Billy Hazel
Jess A
Nhi Py
Ala Konturek
Hannnah P
Esprit Holdings Limited announced interim results for the six months ended 31 December 2010.
The Group recorded a turnover of HK$17.7 billion representing 1.6% top line growth in local currency driven by strong turnover growth of 5.9% in local currency in the second quarter and consolidation of the turnover from the China subsidiaries. Gross profit margin increased by 0.9% point to 55.6% benefiting from higher retail turnover contribution amounting to 56% of total group turnover.
The cash position remained strong at HK$7.3 billion as at 31 December 2010. The Board of Directors has declared an interim dividend of HK$1.00 per share (1H FY09/10: HK$0.74 per share) which is calculated based on the regular dividend policy of 60% of basic EPS.
Mr. Ronald Van der Vis, Group Chief Executive Officer, said "With the acquisition of the remaining equity interest in the former China Joint Venture, China is our new growth engine driving further expansion. China's turnover grew 3.2% year-on-year in local currency to HK$1.4 billion, with EBIT margin up 5.0% points year-on-year. China wholesale turnover showed 11% year-onyear growth.
"Following the successful integration phase, retail comp store growth returned to positive for the six months ended 31 December 2010. We are expanding our existing base of 169 cities as of 30 June 2010 to 183 cities as of 31 December 2010. Total number of POS increased by 7.6% from 931 as at 30 June 2010 to 1,002 as at 31 December 2010.
We are on an exciting journey to create a better and bigger ESPRIT. Our Six Strategic Initiatives are progressing well. New ideas have been developed and they are in the process of being implemented. This ranges from the sharpening of the brand position to create a clearer and consistent handwriting across our product collections, stores and communication, a new process of building our collections, a new sourcing strategy to achieve synergies and savings, as well as a new global, channel-based sales organisation to drive growth. Although not all results of our hard work are visible yet, we are confident to see the full benefits of our strategic agenda to materialise mid-term."
Mr. Fook Aun Chew, Group Chief Financial Officer, commented, "Despite the adverse weather conditions in Europe, the Group achieved 8.7% retail turnover year-on-year growth in local currency and an improvement in gross profit margin by 0.9% point to 55.6%. The Group continues to maintain a strong balance sheet position with cash and bank balances of HK$7.3 billion and a net cash position of HK$4.7 billion as at 31 December 2010."
The Board announces that Mr Heinz Jürgen Krogner-Kornalik ("Mr Krogner"), the Non-executive Chairman of the Board and Non-executive Director of the Company, has tendered his resignation with effect from 11 February 2011 due to his intended pursuit of other personal commitments.
Following Mr Krogner's resignation, Dr Hans-Joachim Körber ("Dr Körber) has been unanimously elected by the Board as the successor of Mr Krogner to act as the Independent Non-executive Chairman of the Board with effect from 11 February 2011. Dr Körber has been an independent non-executive director of the Company since May 2008. Dr Körber was the former chief executive officer of Metro AG for many years until his retirement in 2007. Under his guidance, Metro has grown to become one of the largest retailers in the world. Dr Körber is a well-known executive in the international commercial community with extensive experience in finance & accounting, controlling, logistics and IT, including 23 years experience in retailing.
Mr Krogner confirmed that he has no disagreement with the Board and there are no other matters with respect to his resignation that need to be brought to the attention of the shareholders of the Company.
The Board would like to take this opportunity to express its sincerest gratitude to Mr. Krogner for his valuable contributions to the Company's development and success during his tenure of office and to congratulate Dr Körber on the appointment.
In the past, it seemed that the concepts of glamour and comfort were mutually exclusive when it came to briefs, tops and bras. Women felt that they had to hide their practical, comfortable ‘passion killers’, whilst their more seductive, glamorous lingerie was unfortunately only worn on special occasions.
As far as modern lingerie is concerned, the boundaries between the functional, usually sporty, everyday collections and the high-end, exquisite ranges are increasingly disappearing. Glamorous lingerie should be, in fact must be, practical and vice versa – and this trend is encouraging textile machinery producers in particular to develop new machines.
KARL MAYER is catering for the demand for lace fabrics with light control by developing the JL 40/1 F. This new Jacquardtronic Lace machine produces fabrics for the lingerie and clothing sectors which, as well as offering a wide range of different patterns, also provide controlled compression. These beautiful, comfortable, light-control garments shape the body gently. They also fit perfectly and enable the underwear to be harmonised with the outerwear, without showing any lines or slipping.
The well-thought-out configuration of the JL 40/1 F is designed to meet the demand for combining design with function.
The configuration of the JL 40/1 F
This innovative machine developed by KARL MAYER was designed to cater for the functional lingerie sector with all the characteristic lace elements.
The newly configured bar arrangement on the JL 40/1 F Jacquardtronic machine enables stitch-forming lappings to be worked using the existing jacquard bar. In combination with the split yarn threading-in arrangement, ground structures having functional characteristics can be produced. Conventional ground structures typical of the narrow fabrics used in lace lingerie, can also be produced. Fine lace fabrics with functional, light-control characteristics can be produced by using the possibility of combining the potential offered by stitch formation with the split threading-in arrangement of the jacquard bars. The fine machine gauge of 28 needles per inch gives both the functional products and the lace fabrics, an elegant, ethereal, transparent appearance.
On the JL 40/1 F, the combination of the stitch-forming jacquard bar, 36 pattern bars and two ground bars for processing elastane is opening up completely new patterning possibilities for the designer and new applications for the textile market. Its high production rate, operating reliability and maximum flexibility also guarantee a high level of productivity for the user.
The technical features of this model are state-of-the-art. It is easy to operate and control all the various elements. Furthermore, the pattern bars, which are driven by servo motors, and the low maintenance requirements, are decisive factors for the drive concept used.
The latest technology, applications, and the overall direction of the technical textile and nonwovens industry will be presented by experts and leaders from around the world during Techtextil North America Symposium being held March 15 – 17, 2011 at the Mandalay Bay Convention Center in Las Vegas, Nevada.
The 2011 Symposium has been developed to meet the current strategies and goals of the attendees and exhibitors. The Symposium will now contain a more structured program allowing ample time for Q&A with the presenters both during and at the end of the sessions.
Held concurrently with the exhibition, the symposium will contain ten sessions with more than 40 presentations in a variety of formats that will cover a wide range of topics from high performance nonwovens, sustainable materials, military developments and research to medical textiles. There will also be two new sessions; the Executive Forum and Educational Forum.
"There's a lot going on in the western part of the U.S. involving technical textiles. Companies and institutions are exploring and utilizing high performance textiles and/or technology in some unique high performance areas,” comments Bill Smith, Symposium Director.
"We are excited about this year's Symposium in Las Vegas and presenting the latest technology to the west coast region. There are changes in the Symposium allowing attendees to spend more quality, in-depth time with the speakers as well as additional time for the exhibits. The sessions have been carefully chosen to reflect some of the interest we have noticed in the industry, and our speakers have been encouraged to present in a non-commercial and understandable format as well as focusing on information attendees can use more immediately; technology that can be applied to their products near term as well as for further exploration and development. This will be a great experience for the attendees."
Keynote Address – Jeremy Litchfield
Jeremy Litchfield launched Atayne in May 2007 to inspire positive environmental and social change through the power of active lifestyles. Atayne leverages groundbreaking technologies and uses “trash” (e.g. plastic bottles, coconut shells, crab shells, old garments) to design high performance outdoor and athletic apparel.
The keynote address will take place Tuesday, March 15th from
8:30 a.m. to 9:15 a.m. as the kickoff to the 2011 Techtextil North America event. The keynote address is open and free to all participating 2011 attendees and exhibitors.
Executive Forum
We know where we are, but where are we going? Designed for experienced professionals, a number of high ranking Industry executives will give their opinion on the technical textiles industry, how they are handling the recession and trends they may see. Get the benefit of their thoughts on the outlook for technical textiles and nonwovens from their perspective.
Extreme Outdoor
This session will focus on outdoor recreation/leisure, athletic applications, and protection from extreme elements. Developments in technology that greatly improve performance will be reviewed.
The textile and garment industry, which has been affected by the financial crisis, is facing a serious problem, predominantly in terms of production. People purchase very few garments and their demand is also low.
The overall scenario of the sector is really grim. With this in mind, the Regional Minister of Economy, Javier Guerra, has decided to submit a strategic plan for the textile and garment sector within a short period to the regional government.
The strategic plan will focus on the setting up of a business model for a cluster of small and medium sized enterprises similar to the one on which Inditex, the biggest company located in Galicia, is based and which had paved the way for its success at the global level.
The plan will be based on four courses of action: reinforcing the main industry and its ancillary industries, providing financial assistance to the sector, globalization of the industry to increase overseas business prospects and the setting up of a monitoring committee to supervise the functioning of the industry.
The regional government plans to boost up the cluster of textile and garment units, reorganize the sector both financially as well as structurally, invest capital, generate employment opportunities and set up combined business action plans to increase sales.
Besides, the administration in Galicia is also putting its efforts to make possible the inclusion of small as well as medium-skilled managers with experience in global trade in the sector. Apart from this, the domestic textile and garment sector can be promoted by endorsing the brand ‘Galicia’.
Though 100% cotton sheets and towels are mainstays in many homes, cotton also plays a surprising role in other products we use every day.
As the winter white sales get under way, cotton remains a key purchase driver; 96% of women say they have purchased cotton home textile products before, according to the Cotton Incorporated Home Textiles Survey.
"Cotton is a great choice for home textiles because it's comfortable and natural," says Jenna Caccavo, Product Trend Analyst, Cotton Incorporated. "Whether you're looking for bedding for your family, or prefer re-usable fabrics in the kitchen and bathroom, cotton makes sense throughout the home."
The bathroom tends to be the most cotton-centric room in the house; almost 8 out of 10 women say they prefer cotton towels, according to the Home Textiles Survey. Since cotton is a breathable fiber, it also makes a great choice for shower curtains.
"Consumers look to cotton for typical bath products like towels and swabs, but what they might not realize is that cotton cellulose is also found in some surprising things we use every day, like shampoo, nail polish, toothpaste, and even some LCD television screens," Caccavo says.
In the bedroom, cotton is ideal for sheets, pillowcases, bedspreads, and even curtains. Look for 100% cotton on the labels to ensure that you're getting a comfortable, durable, and easy-care product.
Cotton Lifestyle is a series of communications designed to highlight cotton's role in our everyday lives on an ever-changing variety of subjects. For more information, please go to Cotton Lifesyle
Cotton Incorporated, funded by U.S. growers of upland cotton and importers of cotton and cotton textile products, is the research and marketing company representing upland cotton. The Program is designed and operated to improve the demand for and profitability of cotton.
Cristal Global (Cristal) announced that it will increase prices by Yen 40/kg on all of its anatase and rutile Tiona and Cristal titanium dioxide (TiO2) products sold in Japan, effective February 1, 2011.
Cristal Global is the world's second-largest producer of titanium dioxide and a leading producer of titanium chemicals. Cristal Global operates eight manufacturing plants in six countries on five continents and employs nearly 4,000 people worldwide.
Our manufacturing and sales activities cover the world comprehensively, representing one of the industry’s most diverse global footprints. Cristal Global’s facilities are strategically located to enable reliable supply to customers worldwide.
Three bright fashion design talents have been chosen for the Fashion East AW11 show. Fashion East, champions of London’s brightest new talent, was launched in 2000 by The Old Truman Brewery and Lulu Kennedy. It has a proven track record for selecting visionary designers including Jonathan Saunders, Richard Nicoll, Roksanda Ilincic, Michael van der Ham and Gareth Pugh.
The AW11 show will take place in Topshop’s Show Space at London Fashion Week during February 18 – 23, 2011. The forthcoming line up sees the return of Simone Rocha, the womenswear debut of acclaimed menswear designer James Long, and one-to-watch newcomer Elliot Atkinson.
Mary Homer, M.D. of Topshop says “I am delighted that, sixteen seasons on, Topshop's support of Fashion East continues to evolve. For the second season running, the designers will have the use of Topshop's Show Space, giving these talented individuals the opportunity to show their collections on the world stage. I have no doubt that Simone Rocha, Elliot Atkinson and James Long will follow in the footsteps of previous recipients who have achieved critical and commercial success.”
Simone Rocha’s deconstructed tailoring is simultaneously strong and romantic, exploring the interplay between masculinity and femininity. Her “undeniably cool designs” (Elle) have “already begun making waves amongst retailers” (WWD). Her SS11 collection has been featured in French Vogue, V magazine, Dazed and Confused, Elle, Sunday Times Style, i-D, Wallpaper*, Twin Magazine and Russian Vogue.
For AW11, Simone has been inspired by her Portuguese family portraits from the 1920's, and Louise Bourgeois’ metal and textile sculptures. She is exploring new textures and fabrics and introducing knitwear to her collection for the first time. Her AW11 show will be styled by Celestine Cooney, fashion director at Twin.
Elliot Atkinson “is being touted by those in the know as the next It-boy designer” according to Sunday Times Style. Atkinson gained a BA in womenswear at Edinburgh College of Art, where he received the Waterman Fashion Illustration prize. Atkinson describes his signature as “tough but feminine, sexy yet nonchalant” and his debut collection was snapped up by Browns Focus.
Tailored clothes use fine, luxurious materials; delicate fabrics are punctuated by tougher textures such as metal fastenings, hardware, leather and shearling. For AW11, eclectic influences include ritualistic body piercing, Native American culture and the Scottish Highlands.
James Long graduated from the Royal College of Art with an MA in Menswear and Accessories, and has since become one of the most sought after new talents in London - heralded by Lanvin’s Lucas Ossendriver as his ‘favourite young designer’. Long debuted in 2007 at MAN, the Topman and Fashion East menswear initiative, to glowing reviews and support from leading figures Alister Mackie, Creative Director at Another Man and Style.com’s Tim Blanks. Long has gone on to become a NEW GEN-MEN award favourite and consultant for leather specialist Jitrois. Long’s signature look consists of utility wear, biker jackets, knits and tough leather accessories, executed with a romantic edge and sensitive detailing.
Long is launching his new womenswear line at Fashion East. This decision follows the high demand for his menswear pieces from buyers and female fans. His debut collection fuses gypsy and grunge with Arran style tasselled knits, layered to create a punk mountain style look. Ecru, camel, chestnut and midnight base notes are injected with sharp colour accents. 1970s gowns are teamed with alpaca knitwear, boucles with macramé detailing.
James counts Stevie Nicks, Joan Baez, Patti Smith, and Nancy Spungen among his favourite inspirational women. His AW11 show will be styled by his long-term collaborator Bryan MacMahon.
London Fashion Week (LFW) is one of the highest profile fashion events in the world and one of the ‘big four’ international catwalk influencers. The event is organised by the British Fashion Council (BFC) and funded by a number of sponsors (including Canon Europe current headline sponsor for seven consecutive seasons).
The British Fashion Council (BFC) announces that three designers Meadham Kirchhoff, Peter Pilotto and Todd Lynn will receive Fashion Forward sponsorship for two seasons to show at February 2011 and September 2011 London Fashion Week.
The Fashion Forward scheme sponsored by Coutts & Co and supported by the London Development Agency, was established 5 years ago to provide funding to talented emerging British designers to show and develop their businesses in London.
London Fashion Week is the most creative and dynamic event on the international fashion calendar promoting established and emerging British design talent to a global audience. Fashion Forward is a key BFC initiative to promote emerging design talent. The award provides the winner with a cash prize to showcase their collection and access to knowledge to develop their business.
Fashion Forward applicants are judged by a panel of experts including Caroline Rush, Chief Executive of the BFC; Alan Marshall, Coutts & Co; Anna Orsini, BFC Consultant; Averyl Oates, Harvey Nichols; Dolly Jones, Vogue.com and Sarah Mower, American Vogue and BFC’s Ambassador for Emerging Talent.
Previous Fashion Forward winners include Christopher Kane, Erdem, Giles Deacon, Jonathan Saunders, Louise Goldin, Marios Schwab, Richard Nicoll, Roksanda Illincic and Sinha-Stanic.
Caroline Rush, CEO, British Fashion Council, commented “This year’s Fashion Forward recipients are an incredible group of designers, watched each season by the world’s media and buyers as they build their brands. I am excited to see what the year ahead will bring for Edward, Ben, Peter, Chris and Todd and the collections that they will be showcasing at next month’s London Fashion Week. I thank our sponsors Coutts & Co and the London Development Agency for their continued support.”
Michael Morley, Chief Executive of Coutts & Co, commented "Coutts is thrilled to be sponsoring Fashion Forward, supporting London’s status as the hotbed of emerging talent. This sponsorship re-enforces our commitment to the world of contemporary creative industries, where the last few years have seen us enjoy highly successful relationships with fashion designers such as Stella McCartney and Oswald Boateng; and sponsorship of Matthew Williamson’s ‘10 Years in Fashion’ retrospective at the Design Museum and most recently Coutts London Jewellery Week.
"The UK is a world leader at creating new fashion designers and Coutts is determined to support this emerging talent with mentoring schemes, providing business acumen and training, and financial advice to support the next generation."
Winners Comments
Edward Meadham and Ben Kirchhoff said: “We are both pleased to have been awarded Fashion Forward. It is so important that young talent is appropriately supported in this industry and Fashion Forward gives us the opportunity to further develop our work in a relevant manner.
Peter Pilotto and Christopher de Vos said: “With ongoing support from the BFC and Coutts, Fashion Forward will help us reach the next level!"
Toddy Lynn, said “I am thrilled to have won Fashion Forward for 2011. This will be such a great support to me and my brand both in terms of financial sponsorship and building my business through the mentoring scheme. I am so excited to showcase my AW collection next month, and look forward to working with Coutts over the coming year.”
Overcoats and sweaters are an essential part of a spring wardrobe. If you are also on the lookout for coats, now it's your time. Recently DinoDirect introduced a double breasted button trench coat as the new arrival of 2011 Spring Outfit.
The double breasted button men trench coat is a kind of perfect wear for male this spring. Also, if you want to keep yourself warm as well as want to look stylish, you should surely visit the site to make the right decision.
"Unlike other coats, this trench coat is soft to touch and wear and is very comfortable all day long. Even though it is made up of thick material, the coat is still lightweight and super soft. The material used is cotton that is also shrink proof and offers superior warmth and comfort," said Alex Zhu, the product director of DinoDiret.
The usual colours in this are grey and black which makes you look slimmer. On top of that, it comes in with a belt for a slim fit on top of buttons. In fact a belted back puts a streamlined trendy angle on the traditional double breasted trench coats.
DinoDirect suggests some good tips that would help you to measure yourself for the right size before placing the order. And then there are enough images of the trench overcoat from every angle for you to make the right assessment of various products especially garments. It also specifies various guidelines on how to maintain cotton clothing and how to store them so that they are fit to use for the next winter season.
DinoDirect has been in business since 2009 and is committed to becoming the best reliable marketplace on the net through various means but mainly focussing on customer service and product quality. DinoDirect.com is an online shopping portal that promises to ship across its orders worldwide without charging anything from the customers. It conveniently ignores the price and distance and happily delivers the products to your doorstep in time along with a free gift to delight their valuable customers.
Plenty of creative types came out last night for the opening of fordPROJECT, a new gallery venture from Altpoint Capital Partners (the parent company of Ford Models), but catwalkers were not among them. Under the direction of Rahel Vancelette and Tim GoosSens, the new art space (which occupies two floors at the top of the venerable modeling agency's building on West 57th Street) is aiming to make a name for itself without milking the expected fashion tie-in. To that end, the inaugural exhibition, curated by Lara Pan, has a fairy-tale theme and includes works by Kenny Scharf and Paul McCarthy. But with curators Neville Wakefield and Joyce Varvatos at the helm of upcoming shows, it may be hard to keep the fashion crowds at bay.
David LaChapelle came by later in the evening, en route home to Maui from Singapore; his New York pit stop included talks with Lever House for a show of his work there in May. With him was Daphne Guinnness, who mentioned that she first liberated her trademark platforms from their heels during a shoot with LaChapelle in the Hawaiian jungle. "The heel kept getting stuck in the ground, so I broke it off," she explained. If LaChapelle, Guinness, and co. make a habit of art-watching at fordPROJECT, the models can’t be far behind.
