Home / Knowledge / News / Apparel/Garments / VLOV sees strong growth in revenue
VLOV sees strong growth in revenue
25
Nov '11
VLOV Inc. which designs, sources and markets VLOV-brand fashion forward apparel for men in the People's Republic of China, announced financial results for the three and nine months ended September 30, 2011.

• Net Sales Reached Record $16.0 Million
• Gross Margin 40.8%
• Adjusted Net Income $1.4 Million (Non-GAAP)
• Opened 7 VLOV Stores Bringing Total Company-Owned Store Count to 20
• Presented 2012 Spring/Summer line at Mercedes-Benz Fashion Week in New York City

Qingqing Wu, Chairman and CEO of VLOV, commented, "We are pleased to report another strong quarter of revenue growth. Since the beginning of 2011, we have continued to make important investments in our brand to further increase VLOV's brand equity and drive long-term growth. As the business continues to generate strong cash flow, we are increasing our spending on targeted advertising and marketing programs, which are being met with strong support from our distributors and resulting in significant year-over-years sales increases.

During the third quarter we presented at the Mercedes-Benz New York Fashion Week in New York City where we showcased VLOV's Spring/Summer 2012 collection. We believe this added level of exposure is invaluable as we strive to build awareness of the brand globally."

As of September 30, 2011, VLOV's products were sold by our distributors in 540 points of sales ("POS") throughout China, including counters, concessions, stand-alone stores and store-in-stores. Additionally, the Company owns and operates 20 stores in Fujian Province: 13 store locations that the Company acquired on June 30, 2011 and 7 additional stores opened during the quarter ended September 30, 2011. Fujian is one of China's wealthiest provinces and is home of the Company's headquarters.

Mr. Wu continued, "By increasing our presence in Fujian, we are able to give our customers direct access to our brand and to provide an effective model to our distributors. We plan to open additional stores in Fujian, further establish our brand through advertising, and most importantly, continue to provide our customers with fashion that embodies their success."

On November 1, 2011, Mr. Wu was awarded China Fashion Week's "Top Ten Fashion Designer Award" for the second consecutive year at the Mercedes-Benz China Fashion Week Spring/Summer 2012 held in Beijing. In addition to the two consecutive awards, Mr. Wu was awarded the "Menswear Design Award" for his 2010 Spring/Summer Collection in 2009 by the organizers of China Fashion Week.

Results for the three and nine months ended September 30, 2011 as compared to the three and nine months ended September 30,2010

Net Sales
Net sales for the three months ended September 30, 2011 were $15,955, an increase of 22.1% from $13,063 for the same period in 2010, while net sales for the nine months ended September 30, 2011 were $57,280, an increase of 17.8% from $49,105 for the same period of 2010.


Must ReadView All

Courtesy: American Silk Mills

Textiles | On 18th Oct 2017

Sutlej Textiles adds American Silk Mills to its portfolio

Sutlej Textiles and Industries Ltd (STIL) has announced the...

Arvind Limited executive directors Punit Lalbhai (left) and Kulin Lalbhai explaining the project to Gujarat chief minister Vijay Rupani. Courtesy: Arvind Ltd

Apparel/Garments | On 18th Oct 2017

Arvind to set up mega apparel facility in Gujarat

Arvind Limited, one of India’s largest textile to retail...

Cotton stocks accumulating everywhere outside of China

Textiles | On 18th Oct 2017

Cotton stocks accumulating everywhere outside of China

Global cotton stocks outside of China are expected to rise by nearly...

Interviews View All

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

October 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.3%
No
13.6%
Skip
9.1%

Total Votes: 66

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
60.6%
No
28.8%
Skip
10.6%

Total Votes: 66

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
84.8%
No
10.6%
Skip
4.5%

Total Votes: 66

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
74.2%
No
12.1%
Skip
13.6%

Total Votes: 66


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search