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Despite a still complicated context of the pandemic, the brands are nevertheless managing to adapt and bounce back from a rather evolving period. Rémi Cointreau, The RealReal and PVH, owner of Calvin Klein and Tommy Hilfiger, are examples of this, thanks to results that exceeded objectives and expectations.
French spirits group Rémy Cointreau has published higher annual results despite the pandemic. The group believes it has emerged stronger from the health crisis with profitability close to its historical highs. For its 2020-2021 financial year ending at the end of March, Rémy Cointreau achieved a net profit, group share, of €144.5 million, up 27.5% as published. In addition, the group announced that it wanted to conquer new market shares, particularly on the Asian and American markets. This is due to the acceleration of Asian and American consumption of high-end alcohol.
It should be remembered that The RealReal is an online marketplace and “Brick and Mortar” specialising in the resale of authenticated luxury goods. Its business model is based on the circular economy, with The RealReal offering clothing on consignment, fine jewellery, watches, fine art and interior design.
The Real Real disclosed that gross merchandise volume (GMV) for the three months to 31 May 2021 was approximately $239 million, an increase of 106% year-on-year and 53% compared to the same period in 2019. In addition, the average order value (AOV) since the beginning of the quarter was approximately $520, an increase of 26% year-on-year and 13% compared to the same period in 2019.
For its part, PVH has just announced results that exceeded expectations in the context of the health crisis. PVH reported a net profit of $99.9 million, or $1.38 per share, in the first quarter of its fiscal year, compared to a loss of $15.37 per share a year earlier. Revenue jumped 55% to $2.08 billion and online sales soared 95%, which can be explained by the closure of physical shops.
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Despite a still complicated context of the pandemic, the brands are nevertheless managing to adapt and bounce back from a rather evolving period. Rémi Cointreau, The RealReal and PVH, owner of Calvin Klein and Tommy Hilfiger, are examples of this, thanks to results that exceeded objectives and expectations.
French spirits group Rémy Cointreau has published higher annual results despite the pandemic. The group believes it has emerged stronger from the health crisis with profitability close to its historical highs. For its 2020-2021 financial year ending at the end of March, Rémy Cointreau achieved a net profit, group share, of €144.5 million, up 27.5% as published. In addition, the group announced that it wanted to conquer new market shares, particularly on the Asian and American markets. This is due to the acceleration of Asian and American consumption of high-end alcohol.
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Despite a still complicated context of the pandemic, the brands are nevertheless managing to adapt and bounce back from a rather evolving period. Rémi Cointreau, The RealReal and PVH, owner of Calvin Klein and Tommy Hilfiger, are examples of this, thanks to results that exceeded objectives and expectations.
French spirits group Rémy Cointreau has published higher annual results despite the pandemic. The group believes it has emerged stronger from the health crisis with profitability close to its historical highs. For its 2020-2021 financial year ending at the end of March, Rémy Cointreau achieved a net profit, group share, of €144.5 million, up 27.5% as published. In addition, the group announced that it wanted to conquer new market shares, particularly on the Asian and American markets. This is due to the acceleration of Asian and American consumption of high-end alcohol.
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