Jun 16, 2016
Global Brands Group posts positive 15 mths’ revenue
Jun 16, 2016
Fashion apparel and accessories company Global Brands Group posted positive net revenue for the 15 months period, ended March 31, 2016, to $4.1 billion owing to macro environmental factors like a warm winter in North America, depreciation in Euro and exit from certain underperforming brands.
Core operating profit for the period was $75 million, while net profit was $25 million. Total margin posted for the period was $1,379 million or 33.5 per cent of the revenue. The margin continued its upward trend during the reporting period.
“During the reporting period, we continue to sharpen our focus on our key product categories and high-performing brands, while expanding our platforms where relevant,” Dow Famulak, president and COO of the company commented.
“Our kids category remains a highly successful franchise delivering consistently positive results, while our footwear and accessories business also performed well, particularly our key footwear brands,” he said.
“We made excellent progress with expanding the direct-to-consumer reach and increasing the product offering of our key controlled brands, such as Frye, Spyder and Juicy Couture. Under Seven Global, we extended the David Beckham brand to menswear product category through a partnership with Kent & Curwen, and recently to the men’s grooming category through a partnership with the premium men’s skincare brand Biotherm Homme,” he added.
Additionally, the group CEO and vice chairman, Bruce Rockowitz said, “Going forward, we expect our new licenses and brands will have a positive impact on revenue. We also expect the margin to continue its upward trend due to our emphasis on higher-margin businesses.”
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