As leaders in the health and wellness space, Go Vita’s retail stores provide quality health products and expert advice to their customers. With a network of over 120 independently owned and operated outlets across Australia, the company’s financial needs are constantly evolving. Go Vita required a business finance solution to meet their growing number of suppliers, new products and stores.
Go Vita’s stores operate under a unique cooperative model. Each retail store is independently owned and operated. Go Vita has a warehouse and distribution centre in Sydney, with more than 50 registered suppliers on the Octet supply chain finance platform.
Supplier management and cash flow preservation: common retail finance roadblocks
Before partnering with Octet over 12 years ago, Go Vita had plans to expand their network of stores. But first, they needed a retail finance solution that would allow them to preserve their cash flow and grow simultaneously. And, importantly, they desired a more efficient way to manage and pay their increasing list of suppliers and bring new products to market.
“Our partnership with Octet has been really important,” says Ann Cattelan, CEO of Go Vita. “They have proven for over a decade to be the right partner for us. And we have big plans to ensure the continued growth of Go Vita.”
Octet is a key part of that growth.
A holistic approach to business growth
Octet partnered with Go Vita after meeting with the leading wholesaler and retailer in 2011 to discuss possible cash flow solutions. Harnessing Octet’s trade finance facility, the health and wellness brand continued expanding its stores nationwide, while preserving cash flow.
Importantly, having access to Octet’s supply chain management platform meant they could manage their extensive supplier network in a way that worked for them. Matthew Martorana, Octet’s Products and Services Manager, explains the solution.
“We offered Go Vita a product that assists with the growth of their business,” he says. “Their facility is available to them anytime, and they can transact easily and safely with trusted suppliers.”
As their credit limit and list of suppliers grow alongside their business, Octet’s trade finance facility adapts to their needs.
120 retail stores and more on the way
Today, Go Vita has more than 120 retail stores in Australia. In addition to expanding their physical and online reach, Octet has been instrumental in helping them stay competitive.
“When we launch new products, we’re working with large orders to bring these to market,” says Ann. “Octet has enabled that to more efficiently happen.”
“The Octet platform makes it easy for them to transact,” adds Matthew. “It’s safe and secure, and the facility is on hand whenever they need it.”
As Go Vita’s finance partner, Octet has witnessed the company’s continued retail network expansion and market share growth. Matthew shares his thoughts.
“Go Vita consistently utilises their Trade Finance facility, and we can see growth with their suppliers by way of the transactions put through our platform. This shows that the facility works for them and assists with their dynamic cash flow needs.”
An evolving partnership for future success
Go Vita continues to expand, offering further licensing and distribution opportunities across Australia, with an increasing array of health and beauty products. And as the company looks to the future, Ann reiterates that Octet will play an important role in their plans.
“We frequently discuss how the facility is going for Go Vita,” adds Matthew. “By listening to their needs at the time, we offer solutions to assist in any way we can.”
See your business flourish with a smart cash flow solutions
Searching for finance for a retail or wholesale business? Companies aspiring to grow or feeling limited by traditional lenders should consider the opportunities that a customised trade finance solution can open up to them.
For Go Vita, these cash flow solutions were integral to their ability to flourish in the competitive health and wellness retail space.
“A tailored Octet trade finance solution can take your business from one level to the next,” says Matthew. “It allows for efficiency and security in supplier payments, whilst helping to accelerate your business cash flow.”
Power your growing business
Disclaimer: The following comments are only our views and should not be construed as advice. You should act using your own information and judgment. Although information has been obtained from and is based upon multiple sources the author believes to be reliable, we do not guarantee its accuracy and it may be incomplete or condensed. All opinions and estimates constitute the author’s own judgment as at the date of publication and are subject to change without notice.