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.
Young Goat is a streetwear brand that partners with charities including Black Minds Matter, Off the Record and Second Step
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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.
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