Hilton, Las Vegas 08/25-27/2008

Global Eco Show

WWIN Show - Womens Wear in Nevada

The New Mart Building, The Cooper Design Space, 860 S. Los Angeles Street 08/08-10/2008

Venetian Hotel - Grand Ballroom, Las Vegas 08/24-27/2008

Rio Resort Hotel or Mandalay Bay Hotel,Las Vegas, NV 08/25-28/2008

The New Mart

Montreal Gift Show


Place Bonaventure, Montreal 08/24-27/2008

The Venetian Ballroom at The Venetian Hotel, Las Vegas 08/26-28/2008

The New Mart, Los Angeles 08/08-14/2008

STYLEMAX The Merchandise Mart, Chicago, Chicago 08/09-12/2008 stylemax/

Chicago Collective Merchandise Mart, 8th floor Market Suites,, Chicago 08/10-12/2008

Mode Accessories Show Doubletree International Plaza Hotel, Toronto 08/10-12/2008

Printsource New York 18th Floor/Penthouse - Hotel Pennsylvania, New York City 08/12-14/2008

Sourcing at MAGIC Las Vegas CONVENTION CENTER, Las Vegas 08/24-27/2008

Accessories The Show Venetian Hotel, Las Vegas 08/25-28/2008

CurveNV The Venetian , Las Vegas 08/25-27/2008

KIDShow Las Vegas

Project Las Vegas Sands Expo Convention Center, Las Vegas 08/26-28/2008

SEPTEMBER 2008 China International Footwear Fair, Moda Shanghai

Ballys Hotel, Las Vegas 08/25-27/2008

Shanghai New International Expo Centre, Shanghai 09/03-05/2008

Lingerie Americas at WWD/ MAGIC

Action Sports Retailer (ASR)

Las Vegas Hilton, Las Vegas 08/25-27/2008

San Diego Convention Center, San Diego 09/04-06/2008


Ontario Fashion Exhibitors Inc. Toronto Congress Centre, Toronto 09/20-23/2008




Paris Le Bourget, Le Bourget 09/22-25/2008

Premiere Vision Paris Parc dExpositions, Villepinte, Paris, Villepinte 09/23-26/2008

Alberta Fashion Market Northlands Mart, , Edmonton 09/11-15/2008

BC Fashion Week

Trends the Apparel Show

TBD - Vancouver, Vancouver 09/24-27/2008

Northlands Park Agricom, Edmonton 09/11-15/2008

The Clothing Show – Spring 2008


The Better Living Centre, Exhibition Place, Toronto 09/26-28/2008

Terminal Stores (Special Entrance) 28th Street (between 11th & 12th Ave), New York City 09/13-15/2008

The Train New York Terminal Stores - 269-11th Ave (bet. 27 & 28th Streets), New York City 09/13-15/2008

Salon Expo-Mode - Laval Quality Suites, Laval 09/14-16/2008 (418) 872-3178

The International Lingerie Show Rio Hotel, Las Vegas -Radisson Orlando & Universal Studios, Metropolitan Pavilion, NYC or RIO Hotel in Las Vegas, NV, Las Vegas 09/15-17/2008


Association des Représentants du Vêtement pour Enfants du Quebec (ARVEQ) Quality Suites, Laval 09/28-30/2008 (450) 965-9795

National Bridal Market Chicago Suite 8 - The Merchandise Mart, Chicago, IL, Chicago 09/29-30/2008 nationalbridalmarket/

LIVINGROOM TOKYO Yoyogi National Stadium, Tokyo TBD

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industry news

Peerless to aid Bill Blass relaunch Montreal-based Peerless Clothing will produce a range of items for the relaunch of the Bill Blass Men’s Collection after signing a licensing agreement with parent NexCen Brands. Bill Blass Menswear creative director Michael Bastian is designing the new collection of tailored clothing, including suits, sport coats, trousers, overcoats, raincoats and tuxedos. The new collection will be marketed to luxury speciality retailers in North America, and to selected international accounts. The licensing agreement runs from April 2008 to the end of 2013, with a five-year renewal option.

Cold Method expands Amsterdam-based Cold Method is about to enter the U.S. market with headquarters in New York in July 2008 and in Canada through a distribution partnership with Throat Threads Apparel in Spring 2009. The company is growing rapidly with 560 selling points spread over 14 countries.

Cold Method participated at the Magic tradeshow in February 2008 where it caused a stir with its approach towards affordable European fashion: a contemporary collection that focuses on T-shirts, denim, wovens, pants, knits, suits, cardigans, coats, accessories. The brand offerS 10 deliveries a year to keep the consumer excited and supplies basic style all year around. Recently, Cold Method expanded in China and Southeast Asia and is looking to open another 53 retails outlets over the next three years in China, Hong Kong, Macau and Singapore. Its first concession store will be launched at Selfridges in London in August.

Peter Millar licenses Forsythe for shirts and ties Better U.S. sportswear firm Peter Millar has licensed Forsythe of Canada to manufacture and distribute Peter Millar dress furnishing and neckwear. Peter Millar, which began in 2001 as a cashmere sweater company, expanded its line to include tailored clothing last November, licensing Empire Clothing of Canada.

FashionNorth cancels Montreal show Joseph Nutzati, president of Meteor Show Productions, has cancelled the summer edition of FashionNorth – The Menswear Show, scheduled to take place in Montreal, August 17 and 18. “This is a decision that we have reluctantly reached after very careful consideration of all the factors and challenges that the industry, and our economy, are presently facing, and the limited support the Show has received as a result,” Nutzati said in a press release. “We believe this is only a temporary setback. FashionNorth - The Menswear Show is still scheduled to take place in Toronto at The International Centre February 1 -3, 2009, contingent on receiving the necessary support from the Industry.” Info:

$115,000 in bursaries for Quebec students The Fondation de la Mode named David Gurberg, president and CEO of Utex Fashion Group, as its annual Guest of Honor and gave out study grants totaling $115,000 to promising fashion students at its 19th benefit evening, held recently at Montreal’s Palais des Congrès. Utex has been a member of the Quebec fashion industry for 65 years and remains an important player in outerwear markets throughout Canada and the United States. The company was among the first to source fashion outerwear in China and to introduce lightweight winter wear using down for warmth. The company manufactures labels including Utex, U&I, Jones New York, Perry Ellis, Massimo Moda Colleczione and Hilary Radley and Radley and maintains offices in Montreal and New York City. Bursary recipients included: • Isabelle Campeau, CEGEP Marie Victorin graduate, $9,000 to study at the Ecole supérieure de mode de Montréal. • Carolina dos Santos Reis, Ecole supérieure de mode de Montréal graduate, $10,000 to attend the Eindhoven Design Academy in the Netherlands. • Anne-Marie Durand-Laflamme, Ecole supérieure de mode de Montréal

graduate, $8,000 to begin a master’s at Concordia University. • Isabelle Giroux, student at the Ecole supérieure de mode de Montréal, $3,000 to complete a bachelor in fashion design and $5,000 for a 13week internship at Bless, in Paris. • Thai Huynh, LaSalle College graduate, $15,000 to study at Central Saint Martins College of Art and Design, London. • Renée Lacroix, second year student at the Ecole supérieure de mode de Montréal, $5,000 for a 13-week internship at Cycle, in Milan. • Camille Lavoie, student at the Ecole supérieure de mode de Montréal, $5,000 for an 11-week internship at Yuma Koshino Design, in Tokyo, • Anastasia Radevich, LaSalle College graduate, $15,000 to study at Central Saint Martins College of Art and Design, London. • Lenny-Pier Ramos, student at the Belgium Académie royale des beauxarts d’Anvers, $13,000 to continue his bachelor in fashion design. • Ran Sun, LaSalle College graduate, $12,000 to study fashion design at Domus Academy, in Milan. • Thomas Tait, LaSalle college graduate, $15,000 to attend Central Saint Martins College of Art and Design, London.

Directory of advertisers





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Page #



Apparel Human Resources Council




Euler Hermes




Mode City


R.B. Atlas


Teeger Schiller




Thinking of

hiring a

graduate ?

AHRC announces the new Apparel Career Focus Program:

Up to $12,750 in salary subsidy

The AHRC will financially assist manufacturers with up to $12,750 ! to hire post secondary school graduates, aged between 15 to 30, for positions in apparel manufacturing.

To ensure your candidate meets program eligibility requirements, please contact: Apparel Human Resources Council Marie-Ăˆve Dubuc, Projects Manager. Tel.: (514) 388-7779, ext. 103 Fax: (514) 388-6926

Funded by the Government of Canada's Sector Council Program


Advertising and Promotion Designer Human Resources Finances

Planning Marketing Network Administrator Sales Pattern Maker

Who in the world are you dealing with? Accord Serving the apparel industry for 30 years, Accord Business Credit is Canada’s oldest and largest accounts receivable outsource company. We guarantee payment of your accounts receivable, provide collection management service and on-line record keeping. Domestic, cross-border, and overseas.

Accord Business Credit Inc. Toronto, Montreal (or anywhere you’re calling from): 1 800 967 0015 Accord Business Credit Inc. is a wholly owned subsidiary of Accord Financial Corp., a public company listed on the Toronto Stock Exchange. (Symbol: ACD)

Canadian Apparel magazine  

Financial Services Issue