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Aiming at Rs 1200cr retail sales in 2 Himatsingka Seide's robust first half earnings run is expected to continue in the second and high growth in both profit and EBITDA is expected to continue, says Shrikant Himatsingka, Executive Director of the firm.
He was speaking after the company declared its secondquarter earnings. Sonia: After three quarters of a contraction in your topline finally this quarter you have seen a growth of about 3 percent odd. What kind of growth do you expect in the second half of the year? A: I think it has been a good quarter for us. We remain focused on sweating our assets across the manufacturing and distribution businesses of the group. We remain focused on strengthening our intellectual property platforms in the form of brands. We currently operate approximately 12 14 brands and we are focused on achieving Rs 1,200 crore from branded throughput over the next couple of years. So, we are really busy building these platforms, sweating assets focused on improving our return ratios and things like that. So, as far as this year is concerned, the momentum of the first half is likely to continue into second half (H2). Latha: What kind of revenue growth are you looking at for the year as a whole? A: I cannot specifically comment on the revenue growth for the year as a whole. However, as I said, the kate spade canada outlet sale kind of numbers we are seeing in the first half, that same momentum is likely to continue into the second half both from a standpoint of operating revenues and profitability. Sonia: Can you just give us some more details of the revenue growth in terms of geographies? Which geography is doing better between North America, Europe buy kate spade outlet and Asia and going forward as well what could the growth look like? A: North America is our largest market so we have a large position in that geography across the United States, Canada and Mexico. So, clearly for Himatsingka that is a very important revenue stream and therefore that will continue to be our largest market. We see some softness in demand in the European geographies and the Indonesian areas where we are present. So, North kate spade ladies bags America is the geography that will sort of lead the growth for us. Latha: Can you give us more colour on whether you expect the global growth or the lack of it to hit your revenues in the second half or later kate spade clearance and how much is your brands business, is that kind of insulated from global contraction simply because it is a sought after brand? A: That is right; the global demand in our industry is sort of stable. At this point, it is a very company specific game that is being played out as far as home textiles is concerned. In that space what we are doing is, as I said earlier, we are focused on enhancing our intellectual capabilities by increasing our brand portfolio. So, for example we have just signed on the Aeropostale brand earlier this year, we signed on the licence for the Kate Spade brand, we operate other marquee brands like Calvin Klein and Barbara Berry, Espirit amongst others. So, our brand portfolio for FY16 should be in the region of Rs 800 crore. We are looking to grow it to approximately Rs 1,200 crore over the next two years and this will help us get a good quality of shelf space in the markets that we operate. So, on one hand we are focused on enhancing our branded revenue streams.
On the other hand, earlier this year we announced our capex where we will be investing and increasing our manufacturing capacities. So we will be seeing that pan out over the next three years as well. So, that will take care of our manufacturing growth while we are also focused on enhancing our retail and distribution growth.
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