Goldwin Inc., the Japanese company that sells its eponymous ski wear and C3fit compression wear in the United States, reported net sales grew 4.6 percent to ¥57.4 billion ($522 mm) in fiscal year ended March 31.
The maker and distributor of performance athletic and outdoor apparel reported operating income of ¥2.41 billion ($22 mm), up 8.8 percent from fiscal 2013. Operating margin reached 4.2 percent, up 20 basis points. Net income rose 14.9 percent to ¥3.47 billion ($31.5 mm), or ¥59.6 per share.
Goldwin ended the year with cash and deposits of ¥4.53 billion ($38 mm) and merchandise and finished goods valued at ¥9.77 billion ($82 mm), down 2.6 and up 7.0 percent respectively.
Goldwin's guidance for fiscal 2016 calls for net sales and operating income to grow 1.0 and 3.6 percent respectively to ¥58.0 billion and ¥2.50 billion. The forecast calls for net income of ¥3.56 billion, up 2.6 percent.
While relatively unknown in America, Goldwin is among Japan’s 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.
