In 2009 five founding directors came together and developed a business plan around the cooperative model of selling fairly traded products. Just 18 months later though, the Fair Traders Cooperative faced closure due to low sales volume, poor trading results and cashflow issues.
A new strategy and business model was required. The name was changed to Fair Trader to better engage with the target market and prevent confusion, the website was redesigned and a clean brand was developed that focused on core values.
The effects have been truly remarkable, with Fair Trader not only saved from bankruptcy but now making healthy profit. Since the rebrand, turnover has increased by 24.6% and investor numbers have increased 72%. The result is that the long hours put into the formation of the cooperative are being rewarded and deprived communities that Fair Trader supports around the world are benefiting.