NewBalcanceCEO leaves, as well as Coach, L’Oreal, UnderArmour, Taiping Bird, Hailan House, etc.

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Daily Morning Post and Public opinion of Fashion Industry executives

01

Tapestry Group’s first quarter turnaround Core Brand Coach12 will do Show in Shanghai

In the three months ended Sept. 29, Coach parent Tapestry Group’s sales rose 7.2 percent to $1.38 billion from a year earlier, same-store sales rose 4 percent, and net profit returned to a profit of $122 million from a year earlier of $17.7 million. Both exceeded market expectations.

Chief Executive Officer VictorLuis said in its earnings report that since the acquisition of KateSpade and renamed Tapestry, the group has realized the benefits of a diversified brand matrix, in which core brand Coach’s same-store sales have continued to grow in synergy. KateSpade also contributes to the group’s overall performance.

To attract more Chinese consumers, Coach will host a series of early autumn shows on December 8 in Shanghai’s Bund, with the theme “CoachLightsUpShanghai”. It is worth noting that this is the first Coach show in China to mark the 15 anniversary of Coach ‘s landing in the Chinese market.

Tapestry shares rose 5.5 percent to $43 after the results, and are now worth about $11.8 billion.

02

driven by high-end beauty business L’Oreal Group’s third-quarter growth rate hit a 10-year high

In the three months to Sept. 30, L’Oreal, the world’s largest cosmetics group, rose 7.5 percent to 6.47 billion euros from a year earlier, well ahead of analysts’ forecast of 5.9 percent, a 10-year high. Of these, same-store sales in the luxury sector increased by 15.6m, same-store sales in the active cosmetics sector increased by 13.1m, consumer goods increased by 2.3%, and sales in the specialized products sector increased 1.5% from the same period last year.

On a regional basis, L’Or é al Group recorded the most significant growth in the Asia-Pacific region, including China, with 25.8 percent. In emerging markets, it also recorded strong double-digit growth for the fifth consecutive quarter, with a growth rate of 17.1 percent. Sales in Western Europe fell by 0.7%.

In the first nine months of this year, L’Oreal ‘s sales rose 6.8 percent to 19.86 billion euros from a year earlier. as of Tuesday’s close, the group’s shares fell 0.9 percent to 186.4 euros, with a market value of about 104.3 billion euros.

03

UnderArmour third quarter earnings beat expectations shares jumped nearly 28%

UnderArmour ‘s profit rose to $75.3 million, or 17 cents a share, from $54.2 million in the reporting period, up from $54.2 million a year earlier, and revenues rose 2 percent to $1.44 billion, both beating market expectations. North American revenues fell 1.6% to $1.06 billion from $1.08 billion the year before.

By category, footwear revenues were flat at $285 million, while accessories revenues fell 6 percent to $116 million, as outdoor and training sales fell, while clothing revenues rose 4 percent to $978 million. Thanks largely to growth in sales of training, golf and team sports. UnderArmour shares jumped 27. 718 percent to $23. 23, or about $9.9 billion, after the results.

04

Taiping Birds net profit soared nearly 70% to $280 million in the first three quarters

In the first three quarters ended Sept. 30, sales of Taiping Birds, the domestic clothing group, rose 13.14% to 4.888 billion yuan from a year earlier, while net profit jumped 69.72% to 282 million yuan. By the end of the reporting period, the group had 4, 431 outlets, an increase of 6. 18 from the same period last year, of which 1407 were self-owned stores, 3007 were franchises and 17 were joint ventures.

05

Hailan Family net profit in the first three quarters only increased by 4% share price tumbled by more than 7%

In the first three quarters ended Sept. 30, Hailan’s operating income rose 4.53% to 13.042 billion yuan, while net profit rose 4.66% to 2.628 billion yuan. Among them, offline sales rose 2.9% to 11.969 billion yuan, accounting for 93.92%.

According to the brand, the main brand revenue of Hailan family increased 3.97 compared with the same period of last year; the revenue of Aju rabbit rose 55.52, but the cost of main business increased 79.39% compared with the same period of last year, the revenue of Saint Keno declined 10.68% year on year; Revenue from other brands fell 15.55% from the same period last year. The company’s shares plunged more than 7 per cent to 7. 69 yuan yesterday after the results were released, with a market capitalisation of about 34.5 billion yuan.

06

Colis’s acquisition of three brands has outstripped its core brand, Ellassay

In the third quarter of 2018, sales rose 25.8% to 1.736 billion yuan from January to September this year, while net profit rose 32.58% to 268 million yuan from the same period last year. In the third quarter, net profit rose 33.21% to 107 million yuan in the third quarter, which has achieved positive growth for 8 consecutive quarters. From the perspective of revenue composition, the proportion of new brand revenue has exceeded 50%, becoming the new performance growth point of GE Li Si Group.

Among them, the core women’s wear brand Ellassay increased its operating income by 9.8 percent to 711 million yuan from the same period last year, the German premium women’s wear brand Laur è l’s business income increased by 20.3percent to 76.4532 million yuan, and the operating income of the EdHardy series brand increased 20.82 percent to 380 million yuan. French designer brand IRO revenue rose 54.55% to 412 million yuan.

07

Larshabel’s net profit plunged nearly 30% in the first three quarters

In the first three quarters of 2018, Rashabel’s revenue fell 0.5% to 6.2 billion yuan, while net profit fell 29.58% to 239 million yuan. In its financial statements, the group said the decrease in revenue was mainly due to the adjustment of the over-counter channels of the women’s wear Puella and LaChapelle brands and the optimization and upgrading of the products, while the decline in net profit was due to the decline in gross margin of sales and the increase in the losses of the new brands during the incubation period

During the period, the women’s wear Candie’s brand, the men’s wear (JACKWALK, Pote, MARCECK) brand and the children’s wear 8 é M brand performance continued the positive situation, the income increases 21.96%, 17.97% and 96.43% respectively.

08

Brands complete Sale of parts of clothing and Accessories in North America share prices are up more than 15%

The bid brand said in a statement on Oct. 30 that the deal had been delivered on October 29, 2018, for cash income of $1.2 billion, or the estimated purchase price of the transaction, in connection with the proposed sale of parts of the North American clothing and accessories business. It is reported that the bid brand for the sale of their children’s clothing in North America, accessories, as well as the West Bank of the United States and Canada’s fashion business. After the announcement, the shares of the bid brand rose 15.28 percent to 0.415 Hong Kong dollars, the current market value of about 3.55 billion Hong Kong dollars.

09

Vans parent company Weifu Group sells Reef

According to foreign media reports, Vans parent company Weifu Group has sold its shoe brand Reef to US shoe manufacturer RockportGroup, terms of the deal has not been disclosed. Weaver has been restructuring its brand strategy since 2017 to optimize the group’s performance, splitting up jeans brands Wrangler and Lee into an independent public company in August and acquiring New Zealand Outdoor Icebreaker in the first quarter. On Friday, the group reported second-quarter results, which were driven by Vans,TheNorthFace and Timberland, which beat expectations and raised its full-year revenue forecast to $13.7 billion from $13.6 billion. ( related reading )

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