Home / Knowledge / News / Fashion / Elegant Illusions witnesses slide in revenues

Elegant Illusions witnesses slide in revenues

27
May '08
Elegant Illusions Inc announced that same store revenues for April 2008 were approximately 10% down from April 2007. Company wide revenues were approximately 11% down from total revenues for April 2007.

Management on a continual basis for the last four years has invested strongly in inventory while gold was at lower prices. We have kept our leases in option form thereby being able to move with the changes in the economy. We have moved our jewelry design and price point to appeal to the upper middle class and above.

The Company has recognized the trend of shrinking discretionary funds for the last several years. Management believes that this trend will continue and increase due to rising energy costs, the shrinking access to credit and lower wages because of the shrinking manufacturing base in America.

In response to this trend, we have closed our non performing locations in an orderly manner and expect to close additional stores in an orderly manner while maintaining a level of sales that will allow the Company to continue its moving into different markets that have a maximum return with a minimal initial risk of capital investment.

The Company continues to evolve and move its concept into the upper classes where we believe we provide tremendous value and uniqueness. We believe a viable avenue to broaden sales of our products is through large retail companies.

While we have yet to realize any positive results in this area, we are continuing our efforts in this area. We anticipate lower sales, and store closures, however there will be corresponding lower expenses and we anticipate this Company will be debt free and ready to deliver on any opportunity that it is presented with.

Company wide figures are based on the revenues of 19 stores in 2006 versus revenues of 17 stores in 2007.

Elegant Illusions Inc


Must ReadView All

Pic: Shutterstock

Textiles | On 24th Jul 2021

5.2 lakh Zimbabwean homes to gain from Pfumvudza cotton inputs scheme

At least 520,000 households in the marginalised zones of Zimbabwe...

Pic: Lanzatech

Textiles | On 24th Jul 2021

US' LanzaTech, Lululemon to make yarn from recycled carbon emissions

LanzaTech has joined hands with Lululemon athletica, an athletic...

Pic: HOdo Group

Apparel/Garments | On 24th Jul 2021

Chinese apparel firm HOdo exports carbon-offset clothing

Apparel brand HOdo has claimed producing and exporting China’s first...

Interviews View All

International apparel brands, Head honchos

International apparel brands
Head honchos

Launched first collection at onset of Covid

Water stewardship, Stakeholders

Water stewardship
Stakeholders

Water use efficiency remains relatively unexplored

Vandana Narang, National Institute of Fashion Technology

Vandana Narang
National Institute of Fashion Technology

Campus placements are low due to lockdowns

Dhirubhai & Arvind Shah,

Dhirubhai & Arvind Shah

It supplies synthetic fabrics to top international brands like M&S,...

Sanjay Jhunjhunwalla,

Sanjay Jhunjhunwalla

In the financial hub of eastern India, Kolkata, a humble production...

David Guiho,

David Guiho

Headquartered in Apt, South of France, Delta Plus designs, manufactures...

Shaan Sethi, Jaanuu

Shaan Sethi
Jaanuu

Jaanuu, a vertically integrated e-commerce company, has reimagined the...

Steve McCullough & Marco Weichert, Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Steve McCullough & Marco Weichert
Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Functional Fabric Fair is a trade-exclusive event showcasing the latest...

Michael Jaenecke, Messe Frankfurt

Michael Jaenecke
Messe Frankfurt

From May 14 to 17, international exhibitors will present the entire...

Niti Singhal, Twee In One

Niti Singhal
Twee In One

Best known for convertible clothing, Indian brand Twee In One by designer...

Vidur Adlakha & Riccardo Bennidini, La Fuori

Vidur Adlakha & Riccardo Bennidini
La Fuori

With an active presence in US, Italy and India, clothing brand La Fuori...

Archana Jaju, Label Archana Jaju

Archana Jaju
Label Archana Jaju

<b>Archana Jaju</b>’s Hyderabad-based eponymous label works with artisans...

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


July 2021

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


Advanced Search