Building the U.S. Business Platform and Strengthening the U.S. Brand Portfolio

「Revenue in Southeast Asia increased as a result of new store openings, but total overseas revenue declined 11.4% due to the impact of exiting the US business in July 2025.」

「直近3ヵ月の実績である6-8月期(2Q)の連結経常利益は前年同期比27.5％増の30.1億円に伸び、売上営業利益率は前年同期の3.3％→4.0％に改善した。」

「In the US, the transfer of the equity interest in Velvet,LLC, the group's US operating subsidiary and sub-subsidiary, was completed on 25 July 2025, and the group exited the business. As a result, revenue in the US business declined 44.3%.」

「In the US, where withdrawal had been decided, sales declined 12.0% as weakness in the wholesale business continued. In addition, the transfer of the equity interest in Velvet, LLC, the US operating subsidiary's sub-subsidiary, was completed on 25 July 2025.」

「We determined that an early recovery in the performance of the United States business would be difficult and decided to strategically withdraw from the United States business in order to concentrate global business resources in Southeast Asia, where strong population and economic growth are expected.」

「Overseas sales, translated into yen, increased 9.1% year on year in mainland China, where e-commerce performed well despite the impact of the property downturn and weak consumer spending. Sales in Hong Kong and Taiwan increased 26.9% and 30.3%, respectively, supported by strong performance under the multi-brand strategy and new store openings. Sales in the United States declined 0.2% because of weak performance in the wholesale business. Thailand, where operations began in the second quarter of the previous fiscal year, reported a 70.2% increase in sales, including the net increase in the first quarter, and total overseas sales increased 14.8%.」

「In the US, sales declined 5.4% due to weak performance in the wholesale business.」

「Overseas revenue on a yen basis increased year on year by 73.7% in mainland China, 26.0% in Hong Kong and 46.4% in Taiwan, due to the recovery from the impact of COVID-19 and contributions from new store openings. In Taiwan in particular, an increase in new store openings in line with the multi-brand strategy contributed to higher revenue, while existing stores also grew. In the US, the wholesale business slowed from the second quarter onward amid uncertainty about the economic outlook, but revenue increased 3.5% for the cumulative period. As a result, total overseas revenue increased 30.0%. In Thailand, the first store opened in the first quarter, marking the start of operations.」

「Overseas sales, translated into yen, increased year on year by 91.6% in mainland China, 29.8% in Hong Kong and 50.1% in Taiwan, supported by recovery from the impact of COVID-19 and contributions from new store openings. In Taiwan in particular, new store openings in line with the multi-brand strategy contributed to higher sales. In the United States, the wholesale business slowed from the second quarter onward because of concerns about the economic outlook, but sales increased 5.9% for the cumulative period. Total overseas sales increased 33.2%. The company also began operations in Thailand in the first quarter.」

「Overseas sales, translated into yen, increased 126.5% year on year in mainland China because of the impact of COVID-19 in the previous year and contributions from newly opened stores. Sales in Taiwan increased 51.2% because of the impact of COVID-19 in the previous year and new store openings in line with the multi-brand strategy. In the United States, the wholesale business slowed somewhat amid concerns about the economic outlook, but sales still increased 10.0%. Sales in Hong Kong increased 27.7% because of the impact of COVID-19 in the previous year and the curbing of markdowns, and total overseas sales increased 37.7%.」

「Overseas sales, translated into yen, increased 32.3% year on year in mainland China as the impact of COVID-19 diminished from the previous year and stores opened in the previous year contributed. Sales in Taiwan increased 28.7% as the company continued opening stores in line with its multi-brand strategy, in addition to growth at existing stores. Sales in the United States increased 21.7% as the wholesale business performed steadily. Sales in Hong Kong increased 34.0% because of the rebound from the impact of COVID-19 in the previous year, and total overseas sales increased 27.3%.」

「In the US, sales increased 53.2%, supported by solid consumer trends, expansion of the wholesale business through quality improvements, and e-commerce growth.」

「Revenue in Taiwan increased 48.4% as the launch of new brands proved successful, while revenue in the US increased 53.2%, benefiting from strong luxury demand and e-commerce growth.」

「In the US, sales increased 59.8%, benefiting from strong demand and growth in e-commerce.」

「In the US, both brick-and-mortar and wholesale sales increased as the economy recovered, and the business returned to profitability.」

「In the US, both brick-and-mortar and wholesale sales increased as the economy recovered, and the business returned to profitability in the second quarter.」

「In the US, where shortened store hours and restrictions on the number of customers entering stores continued, the recovery in sales remained modest, but the deficit narrowed as the e-commerce ratio increased and promotional efficiency improved.」

「Overseas net sales declined in Hong Kong, South Korea and the US due to the spread of COVID-19, while Taiwan, which was less affected, performed at roughly the previous year's level, and sales increased in China, where the niko and Shanghai flagship store performed steadily.」

「Overseas net sales declined in Hong Kong, South Korea and the US due to the spread of COVID-19, while Taiwan, which was less affected, performed at roughly the previous year's level, and sales increased in China, where the niko and Shanghai flagship store performed steadily.」

「Overseas net sales performed well in the US in both the wholesale and retail businesses, while sales in Hong Kong and China declined following the closure of unprofitable stores carried out in the previous fiscal year.」

「Overseas net sales performed well in the US, where the wholesale business remained stable, while sales in Hong Kong and China declined following the closure of unprofitable stores carried out in the previous fiscal year.」

「Overseas revenue increased 4.8% year on year. Revenue grew in Taiwan and South Korea, while revenue in Asia declined due to the impact of restructuring in Hong Kong and China. This was offset by the contribution from the US business following Velvet,LLC's consolidation as a subsidiary in the previous fiscal year.」

「Overseas net sales benefited from sales following the consolidation of US-based Velvet, LLC in the previous fiscal year, while sales in Hong Kong and China declined as a result of restructuring in those markets.」

「Overseas sales increased 16.3% year on year as sales from US-based Velvet,LLC, which had been consolidated as a subsidiary at the end of the first quarter of the previous fiscal year, contributed for the full period. However, domestic sales declined 3.7% year on year due to overall weakness, resulting in a 2.6% year-on-year decline in consolidated sales.」

「Overseas revenue increased 44.8%, helped by the contribution from the consolidation of U.S. Velvet, LLC as a subsidiary in the previous fiscal year and the effect of niko and ...'s entry into Taiwan. However, consolidated revenue declined 4.9% year on year as domestic revenue fell 7.5% due to weak performance by brands other than niko and ....」

「VV operates a business worth US$39.6 million, based on actual results for the fiscal year ended December 2016, in the US contemporary apparel market. Through this investment, we aim to further grow the business by providing our capital and expertise. At the same time, we aim to acquire expertise and know-how in the US brand business and strengthen our brand portfolio, including Marine Layer, Inc., in which we have invested.」

「In addition to domestic sales increasing steadily by 3.6% year on year, consolidated sales increased 9.6% year on year, supported by the contribution from the transfer of brand businesses, including “PAGEBOY,” to 株式会社アリシア during the first quarter and from the consolidation of US-based Velvet,LLC as a subsidiary.」

「Consolidated sales increased 10.3% year on year, partly due to the contribution from the consolidation of US-based Velvet,LLC as a subsidiary.」

「In addition to acquiring all equity interests in the US apparel company Velvet, LLC and making it a consolidated subsidiary, we will acquire expertise and know-how in the US brand business and seek to strengthen our brand portfolio, including Marine Layer,Inc., in which we invested in April of the previous year.」

「February 2017: Established Adastria USA,Inc. as a business base in the United States.」