The world’s most iconic light luxury class listed companies, including British Mulberry replica, American Coach and Michael Kors, Coach of the fiscal year in which the latest was early in July 2013 to the end of June 2014, two other companies for the latest fiscal year 2013 In early April 2014, the end of March, the paper in 2013 on behalf of a unified recent fiscal year, fiscal year 2012 represents a.
The three companies have substantially the same product lines, including handbags, leather accessories, clothing, footwear, including replica handbags Mulberry recent fiscal year, sales revenue accounted for 75% of total revenue, Coach ladies handbag sales only accounted for a total of 55%.
As of this writing (August 25, 2014), the total market capitalization of the three companies is the largest Michael Kors, reached $ 16.89 billion, Mulberry cap with two other companies are not at the same level, only $ 740 million.
Although Coach of total revenue, EBITDA and net profit is higher than the absolute value is still a rising star in Michael Kors, but because of the 2013 performance (especially the North American market) up sharply, leading to sharp drop in market capitalization, a significant jump significantly behind the performance of Michael Kors – The latter is mainly due to increase brand awareness of, and violent expansion of global sales channels. Mulberry is wrong because the previous management to improve product quality, closer to pure luxury, resulting in declining sales. Currently, the new management has returned to light extravagant track.
Despite the results of the recession, Coach’s gross margin remains the highest in three; but the Michael Kors’s EBITDA / total revenue and net profit margin levels are the highest. Although the margin is not low, but the limited scale of operation Mulberry replica handbags, low operational efficiency. From inventory management perspective, Micheal Kors is the most efficient, the number of inventory turnover days 365 * Average inventories / sales cost formula to calculate only 98 days.
From the point of view of geographical distribution of sales: three companies are the most emphasis on the local market. Michael Kors sales in the local market (North America) ratio up to 83.7% of the total, after continuous high-speed growth, but also close to saturation, is currently the focus turned to growth in Europe and Asia-Pacific emerging markets.
Finally, to see the situation change three companies in terms of number of stores: the number of stores has weak growth cheap Mulberry replica, Coach has begun to reduce the number of stores in North America, a substantial increase in the number of Michael Kors stores, it shows the rapid expansion of ambition, in keeping same-store sales growth at the same time, indeed effectively boosted the total revenue growth.