The label managed to limit its 2020 sales shortfall to 10% and is bolstering its licensing strategy, announcing a new partnership for underwear and swimwear, two key categories, with Italian manufacturer Area B.
The California-based company, whose brand portfolio includes Cherokee, Hi-Tec, Magnum and Interceptor, has reported a 17% decrease in its third-quarter sales due to ongoing disruption caused by the Covid-19 pandemic.
Uniqlo owner Fast Retailing may have taken a 42% pandemic-linked hit in its latest year but it’s forecasting a 60%+ recovery in its operating profit in the current financial year that ends next August.
The brand ownership and licensing company announced a 22% drop in second-quarter revenues on Wednesday and outlined some of the challenges it anticipates that it will face as the coronavirus crisis evolves.
Made in collaboration with Tharanco Lifestyles, the initial range will launch nationally this fall, and will be available online and at outdoor and performance clothing retailers throughout North America.
In a year when the Hong Kong-based brand management group embarked on an ambitious restructuring program and had to face up to the disruptions caused by the Covid-19 pandemic, the company saw its revenue fall 29%.