Investment Research Presentation
|
|
- Daniella Burke
- 6 years ago
- Views:
Transcription
1 Investment Research Presentation G-III Apparel Month Senior Day, Analyst: 20XXJustin Bartenbach Junior Analysts: Emil Kilman, Dora Xu, Michael Lazar, Ricardo Giron, Justin Reinhardt 1
2 Investment Recommendation Industry Overview Why G-III? Valuation Drivers Risk Factors Intrinsic & Comparable Valuation 2
3 G-III Investment Recommendation G-III Apparel Group Ltd. designs, manufactures & markets apparel, including outerwear, dresses, sportswear, swimwear, women's suits & women's performance wear, as well as footwear, luggage & women handbags, small leather goods & cold weather accessories. BUY with the ability to become a STRONG BUY in near future Recent problems with climate à trouble with outerwear sales Introduction of DK into business model More diversification More retail/wholesale market share BUY Target Price: $27.30 Current Trading Price: $23.13 (18% upside) Valuation Drivers: Diversified Distribution Base DK Acquisition & Expansion Surge in e- Commerce Source: Google Finance, G-III Annual Report 3
4 Industry Overview Apparel and Accessories Manufacturing Companies in this industry are primarily engaged in the manufacturing of men's, women's and children's apparel. The industry includes manufacturers that purchase fabrics and those that manufacture fabrics themselves and have fixed operational facilities. All companies listed participate in both retail and wholesale. Target Company: Competitors: G-III Apparel NASDAQ: GIII 1.18 B Market Cap. VF Corporation NYSE: VFC B Market Cap. PVH NYSE: PVH 7.71 B Market Cap. Genesco NYSE: GCO M Market Cap. Source: Ibis World, Google Finance 4
5 Why G-III? Strong Brand-name Recognition Wholesale Licensed - 17 fashion brands - 9 team sport brands Retail Owned Loyalties 11 brands 5 brands Source: G-III Annual Report 5 brands 402 stores in the U.S. 5
6 Why G-III? Diversified Distribution Base G-III leverages a diversified distribution base with multiple channels of distribution Macy s, TJX Companies, Nordstrom, Saks Fifth Avenue, etc. Multiple price points and consumer demographic segments From off-price retailers to luxury department stores Mass / Club Online Media / Television Off-Price Source: G-III Annual Report, Google Finance Mid-tier Department Stores Aspirational / Luxury 6
7 Valuation Driver: Diversified Growth Strategy Through M&A One of the most difficult risks to overcome in retail industry is seasonality In order to position themselves as an allseason apparel company, G-III focuses on acquiring a varied portfolio of brand names to cover all seasons FY2016 Sales: August 2012 November 2013 Recent acquisitions: Acquisition of Vilebrequin Status swim & resort wear Wholesale & retail Acquisition of G.H. Bass Footwear, apparel and accessories Sportwear & Other 26% Dresses 21% Retail 26% Outerwear 27% June 2015 Joint venture with Karl Lagerfeld 49% ownership in brand rights First licensee in joint venture women s apparel, handbags, men s outerwear Most recent and influential acquisition: DK from LVMH in December 2016 February 2016 Expanded relationship with Tommy Hilfiger license Women s sportswear, suits, and denim products In addition to variety of current Tommy Hilfiger products Source: G-III Annual Report 7
8 Valuation Driver: Expansion of DKNY/DKI Sales Revenue (millions of USD) Operating Income (millions of USD) DKNY Projected Revenues ($ in millions) $ $ $ $ $ DKNY Projected Operating Income ($ in millions) Source: G-III Annual Report, WSJ, Google Finance In December of 2016, G-III acquired Donna Karan from LVMH for $650 million (combination of cash and debt) As of March 27th, Macy s signed an exclusive agreement with G-III to become the exclusive department store retailer of DKNY women s apparel, handbags, and shoes. DK alone has the ability to be a billion dollar brand Addition of DK enables expansion of wholesale category Adds scale, diversification, and growth Strengthens online retail channels (Donna Karan & DKNY websites) 45 new retail stores G-III projects strong revenues for Donna Karan in the coming years. In terms of operating income, G-III expects dilution of earnings for the first year due to the brands integration into the current business model; positive results after. Segments of revenue Wholesale 53% Retail 35% Loyalties 12% DK will be pivotal in the expansion of G-III s business strategy. We see the company adding longterm value to G-III 8
9 Valuation Driver: Surge in US Retail e-commerce As the transition from Brick and Mortar stores to online presence increases, retailers are focusing greatly on their e- Commerce presence. By utilizing e-commerce, consumers can browse clothing options even faster, without having to leave their homes G-III is able to benefit from both the e- Commerce presence of their retail stores, but also from the stores of partners including Nordstrom, Macy s etc. Due to G-III s diversified distribution base, many of their brands receive recognition online through the traffic of their popular distributors (Nordstrom, Neiman Marcus, etc.) Acquisition of Donna Karan adds even more e-commerce exposure to G-III s list through DK and DKNY websites Number of Shoppers (millions) US Digital Shoppers and Buyers, Digital Shoppers Digital Buyers While digital shopping does not always directly lead to purchase, retail execs. claim that it does translate into an influence throughout the path to purchasing the clothes Showrooming - Bought digitally after browsing in store - 72% made purchase Webrooming - bought in store after browsing digitally - 78% made purchase Sources: IBISWorld, emarketing, Yieldify 9
10 Risk Factors Dependent on strategies and reputation of licensors G-III s success is tied to the success of the licensors A loss of large recognized licensors could adversely affect the company s growth and potential profitability G-III got a downgrade following the deal with DKNY due to its decline in sales since 2000 Legal and political restrictions International trade agreements that provide for higher tariffs can increase the cost of textile and therefore limit the amount that can be imported for production SEC disclosure obligations relating to use of conflict minerals such as culombite-tantalite, cassiterite, and wolframite Arrangement with foreign manufacturers could be limited due to trade restrictions The cyclical nature of the apparel industry Consumer behavior and changing fashion trends could lead to decrease in sales Unseasonably warm weather in the first part of the fourth quarter and retail industry challenges drove a $20 million decline in sales Clothing lines related to seasons creates uncertainty Sources: G-III Annual Report, Market Watch 10
11 Comparable Companies Valuation Company EV Market Cap Revenue EBITDA Net Income P/E P/E/G EV/EBITDA EV/Revenue GIII Apparel 1, , , x 0.9x 7.2x 0.7x VF Corp 23, , , , , x 1.8x 12.2x 2.0x PVH Corp. 10, , , , x 1.4x 10.0x 1.3x Genesco Inc. 1, , , x 1.2x 5.2x 0.4x High 19.2x 1.8x 12.2x 2.0x Mean 14.7x 1.5x 9.1x 1.2x Median 13.7x 1.4x 10.0x 1.3x Low 11.3x 1.2x 5.2x 0.4x 11
12 DCF Valuation & Weightings Key Assumptions: Cost of Debt = 2.4% Cost of Equity = 11.95% WACC = 9.41% Terminal Growth rate = 1.5% 12
13 Investment Recommendation Valuation Drivers: DK Acquisition & Expansion Diversified Distribution Base Surge in e- Commerce BUY Target Price: $27.30 Current Trading Price: $23.13 (18% upside) BUY with the ability to become a STRONG BUY in near future Recent problems with climate à trouble with outerwear sales Unseasonably warm in Q4 Introduction of DK into business model More diversification More retail/wholesale market share Risk = higher costs due to implementation? 13
14 THANK YOU 14
15 BACK-UP SLIDES 15
16 Valuation 16
17 17
18 18
19 Statement of Cash Flows 19
G-III Apparel Group, Ltd. to Acquire Donna Karan International, Inc. August 2016
G-III Apparel Group, Ltd. to Acquire Donna Karan International, Inc. August 2016 Forward Looking Statements Statements concerning G-III's business outlook or future economic performance, anticipated revenues,
More informationS H A R E H O L D E R S M E E T I N G J U N E
S H A R E H O L D E R S M E E T I N G J U N E 2 0 1 7 Safe Harbor Statement We caution readers that the forward-looking statements (statements which are not historical facts) in this release are made pursuant
More informationInvestor Presentation June 2012
Investor Presentation June 2012 DISCLAIMER FORWARD LOOKING STATEMENTS Certain information contained in this presentation, particularly information regarding future economic performance, finances, and expectations
More informationINTERIM RESULTS Shandong Ruyi as controlling shareholder of Trinity Group. Ruyi Group
23 August 2 Shandong Ruyi as controlling shareholder of Trinity Group Ruyi Group Overview of Ruyi Group 4 Company Overview Founded in 1972, employees over 50,000 globally Ranks 1 st among 500 textile and
More informationBUSINESS STRATEGY AND POLICY - MGMT3031
0 CASE STUDY - ESTEE LAUDER COMPANIES INC DEPARTMENT OF MANAGEMENT STUDIES BUSINESS STRATEGY AND POLICY - MGMT3031 SEMESTER II 2012-2013 ESTEE LAUDER COMPANIES INC 1 CASE STUDY - ESTEE LAUDER COMPANIES
More informationBurberry Group plc. Second Half Trading Update
16 April 2014 Burberry Group plc Second Half Trading Update Highlights for the six months 2014 Total revenue 1,298m, up 19% underlying - Underpinned by continued investment Retail revenue 928m, up 13%
More informationCAPRI HOLDINGS LIMITED. November 7, 2018
CAPRI HOLDINGS LIMITED November 7, 2018 1 FORWARD-LOOKING STATEMENTS This presentation contains statements which are, or may be deemed to be, forward-looking statements. Forward-looking statements are
More informationCAPRI HOLDINGS LIMITED
Morgan Stanley Global Consumer & Retail Conference CAPRI HOLDINGS LIMITED John Idol, Chairman & Chief Executive Officer Tom Edwards, Chief Financial & Chief Operating Officer 1 OUR GLOBAL FASHION LUXURY
More informationAbout the Report. Booming Women Apparel Market in India
About the Report "Booming Women Apparel Market in India" is the new report by that give a rational analysis on the Indian women apparel industry. This report has been made to help the client in analyzing
More informationResults for 1Q-3Q of Fiscal 2012: Supplementary Materials. Naoki Kume DIRECTOR OF FINANCE/MANAGEMENT PLANNING DIV. POLA ORBIS HOLDINGS INC.
Results for 1Q-3Q of Fiscal 2012: Supplementary Materials Naoki Kume DIRECTOR OF FINANCE/MANAGEMENT PLANNING DIV. POLA ORBIS HOLDINGS INC. This report contains projections of performance and other projections
More informationLAWRENCE HUNT FASHION, INC.
LAWRENCE HUNT FASHION, INC. Abstract Lawrence Hunt designs and distributes sweat- wicking dress shirts using a patent- pending design and process to integrate 100% cotton fabric and performance fabric
More informationFirst Half Trading Update. Retail sales up 2% underlying in an increasingly challenging environment for luxury customers
15 October 2015 Burberry Group plc First Half Trading Update Retail sales up 2% underlying in an increasingly challenging environment for luxury customers Highlights for the six months to 30 September
More informationEXPANDING OUR GLOBAL FASHION LUXURY GROUP CAPRI HOLDINGS LIMITED
EXPANDING OUR GLOBAL FASHION LUXURY GROUP CAPRI HOLDINGS LIMITED FORWARD-LOOKING STATEMENTS This presentation contains statements which are, or may be deemed to be, forward-looking statements. Forward-looking
More informationCHRISTIAN DIOR 2017 RECORD RESULTS
30 AVENUE MONTAIGNE PARIS 75008 Paris, February 2, 2018 CHRISTIAN DIOR RECORD RESULTS The Christian Dior group recorded revenue of 43.7 billion euros in, an increase of 11% over the previous year. Organic
More informationTheresa M. Sterman Blackhawk Street Plantation, FL Cell: (917)
Theresa M. Sterman 10863 Blackhawk Street Plantation, FL 33324 TSterman@bellsouth.net Cell: (917) 575-2842 OBJECTIVE To be a Silver Bullet and shining star on your management team to help lead our company
More informationApparel Quarterly Update. L a t e F a l l
Apparel Quarterly Update L a t e F a l l 2 0 1 7 Market Update I N T R O D U C T I O N K E Y D A T A P O I N T S Our Quarterly Apparel Report is intended to provide consistent quarterly insights into all
More informationFirst Day The Creative Process. Second Day The Business of Fashion. Third Day Marketing Fashion & You
First Day The Creative Process Second Day The Business of Fashion Third Day Marketing Fashion & You Apparel Production & Manufacturing Process & Job-order Costing The Apparel Distribution System Technology
More informationREPUBLIC OF RWANDA MINISTRY OF TRADE, INDUSTRY AND EAC AFFAIRS
REPUBLIC OF RWANDA MINISTRY OF TRADE, INDUSTRY AND EAC AFFAIRS RESPONSE TO THE REQUEST FOR COMMENTS AND NOTICE OF PUBLIC HEARING CONCERNING AN OUT- OF- CYCLE REVIEW OF RWANDA S ELIGIBILITY FOR BENEFITS
More information2. The US Apparel and Footwear Market Size by Personal Consumption Expenditure,
1 TABLE OF CONTENTS 1. The US Apparel and Footwear Market Introduction 2. The US Apparel and Footwear Market Size by Personal Consumption Expenditure, 2005-2010 3. The US Apparel and Footwear Per Capita
More informationResults for the First Quarter of Fiscal 2012: Supplementary Materials. Naoki Kume
Results for the First Quarter of Fiscal 2012: Supplementary Materials Naoki Kume DIRECTOR OF FINANCE/MANAGEMENT PLANNING DIV. POLA ORBIS HOLDINGS INC. This report contains projections of performance and
More information3.8x Growth in spends on fashion and apparel by 2020
A Younger India is Changing Is Getting the Fashion More Fashionable Landscape A Boston Consulting Group study suggests that the life-time consumption of a child born in 2009 in India is going to be 13X
More informationChina Home Textile Industry Report, Apr. 2013
China Home Textile Industry Report, 2012-2015 Apr. 2013 STUDY GOAL AND OBJECTIVES This report provides the industry executives with strategically significant competitor information, analysis, insight and
More informationNet sales slightly decreased by 1.3% y-o-y from Rp 2.08 trillion to Rp 2.05 trillion. Domestic market started to show a recovery amidst low consumer
Net sales slightly decreased by 1.3% y-o-y from Rp 2.08 trillion to Rp 2.05 trillion. Domestic market started to show a recovery amidst low consumer purchasing power and tough market competition. Export
More informationCoach, Inc. Marketing Plan and Executive Summary
Coach, Inc. Marketing Plan and Executive Summary Sebastian Goetz Fashion Marketing Parsons The New School for Design December 9, 2015 2 Executive Summary Coach, Inc. is a modern American-based leather
More informationUS Denim Jeans Market Report
US Denim Jeans Market Report ----------------------------------------- 2015 Executive Summary Denim has become a wardrobe staple for the comfort it offers and above all for being one of the best clothing
More informationBURBERRY IN A SNAPSHOT
BURBERRY IN A SNAPSHOT BRITISH LUXURY BRAND OVER 10,000 EMPLOYEES WORLDWIDE Authentic British heritage Made in England Founded in 1856 by Thomas Burberry FTSE 100 MEMBER Ordinary shares traded in London
More informationIntroduction 2. Mission of Statement Organizational Resources & Opportunities.. 4. Analysis of the Environment SWOT Analysis.
Table of Contents Introduction 2 10 12 13 14 Mission of Statement... 3 Organizational Resources & Opportunities.. 4 Analysis of the Environment... 5 SWOT Analysis. 6 Organizational and Marketing Objectives.
More informationChina Cosmetics Market Report, Feb. 2012
China Cosmetics Market Report, 2010-2011 Feb. 2012 STUDY GOAL AND OBJECTIVES This report provides the industry executives with strategically significant competitor information, analysis, insight and projection
More informationHighlights for the 1 st Half of FY2007
Highlights for the 1 st Half of FY2007 October 23, 2007 Kao Corporation Motoki Ozaki President and CEO These presentation materials are available on our website in PDF format: http://www.kao.co.jp/en/ir/analystmtg/index.html
More informationUS Consumer Analysis: Apparel and Footwear. February, 2017
US Consumer Analysis: Apparel and Footwear February, 2017 US Consumer Analysis: Apparel and Footwear 01 About this Report 02 Key Takeaways and Market Overview 03 Purchase Behavior: Apparel and Footwear
More informationTrade Wars and China Tariffs the Latest on the Threats to Brands and Retailers + Strategies for the Future
Trade Wars and China Tariffs the Latest on the Threats to Brands and Retailers + Strategies for the Future Julia K. Hughes, President United States Fashion Industry Association (USFIA) February 5, 2019
More informationSUGI INTERNATIONAL. Headquartered in Hong Kong, Sugi International Ltd is a leading player in the footwear industry. CONTENTS
COMPANY PROFILE COMPANY PROFILE SUGI INTERNATIONAL Headquartered in Hong Kong, Sugi International Ltd is a leading player in the footwear industry. The Italian brothers Matteo and Massimo Sinigaglia founded
More informationFashion Merchandising and Design. Fashion Merchandising and Design 10
Fashion Merchandising and Design Fashion Merchandising and Design Fashion Merchandising and Design brings to life the business aspects of the fashion world. It presents the basics of market economics,
More informationResults Briefing. for the Year Ended March 31, May 13, 2015 MOSHI MOSHI HOTLINE, INC.
Translation Results Briefing for the Year Ended March 31, 2015 May 13, 2015 MOSHI MOSHI HOTLINE, INC. *NOTICE : This document is an excerpt translation of the original Japanese document and is only for
More information2013 NIKE, INC. d INVESTOR MEETING
INVESTOR MEETING 2013 NIKE, INC. d The following material represents prepared remarks for NIKE, Inc. s Investor Day product room presentations. These prepared remarks do not reflect questions asked by
More informationBeauty Loyalty Programs: Sephora Vs. Ulta
Beauty Loyalty Programs: Sephora Vs. Ulta 1) Sephora and Ulta are the top-two beauty retail chains in the US. In 2016, they accounted for 22.7% and 26.7% of US beauty specialist retail sales, respectively.
More informationWhich Retailers Would Gain from a Sears Closure?
Which Retailers Would Gain from a Sears Closure? Sears Holdings has filed for bankruptcy. In this report, we consider which major retailers could gain sales should all Sears department stores ultimately
More informationFairfield Public Schools Family Consumer Sciences Curriculum Fashion Merchandising and Design 10
Fairfield Public Schools Family Consumer Sciences Curriculum Fashion Merchandising and Design 10 Fashion Merchandising and Design 10 BOE Approved 05/09/2017 1 Fashion Merchandising and Design Fashion Merchandising
More informationGlobal Handbags Market Report
Global Handbags Market Report ---------------------------------------------------- 2013 Executive Summary Premium handbags and accessories is one of the fastest growing segments in the overall luxury market.
More informationAgenda is subject to change. ECV International reserves the right to alter this agenda.
Summit Highlights: Deep Interpretation of the Latest Government Policies and Masterplan of Textile and Apparel Industry in Myanmar An Overlook and Prospect of Today s Myanmar Textile and Apparel Industry
More informationThe UNIQLO Evolution all about global quality
October 14, 2004 The UNIQLO Evolution all about global quality Genichi Tamatsuka Fast Retailing Co., Ltd President & COO My name is Genichi Tamatsuka and I am the President and COO of FAST RETAILING Co.,
More informationGlobal and China Luxury Apparel Industry Report, Oct. 2015
Global and China Luxury Apparel Industry Report, 2015-2018 Oct. 2015 STUDY GOAL AND OBJECTIVES This report provides the industry executives with strategically significant competitor information, analysis,
More informationMexico and the Global Apparel Industry
Mexico and the Global Apparel Industry Trends and Challenges May 2018 COTTON INCORPORATED S CONSUMER & RETAIL INSIGHTS 300,000+ INTERVIEWS CONDUCTED 1,500,000+ GARMENTS AUDITED 625,000+ REVIEWS ANALYZED
More informationUnderstanding the fashion retail market
Understanding the fashion retail market UV20372 M/600/0637 Learner name: VRQ Learner number: VTCT is the specialist awarding body for the Hairdressing, Beauty Therapy, Complementary Therapy and Sport and
More informationApril 9, Tadashi Yanai FAST RETAILING CO., LTD. President, Chairman & CEO
April 9, 2009 Tadashi Yanai FAST RETAILING CO., LTD. President, Chairman & CEO 1 Consolidated results Yr to Aug 09 Net sales 357.4bln (+13.0% y/y) Operating income 69.8bln(+28.7% y/y) Net Sales Billions
More informationBackground. Proenza Schouler: New York based womenswear and accessories brand. Founded in 2002 by Jack McCoullough + Lazaro Hernandez.
Background Proenza Schouler: New York based womenswear and accessories brand. Founded in 2002 by Jack McCoullough + Lazaro Hernandez. The two designers met while studying at Parsons. Their senior thesis
More informationStrands & Standards FASHION DESIGN MERCHANDISING
Strands & Standards FASHION DESIGN MERCHANDISING COURSE DESCRIPTION The Fashion Design Merchandising course is an introductory course that teaches the concepts of entry-level business and fashion fundamentals.
More informationAddress by CEO Karl-Johan Persson at H&M s AGM 2017
Address by CEO Karl-Johan Persson at H&M s AGM 2017 Good afternoon, and a very warm welcome to you. I am delighted that so many of you have come here today to our annual general meeting which I see as
More informationFashion Design Merchandising
EXAM INFORMATION Items 44 Points 70 Prerequisites NONE Course Length ONE SEMESTER Career Cluster HUMAN SERVICES MARKETING DESCRIPTION Fashion Design Merchandising is an introductory course that teaches
More informationHERMĒS EXCEPTIONAL SALES GROWTH IN 2010 (+25.4%)
HERMĒS EXCEPTIONAL SALES GROWTH IN 2010 (+25.4%) In 2010, the Hermès Group's sales came to 2,400.8m, a rise of 25.4% on the previous year., they advanced by 18.9%. The Group exceeded its sales growth target
More informationChina Premium Denim Jeans Market Research Report 2016
Published on Market Research Reports Inc. (https://www.marketresearchreports.com) Home > China Premium Denim Jeans Market Research Report 2016 China Premium Denim Jeans Market Research Report 2016 Publication
More informationYarn WINNING TOGETHER. Fabric. An Integrated Denim Manufacturer Partner to Global & Indian Brands. Garments
1 Yarn Garments Fabric WINNING TOGETHER An Integrated Denim Manufacturer Partner to Global & Indian Brands 2 WINNING TOGETHER An Integrated ODM Partner to Global & Indian Brands 521200 SLCM:IN SLCM:BO
More informationOverview of Taiwan Textile Industry 2013
Overview of Taiwan Textile Industry 2013 2014.04 A. Status of Taiwan Textile Industry At the beginning stage, Taiwan textile industry imported raw materials for processing and exported most of the finished
More informationHow Will The Trade Wars Impact Your Global (And Local) Sourcing Strategies
How Will The Trade Wars Impact Your Global (And Local) Sourcing Strategies Julia K. Hughes, President United States Fashion Industry Association (USFIA) February 5, 2019 fashion made possible by global
More informationMerrill Lynch Global Pharmaceutical, Biotechnology and Medical Device Conference
Merrill Lynch Global Pharmaceutical, Biotechnology and Medical Device Conference Peter R. Nicholson Vice President, Corporate Development February 9, 2006 Safe Harbor Statement This presentation contains,
More informationMy name is Kenichi Yamauchi and I am in charge of Accounting and Finance.
My name is Kenichi Yamauchi and I am in charge of Accounting and Finance. 1 I am going to briefly report on the business report and consolidated financial statements in the convocation notice that we have
More informationFirst Quarter of Fiscal 2017 Supplementary Material
First Quarter of Fiscal 2017 Supplementary Material POLA ORBIS HOLDINGS INC. Director and Vice President Management Planning, IT and Global Business Naoki Kume This report contains projections of performance
More informationLucite International Outline. August 7, 2009 Mitsubishi Rayon Co., Ltd.
Lucite International Outline August 7, 2009 Mitsubishi Rayon Co., Ltd. (1) Completion of Acquisition Proceedings 2 1. Completion of acquisition of shares (1) Date of acquisition: May 28, 2009 (2) Shares
More informationBajaj Corp Ltd 19 th March, 2012 BUY
Company Report BROKING DEPOSITORY DISTRIBUTION FINANCIAL ADVISORY Bajaj Corp Ltd 19 th March, 2012 BUY CMP Target Price Rs.115.00 Rs.145.00 Bajaj Corp is the third largest player in the overall hair oils
More informationIndian Eyewear Industry Report
2013 158 Pages For any queries or detailed information contact us on +91 22 2436 3161 /+91-22 60022001 or e-mail at research@reevolv.in Reevolv Advisory Services Private Limited Table of Contents Particulars
More informationSUCCESSFUL GROWTH C20+ REGNSKABSPRISEN, 2 JUN 2016 PANDORA A/S BY PETER VEKSLUND, EVP & CFO
SUCCESSFUL GROWTH C20+ REGNSKABSPRISEN, 2 JUN 2016 PANDORA A/S BY PETER VEKSLUND, EVP & CFO DISCLAIMER Certain statements in this presentation constitute forward-looking statements. Forward-looking statements
More informationBusiness Result. * Change due to reclassification account
Performance Summary The Company managed to record sales of Rp 2.08 tn or grew by 8.8% compared to same period in the preceding year. Domestic grew by 11.1% while export grew by 2.1%. Sluggish growth on
More informationDeep Dive: Channel Shifts in US Beauty Retailing Sephora, Ulta and Amazon Carving Greater Share
Deep Dive: Channel Shifts in US Beauty Retailing Sephora, Ulta and Amazon Carving Greater Share 1) Survey data and company results suggest that growth in the US beauty market has been polarized, with lower-price
More informationUMSL Case Study Competition. International Expansion Strategy
International Expansion Strategy 2015 The European Dilemma Tim Heard sits in his office at the headquarters of Brown Shoe in St. Louis MO. He just wrapped up an international strategy session with the
More informationBEAUTY / BEAUTY FEATURES RPG Teams With IMX, Auctions Personalization Patent Portfolio Starting at $500 Million
BEAUTY / BEAUTY FEATURES RPG Teams With IMX, Auctions Personalization Patent Portfolio Starting at $500 Million The portfolio contains 75 personalization and customization patents designed for the beauty
More informationFirst Half of Fiscal 2018 Supplementary Material
First Half of Fiscal 2018 Supplementary Material POLA ORBIS HOLDINGS INC. Representative Director and President Satoshi Suzuki This report contains projections of performance and other projections based
More informationConnecting Businesses
Arvind SmartSpaces Limited 24, Government Servant Society, Behind Citibank, C.G. Road, Ahmedabad - 380009. Gujarat. India. Tel: +91 79 3013 7100 E-mail: sales@arvind.in Website: www.arvindsmartspaces.com
More informationbebe Brand Concept satisfy the fashion needs of modern, sexy and sophisticated women
bebe Brand Concept satisfy the fashion needs of modern, sexy and sophisticated women Bebe woman: not defined by her look, but by her attitude: assertive, sexy, stylish, confident & cutting edge design,
More informationChina Textile and Apparel Production and Sales Statistics, Jul. 2014
China Textile and Apparel Production and Sales Statistics, 2013-2014 Jul. 2014 STUDY GOAL AND OBJECTIVES This report provides the industry executives with strategically significant competitor information,
More informationMAGIC Show, Feb , 2016 Las Vegas, USA
MAGIC Show, Feb. 16-18, 2016 Las Vegas, USA A Report by Sunanda Santappa, Asst. Director, CLE About the Show - MAGIC an acronym for the Men's Apparel Guild in California is a 83-year-old Trade Show that
More informationCALVIN KLEIN CELEBRATE SUMMER NOW. UP TO 60% OFF up to 60% off
ADIDAS BOGO 50% OFF Gear up on your favorites with BOGO 50% off! Valid from 05/04/18 to 05/23/18 CALVIN KLEIN CELEBRATE SUMMER NOW. UP TO 60% OFF up to 60% off CALVIN KLEIN CALVIN KLEIN Supports Susan
More informationCase Study Example: Footloose
Case Study Example: Footloose Footloose: Introduction Duraflex is a German footwear company with annual men s footwear sales of approximately 1.0 billion Euro( ). They have always relied on the boot market
More informationPorts Design Limited Bank of America Merrill Lynch China Investment Summit November 4-5, 2009
Ports Design Limited Bank of America Merrill Lynch China Investment Summit November 4-5, 2009 Ports Design Today Leading luxury brand manager in PRC. Brands include PORTS, BMW Lifestyle, Armani, Vivienne
More information4WHATITSWORTH GLOBAL SOURCING
4WHATITSWORTH GLOBAL SOURCING [ P R I V A T E L A B E L B R A N D E D D E S I G N P R O D U C T I O N] BACKGROUND 4Whatitsworth Global Sourcing specializes in the organic development and design of its
More informationPDS MULTINATIONAL GROUP
PDS MULTINATIONAL GROUP ABOUT PDS MULTINATIONAL Designing, supplying to the world s leading apparel retailers and brands. 190+ leading retailers & brands 50 offices in 18 countries HQ Hong Kong $1.2bn
More informationSTAR CONFERENCE. March 5-6 th, STAR Conference - Milan - March 5-6,
OTTOBRE JANUARY OCTOBER 2008 2007 2007 STAR CONFERENCE March 5-6 th, 2008 STAR Conference - Milan - March 5-6, 2008 1 001. MBFG 002. OPERATING & STRATEGIC HIGHLIGHTS FY 2007 INDEX 003. FINANCIAL HIGHLIGHTS
More informationGlobal Powers of Luxury Goods
Global Powers of Luxury Goods Shaping the future of the luxury industry Highlights Introduction to Global Powers of Luxury Goods While the global economy is currently enjoying a period of relatively strong
More informationFashion Designers
http://www.bls.gov/oco/ocos291.htm Fashion Designers * Nature of the Work * Training, Other Qualifications, and Advancement * Employment * Job Outlook * Projections Data * Earnings * OES Data * Related
More informationHERMĒS. In Japan, sales remained virtually stable over the year (-1%), despite the disaster at the beginning of the year.
HERMĒS STRONG SALES GROWTH IN 2011 (+18.3%) The Hermès Group reported 2011 sales revenue of 2,841.2 million, an increase of 18.3% on the previous year both at current and constant. The target for the year
More information100% LEADING THE CHANGE
100% LEADING THE CHANGE OVERVIEW VISION & STRATEGY 100% CIRCULAR & RENEWABLE 100% FAIR & EQUAL STANDARDS & POLICIES H&M GROUP SUSTAINABILITY REPORT 2017 16 OF 100 H&M. KEY FACTS & FIGURES / EXPLAINED /
More informationUS Denim Jeans Market Report
US Denim Jeans Market Report ----------------------------------------- 2014 Executive Summary The US apparel industry is large, mature, and highly fragmented. This industry has stretched the boundaries
More informationValid from 12/01/17 to 12/31/17. BARE + BEAUTY Save an EXTRA 20% on beautyfull
UPCOMING SPECIAL HOURS 12/18/2017 12/23/2017 9AM to 10PM 12/24/2017 12/24/2017 9AM to 6PM 12/25/2017 12/25/2017 9AM to 6PM 12/26/2017 12/30/2017 9AM to 9PM 12/31/2017 12/31/2017 9AM to 6PM 01/01/2018 01/01/2018
More informationSouth Pacific Apparel. Corporate Profile
South Pacific Apparel Corporate Profile LOCATION South Pacific Apparel s Australian headquarters is located within the heart of Sydney s fashion district, Alexandria. The state of the art premises features
More informationImpacts of Multi-Fiber Arrangement Removal on Textile & Cotton Trade
Impacts of Multi-Fiber Arrangement Removal on Textile & Cotton Trade Slide Presentation of a Poster Presented at the Annual Meetings of the Southern Agricultural Economics Association Orlando, Florida
More informationIndirect competitors influence hair styling sales
Analysis of the Brazilian hair styling products and sprays market Written by Ana Claudia Freitas and Danilo de Paula Factor de Solução/The Kline Group Latin America Brazil is one of the fastest-growing
More informationThe ultimate fashion destination - concept book
The ultimate fashion destination - concept book PREFACE Responding to the changing luxury market, this concept book serves as the basis for transforming NET-A-PORTER into brick-andmortar stores. This
More informationJUST GROUP ANNUAL GENERAL MEETING 2005 WEDNESDAY 23 NOVEMBER, 2005 JONATHAN PINSHAW, CHAIRMAN ADDRESS TO SHAREHOLDERS
JUST GROUP ANNUAL GENERAL MEETING 2005 WEDNESDAY 23 NOVEMBER, 2005 JONATHAN PINSHAW, CHAIRMAN ADDRESS TO SHAREHOLDERS Good afternoon Ladies and Gentlemen, Welcome to the Just Group s Annual General Meeting
More informationMehdi Mahbub CEO & Chief Consultant, Best Sourcing Founder, RMG Bangladesh GLOBAL TRENDS IN THE GARMENT SECTOR AND OPPORTUNITIES FOR BANGLADESH
GLOBAL TRENDS IN THE GARMENT SECTOR AND OPPORTUNITIES FOR BANGLADESH TECHNOLOGICAL CHANGES AND INNOVATIONS IN THE WORLD BANGLADESH READYMADE GARMENT INDUSTRY, the 2 nd largest apparel exporter of the world:
More informationSample provided by. Research enquiries: Liz Hague, Sales Manager. tel: +44 (0)
Sample provided by Research enquiries: Liz Hague, Sales Manager email: liz.hague@just-style.com tel: +44 (0)1527 573 604 US toll-free: 1-866-545-5878 fax: +44 (0)1527 577423 About the Report RNCOS "China
More informationIn early 2014, Mickey Drexler, CEO of J.Crew
CASE 14 J.Crew in 2014: Will Its Turnaround Strategy Improve Its Competitiveness? A. J. Strickland The University of Alabama In early 2014, Mickey Drexler, CEO of J.Crew Group, Inc., had some important
More informationGlobal Handbags Market
Global Handbags Market ----------------------------------------------------- 2014 Executive Summary Handbags and accessories are among the fastest growing segments in the overall luxury goods industry.
More informationRoo Hsing CO., Ltd. 7/31/2017
Roo Hsing CO, Ltd 7/31/2017 Contents Page Jeans are back to the fashion trend and dominate the market again 3 The market positioning of Roo Hsing company 8 4 big factors driving the growth 12 Continuous
More informationBecome a Fashion Designer
Get paid to design clothing! FabJob Guide to Become a Fashion Designer Peter J. Gallanis and Jennifer James Visit www.fabjob.com Contents About the Author...10 About the Contributing Authors...11 Acknowledgments...13
More informationAEROPOSTALE $5 off any pair of jeans Come shop our new Spring denim! Promotion code:
ADIDAS BOGO 50% Off Storewide Enjoy BOGO 50% off storewide through February 20th, 2018. Valid from 01/23/18 to 02/20/18 AEROPOSTALE $5 off any pair of jeans Come shop our new Spring denim! Valid from 01/22/18
More informationCase study example Footloose
Case study example Footloose Footloose Introduction Duraflex is a German footwear company with annual men s footwear sales of approximately 1.0 billion Euro( ). They have always relied on the boot market
More informationGlobal Mosquito Repellent Bracelet Market Research Report 2016
Published on Market Research Reports Inc. (https://www.marketresearchreports.com) Home > Global Mosquito Repellent Bracelet Market Research Report 2016 Global Mosquito Repellent Bracelet Market Research
More informationLVMH Q4 and FY 2005 Revenue (under IFRS) 19th January 2006
LVMH Q4 and FY 2005 Revenue (under IFRS) 19th January 2006 1 LVMH - FY 2005 revenue highlights Record revenues of 14 billion Double-digit 4th quarter and FY organic revenue growth Good revenue performance
More information2013 INVESTOR DAY JUNE 11, 2013
Steve Rendle - VF Corporation - Group President - Outdoor & Action Sports Americas Good morning, everybody. How are you? I have noticed there's a lot of BlackBerry and iphone activity going on. So I'm
More informationAn introduction to our most important customer the S.M.A.R.T. girl!!
getting to know the S.M.A.R.T. girl An introduction to our most important customer the S.M.A.R.T. girl The S.M.A.R.T. girl is our filter for all decisions, so it is very important that every associate
More informationCHAPTER Introduction
CHAPTER 1 1. Introduction This section will talk about the background of this research, the problem statement and the aim and purpose of this research. Also, a few literature review, the scope and method
More information