Elite World "add"
12/16/08 -
First BerlinLONDON, December 16 (newratings.com) - Analysts at First Berlin maintain their "add" rating on Elite World SA
(E1M), while reducing their estimates for the company. The target price has been reduced from €3.50 to €3.10.In a research note published this morning, the analysts mention that the company’s 9M revenues and gross profits fell y/y due to the financial crisis. The softening economy is likely to adversely impact Elite World’s performance in the short term, the analysts say. The EPS estimates for 2008 and 2009 have been reduced from €0.16 to €0.13 and from €0.23 to €0.22, respectively.
About Elite
Elite is the world's leading model management company, synonymous with modeling prestige and an icon in the industry. Thirty years after opening its doors in Paris, Elite today manages over 800 models from 5 continents.
Elite’s expertise in the modeling industry has led to the success of the world's top models such as Cindy Crawford, Claudia Schiffer, Karen Mulder, Linda Evangelista, Naomi Campbell, Stephanie Seymour, Tyra Banks, Paulina Porizkova and countless others.
Elite offers complete international coverage with wholly–owned agencies in 9 countries and franchises in 30 countries.
The Group’s customers are comprised of leading fashion houses including Chanel, Dior, Yves Saint Laurent, Victoria's Secret, Donna Karan, Ralph Lauren, and Oscar De La Renta.
Elite owns the licensing rights to the most powerful model scouting process in the industry. Launched in 1983, the Elite Model Look Contest is the most prestigious and unique springboard for talent into the modeling industry.
Recognizing the power of its brand, Elite established the Elite Licensing Company S.A. (a wholly-owned subsidiary) in 1998 to develop a mass-market distribution strategy for products bearing a global brand with high perceived value at an affordable price, designed to project a certain lifestyle appeal to young women. Elite develops products with licensing partners that typify the Elite "spirit." This refers to certain brand fundamentals: fashion design, price, accessibility, quality and respect for the consumer. Each licensing initiative Elite pursues embodies these attributes.
As such, the Group seeks partner manufacturers that have an understanding of Elite's values.
Elite licenses numerous products in four general product categories.Apparel:
Street wear and sportswear, tights, lingerie, socks, footwear.
Accessories: Trunks & suitcases, travel bags, beach bags, eyeglass and related products, sunglasses, beachwear and toiletry bags, watches, hair brushes, hair accessories, manicure & pedicure products.
Franchises: Cafés, beauty salons, modeling schools. Cosmetics: Skin care, sun care, hair care, perfumes
12/16/08 - First Berlin
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