Young Goat improve their margins and take their message global with Airwallex
Find out how streetwear brand Young Goat reduced their import costs and took their brand to the next level with Airwallex.
COO and Co-Founder, Young Goat
“The bulk of our manufacturing is done in Portugal, so paying the manufacturers through Airwallex has actually been a dream. It’s so much easier and the exchange rate you get is incredible. It means I can do it on my own without getting a trader in.”
Young Goat is a streetwear brand with a difference.
Founded in Bristol by a group of university friends, Young Goat partners with charities including Black Minds Matter, Off the Record and Second Step, raising money to support young people with their mental health, whilst producing clothes that are designed to make them feel good.
From an idea dreamt up in a pub, Young Goat quickly developed into a global brand that sells in over 50 countries. With international suppliers as well as customers, they needed a global business account that would allow them to collect and send funds in multiple currencies without excessive fees.
Young Goat’s mission
The idea behind Young Goat is that anyone can be ‘the GOAT’, an acronym meaning ‘Greatest Of All Time’. For the Young Goat founders, calling someone ‘the GOAT’ was a way of lifting them up and giving them confidence.
With mental health issues on the rise at their university, the founders saw the difference that this simple affirmation could make to a person’s self esteem. Young Goat’s mission is to share this positive energy with their customers, helping them become the best version of themselves.
During Black History Month last year, Young Goat released a t-shirt with all profits going to Black Minds Matter. As well as raising money, Arthur hopes the campaign raised awareness about the great work the charity does.
Arthur knows firsthand how poor mental health can impact a young person’s life. “Good mental health is inherently linked to our brand identity,” he says. “Which is why I’ve always wanted to give back to mental health charities.”
How Young Goat took their brand global
Young Goat’s mission statement—that anyone can be the GOAT, no matter who they are or where they come from—encouraged the founders to take their brand beyond the UK. But international expansion inevitably came with some challenges.
The cost of fulfilling orders abroad was an early obstacle. Young Goat was designed to be an accessible brand, so the team didn’t want the cost of international trade to drive up their prices.
Paying international suppliers was proving costly when using high street banks, due to high FX fees.
Young Goat cut the cost of managing their money across borders with an Airwallex Global Business Account and passed those savings onto their customers, allowing them to keep their products affordable.
Young Goat can now accept customer payments in multiple currencies without forced FX conversions or high fees.
The business can convert currencies at our market-leading FX rates and save a significant amount when paying international suppliers.
This year, the team plans to expand their reach further, growing their product range and branching into women’s wear. They’re also hoping to get Young Goat products stocked in European shops, further building on their international success.
The global account for fast-growing businesses
Airwallex helps businesses like Young Goat push into new markets, without the associated costs and admin burdens that can come from trading across borders.
If you’d like to learn more about how Airwallex can help your business cut the cost of sending and receiving money abroad, you can sign up for free online.
See how our customers are finding Airwallex
"Airwallex have been a fantastic partner for Olsam Group as we grow our eCommerce brands to new channels and new markets. Their easy to use interface and integrations have been a joy for our finance team to use as we scale."
"For ME + EM, expanding into international markets such as the US has been our focus - and with Airwallex, we were able to use their local USD Global Account to collect from our Paypal US account, thereby allowing us to save 3% on each transaction. The process of working with Airwallex has been seamless - our suppliers get paid quickly, we have a dedicated Relationship Manager who has been really patient, helpful and quick to respond. I am keen to use their cards to pay for our ad spend in the near future to save further on our USD invoices."
Finance Manager, ME + EM
"We've had such a fantastic experience switching to Airwallex. Previously we were using a traditional bank to make all of our international transactions and they'd constantly lock us out of the account everytime we made a transfer, resulting in hours and hours of lost time on hold. Airwallex is secure, makes it super quick and simple to make and receive international payments."
Managing Director, Perspective Pictures
“We used to pay Stripe between $5,000 and $10,000 a month in conversion fees because most of our customers pay in dollars. Now we funnel that money into our Airwallex US dollar account, we don’t have to pay commission. We’ve saved more than $100,000 so far this year”
Founder and CEO, Brandbassador
"We love Airwallex! It has considerably eased our invoicing and payments to contractors around the world. Sending and receiving money is much faster and cheaper than before."
Co-Founder, Mobile Transaction
“We are so glad that we have found Airwallex! There are no hidden charges, they are quick to respond to any queries and we had the smoothest transaction with amazing support from the team continually.”
Supply Chain Executive, Miss Patisserie
"Our water solutions company, Dropterra (go.dropterra.com) has partnered with Airwallex since inception and it has been the best banking and payment partner a company can think of. International transactions are easy, secure, and fast, the technology is incredible and their client service fantastic! We look forward to growing and deepening our relationship with Airwallex!"