Home / Knowledge / News / Apparel/Garments / Panglobal CEO pleased with June performance
Panglobal CEO pleased with June performance
08
Jul '08
Panglobal Brands Inc will record its best quarterly sales revenue in the history of the Company, growing 85% over March 31, 2008.

Sales revenue for the three months ended June 30, 2008 totaled $5,500,000 versus sales revenue of $ 2,963,000 for the three months ended March 31, 2008.

Year to date sales revenue for the nine months ended June 30, 2008 totaled $8,584,000 versus $382,000 for the nine months ended June 30, 2007.

Panglobal Brands Inc currently has sales orders totaling $9,100,000, for deliveries to retail stores in its order backlog.

Scrapbook accounts for $3,400,000 of that total and SoSik and our contemporary divisions account for the balance of $5,700,000. Most of the order backlog is intended to be shipped during the four months to October 31st.

Our strategy has been to build a series of apparel brands, consisting of mainly women's apparel, and to build brand recognition by marketing our products to fashion conscious consumers who shop in boutiques and department stores and who want to wear and be seen in the latest and most fashionable clothing and accessories.

Our SoSik junior business has been our biggest seller this year and has recorded sales of over $4,000,000 for the quarter ended June 30, 2008 while building some major customer relationships including Charlotte Russe, Buckle and Forever 21.

Under the SoSik label, we design and market junior denim, t-shirts, dresses and sportswear. Our success in the juniors' business has reflected our ability to continually keep the products new, fresh and part of what is in fashion.

Panglobal Brands acquired the Scrapbook label in June and Scrapbook sales contributed approximately $1,100,000 toward the revenue increase for the quarter ended June 30, 2008.

The Scrapbook label is aimed at junior (teen and early 20's) contemporary markets and is known for its mix and match prints and comfortable knit fabrics.

Key customers for the quarter ended June 30, 2008 included Nordstrom, Delia's, and Top Shop (United Kingdom). Scrapbook products can be found at better department stores and boutiques.

Our contemporary divisions consisting of Hauteur Mynk denim, Nela and Haven dresses and Tea and Honey sportswear mostly started shipping recently and our sales-to date and open orders should contribute $2,400,000 in sales revenue for 2008.

The Nela and Haven labels design, merchandise and sell women's better dresses using Italian prints and related fabrics.

Tea and Honey designs, merchandises and sells women's mid-priced contemporary dresses. Tea and Honey is a more casual look for women with a vintage feel.

“We are very pleased with our performance during the last three months and with the build-up of open orders for future shipments.

Our products are gaining tremendous acceptance within the channels which we sell. With the addition of Scrapbook, we now have two brands in the junior market, which provides huge opportunities to cross-sell into multiple distribution channels.

Our diverse stable of brands has allowed us to achieve tremendous growth over our previous quarters and gives us the confidence that we will be able to continue to grow and meet our objectives,” said Stephen Soller, Chief Executive Officer of Panglobal Brands Inc.

Panglobal Brands Inc


Must ReadView All

Market share of Indian textile items expand in 13 nations

Textiles | On 11th Dec 2017

Market share of Indian textile items expand in 13 nations

Thirteen countries — Germany, France, Italy, the United States,...

Courtesy: EUBrasil

Textiles | On 11th Dec 2017

Euratex, ABIT welcome negotiations for EU-Mercosur FTA

European Apparel and Textile Confederation (Euratex) and the...

Most firms expect no change in investment plans: CII survey

Textiles | On 11th Dec 2017

Most firms expect no change in investment plans: CII survey

Despite visible optimism in Indian industry with the Confederation of ...

Interviews View All

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Rikesh Mistry

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

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Larry L Kinn
Suominen Corporation

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

Pranav Mishra
Huemn

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

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

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

December 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
69.2%
No
12.1%
Skip
18.7%

Total Votes: 91

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
61.5%
No
30.8%
Skip
7.7%

Total Votes: 91

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
86.8%
No
9.9%
Skip
3.3%

Total Votes: 91

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
81.3%
No
8.8%
Skip
9.9%

Total Votes: 91


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