CHINA: OmniaLuo boosts Q1 net income to $0.5m
Women's apparel company OmniaLuo Inc has reported a five-fold increase in first quarter profit as the brand was rolled out to more stores.
Net income was US$0.5m for the quarter ended 31 March, compared to $0.1m in the prior year period.
China-based OmniaLuo reported revenues of $2.5m in the quarter, compared to $0.7m last time.
Revenue from sales to independent distributors rose to $1.7m from $0.5m as the number of stores carrying its lines increased from 92 to 135.
Revenue from sales at company-owned and co-owned stores for the quarter was $0.9m, up from $0.1m in the same period last year.
Chinese women's wear retailer OmniaLuo has announced the resignation of Michelle Liu as its CFO and the appointment of David Wang as her replacement....
Chinese luxury women's wear brand OmniaLuo is due to make its US debut today (12 September) at a New York Fashion Week event....
Chinese women's wear brand OmniaLuo Inc has nearly doubled its second quarter profit on soaring sales at its distributors and stores....
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