Tuesday, April 15, 2014

Banjo & Matilda, Inc. (BANJ) Overview: Australian Lifestyle Brand Grows FY Sales 81%, Turns to Profit

Banjo & Matilda is a designer, retailer, and wholesaler of contemporary luxury knitwear inspired by a blend of Australian heritage and beach lifestyle. Founded in Bondi Beach, Australia, the company launched its clothing line in 2008 with the goal to create a globally recognized clothing brand that will eventually become a global Australian lifestyle brand.

The company’s core business is contemporary cashmere knitwear for women, though future plans include expanding the clothing line to include knitwear for men and children, among other products. Banjo & Matilda products are designed in the company’s design studios in Sydney, Australia, and are available online, and in major and specialty retailers worldwide.

“By combining our unique designs and Australian beach lifestyle heritage, and our approach to making beautiful products from the best materials and as sustainably as possible, we believe Banjo & Matilda fulfills a unique and very large segment of the global fashion and lifestyle market,” co-founder, president and CEO Ben Macpherson stated in a recent news release.

Based on industry feedback and sales data, Banjo & Matilda finds that knitwear is equivalent to approximately 30 percent of apparel sales in North America and Europe. The company’s target customer group is professional women ages 25 – 55 who have a significant level of disposable income and typically are in double income households.

For the 12 months of the fiscal year ended June 30, 2013, Banjo & Matilda recorded revenue of $1.7 million, an increase of 81.3 percent compared to revenues of $773,369 for full-year 2012. Net income increased 108.2 percent to $21,752 for fiscal 2013, compared to a net loss of $266,302 for fiscal 2012.

In the last three months, shares of Banjo & Matilda have increased 166.67 percent.

For more information, visit www.banjoandmatilda.com

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