23rd Oct 2007 07:01
Hot Tuna (International) plc23 October 2007 Press Release 23 October 2007 Hot Tuna (International) PLC ("Hot Tuna" or "the Group") Orders Launch of online store for US customers Hot Tuna (International) PLC (AIM:HTT), a lifestyle apparel brand with authenticsurf heritage, today gives an update on the Australian launch of the Hot Tunaboys ranges into Myer and David Jones. The launch has exceeded initialexpectations, and it is anticipated that the ranges will be a sell out beforeChristmas 2007. This has put the Group in a strong position for the expansionof the Hot Tuna boys and girls ranges into these two major department stores inAustralia in 2008. Typically, buyers anticipate a brand to have an average sell through of 5% perweek; Hot Tuna has had an average sell through of 10%, which places it amongstthe strongest performing brands. This success illustrates the positive changesthat have been made to the design process, combining highly commercial stylingwith key price points to drive sales. Michael Geddies, Head Buyer of Myer, commented on the launch: "This season Myerlaunched the surf brand Hot Tuna in our Boys 8-16 area. The unique styling ofthe items and the great value offered was well received by our customers. Theimmediate acceptance of Hot Tuna and the resulting strong sales exceeded ourexpectations, making Hot Tuna the most successful new brand in this area inrecent times. The June and July ranges experienced sell throughs in excess of10% per week on numerous items. This enabled us to repeat items for the peakselling period of November to January." The Group also announces today that its online store is now live at http://www.hottunaint.com/catalog/, allowing customers in the United States to purchase Hot Tuna apparel through the website. The Group will be rolling-out the website globally over the coming year. The site will initially sell the Spring 2007 men's range, and there are currently approximately 30 styles available through the online store. The launch of the US online store coincides with the re-launch of the Group's website. Niels Juul, CEO of Hot Tuna, commented: "We are delighted with the performanceof the orders for Myer and David Jones, which illustrates our presence in theAustralian market. "The launch of the online store for US customers is very exciting, as it willprovide Hot Tuna with another platform to access our target market. We arelooking forward to seeing the strengthening of the brand through this new saleschannel, and are keen to expand on what is already on the site. The globalroll-out of the online store will commence shortly and we expect to be able tooffer customers online access to our products in all target geographical marketswithin a year." - Ends - For further information: Hot Tuna (International) PLCRanjit Murugason, Chairman Tel: +44 (0) 20 7372 [email protected] www.hottunaplc.com Seymour Pierce LimitedMark Percy Tel: +44 (0) 20 7107 8000 www.seymourpierce.com Media enquiries:AbchurchHenry Harrison-Topham / Chris Lane Tel: +44 (0) 20 7398 [email protected] www.abchurch-group.com Notes to Editors Hot Tuna International PLC (AIM:HTT) owns the rights to the Hot Tuna brand, aprogenitor of global youth fashion, born in Australia with a heritage ofauthentic surf culture. Hot Tuna is one of the world's most iconic names in surf lifestyle and can traceits roots back to 1969 when it was founded by a surfer and his fashion designerwife. Though the label had not been actively marketed over for the lastdecade, it retained an organic cult status among core action sports enthusiasts. In June 2005, Hot Tuna International PLC purchased the 'Hot Tuna' brand fromFrontier International (Holdings) Pty Ltd, listed on AIM in September 2005, andhas since started to aggressively market the brand and reinvigorate thebusiness. The Company now owns all intellectual property rights to its name andrelated iconography, and has put in place key management drawn from theexecutive ranks of Von Dutch, Quiksilver, O'Neill and Ocean Pacific, amongothers. Headquartered in the UK, Hot Tuna operates design, marketing and distributionhubs in the USA, Australia and the UK. In its core markets, Hot Tuna sellsproducts, which are directly manufactured in facilities principally in China. Hot Tuna offices are maintained in Sydney, Los Angeles and London. For moreinformation, visit www.hottunaplc.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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