A family-owned Bolton baby products manufacturer has secured its first export to Australia in 15 years.
Cosatto is shipping £130,000 of its bespoke baby products with the financial support of UK Export Finance (UKEF).
The business works with the University of Sussex’s Baby Lab to create colourful and engaging patterns that help young children to develop and already sells to retailers large and small in the UK as well as to distributors in countries like Japan.
However, when it came to arranging the insurance for a major deal with a distributor in Melbourne, the company's insurance broker would not cover the risk if the deal fell through.
Cosatto turned to UKEF, the UK’s export credit agency, which was able to step in with its export credit insurance scheme.
This enabled the business to export 300 prams, 750 strollers and 200 highchairs to another family-owned business.
The business now expects to turn over £14m this year.
Andrew Kluge, chief executive at Cosatto, said: "We’re incredibly proud of our business and of the way we’ve adapted this past year.
"Australia is an important market for us, and so was ensuring we could meet demand when the first door opened in years.
"Our unique products are backed by science, and continue to save the world from boring baby stuff - one happy child at a time."
Steve Cowles, UKEF export finance manager for North West England, added: "We are here to ensure businesses in the North of England have the funding and support they need to win contracts, fulfil orders and get paid.
"Cosatto is a strong family business that has managed to crack a competitive market, and this demonstrates the huge potential that lies in trading overseas."
Graham Stuart MP, minister for exports, said: "This is a prime example of how innovative British brands have the potential to go global with the right support.
"Exporting companies like Cosatto are more productive, create more jobs and pay higher wages, which is why we are radically changing how exporters access the government finance they need to sell to the world, allowing them to take full advantage of upcoming trade deals with countries like Australia."
