UCW plans to adapt & survive

SYDNEY: Home shopping apparel company Undercoverwear (UCW) has posted full year profits after tax of $3,649,942 for the year ended June 30 2008, representing an 11 per cent decline on the previous year's results. Citing "extremely challenged" trading conditions and "significant deterioration in consumer confidence", the company also attributed its troubles to "a steady decline in the consultant base over recent years, as families have benefited from [...] near to full employment rates around the nation."

A results statement from UCW released on August 28 confirmed its board and management had initiated a number of programs to counteract current challenges. These included cost cutting measures and a focus on growing the business through innovative product concepts including a new 'Mix & Match' wardrobe planning service.

To boost the recruitment of new consultants, the company had also rolled out a TV advertising campaign from July. Carrying the theme of "Love fashion, love life, love Undercoverwear," the promo was designed to increase brand awareness in the Australian market.