SYDNEY: Speciality Fashion Group has announced a rise in net profit for the financial year to June 30, 2010 and the acquisition of a new underwear brand licence.
The apparel company has experienced a 35 per cent growth in its full year net profit to $30.4 million and an EBITDA of $60.1 million, up 17 per cent on the previous corresponding year.
Specialty Fashion Group chief executive officer Gary Perlstein said the group experienced strong sales growth in the first half of the year, but was challenged in the second half.
It has also announced a ten year licensing agreement with international company Limited Brands, to operate the La Senza label in Australia and New Zealand.
La Senza is the sister brand of Victoria’s Secret underwear.
It will take over the operation of four La Senza stores in Sydney from its current operator and intends to introduce ten new stores in the current financial year.
Speciality Fashion Group operates womenswear brands including Millers, Crossroads, Katies, Autograph, City Chic and Queenspark. It has 837 stores nationally.
La Senza: New addition.
