Over the past six months, 60 percent of the listed fashion companies in the FashionUnited Top 100 Index registered an increase in the value of their stock. During this period, the total rose by 6 percent. The Index closed at 1353 points on Friday, compared with 1346 points one year ago.
The listed fashion companies did experience a depressing fall season: in the period from July till the end of December 2011, the FashionUnited Top 100 Index dipped from 1346 to 1273 points. The fashion index also registered a dip in August, caused by the lowering of the US' creditworthy status from AAA to AA+.
Prada may look back on a successful half year. With a leap of 48 percent, the Italian fashion house - which went public on the Hong Kong stock market in June of last year - led the list of risers. One Prada share is currently worth 51.20 Hong Kong dollars (5.31 euros). Collective Brands, the American company behind brands like Payless, Saucony and Airwalk, did well too (+48 percent). Perry Ellis jumped 45 percent, which is noteworthy, considering that six months ago the company was one of the Index's biggest sliders.
Billabong International (-42 percent), Quicksilver (-42 percent) and French Connection (-40 percent) suffered the most of all the companies in the FashionUnited Top 100 Index. Benetton dropped off the list. In February of this year Benetton offered 275 million euros to take the company private. According to Benetton, the current economic climate was the catalyst for the delisting. Moreover, Alessandro Benetton - son of founder Luciano Benetton - wants to change course, which is easier to do with a privately-held company.
The American Liz Claiborne, the holding company behind labels like Juicy Couture, Kate Spade and Lucky Brand, changed its name to Fifth & Pacific Companies on the New York Stock Exchange. One share in the company is currently worth 10.51 dollars (8.45 euros).
Top 5 performers
1. Prada SpA ( +48%)
2. Collective Brands, Inc.( +48% )
3. Perry Ellis International ( +45%)
4. Dillard's ( +45% )
5. Gildan Activewear, Inc. ( +45% )
Top 5 losers
1. Billabong International (-42.54%)
2. Quiksilver Inc.(-41.62%)
3. French Connection (-39.86%)
4. J.C.Penney (-38.17%)
5. Abercrombie & Fitch Co (-37.56%)
The FashionUnited Top 100 Index is a capitalization-weighted benchmark index which includes some of the world's largest listed apparel companies. In July 2010 the fashion benchmark started at 1000 points. On 31 December 2011, the index closed at 1273 points. Currently, the index stands at 1353 points.