US: Horiyoshi Worldwide H1 revenue increases
Horiyoshi Worldwide has said that it saw an increase in first-half revenue as the brand worked on further building brand recognition, developing its distribution capabilities and designing innovative new products.
The luxury clothing and accessories brand said revenue increased 76% over the first half, and that it expects revenue for the first nine-months to increase 29% over the same period last year.
"With our current product line there is a great deal of seasonality in our reported revenues and earnings," said CEO Mitsuo Kojima. "As we develop our new product lines this seasonality will fade and we will be in a position to build on every quarter. Our company continues to assemble the infrastructure necessary to create a dynamic platform for growth. We have received a great deal of attention for our design innovation and the quality of our clothing and strongly believe that the goodwill we have created will open doors for our new product lines. Our company also continues to develop a number of new channels to distribute our collections and increase recognition of the Horiyoshi brand. We believe in the coming quarters there will be many new opportunities and we are positioning our company in every way to take advantage of them".
The company said that it will focus its growth on significantly larger markets, and announced plans to launch its first retail store in the UK, which is set to launch in September. It also revealed plans to roll out its Heroes and Demons line, which will target mass market distribution and said it plans to grow its online store during the third-quarter and future quarters.
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