Featured SME – 20% discount on Hummel
for Beehive members only
About the offer
Founded in 1923, Hummel is a Danish footwear and sportswear brand with deep roots in football and handball. Though it is one of the oldest, most dedicated team sports brands in the business, Hummel, with its iconic chevrons, is well-positioned in sports fashion and training across all genders and categories like footwear, apparel, and accessories.
Brand Connection are offering Beehive members a 20% discount when shopping online with Hummel using the promo code BEE2021 valid till the end of December 2021.
About Brand Connection
Brand Connection Trading (BCT) was established in Dubai in 2017 with two experienced partners having 25 years of know-how in the sports and premium fashion sectors.
By 2021, BCT firmly reflect a fresh solid sports DNA identity, officially representing international brands like Fila, Hummel, Babolat, Diadora, iTouch, and dealing with major reputable online and offline retailers across the GCC and Africa.
Q&A with Hassan Moustapha
General Manager – Brand Connection
Why did you choose Beehive for your funding?
We wanted to have a smooth, hassle-free method of funding with reasonable market rates. The Beehive team and investors believed in our business plan, which materialized, and we have been growing exponentially year on year ever since.
What problem did the funding solve or improve?
Beehive’s Term Finance is a vital factor to allow start-up companies to grow their business portfolio with their key customer accounts. And with that, Beehive allowed us to focus on 80% of our key accounts covered by customer financing, while we invest part of our working capital into exploring new opportunities, markets, and channels.
How did you find the process?
Unlike traditional funding that usually takes months, we were able to receive the funds in a matter of weeks from the date of business plan submission through Beehive’s platform. The speed of service is essential for us as we work in the e-commerce sector dealing with all major regional e-comm platforms that demand fast supply turnaround time from their vendors & sellers.
Did COVID-19 affect your business?
COVID-19 has reshaped shopping behaviors as e-commerce attracts new users seeking to adhere to social distancing measures. The pandemic also reshaped retailer behavior, as more of them transfer to or enter an online commerce sphere.
Since BCT are well established in the online sector for years, we have seen a significant increase in our sales. Our brands and products are readily available across major online platforms with competitive prices, and we immediately witnessed a steep increase in customer spending online on sports gear/ activewear products by May 2020 as people trained and worked out at their homes during the quarantine periods. It translated with +43% growth end of 2020 growth versus 2019 despite the COVID-19 crisis.
What has been the biggest challenge throughout this period?
Covering our fixed overhead cost during the pandemic was a real challenge, plus managing our receivables and payables, along with the increased international freight or logistics.
How did you adapt?
We took the high risk of ramping up our inventory and stock mix in line with anticipated continued high demand. We reduced unnecessary fixed costs, streamlined our supply chain efficiently in response to the increased international freight from our global central warehouses in Hong Kong, China, Demark, and the U.S, and we put in place an aggressive price structure to compete with tier 1 players in the sports industry.
How are you operating now and how will you continue in 2022?
We have signed two new brands on board this year: Babolat, the giant French brand in Tennis and Padel Tennis world, and the heritage Italian brand, Diadora, is back on the world scene with the new fresh image positioning.
We went live with the Hummel online store serving all of the GCC markets, and we have seen excellent above-expectation sell-out results in the last three months.
We had also set up our local office in Cairo 2 months ago as we aim to cater to the needs of the Egyptian market with our existing and new brand mix.
What advice would you give to other businesses that are still trying to adapt to coronavirus?
Streamline your operations, stay cost-efficient, and focus on the basics!
About Featured SME Promotion