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Published
Jun 15, 2017
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Global Brands posts fiscal year revenue jump, aims for $5 billion in revenue by 2020

Published
Jun 15, 2017

Global Brands Group reported on Wednesday its fiscal year results for the year that included a new footwear partnership with Katy Perry, a partnership with Sean John, the sale of Frye to Authentic Brands Group, and the addition of a US license with Kenneth Cole.


The Juicy Couture Black Label that Global Brands Group launched at Bloomingdale's in June 2016. - DR

 
The company also announced on Wednesday a new three-year plan intended to bring growth and reach the goal of $5 billion in revenue by 2020. The plan, which includes total margin improvement by 150 basis points and increasing EBITDA by 50%, builds on the past three financial years where Global Brands delivered 5.8% compound annual growth in revenue, 9.0% core operating profit, 8.7% in EBITDA, and a total margin percentage increase by over 500 basis points.
 
Net revenue for the year increased by 11.6% to $3,891 million, driven by the kids segment that increased 3.9% to $1,603 million and the footwear and accessories segment that increased 5.6% to $1,281 million. The men’s and women’s fashion segment increased the most out of the three by 31.5% to $820 million.

Total margin as a percentage of net revenue increased to 36.4%. Operating costs increased to $1,242 million due to investments in brands and the addition of new licenses, and operating profit and net profit attributable to shareholders posted increased 64.5% to $173 million and 89.4% to $90 million, respectively.
 
Adjusted net profit attributable to shareholders increased 49.4% to $72 million and EBITDA was $380 million compared to $301 million in the prior year.
 
Global Brands at the beginning of its new fiscal year reached a deal with Marquee Brands and BCBG to save the ailing retailer. As per the agreement, Global Brands take leadership of BCBG’s wholesale, retail and online operations, as well as lead marketing, sales and distribution for the retailer.

The company plans to expand BCBG’s footwear, belts, hosiery, jewelry and home offerings.
 

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