From an international fashion phenomenon to a strategic transformation, the story of BY FAR shows that behind a successful global brand stand not only creativity and strong design, but also a sustainable business model, the right partners and financing just in time.

Founded in Sofia, BY FAR has established itself as a producer of luxury shoes and handbags with a distinctive minimalist design. Within just a few years, the brand became a recognisable name on the global fashion scene. Its products are available on international platforms such as Farfetch, have been featured in the editorial selections of Vogue, Harper's Bazaar and The Face, and have been worn by global celebrities including Beyoncé, Kendall Jenner, Gigi and Bella Hadid.

In 2020, the company reached its peak sales, generating turnover of tens of millions of euros. This was followed by further steps in its international development, including the opening of physical stores in Los Angeles, Shanghai and Beijing.

Like many companies in the global fashion industry, BY FAR was affected by major market shifts in the following years - rising production costs, inflation, weaker consumer demand and difficulties faced by a number of international retailers.

Today, the company is entering a new stage of development under the leadership of By Far Group, owned by Krista Ruseva and investors. Ruseva has extensive experience in US hedge funds and retail transactions, while Eva Vucheva, former CEO of Fashion Days Group, has also joined the management team.

The new leadership team is working to stabilise sales, strengthen relationships with business partners and restructure the company with the aim of achieving sustainable development and restoring profitability.

“For the new stage in BY FAR’s development, we realised the need for a strong financial partner - one that understands the dynamics and specific nature of building and scaling a global fashion brand,” says Krista Ruseva.

At this key moment, the Bulgarian Development Bank provided the company with the financing it needed, securing working capital and supporting the implementation of its growth strategy.

“As a company in the fashion industry, we have a long and intensive production cycle, which affects cash flows. We invest in the creation of collections that reach the market after around six months, while under different payment terms, capital often remains tied up for a period of six to eight months. The strategic partnership with BDB allows us to manage this cycle effectively, while continuing to invest in creativity, quality and international expansion,” Ruseva explains.

Today, BY FAR follows a strategy based on smaller collections launched more frequently throughout the year, sustainable design and carefully selected materials. The brand’s latest collection follows the concept of 'Growing Young' and is aimed at customers seeking timeless style rather than short-lived fashion trends.

The company has built a community of more than 550,000 followers on Instagram and over 65,000 active email subscribers. Its next step is to expand its presence in the US market through the opening of a new logistics centre.

The partnership with the Bulgarian Development Bank gives BY FAR the financial stability it needs to pursue its long-term strategy and continue developing as a globally recognisable Bulgarian brand.

The company’s story is an example of BDB’s role as a partner to Bulgarian enterprises with international growth potential. By providing financing at key stages of their development, the bank supports businesses as they undergo transformation, preserve their competitiveness and unlock new opportunities on international markets.