NETHERLANDS: Tommy Hilfiger H1 sales soar 30.5%
Recent acquisitions and soaring sales in Europe have helped Tommy Hilfiger Group to a 30.5% jump in first half revenues.
The fashion retailer and lifestyle brand, which is owned by private equity firm Apax Partners, said total global sales rose to EUR755m (US$997m) for the six months to 30 September.
More than half of this growth (16.4%) was attributed to new business generated by two recently acquired former licensees - Tommy Hilfiger Footwear Europe and Tommy Hilfiger Japan.
Revenues were driven by Tommy Hilfiger's European division, where total sales rose by 25.9% to EUR390m.
The largest increase was seen in its wholesale operations, driven by continued growth in all regions and product groups, as well as the inclusion of European footwear sales.
Its retail business in Europe saw a 3.4% rise in comparable store sales and 6.2% overall compared to the prior year period.
The Amsterdam-based luxury firm said its total US sales were up 16.7% to $356m, helped by "significant growth" in its wholesale partnership with Macy's, which has been lined up as the exclusive department store retailer of Tommy Hilfiger men's and women's sportswear from autumn 2008.
Same-store sales in its US retail stores rose 6.0%, and total sales climbed 15.8%. The company is in the process of rolling out of new full price and outlet stores in the US.
Downsizing of the wholesale business in Canada meant that overall sales here were 1.9% below last year.
Sales in Japan are "developing as expected," Tommy Hilfiger said, adding that all licensing partners in Central and South America and the rest of Asia showed double-digit growth.
Tommy Hilfiger owns and operates around half its 850 stores around the world, with the rest operated by franchisees, distributors or licensees.
The firm is making a major push to expand its retail presence in the US, and is opening a global flagship store on New York's 5th Avenue next year.
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