The company’s sales topped expectations and were paired with plans to cut more costs.
The French conglomerate reported “spectacular” growth at Gucci and Yves Saint Laurent, and a strong performance by Balenciaga.
The company also expects to save $12 million annually per a cost-savings initiative.
Rosenthal & Rosenthal has expanded far beyond apparel and accessories into the gift and home, furniture, food and beverage and consumer electronics industries.
The purchase order financing group, established just over 18 months ago, has more than 30 clients.
Fashion shows can give financing executives good information about what’s happening in the apparel and retail markets.
Hammurabi, a Babylonian king, is said to have codified a set of laws governing factoring as a form of financing for trade merchants.
While factoring is a stagnant industry overall, Rosenthal & Rosenthal has found avenues for growth.
Younger shoppers like Gucci and Vuitton, but would rather go to the spa, according to RBC.