Brill Group announced recently the completion of the acquisition of 100% of the shares of subsidiary SBN Clothing, which owns the brands Nautica, Timberland and Emporium.
In total, SBN operates 58 branches throughout the country, and the company also operates three trading sites. Nautica has 21 branches throughout the country, Timberland 17 and Emporium 20.
The acquisition was made for NIS 13.8 million.
The Brill Group, which designs, imports, purchases and markets footwear, apparel and fashion accessories from a variety of brands, also recently published its financial statements for 2020, which showed efficiency in inventory management with a decrease in inventory levels from NIS 155m. to NIS 138m. despite the coronavirus crisis and closures. This came in conjunction with its plan to further streamline the operational parameters it began even earlier.
It was these processes that led during the 4th quarter to a transition to an operating profit of NIS 11.4m. compared with an operating loss of NIS 2.8m. in the corresponding period last year.
At the same time, the company made a net profit after taxes of NIS 5.6m. in the fourth quarter of 2020, compared with a loss of NIS 7.1m. in the corresponding period last year.
Also in an annual comparison, the group moved to an operating profit of NIS 13m. in 2020 compared to an operating profit of NIS 10.8m. in 2019.
According to the company’s chairman of the board, Shachar Turjeman: “The company has growth potential through the Emporium chain of stores, whose acquisition was completed in 2019 from Sakal Sport, and following the coronavirus crisis in 2020, the growth potential has not yet been realized, the company is examining the possibility of combining additional brands to match the existing brand mix and the opening of additional stores of the chain.”
SBN Clothing has over the years displayed some of the best growth and performance capabilities in the industry.
The company ended 2020 with a sales turnover of NIS 141m. and a net profit of NIS 4.3m.