Arden Looks To Redistribute Weight With Expansion To Emerging Markets
This article was originally published in The Rose Sheet
Executive Summary
Elizabeth Arden Inc. is looking to emerging markets for the growth needed to balance its currently U.S.-heavy business, according to E. Scott Beattie, the company's chairman, president and CEO
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Arden net sales up
Fragrance marketer Elizabeth Arden's net sales rose 3.1% to $1.1 bil. for the fiscal year ended June 30, compared with the same period last year. The increase was driven by Elizabeth Arden brand, which enjoyed a 13.5% net sales increase for fourth fiscal quarter. "Just over two years ago, we embarked on a global re-engineering of our major business processes and the implementation of a new enterprise software system to improve the efficiencies and scalability of our business," E. Scott Beattie, chairman and CEO, explains in Aug. 12 release. Firm realigned its global marketing/sales organizations and dropped one-third of product inventory to generate $100 mil. in operating cash flow and become more nimble in its push into global markets (1"The Rose Sheet" July 5, 2010). As a result of the changes, earnings grew by 85% to $19.5 mil. for fiscal 2010. "The progress we have made with these initiatives is evident in our results, as we exceeded our targets for our key metrics," Beattie says
Arden net sales up
Fragrance marketer Elizabeth Arden's net sales rose 3.1% to $1.1 bil. for the fiscal year ended June 30, compared with the same period last year. The increase was driven by Elizabeth Arden brand, which enjoyed a 13.5% net sales increase for fourth fiscal quarter. "Just over two years ago, we embarked on a global re-engineering of our major business processes and the implementation of a new enterprise software system to improve the efficiencies and scalability of our business," E. Scott Beattie, chairman and CEO, explains in Aug. 12 release. Firm realigned its global marketing/sales organizations and dropped one-third of product inventory to generate $100 mil. in operating cash flow and become more nimble in its push into global markets (1"The Rose Sheet" July 5, 2010). As a result of the changes, earnings grew by 85% to $19.5 mil. for fiscal 2010. "The progress we have made with these initiatives is evident in our results, as we exceeded our targets for our key metrics," Beattie says
Elizabeth Arden Teams with Bazooka for Mariah Carey's Lollipop Bling
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