Export Readiness Essay - 755 Words

Export Readiness Analysis 2XU is an Australian sports apparel company established in 2005, the firm employs 45 full time employees making the firm a SME (Small and Medium Sized Enterprise) (Global Execellance, 2013). The firm specialises in producing compression clothing in the growing international sportswear market, which is worth US$244 billion (Heathcote, 2013). 2XU began as born global, with goals to establish itself as a global brand from conception. These goals were achieved in 2007, with direct exports to distributors based in the United States. Since, 2007 the firm has established itself as a gloabal brand with exports to 57 countries world wide (Heathcote, 2013). A crucial aspect of 2XU establishing itself as an†¦show more content†¦Also 2XU, can leverage both their knowledge and expertise from their past exporting success to over come any potential competition they may face. 2XU’s success in past exports has developed the firm’s human resources expertise in establish the company in new markets, as well as attracting experienced employes from rival firms such as Adidas. The firms success has also gifted the company extensive capital to launch into new markets, with turnover reaching $70 million per year and attracting foreign investment from global company L Capital Asia. A daughter company of LVMH Moet Hennesy, the worlds largest luxury conglomerate. The firm has also taken great strides establishing it’s brand name, through a lucrative contract with the US marine corps and sponsorships of teams from the NFL, NBA, NRL, AFL and Super Rugby. Finally, 2XU’s ability to expand into 57 markets in just 7 years has allowed them to establish an effective distribution network, that can easily be adapted to include new markets. Therefore 2XU, has a vast number of both tangible and intangible resurces to fund any venture into a foreign ma rket. 2XU rapid rise in just nine short years, has shown that the top level management have run the firm with both a clear strategy and commitment. An example of this is the hiring of CEO Kevin Roberts a former Senior Vice President with Adidas and the investment from LVMH Moet Hennesy. AllShow MoreRelatedThe Economic Characteristics Of Hong Kong And The United States2095 Words   |  9 Pagesof import are Japan, followed by China and the United States. Major import commodities include oil, machinery, electronic equipment, iron and steel. The main destinations for exports are China, Hong Kong and the United States. 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