Swix Sport AS is an internationally recognised Norwegian company that specialises in ski equipment and technical sportswear, selling to stores and distributers globally. Given the seasonal nature of their business, Swix face some related challenges such as fluctuating cash flows as well as having to account for foreign exchange rate fluctuations.
Swix products are distributed from their headquarters in Oslo and Lillehammer through subsidiaries in Sweden, Germany, the United States and Japan with sales to other markets handled through a network of suppliers.
“Where there’s snow, you’ll find Swix,” says Kjell Magne Sunde at Swix Sport. As Chief Financial Officer for a highly innovative company within the niche industry, one of the challenges Kjell Magne Sunde has to manage are deep seasonal fluxes and highly volatile FX markets. To stay on top of a fluctuating cash-flow while coping with unpredictable foreign exchange rates, the CFO needs a bank that truly understands his business – a bank he can trust, and rely on through ups-and-downs, and call whenever he wants.
“Our relationship with Nordea goes years back. I can call them whenever I want. I can have short lead time into the discussions. We don’t surprise each other. If I have a bad year, I call my prime contact in Nordea and say: “It’s not going so well this year”, and then he can go to his boss and be straight-forward, telling him, “I trust these guys – they’re not fooling around,” tells Swix’ CFO in the customer case story video below.
“This illustrates how we create value for our customers by delivering the right solutions. Our relationship with Swix also shows the importance of being open, honest and transparent,” says Jon Birger Tysnes, Head of Risk Advisory, FICC Norway.
Solid partnerships built on a personal, yet highly professional customer relationship lead the way to success. This video is a good example of just that, says Lars-Christian Kran, Head of Sales & Research, FICC Norway: “We have a long history and a very close relationship with Swix, and the fact that we are their only banking partner, and a highly trusted one, says it all”.
Watch the video, and see how Swix manages to overcome the deep valleys and high mountains in Lillehammer, and how important mutual trust and honesty is in a business partnership: “I can’t have a bank that runs off when it really matters. I need a bank that can fight my case.”
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