By  on November 15, 2017

HONG KONG – Global Brands Group reported first-half net profit of $26 million, up from $1 million in the same prior-year period, boosted mainly by the sale of the intellectual property rights to bootmaker Frye.

In the six months ended Sept. 30, the brand licensing and management company’s top line fell 3.2 percent to $1.79 billion, which Global Brands Group said was due to the shift of retail buying toward the end of the year; anticipated cessation of the license for Quiksilver, the bankrupt surfwear brand, and the ending of the Coach footwear license, which was taken in-house.

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