Case Study: State Cashmere achieves $4.5M in global eCommerce sales (projected $7.5M) with Payoneer

State Cashmere - Customer Case Study

State Cashmere, founded by Hao Rong after graduating Columbia in 2017, is a direct-to-consumer cashmere brand that sources product from origin and sells globally. As the business scaled, it faced challenges accepting international payments, managing tax liabilities and multiple foreign bank accounts, and securing working capital—especially during the off-season.

Payoneer’s Global Payments Service consolidated storefronts into one account, enabled multi-currency receipts and low-fee conversions, and let State Cashmere pay suppliers and agencies in local currencies; its Capital Advance provided off-season funding for inventory, marketing and product development. The result was reduced currency fees, smoother global expansion and strong sales growth—$4.5 million in 2018 and a projected $7.5 million in 2019.

State Cashmere

Hao Rong

Founder