Sourcing in Asia used to be a business that based its profitability on keeping the sourcing information secret from the rest of the world. However, increasingly with the digital revolution, globalization, and the high demand of consumers, these trade secrets have become open to everyone, forcing business to become faster, better, and to increase their services to become a one stop shop for international buyers. Companies that still rely on the “limited information” business model have resorted to becoming financiers on low margins to keep their sales and market share.
In an industry characterized by lightning speed trend changes and rapid production demand, lethargic production giants cannot survive. Such larger companies resorted to acquiring smaller, bootstrapped companies that have already trained their employees to meet the demand for speed and quality. Investors from Hong Kong’s most reputable firms like Li and Fung (Market Cap of $5.4 Billion) utilize this strategy, prodding interest in companies like International Sourcing Group, whose capabilities, infrastructure, and acumen are able to meet the consumers demand and remain ahead of the trends, ensuring millions in profits.
About a decade ago, co-founders Alex and Josi Fares envisioned invading the back end of the fashion industry, slashing middlemen, engaging with customers, and all out disrupting slow and costly production by taking the work in-house and relying on speed and innovation.
International Sourcing Group is a rare breed. Everything happens in house. They design, develop, trim, fit, and create whole collections right from the heart of the fabrics market in Guangzhou. Because of this dynamic process, they’ve piqued the interests of investors.
Conventional retailers are struggling in the fast fashion industry and International Sourcing Group is responding by joining forces, acting as a back end buying office to produce garments as fast, as reliable, and as trendy as Zara, H&M, or Topshop.
“Our environment is changing exponentially, mainly driven by exponential technologies and globalization. As a result, the world is becoming increasingly open and transparent and we are slowly moving from a world of scarcity to a world of abundance.” – Salim Ismail