IC Companys news and archive

IC Company’s Q1 revenues marginally up by 1 percent

REPORT_ Group revenue was 828 million Danish Krone (138.4 million dollars) in the first quarter of 2014/15, an increase of 1 percent or 3 percent in local currency compared to the same period last financial year. Revenue increased for all three premium brands by a total of 7 percent in local currency, which more than outweighed revenue decrease...

Fashion

IC Company, now IC Group, reports 6 percent rise in FY14

REPORT_ Consolidated revenue of IC Companys, now IC Group, from continuing operations for the financial year 2013/14 amounted to 2,563 million Danish Krona (442.2 million dollars) corresponding to an increase of 6 percent. Operating profit of continuing operations for the financial year 2013/14amounted to 221 million Danish Krona (38.1 million...

Fashion

IC Companys reports revenue rise of 6 percent in FY14

REPORT_ Consolidated revenue of continuing operations for 2013/14 amounted to 2,563 million Danish Krone (455.3 million dollars) corresponding to an increase of 6 percent compared to 2012/13 and consolidated operating profit amounted to 221 million Danish Krone (39.2 million dollars).Consequently, Management has proposed that an ordinary...

Design

IC Companys joins the Leather Working Group

IC Companys, parent company of fashion labels By Malene Birger and Tiger of Sweden, has joined the likes of LVMH, Burberry and Mulberry in becoming part of the Leather Working Group (LWG), to work together on developing feasible solutions to the environmental challenges that occur within the leather supply chain. IC Company states that they are...

Fashion

IC Companys sells off its mid-market segment

IC Companys announced on Thursday the impending sale of its mid-market division, which included four labels; InWear, Matinique, Part Two and Soaked in Luxury as well as the store concept Companys, to Danish fashion company DK Company for 50 million krone (5.5 million pounds) and a 10.11 percent minority share in the company, (equal to 29 million...

Design

IC Companys reports decline in H1 revenues

REPORT_ Announcing its financial results for the first half of fiscal year 2013-14, IC Companys reported that its consolidated revenue from continuing operations amounted to 1,775 million Danish krone (321.4 million dollars) which is a decline of 10 million Danish krone (1.8 million dollars) compared to the first half of 2012/13. The premium...

Fashion

Founder of By Malene Birger to step down

Danish designer and founder of the fashion label By Malene Birger, has announced that she will be stepping down from her role as lead creator. Malene Birger will stay on for the next few months and mentor the current design and creative teams at the eponymous fashion label before focusing on developing future creative projects for her new design...

Design

IC Companys Q1 gross margin down 1.3 percent

REPORT_ IC Companys gross margin amounted to 56 percent for the first quarter of 2013-14 compared to 57.3 percent for the first quarter last year. This decline is partly attributable to a higher exchange rate of the group’s primary sourcing currency compared to last financial year. Revenue from the premium outdoor segment, which comprises the...

Design

IC Companys FY ’12/13 revenue up 1 percent

REPORT_ IC Companys consolidated revenue for 2012-13 showed an increase of 1 percent compared to 2011-12. Consolidated revenue for the fourth quarter of 2012-13 grew 10 percent compared to the fourth quarter of 2011-12. The Group realised an EBIT margin of 4.7 percent this year compared to 5.9 percent last year. The gross margin increased by 0.7...

Design

IC Companys’ Q3 gross profit down by 3.1 percent

IC Companys’ gross profit in the third quarter declined by 3.1 percentage points compared to last financial year. The interim report for Q3 reported a solid cash flow despite challenging market conditions. Gross profit amounted to DKK 568 million (DKK 638 million for the third quarter last year). The group thus generated a gross margin of 54.9%...

Fashion

InWear CEO gone after just a year

Thomas Ulstrup, CEO at the Danish clothing label InWear since the summer of 2007, has had to leave his position. The news came as a complete surprise to the Dane. "I certainly wasn't expecting them to tell me that I was no longer InWear's Managing Director." Ulstrup feels his departure is down to 'sudden changes in the company', but exactly what...