Global Brands interim revenue up 15 percent
Branded apparel, footwear, and fashion accessories company, Global Brands Group, announced on Thursday an increase in revenue for the six months ended September 30 2016.
The group’s revenue increased by 15 percent to US$1,844 million compared to US$1,604 million for the same period last year, driven primarily by growth from existing and new licenses.
“I am delighted we have delivered such a strong set of results,” says Bruce Rockowitz, Chief Executive Officer and Vice Chairman of Global Brands Group, in a news statement. These were achieved despite facing a challenging business environment globally and fundamental shifts in consumer behaviour in our industry.”
The group’s total margin continued to trend up strongly and increased by 19.9 percent, reaching US$655 million. Core operating profit also posted a significant increase of 129.9 percent from the same period last year, to US$78 million, while EBITDA increased by 44 percent to US$179 million.
Among the group’s four business verticals, the kids vertical increased revenue by 10.3 percent to US$813 million compared to the same period last year. The footwear and accessories vertical as well as the men’s and women’s fashion vertical revenue increased by 3.4 percent to US$595 million and by 48.9 percent to US$371 million, respectively. As for brand management, revenue also increased by 52.8 percent to US$66 million, while total margin increased by 41.3 percent to US$16 million.
“We are embracing change, continuing to diversify our brands, leveraging our ability to be channel agnostic and gearing up our e-commerce capabilities. We will continue to focus on building our footprint across Europe and Asia, and increasing our market share across all our distribution channels,” added Bruce Rockowitz.
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