KMD Brands have released it's Q3 results with the group experiencing another quarter of YoY sales growth across all three brands.
KMD Brands experienced 15.6 percent sales growth in Q3, with a YTD growth of 27.7 percent overall. The group’s best growing brand was Oboz, which was acquired in 2018. It experienced 120.3 percent sales growth in Q3, with a YTD growth of 122.7 percent. Rip Curl, acquired in 2019, experienced 7.9 percent growth for the quarter, 15 percent YTD. KMD’s signature brand Kathmandu saw 11.3 percent growth with a YTD 36 percent.
“We are pleased to report that Rip Curl, Kathmandu, and Oboz have achieved another quarter of year-on-year sales growth,” said Group CEO & Managing Director Michael Daly. “We now begin our key Kathmandu winter and Northern Hemisphere summer trading periods. The Group is well positioned to benefit from the return of international travel and tourism and is continuing to invest in the long-term international expansion of our brands.”
KMD Brands operate over 300 stores globally, and its brands are sold in over 8,500 locations. In Australasia, the trading update identified that in the year to date, KMD Brands has made $700m in sales, 80 percent of which were in Australia. Across Australasia, KMD Brands boast 266 owned stores, 52 licensed stores, and over 900 wholesale doors.
In the trading update, KMD Brands also highlighted that it had completed its NZ$310m sustainability linked revolving facility syndication. The sustainability aspect of the new facility is underpinned by material metrics and targets of the group such as reducing greenhouse gas emissions, continued B Corp certification, and improving transparency around the wellbeing and labour conditions of workers in the supply chain.
As announced earlier this month, KMD Brands will be welcoming Megan Welch as CEO of Kathmandu in August to continue its vision of profitability, growth, and sustainability.
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