Viva Goods Announces 2024 Annual Results

【For Immediate Release】

31 March 2025

Viva Goods Company Limited

（Stock code：0933.HK）

Viva Goods Announces 2024 Annual Results

（Hong Kong - 31 March 2024）Viva Goods Company Limited （"Viva Goods" or the "Company"） and its subsidiaries (the "Group") (stock code: 933.HK), announces its annual results for the 12 months ended 31 December 2024 (the "Year"). During the Year, the global business environment was complex and volatile. Affected by high inflation, high interest rates, and geopolitical risks, market consumption power remained weak. The Group's main markets include Europe, the United States, and Greater China, where consumer behavior was cautious, yet the pursuit of high-quality lifestyle persisted. Therefore, the Group has been actively accelerating brand repositioning, whilst focused on strictly controlling costs, optimizing the organizational structure and judiciously allocating resources. After such measures, the Group has improved operational efficiency, minimized losses and maintained stable cash flow. Total revenue amounted to HK$10.4 billion, while gross profit and loss attributable to equity holders amounted to HK$4.8 billion and HK$70.4 million respectively.

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Prudent Expansion of Multi-brand Consumer Goods Business

One of the Group's major brands, Clarks, has improved its operational efficiency within the year, partially offsetting the negative impact of the decline in revenue. During the year, as the brand kept its inventory at a reasonable level, the pressure to clear inventory decreased. Therefore, despite the weak market and the pressure on the revenue side, the gross profit margin in 2024 increased compared to the previous year. In various regional markets, the Clarks team also adjusted the product mix in response to the decline in consumer purchasing power and strived to maintain market share. At the same time, Clarks continued to intensify its structural restructuring. Although the one-off expenses incurred had a negative impact on the profit and loss of the year, they reduced future operational pressure. We expect that in 2025 and subsequent years, Clarks will be able to further improve its financial performance.

The bossini brand is currently in a transformation period, which requires more resources and capital investment and also involves certain risks. Therefore, the Group believes that it is more appropriate for the Group to provide all financial support and bear all the risks brought about by the brand transformation. At the end of 2024, the Group proposed the privatization of Bossini, and the resolution was passed at the court meeting and the extraordinary general meeting of shareholders on February 10, 2025. After the completion of the privatization, Bossini became an indirect wholly-owned subsidiary of the group. In the second half of 2024, the brand launched new products that integrated elements of cycling sports and the style of urban light sports. In terms of channels, since the second half of 2024, the brand has opened new stores in the Chinese Mainland market. In the Hong Kong market, the existing stores will also gradually shift to the style that conforms to the positioning of the new products.

testoni, the Italian luxury leatherwear brand, also launched its first collection of women's footwear and handbag during the second half of the Year. It will open a global flagship store in Milan, Italy in the first half of 2025. Moreover, the Group established a joint venture with LionRock Capital to jointly operate the Nordic outdoor equipment and apparel brand, Haglöfs in Greater China. This move will further enrich the brand portfolio and bring new growth driver for the group's diversified consumer brand portfolio.

Prospects

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Looking forward to 2025, the global economy and business environment remain challenging, with consumer attitudes staying cautious. The Group will adeptly navigate market changes, adjust business strategies timely, prudently allocate resources, and focus on the transformation and repositioning of existing brands. Meanwhile, we will continue to strictly control costs, safeguard robust cash flow, and concentrate resources on developing international multi-brand consumer goods businesses to achieve sustainable business growth.

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About Viva Goods Company Limited

Viva goods is a Hong Kong Main Board listed company, committed to becoming a leading international brand operator. It has a portfolio of renowned international apparel and footwear brands, including Clarks, a British footwear brand with two hundred years of history, bossini, the famous casual wear brands, LNG, the affordable luxury fashion brand, and testoni, a century-old Italian luxury leatherwear brand. The Group's business covers markets such as Europe, the United States, Greater China, Japan, South Korea, Southeast Asia, etc. Apart from the multi-brand apparel and footwear business, the Group also developed its sports experience business, which includes operating and managing a total of 11 sports parks and 14 ice skating rinks across China.

This press release is issued by DLK Advisory Limited on behalf of Viva Goods Company Limited.

For enquiries, please contact,

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Tel: +852 2857 7101

Fax: +852 2857 7103

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Room 906, 9/F, Nan Fung Tower, 88 Connaught Road Central, Hong Kong 香港中環干諾道中 88 號南豐大廈 9 樓 906 室

Tel: +852 2857 7101 Fax: +852 2857 7103 Website:www.dlkadvisory.com