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'We will continue to seek new expansion opportunities' - Tommy Hilfiger
09 Jun '09
5 min read
Daniel Grieder was appointed Chief Executive Officer of Tommy Hilfiger Europe B.V. in October 2008. His previous role as Chief Operating Officer and President of Tommy Hilfiger Europe as well as 11 years experience at Tommy Hilfiger Group, made him a natural choice to strengthen the European management team to face the challenges and opportunities ahead.
March 2009 also saw Tommy Hilfiger make an important strategic move and open its largest European flagship store in Cologne, Germany. The opening has thus far been very successful, despite difficult market conditions and further cements Tommy Hilfiger's efforts to further elevate and re-confirm the brand's positioning in the European market.
North America
Total sales increased 10% to $ 898 million (EUR636 million). In the wholesale business, the partnership with Macy's again contributed to the growth compared to last year, resulting in an increased market share compared to our competitors. In the retail stores the comparable growth amounted to 0.7%, with the second half of the year showing a reversal of the first half year trend. Total retail sales growth amounted to 10%.
Our successful strategic alliance with Macy's has been expanded to include the Tommy Hilfiger children's wear range following its success in Europe.
In March 2009, we announced our intent to integrate our US and Canadian business into Tommy Hilfiger North America. The integration of the North American business is progressing according to plan.
Rest of the world
Sales in Japan developed according to plan and are significantly contributing to the overall growth of the company. In addition, all our licensing partners in Middle and South America as well as the rest of Asia showed strong high single digit growth rates.
Store portfolio
A total of 100 new stores were opened in the year, taking the global store portfolio to over 900 at 31 March 2009. Of these stores, approximately 50% are owned and operated stores. As previously announced, Tommy Hilfiger Group intends to open its first global flagship store on 5th Avenue, New York, marking a major step in expanding the brand's retail presence in the US. The store is due to open in September 2009.
Current Trading and Outlook
The global economic climate remains challenging and we, along with many international retailers, have experienced difficult market conditions. Initial figures show that after a challenging start to the Spring season, April saw stronger trading and in particular the European market showed a strong recovery around Easter. Tommy Hilfiger has a strong brand, experienced management team and diversified business model in geographic and distribution channel terms, and is well positioned to navigate the downturn. Our focus in the current market is on consolidating our position and building our performance in our markets whilst maintaining a disciplined approach to our cost base.
March 2009 also saw Tommy Hilfiger make an important strategic move and open its largest European flagship store in Cologne, Germany. The opening has thus far been very successful, despite difficult market conditions and further cements Tommy Hilfiger's efforts to further elevate and re-confirm the brand's positioning in the European market.
North America
Total sales increased 10% to $ 898 million (EUR636 million). In the wholesale business, the partnership with Macy's again contributed to the growth compared to last year, resulting in an increased market share compared to our competitors. In the retail stores the comparable growth amounted to 0.7%, with the second half of the year showing a reversal of the first half year trend. Total retail sales growth amounted to 10%.
Our successful strategic alliance with Macy's has been expanded to include the Tommy Hilfiger children's wear range following its success in Europe.
In March 2009, we announced our intent to integrate our US and Canadian business into Tommy Hilfiger North America. The integration of the North American business is progressing according to plan.
Rest of the world
Sales in Japan developed according to plan and are significantly contributing to the overall growth of the company. In addition, all our licensing partners in Middle and South America as well as the rest of Asia showed strong high single digit growth rates.
Store portfolio
A total of 100 new stores were opened in the year, taking the global store portfolio to over 900 at 31 March 2009. Of these stores, approximately 50% are owned and operated stores. As previously announced, Tommy Hilfiger Group intends to open its first global flagship store on 5th Avenue, New York, marking a major step in expanding the brand's retail presence in the US. The store is due to open in September 2009.
Current Trading and Outlook
The global economic climate remains challenging and we, along with many international retailers, have experienced difficult market conditions. Initial figures show that after a challenging start to the Spring season, April saw stronger trading and in particular the European market showed a strong recovery around Easter. Tommy Hilfiger has a strong brand, experienced management team and diversified business model in geographic and distribution channel terms, and is well positioned to navigate the downturn. Our focus in the current market is on consolidating our position and building our performance in our markets whilst maintaining a disciplined approach to our cost base.
Tommy Hilfiger Group
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