Case Study: HMY Group achieves competitive pricing, transparency and freed-up credit lines with Kantox

Why HMY Group choose Kantox for their FX needs

HMY Group, the European leader in retail store fixtures with €440 million in 2013 revenue and operations in 65 countries, faced repeated frustration paying undisclosed spreads on foreign exchange (FX) transactions, depletion of credit lines covering FX costs, and the need for a clearer hedging strategy after costly fees related to an $18 million acquisition. To address these issues they moved away from their bank and chose Kantox as their FX provider.

Kantox implemented its FX services and hedging solutions to provide transparent, competitive pricing and reduce reliance on bank credit lines. As a result, HMY Group achieved more competitive pricing, greater transparency, and freed up credit capacity — improving their hedging capability and enhancing relationships with their banks by enabling more value-added business through Kantox.

HMY Group

Ignacio Sanchez

Head of Treasury