Home / Knowledge / News / Apparel/Garments / Turnover dips 5% at Global Brands in H1
Turnover dips 5% at Global Brands in H1
14
Aug '15
In its interim results announced for the six months to June 30, 2015, revenue at apparel marketer Global Brands dipped 5 per cent from a year ago period.

In the first half of 2015, Global Brands recorded turnover of US $1,282 million compared to US $1,349 million for the same period in 2014.

“The 5 per cent decline was the result of the tail end of the discontinuation of certain underperforming brands during 2014, which are not reflected in the Group's 2015 financials,” it said in a press release.

“Additional, the fall in sales came from the weakness in the European markets which was largely driven by a decrease in the Euro exchange rate,” the Hong Kong based company added.

Excluding the impact of these factors, turnover for the Group grew by approximately 6 per cent during the same period.

“In addition, Global Brands' business continues to be skewed towards the second half of the year due to back-to-school sales and a higher concentration of holidays during this period,” it informed.

CEO Bruce Rockowitz stated, “This summer, Global Brands marked its first anniversary as an independent listed company.”

“We continue to build on the solid foundation we have established as the partner of choice for American power brands in the affordable luxury space,” he too added.

“We have sharpened our organisational focus around our product categories, as we continue to improve our business mix towards higher margin areas while at the same time driving operational synergies, Rockowitz noted.

In line with previous years, Global Brands expects its turnover and profits will accelerate significantly in the second half of 2015, particularly given the skewing effect of seasonality on its business. (AR)

Fibre2Fashion News Desk – India


Must ReadView All

Digital textile printing sector to grow by 20% by 2020

Textiles | On 18th Jun 2018

Digital textile printing sector to grow by 20% by 2020

The digital textile printing sector is expected to have a compound...

Courtesy: Hela Clothing

Apparel/Garments | On 18th Jun 2018

Hela's latest label revolves around underwear, sleepwear

The latest collection of Sri Lanka’s Hela Clothing is revolves mostly ...

Kenya levies higher duties on mitumba import

Apparel/Garments | On 18th Jun 2018

Kenya levies higher duties on mitumba import

Kenya’s treasury secretary Henry Rotich recently raised the duty on...

Interviews View All

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

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

Leave your Comments


June 2018

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

news category


Related Categories:

Advanced Search