Mavi reviews Q3 FY20 income of TL 827 mn


Mavi, Turkey’s main denims and attire model, has reported 2 per cent income development to TL 827.zero (Turkish lira) million in the course of the third quarter (Q3) FY20 ended on October 31, 2020, in comparison with the income of TL 808.1 million in the identical interval earlier fiscal. Firm’s revenue for Q3 FY20 elevated to TL 83.eight million (Q3 FY19: TL 63.four million).

 

“Within the first 9 months, our on-line gross sales grew by 113 per cent globally and 161 per cent in Turkey because of our personal channels coupled with market partnerships which have change into more and more diversified, particularly since Might. Because of this, the share of e-commerce in our complete gross sales rose to 11 per cent,” Cüneyt Yavuz, Mavi CEO, mentioned in a press launch.

 

Gross revenue for Q3 FY20 rose 2 per cent to TL 416.6 million (TL 407.7 million). Nonetheless, Mavi’s working earnings dropped 9 per cent to TL 129.zero million (TL 142.2 million). 

 

“The optimistic efficiency of our shops, which we reopened ranging from June 1 by implementing all well being measures for our prospects and staff with our ‘Individuals First’ strategy, led us to a interval of fast restoration,” Yavuz mentioned.

 

“Regardless of the unprecedented developments, we stayed on monitor with our 2020 technique and saved working, providing improvements to the purchasers and informing them with steady communication. We expanded the Mavi Black Professional assortment with Kivanç Tatlitug and Serenay X Mavi Icon assortment with new technical materials and informal jean matches, sustaining our development goal in girls’s and males’s market,” Yavuz mentioned within the launch.

Fibre2Fashion Information Desk (JL)

Mavi, Turkey’s main denims and attire model, has reported 2 per cent income development to TL 827.zero (Turkish lira) million in the course of the third quarter (Q3) FY20 ended on October 31, 2020, in comparison with the income of TL 808.1 million in the identical interval earlier fiscal. Firm’s revenue for Q3 FY20 elevated to TL 83.eight million (Q3 FY19: TL 63.four million).





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