Goldwin Inc., which opened a U.S. subsidiary in 2013 to increase sales of its luxury ski apparel and C3fit compression wear, reported net sales of ¥15.6 billion ($151.5 mm) in the six months ended Sept. 30, up 3.7 percent from the same period in 2013.
For the six months ended Sept. 30, Goldwin reported a 1.6 percent increase in net sales, a 40.8 percent decline in operating income and a 24.4 percent decline in net income.
The Japanese maker and distributor of performance athletic and outdoor apparel reported gross profit after provisions for sales returns reached ¥6.59 billion ($64 mm), compared with ¥6.21 billion for the six months ended Sept. 30, 2013.
SG&A increased 4.9 percent to ¥5.26 billion ($51 mm), or 42.2 percent of net sales compared with 41.2 percent a year earlier. Operating income reached ¥1.07 billion ($10.4 mm), down 2.4 percent and net income of ¥815 million ($8 mm), down 11.9 percent.
Goldwin ended the period with cash and deposits of ¥5.46 billion and merchandise and finished goods valued at ¥12.9 billion, up 22.3 percent from a year earlier.
While relatively unknown in America, Goldwin is among Japans largest designers, manufacturers and distributors of premium athletic and outdoor apparel. In addition to its own brands, it has rights to more than two dozen brands in Japan, South Korea and other parts of Asia. It has distributed The North Face in Japan since 1978. It added licenses for Danskin, Filson, Fischer and Helly Hansen in the 1980s, Speedo in 2007 and Icebreaker in 2012. The company opened its U.S. subsidiary, Goldwin America, in 2013 and is currently pushing to expand distribution of its Goldwin ski apparel and C3fit compression apparel.
