×
109
Fashion Jobs
LIMEAPPLE APPAREL
Ecommerce Expert With Digital Marketing Skills
Permanent · CHENNAI
NIKE
sr. HR Operations Specialist
Permanent · Bengaluru
L'OREAL GROUP
Senior Manager - Digital Marketing & D2C, Kerastase
Permanent · Mumbai
NIKE
Senior Dynamic Application Security Tester – Cis, Icc, India
Permanent · Bengaluru
PUMA
Senior Manager - Golf Sales (Cpg-Cobra Puma Golf)
Permanent · Bengaluru
PUMA
Manager - Accounts Payable
Permanent · Bengaluru
PUMA
Senior Manager – Teamsport Sales
Permanent · Bengaluru
NIKE
Lead Technical Product Manager – p&m, Icc, India
Permanent · Bengaluru
PUMA
Manager – Warehouse Operations (Ecommerce)
Permanent · Gurugram
NIKE
Lead Product Manager, India – ed&a Icc
Permanent · Bengaluru
PVH
Manager, Business Solutions
Permanent · Bengaluru
NIKE
Identity And Access Management (Iam) Security Operations Engineer, India – Cis Icc
Permanent · Bengaluru
NIKE
Expert Security Incident Coordinator, India – Cis Icc
Permanent · Bengaluru
PUMA
Assistant Business Manager – Puma.Com
Permanent · Bengaluru
NIKE
Senior Software Engineer Iii – Retail Commerce Passplay, India - Consumer & Marketplace Icc
Permanent · Bengaluru
L'OREAL GROUP
Indirect Sourcing Manager
Permanent · Baddi
NIKE
Sap bi Lead Engineer – Sec Tech, Icc, India
Permanent · Bengaluru
NIYOSSHIC LUXURY CONSULTANCY
Social Media Intern
Internship · MUMBAI
SAAHRA
Graphic Design Summer Internships
Internship · NEW DELHI
HEMMING BEE
Fashion Production Intern
Internship · MUMBAI
HEMMING BEE
Fashion Production Intern
Internship · MUMBAI
BROADCAST THE COMPANY
Business Developement
Internship · MUMBAI
Published
Feb 6, 2014
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

IC Companys’ first half-year full of contrasts

Published
Feb 6, 2014

A mixed picture — that's what IC Companys has to offer after the first six months of its fiscal year. For the period ending December 31, the Danish group's first half of the staggered fiscal year saw sales fall by 1% to 1.775 billion Danish krone or 238 million euros. This overall figure factors in the various fortunes of the group's brand segments. The mid-range segment, currently undergoing a restructure, is still suffering. The outdoor Peak Performance brand remained stable, while premium ready-to-wear brands By Malene Birger and Tiger of Sweden enjoyed double-digit growth.

Tiger of Sweden spring-summer 2014.


The group's leader, Peak Performance and the only brand in the outdoor segment, apparently struggled with the too warm winter in Northern Europe, which accounts for 69% of its sales. IC Companys hopes to do better than this stable first six months or even the slight decline of 1.2% compared to the same period last year. 70% of the 76 million euros in sales came from wholesale business and franchising, an increase of 3.5%.

The bad news came from retail with a decline of 7.5%. Even the group's most profitable brand Peak Performance slightly declined by 1% in operating profit, down to 12 million euros.

The other two premium brands, By Malene Birger women's wear and the mixed line Tiger of Sweden, fared much better. The premium segment these two lines comprise enjoyed increased sales of 12% for the half-year, reaching 79 million euros. The growth was driven by retail expansion and more international business, but the product is also a factor, given that sales already grew 8.4% for the same period last year. The group also welcomed the successful launch of an accessories range for Tiger of Sweden, which also just signed two new distribution deals covering France and the United States. Wholesale for this segment grew by 16%, compared to retail growth of 5.5%. As a result, the company's operating income increased 8% to 7.8 million euros.

Once again, the mid-range segment dragged down results of the first half of IC Companys' fiscal year. This market slot only now has four brands left — InWear, Matinique, Part Two and Soaked in Luxury, following the group's announcement to separate the women's wear brands Saint Tropez and Designers Remix from the grouping. Having already sold Jackpot and Cottonfield in 2013, IC Companys is starting a process of selling off Saint Tropez and is pondering the financial future of Designers Remix in which it is only co-shareholder.

The company's mid-range is undergoing a full restructuring and looking for synergies between its four remaining brands. Here too, segment sales decreased, this time nearly 16% or 53 million euros. While wholesale was down 19%, retail posted a decline of 12%, but only 1.6% less on a comparable basis. Basically shop closings pushed down sales for the reporting period, but these cost reductions have nearly doubled the company's operating income, from 1.5 million to 2.8 million euros.

All this combined, the operating profit of the group increased by 6% to 25 million for the first half-year. For the full year, IC Companys management hopes overall sales will remain stable but with higher profits.

Copyright © 2021 FashionNetwork.com All rights reserved.