US: NexCen unveils four-pronged 2009 strategy
NexCen Brands has unveiled a four-fold company strategy for 2009 centred on the management of its franchised consumer brands.
Updating on the progress of the company's wholesale restructuring, NexCen said it expected to be able to file an amended Annual Report to the SEC by 31 March, including a restatement of its 2007 financial results, plus its overdue 2008 quarterly and annual reports.
CEO Kenneth J Hall pointed to a number of recent measures designed to place the company on a more solid financial footing, including the sales of its Waverly and Bill Blass businesses, improvements to cash flow, strengthening of its corporate infrastructure and initiatives to grow franchised brands.
For 2009, NexCen will focus on four main strategic aims: strengthening its brands, integrating its brands, increasing the profitability of franchisees and leveraging its franchising platform.
Among the specific measures unveiled are the implementation of a new training platform for franchisees of sports retail business The Athlete's Foot, and the further expansion of the Shoebox footwear chain domestically and internationally.
"Our mission to become a leader in the global management of franchised consumer brands remains unchanged," said Hall. "As we move forward, we are focused not only on strategies to weather the current challenging economic environment, but also to position the company for long-term growth when the economy improves."
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