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Tom Tailor focuses on increasing profitability

March 25, 2014 (Germany)

With the publication of the Annual Report 2013 the TOM TAILOR GROUP confirms the preliminary figures for 2013, which were released on 18 February 2014. The Group furthermore announces the strategic objectives for the current year. The focus is particularly centred on increasing profitability and enhancing the premium quality of the BONITA brand. 
 
Highlights: 
- TOM TAILOR GROUP is driving forward distribution space expansion and growth of the TOM TAILOR brands
-BONITA: Focus on product and increase in quality of sales as well as profitability
-Sales of more than EUR 950 million and adjusted EBITDA margin of around 10% are targets for 2014
 
The above-average growth of TOM TAILOR over recent years is based on the commitment of a highly motivated team and a powerful platform for design, development, procurement and merchandising. 
 
We are thus going to transfer the success model of TOM TAILOR entirely to BONITA, in order to enhance the earning power of BONITA and significantly improve the profitability of the group, said Chief Executive Officer of TOM TAILOR Holding AG. 
 
Apart from expanding distribution space, the focus at TOM TAILOR is primarily on strengthening the TOM TAILOR brands. At BONITA, we will continue to transfer procurement to our own sourcing company and further expand our product expertise through our new design team. At the same time, we are going to centre our efforts more on sales quality rather than promotional activities. 
 
Systematic expansion of the TOM TAILOR formats
The Group will continue to modestly expand its controlled distribution areas in Germany as well as abroad. In due consideration of profitability, the company therefore intends to open around 70 new TOM TAILOR stores. In this context, the further expansion of the online business will play a crucial role. Beyond that it is planned to further expand business with Wholesale partners for the brands TOM TAILOR and TOM TAILOR Denim. Around 200 new shop-in-shop selling spaces are scheduled to open in 2014 along with 15 franchise stores for TOM TAILOR.
 
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Tom Tailor
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