It is exploring several possibilities for expansion, including acquiring rivals and brand extension in the fashion apparel, perfumery, beauty and wellbeing segments.
Voir, which retails women's fashion & casual apparels, shoes and accessories under the Voir, Soda and Applemints brands, said it is exploring several possibilities for expansion, including acquiring rivals and brand extension in the fashion apparel, perfumery, beauty and wellbeing segments.
The new brands can come from either its own in-house brands or brands of international or local fashion owners.
The new brands can come from either its own in-house brands or brands of international or local fashion owners.
Voir, which also retails the South China Sea, Noir and G & H brands, ventured into the food and beverage (F&B) industry as an extension to its fashion business, with the opening of its first Garden Lifestyle Store & Cafe outlet at 1Utama shopping centre in Petaling Jaya, Selangor, last year.
Voir is expecting an exciting year in 2011, as recent store openings have begun to show results and more new fashion stores and cafes are scheduled to open in the fourth quarter of this year.
In 2009 it made RM149.7 million in revenue. It is forecasting net profit to improve in 2010 from RM5.17 million in 2009, which took a hit because of write-offs for bad loans due to store closures and inventory shrinkage from housekeeping exercise.
Based on results in the first half ended June 30 2010, revenue rose by 18.44 per cent to RM73.81 million compared with RM62.32 million in the same period last year. Net profit in the first half increased to RM1.91 million from RM913,000 previously.
Voir is expecting an exciting year in 2011, as recent store openings have begun to show results and more new fashion stores and cafes are scheduled to open in the fourth quarter of this year.
In 2009 it made RM149.7 million in revenue. It is forecasting net profit to improve in 2010 from RM5.17 million in 2009, which took a hit because of write-offs for bad loans due to store closures and inventory shrinkage from housekeeping exercise.
Based on results in the first half ended June 30 2010, revenue rose by 18.44 per cent to RM73.81 million compared with RM62.32 million in the same period last year. Net profit in the first half increased to RM1.91 million from RM913,000 previously.
Going forward, Voir is looking at expansion both in its fashion and F&B business.
In 2010 and 2011, Voir plans to invest between RM8 million and RM10 million on outlet expansions, excluding stock.
As at June 2010, Voir operates 37 fashion mono-brands, seven galleries (multi-brands), 375 consignment counters and two cafes.
The company is banking on its F&B division to contribute up to a tenth of group revenue in the financial year ending 2011.
Voir hopes that in 2011, export contributions will be about 3 per cent to 4 per cent of total revenue and it could take at least five years from now for exports to contribute about 10 per cent of total sales.
Currently, the Voir brand is the group's biggest contributor, making up 43 per cent of total sales, followed by Soda (26 per cent) and Applemints (11 per cent).
The company is banking on its F&B division to contribute up to a tenth of group revenue in the financial year ending 2011.
Voir hopes that in 2011, export contributions will be about 3 per cent to 4 per cent of total revenue and it could take at least five years from now for exports to contribute about 10 per cent of total sales.
Currently, the Voir brand is the group's biggest contributor, making up 43 per cent of total sales, followed by Soda (26 per cent) and Applemints (11 per cent).
6 comments:
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