Mizuno has plans to revive revenue after covid-affected six months
Japanese sports brand Mizuno has reported revenues of around $610 million for the first six months of its current financial year, the period from April-September 2020.
This figure represents a fall of 22.5% compared to the same months a year earlier. It said sales had fallen sharply because of covid-19.
Just over 30% of Mizuno’s total revenues came from sales of apparel, with 27.5% coming from footwear and 23.9% from equipment. Services and other sources (including sales of office buildings) brought in the rest of the company’s income. Revenues were down year on year for all categories, by 18% for apparel, by 26% for footwear and by 22.1% for equipment.
Almost 70% of Mizuno’s sales revenues over the six-month period came from its home market, with the Americas contributing 12.7% and Europe just over 10%.
Golf and running performed well for the brand in Europe and the Americas, but all sports categories suffered losses in Japan.
Mizuno said that, among the measures it will take to revive revenue, it will seek to acquire “a wider range of customers by developing non-sports products and exploring new distribution channels” in Japan. Also in its home market, it said it would try to strengthen its sporting goods business and expand its business related to carbon technology.
In the Americas, it will seek to develop new products, while in Europe it will attempt to improve its share of the markets for indoor sports and teamwear.
