Home / Knowledge / News / Apparel/Garments / Global Brands revenue down 5.2% in H1 FY2020

Global Brands revenue down 5.2% in H1 FY2020

Nov '19
Pic: Global Brands Group
Pic: Global Brands Group
Revenue of Global Brands Group decreased by 5.2 per cent in H1 FY2020 ending September 30, 2019, compared to same period last year. The total margin increased by 600 basis points, from 27.2 per cent to 33.4 per cent, as a percentage of revenue. The increase was due to reduction of off-price sales levels and strengthening of the group’s sourcing capability.

Operating costs, excluding other gains/losses, reflected a decrease of $$68 million or 20.7 per cent. The decrease was driven by the group’s ongoing efforts to streamline the business and optimise its brands and resources.

Contributed by higher margins and lower operating expenses, the group has returned to a positive EBIDTA for the reporting period, with an increase of 304.4 per cent compared to the same period last year.      

“I’m pleased we have achieved a significant improvement in performance despite the challenging macro environment and changes facing the retail sector globally. This demonstrates our efforts to streamline the group’s operations have positively impacted our results,” said Rick Darling, chief executive officer of Global Brands Group Holding Limited.

"It is encouraging to see the progress we have made in driving forward the group’s transformation," added Darling. "At the half-year mark, I’m pleased to share that we have already exceeded both our initial target of $$100 million and subsequent target of $$140 million in operating cost reduction, which we had originally anticipated achieving by the end of this FY2020. While we continue to restructure and transform our business, our product expertise, unique global platform and channel-agnostic approach have put us on a path to sustainable growth."

Global Brands Group Holding Ltd is one of the world’s leading branded apparel and footwear companies. The group designs, develops, markets and sells products under a diverse array of owned and licensed brands.

Fibre2Fashion News Desk (PC)

Must ReadView All

Pic: University of York

Textiles | On 30th Nov 2020

UK scientists working to reduce textile industry waste

Scientists at the University of York and the Royal College of Art are ...

Pic: Material Exchange

Textiles | On 30th Nov 2020

Material Exchange raises €5 million for sustainability

Material Exchange has announced the closing of a €5 million funding...

Pic: Shutterstock

Apparel/Garments | On 30th Nov 2020

Gap reports sales of $3.99 bn in Q3 FY20

Gap Inc, a US-based specialty apparel company, has reported its...

Interviews View All

Rahul Bhadani, Looksgud

Rahul Bhadani

Navigating through catalogues is a bit hasslesome

Ajay Ghariwala, Luthra Group

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Headhonchos, Indian textile value chain

Indian textile value chain

'One nation, one tax' is a great concept

Abhishek Pachauri,

Abhishek Pachauri

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

Abhishek Pachauri,

Abhishek Pachauri

Reckon Industries is into manufacturing of textile process house machines, ...

Uhan Soebiantoro,

Uhan Soebiantoro

Luckytex is an integrated textile manufacturing company founded by...

Urs Stalder, Sanitized AG

Urs Stalder
Sanitized AG

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

Marten Alkhagen, Swerea IVF AB

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Robin Grankvist, OrganoClick AB

Robin Grankvist
OrganoClick AB

Robin Grankvist talks about PFCs, additives and various chemicals used in...

Divvya and Nidhhi Gambhir, Walnut

Divvya and Nidhhi Gambhir

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Aprajita Toor, Aprajita Toor

Aprajita Toor
Aprajita Toor

The creations by Aprajita Toor were born out of a deep desire to create...

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

Ruma Devi is a jet-setting promoter of artisans who has empowered...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

November 2020

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

Advanced Search