Global Sports Brand U.S. Polo Assn. Delivers Record $2.4 Billion in Retail Sales for 2023, Targets $3 Billion and 1,500 U.S. Polo Assn. Stores
West Palm Beach, FL, Apr 2, 2024 – (ACN Newswire) – USPA Global has announced that U.S. Polo Assn., the official brand of the United States Polo Association (USPA), has delivered a record $2.4 billion in global retail sales in 2023.
The global sports brand’s record growth is the result of expanding its existing sizeable footprint across all regions around the world. U.S. Polo Assn. has seen a balanced growth strategy with significantly increased market share in more mature markets, such as North America and Western Europe, while delivering exponential growth in emerging markets such as Asia, Latin America, the Middle East, and India. In fact, the brand is targeting to become a billion-dollar business in India alone, as U.S. Polo Assn. is an international power brand and the top-selling casual menswear brand in the country.
The brand’s footprint is a fast-growing presence across 190 countries, with over 1,100 U.S. Polo Assn. retail stores and thousands of wholesale locations spanning department stores, sporting goods channels, and independent retailers, as well as e-commerce. U.S. Polo Assn. continues to climb the retail ranks as one of the largest global licensed sports brands in the world, ranking in the top five alongside the NFL, MLB, and NBA, according to License Global.
U.S. Polo Assn.’s strong execution has relied on a global focus regarding the brand’s worldwide store expansion. The brand has grown its global fleet to more than 1,100 U.S. Polo Assn. stores, targeting over 1,500 in the next several years. For 2023, new stores and existing strategic stores around the world have been enhanced with a more elevated brand and sports concept, providing consumers with an authentic experience when engaging with the brand.
U.S. Polo Assn. also built on its successful digital strategies to generate record growth in e-commerce with some 50 brand sites in 20 languages in 2023. U.S. Polo Assn. continues to grow its digital presence and global momentum on social media, with some 8 million followers worldwide.
“Our global team and strategic partners around the world delivered another record financial performance in 2023 while also achieving many major milestones across our product lines and global expansion efforts,” noted J. Michael Prince, President & CEO of USPA Global. “We continue to execute our aggressive product, store, digital, and international growth strategies to further expand our global footprint in key cities and markets worldwide, while also increasing the overall interest in the sport of polo.”
Prince added, “Despite the many challenges over the past several years facing global retail, U.S. Polo Assn. was able to exceed our goal of $2 billion three years early and has set a target to hit $3 billion and 1,500 U.S. Polo Assn. stores in the near future.”
True to the heritage of the brand, U.S. Polo Assn. maintains a strong connection to the sport of polo. By signing a recent landmark multi-year global deal with ESPN, the thrilling sport now has exposure to a massive global audience, extending to many parts of the world with reach to millions of households and multiple digital channels. The sport’s iconic U.S. Open Polo Championship®, which is broadcast by ESPN, now sits alongside the elite company of The Masters and Kentucky Derby as one of the country’s most prestigious spring sporting events.
In addition, the USPA now owns the USPA National Polo Center (NPC), the sport’s premier destination in North America. The 2024 American High-Goal Polo Season has brought record crowds and sellout Sundays, with the best polo in the world from January-April. Nestled in beautiful Palm Beach County, Florida, this outstanding venue spans 160 acres, encompassing multiple grass polo fields, fine dining, tennis courts, stadium seating, a swimming pool, and the NPC Retail Shop. Exciting updates to the world-class facility are slated for 2025.
“We continue to seek avenues and partnerships to expand into new global markets, as well as new and innovative areas of business. The combination of these factors, alongside our authentic connection to the sport of polo and outstanding global brand marketing, is the key to our global success,” Prince adds. “I am optimistic about the U.S. Polo Assn. global business maintaining its leadership position among its industry peers while gaining market share and our ability to reach over $3 billion in worldwide sales and 1,500 U.S. Polo Assn. retail stores in the coming years.”
“Today, I am proud to say that our U.S. Polo Assn. global ecosystem is comprehensive of both the brand and the sport, with our $2.4 billion global sport-inspired brand, a global sports content platform with ESPN, and ownership of NPC, one of the sport’s most beautiful and prestigious venues,” concludes Prince.
About U.S. Polo Assn. and USPA Global
U.S. Polo Assn. is the official brand of the United States Polo Association (USPA), the governing body for the sport of polo in the United States and one of the country’s oldest sports governing bodies, founded in 1890. With a multi-billion-dollar global footprint and worldwide distribution through more than 1,100 U.S. Polo Assn. retail stores as well as thousands of additional points of distribution, U.S. Polo Assn. offers apparel, accessories, and footwear for men, women, and children in more than 190 countries worldwide. A recent, multi-year deal with ESPN to broadcast several of the premier polo championships in the world, sponsored by U.S. Polo Assn., has made the thrilling sport accessible to millions of sports fans globally for the very first time.
U.S. Polo Assn. has consistently been named one of the top global sports licensors alongside the NFL, NBA, and MLB, according to License Global. In addition, the sport-inspired brand is being recognized around the world with awards for global growth, expansion, licensing, and digital growth. Due to its tremendous success as a global brand, particularly in the last five years, U.S. Polo Assn. has been featured in Forbes, Fortune, Modern Retail, and GQ as well as on Yahoo Finance and Bloomberg, among many other noteworthy media sources around the world.
For more information, visit uspoloassnglobal.com and follow @uspoloassn.
USPA Global is a subsidiary of the USPA and manages the global, multi-billion-dollar U.S. Polo Assn. brand, providing the sport with a long-term source of revenue. Through its subsidiary, Global Polo Entertainment (GPE), USPA Global also manages Global Polo TV, which provides sport and lifestyle content. For more sports content, visit globalpolo.com.
Contact Information
Stacey Kovalsky
VP Global PR and Communications
skovalsky@uspagl.com
+001.561.790.8036
Kaela Drake
PR & Communications Specialist
kdrake@uspagl.com
+001.561.461.8596
SOURCE: USPA Global Licensing Inc.
Topic: Press release summary
Japan – US$ 2 Billion Financing Agreement Executed, NextPlay Technologies, Inc
Sunrise, FL, Jan 23, 2024 – (NewMediaWire) – NextPlay Technologies, Inc. (NASDAQ: NXTP) (the “Company”), a digital native ecosystem for finance, digital advertisers, and video gamers, announced today:
The company executed a convertible loan agreement (“NextBank Convert”) with an investor for proceeds of US $2 billion, as detailed in the company’s 8-K filing on January 22, 2024.
The loan is not convertible into NXTP shares and will not increase the current 5.9 million shares issued and outstanding of NXTP.
The Loan is convertible into common shares of NextBank International, Inc., (“NextBank”) the Company’s 100% owned banking subsidiary, at a conversion price that would value NextBank at US $65 million.
Conversion is subject to approval of NextBank’s Regulator. There is no assurance that the deal shall close successfully.
The NextBank Convert will be secured by NextBank shares only and shall not be secured by shares of any other of the Company’s subsidiaries or affiliates, assets or liabilities.
About NextPlay Technologies
NextPlay Technologies, Inc. (Nasdaq: NXTP) is a technology solutions company offering games, in-game advertising, digital banking, and crypto-banking services to consumers and corporations within a growing worldwide digital ecosystem. NextPlay’s engaging products and services utilize innovative AdTech, Artificial Intelligence and Fintech solutions to leverage the strengths and channels of its existing and acquired technologies.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of, and within the safe harbor provided by the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements give our current expectations, opinions, belief or forecasts of future events and performance. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, these statements involve risks and uncertainties that may cause actual future activities and results to be materially different from those suggested or described in this news release. Factors that may cause such a difference include risks and uncertainties including, and not limited to, our need for additional capital which may not be available on commercially acceptable terms, if at all, which raises questions about our ability to continue as a going concern; our ability to file our Annual Report on Form 10-K for the fiscal year ended February 23, 2023 and/or our Quarterly Reports on Form 10-Q for the quarters ended May 31, 2023 and August 31, 2023 within the period provided by Nasdaq to do so; our ability to timely submit an acceptable updated Compliance Plan to regain compliance with the Nasdaq continued listing rules within the period provided by Nasdaq; whether Nasdaq will accept our updated Compliance Plan to regain compliance with the Nasdaq continued listing rules; our ability to timely file our subsequent periodic reports with the SEC; our ability to maintain the listing of our common stock on the Nasdaq Capital Market; current regulation governing digital currency activity is often unclear and is evolving; the future development and growth of digital currencies are subject to a variety of factors that are difficult to predict and evaluate, many of which are out of our control; the value of digital currency is volatile; amounts owed to us by third parties which may not be paid timely, if at all; certain amounts we owe under outstanding indebtedness which are secured by substantially all of our assets and penalties we may incur in connection therewith; the fact that we have significant indebtedness, which could adversely affect our business and financial condition; uncertainty and illiquidity in credit and capital markets which may impair our ability to obtain credit and financing on acceptable terms and may adversely affect the financial strength of our business partners; the officers and directors of NextPlay have the ability to exercise significant influence over the company; stockholders may be diluted significantly through our efforts to obtain financing, satisfy obligations and complete acquisitions through the issuance of additional shares of our common or preferred stock; if we are unable to adapt to changes in technology, our business could be harmed; if we do not adequately protect our intellectual property, our ability to compete could be impaired; unfavorable changes in, or interpretations of, government regulations or taxation of the evolving Internet and e-commerce industries which could harm our operating results; risks associated with the operations of, the business of, and the regulation of, Longroot and NextBank International (formerly IFEB); the markets in which we participate being highly competitive, and because of that we may be unable to compete successfully with our current or future competitors; our potential inability to adapt to changes in technology, which could harm our business; the volatility of our stock price; and that we have incurred significant losses to date and require additional capital which may not be available on commercially acceptable terms, if at all. More information about the risks and uncertainties faced by NextPlay are detailed from time to time in NextPlay’s periodic reports filed with the SEC, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, under the headings “Risk Factors”. These reports are available at www.sec.gov. Other unknown or unpredictable factors also could have material adverse effects on the company’s future results and/or could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected. The forward-looking statements in this press release are made only as of the date hereof. The company takes no obligation to update or correct its own forward-looking statements, except as required by law, or those prepared by third parties that are not paid for by the company. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.
SOURCE: NextPlay Technologies, Inc.
Company Contacts:
NextPlay Technologies, Inc.
Nithinan “Jess” Boonyawattanapisut
Chief Executive Officer
Email: nithinan.boonyawattanapisut@nextplaytechnologies.com
Copyright ©2024 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.
$48 Billion U.S. Recreational Vehicles Industry Boosted by The Pandemic
Industry undergoes a reset for future growth
Tampa FL USA, – WEBWIRE – Wednesday, June 28, 2023
RVs are as American as apple pie.”
June 28, 2023: Marketdata LLC, an leading independent market research publisher since 1979, has released a new study, an 87-page report entitled: The U.S. Recreational Vehicles Industry: Manufacturers, Dealers and RV Parks. The study traces the industry from 1980s to 2027 Forecast, examining the markets size, growth, structure, buyer demographics and competition.
The industry posted record revenues and RV shipments (600,000 RVs) in 2021 during the Covid-19 pandemic, as consumers sought ways to vacation safely. This was a major turning point and stimulus for the industry, as a new and younger demographic was introduced to the RV lifestyle.
However, this pace was not sustainable and recreational vehicle shipments and sales began to decline in 2022. This decline continues into 2023, as RV prices and demand fall, but this is being mitigated as customers are now pursuing RV rentals, used vehicles, and RV sharing.
Major Findings:
Market Value Marketdata estimates that the RVs industry had record revenues of $52.6 billion in 2021, a 33% increase over 2020. This was atypical, fueled by the pandemic. Sales moderated to $48.5 billion in 2022. The 9-year growth rate for RV dealer sales was 26.7% from 2012 to 2021. The industry is returning to more historical growth rates and is forecast to grow 6.2% per year from 2022 to 2027.
Demographics As of March 2021, 11.3 million households owned an RV — a 26 percent increase over the past ten years. Generation X and Baby Boomers make up the majority of RV owners, and those ages 35-54 are the most likely to own an RV. The average owner has an income of $68,000.
2023 Outlook Sales of RVs are declining as prices fall and dealers work through their large inventories. Rising interest rates and economic uncertainty will continue to act as headwinds. The RV sector relies heavily on consumers affordability. A 10.3% sales decline is forecast for this year.
Competitive Market The industry consists of 2,800 retail RV dealers and nearly 4,900 RV parks and campgrounds, that employ a combined 76,700 workers. RV manufacturers employ another 11,373 workers.
Metrics The average RV dealer retail establishment (office, branch, physical site) had estimated receipts of $12.78 million in 2020, up 32% from 2017. The average RV park establishment had estimated receipts of $840,000 in 2020, up 22.8% from 2017.
Geographic In 2020, the states with the largest number of RV dealer establishments included: California, Texas, Florida, Michigan, Oregon, and Pennsylvania, in that order. In the United States, about 85 percent of recreational vehicles sold are manufactured in Indiana, with most of that production in Elkhart County, which calls itself the RV Capital of the World.
The industry is susceptible to boom and bust cycles, as RVs are discretionary purchases that can be postponed or cancelled. However, the outlook over the next four years is good, as RV parks grow in number and younger buyers embrace RV travel., according to John LaRosa.
About The Report
The U.S. Recreational Vehicles Industry: Manufacturers, Dealers and RV Parks, published in June 2023, is an independent off-the-shelf market research study. The study is 87 pages in length, with 30 tables and charts and 7 competitor profiles. It is priced at $1,295. A $99 Executive Overview is also available. A free Table of Contents is available by email or at www.marketdataenterprises.com. Contact: Marketdata LLC, 7210 Wareham Drive, Tampa, FL 33647, (813) 971-8080. John LaRosa is available for interviews and presentations.
About Marketdata LLC
Marketdata is a 44-year old market research and consulting firm with a specialty tracking a wide variety of service sectors (commercial, personal services). It provides custom research projects. consulting, and phone consultations. Marketdatas ubiased reports are used by trade associations, banks, private equity firms, start-ups, ad agencies, consultants, entreprenuers, and industry competitors (Fortune 500).
Huijing Holdings Company Limited (“Huijing Holdings” or the “Group”; Stock code: 9968), an integrated residential and commercial property developer in the PRC, with a strong presence in the Greater Bay Area, has today announced its annual results for the year ended 31 December 2021 (“FY2021” or “the Year”). Results Highlights: Continuous growth in contracted sales and steady improvement in results For the year ended 31 December 2021, the Group has maintained growth in its results by adhering to its precisely targeted “one focus, one core and two wings” quality property mix and professional services in the Greater Bay Area. Contracted sales have amounted to approximately RMB8.0 billion, representing a year-on-year increase of 3.9%. Contracted gross floor area (“GFA”) sold of approximately 981,997 sq.m., representing an increase of approximately 29.6% compared to the year ended 31 December 2020. Gross profit was approximately RMB1,666.9 million with gross profit margin at 31.4%. Net profit totaled approximately RMB550.4 million, with net profit margin at 10.4%. Basic earnings per share were RMB0.05. The Board of Directors (the “Board”) has proposed to distribute a final dividend of HK2.48 cents per share. During the Year, the Group has recorded a revenue of approximately RMB5.31 billion, an increase of 3.0% from the corresponding period last year. Total GFA recognised has climbed over 30% to approximately 758,749 sq.m., mainly from projects including The 1st Mansion, Nine Miles Bay, Yongjinlan Bay, Huijing Yanhu International Resort, and Hefei Huijing City Centre. Expansion of land bank and progress in development of urban renewal projects During the Year, the Group continued to develop regions with high growth potential, such as Western and Northern China, and consolidated it market leadership position based on the the strategy of “Maintain a foothold in the Greater Bay Area, penetrate Dongguan and sustain coverage in the Southern, Central and Eastern China areas”. As of 31 December 2021, the Group had land reserves with a total area of approximately 3,146,831 sq.m., with 21 projects and 4 parcels of land located in 11 cities all over Mainland China. During the Year, the Group added a total GFA of around 582,000 sq.m. to its land reserves, which were assigned to 5 projects. It also marked the first time that the Group penetrated Fuyang, Anhui and Chengdu, Sichuan, which has become an important pillar for expansion of its business presence. The Group’s urban renewal projects have also realized good progress. During the Year, the Group has obtained the qualification of preparatory services provider for 9 urban renewal projects and is also working on a preparatory services provider qualification and promoting the change of land use for 9 projects. As of 31 December 2021, the Group met the land supply target for the Shatian Renzhou Area Project. The Zhangmutou Baoshan Area Project and Humen Xinwan Area Project were also proceeding well. Meanwhile, the Group also secured news projects, including the Hongmei Hongwugao Area Project and Wangniudun Project in Dongguan. The Group will continue to expand its land bank and advance the development of urban renewal projects so as to extend its brand influence and lay a solid foundation for its sustainable growth. Breakthrough development of scientific and innovative technology industry towns drives regional economic development Amid the emerging trend of innovation ecosystems in the industry, the “scientific and innovative technologies industry towns,” an important part of the Group’s “one core, one focus and two wings” business strategy, also achieved breakthrough development in 2021. During the Year, Huijing . Greater Bay Area 5G Intelligent Manufacturing Park helped the enterprises to undergo transformation and upgrade, marking a new milestone for smart factories in the Dongguan Eco-Environmental Industrial Park. Huijing Wisdom Valley is to be built into an integrated scientific and innovative technology park and become a high-end innovative technology ecosystem with office space and commercial ancillary facilities. In terms of new projects, the Group has entered into a letter of intent with the Shatian Town Government in relation to the development planning of an AI enabled smart town in Shatian alongside the Guangzhou-Shenzhen Science and Technology Innovation Corridor, and thereby construct an integrated industry and city through effective deployment of technology. The Hongmei Hongwugao Area Project is planned as an industry park with 5G at the core to promote the development of a new generation in the information technology industry and in intelligent manufacturing. These projects have demonstrated how the Group has established a presence in Dongguan over many years, and how it has gradually delivered results in its research on applying artificial intelligence in industrialization and innovative technologies, in its bid to achieve progress in high-quality development. Healthy financial position and stable capital structure The Group benefits from a stable financial position, with a net gearing ratio of 42.6% and gearing ratio (excluding contract liabilities) of 54.4%. Thanks to its overall market analysis, the Group recorded a continuous improvement in revenue, with total assets increasing 19.2% year-on-year to RMB15.2 billion. Looking forward, the Group will continue to strengthen its cash flow management and boost the rate of capital turnover, so as to generate momentum for its growth across different industries with a stable capital structure. Future strategies: To seize opportunities, make progress while maintaining stability, integrate industry and the city, and improve project quality Mr. Lun Zhao Ming, CEO and Executive Director of Huijing Holdings, said, “Leveraging our advantages in the Greater Bay Area, in 2021, the Group continued to execute the ‘one core, one focus and two wings’ strategy, with ‘residential development as the main business, urban renewal as the core, and cultural tourism along with health care, and the science and technology sector as the two wings.’ This was aimed at enriching the diversity of the profit structure and has continuously improved the capabilities of projects and services, thereby enhance the Group’s core competitiveness and capacity for sustainable development. Looking ahead, the Group will adhere to its business presence closely monitor changes in the market environment and proactively address policy changes. The Group is confident that it will continue to seize opportunities arising from urban development. By developing the projects on land parcels with strategic advantages and devoting greater effort to the layout of urban renewal projects, we remain committed to maintaining our leading position in the urban renewal industry across the Greater Bay Area, with the aim of adding value to cities there and bringing sustainable returns to our shareholders.” About Huijing Holdings Company Limited (Stock code: 9968)
More than 2 billion workers make up the informal economy. Thats 6 out of every 10 workers in the world who live without labor or social protections. The economic recovery of these workers is a critical component of a global economic rebound from the Covid-19 crisis. To understand the scale of informal labor and its impact on the economy, Ford Foundation partnered with The Guardian on this special feature that breaks down the challenges facing workers and highlights solutions to build a truly equitable future of work. Read the full article in The Guardian. The Ford Foundation The Ford Foundation is an independent, nonprofit grant-making organization with assets currently valued at $16 billion. For more than 85 years it has worked with courageous people on the frontlines of social change worldwide, guided by its mission to strengthen democratic values, reduce poverty and injustice, promote international cooperation, and advance human achievement. With headquarters in New York, the foundation has offices in Latin America, Africa, the Middle East, and Asia.
Huijing Holdings Contracted Sales Continued to Grow to RMB8 Billion, Revenue Steadily Increased to RMB5.31 Billion
— Contracted sales (including contracted sales from joint venture) increases by approximately 3.9% to RMB8.0 billion in 2021
— Revenue increases by 3.0% year-on-year to approximately RMB5,309.3 million
— Net profit amounted to approximately RMB550.4 million; net profit margin was 10.4%
— Gross profit totaled RMB1,666.9 million, gross profit margin was 31.4%
— Adequate high-quality land reserves, with approximately 582,000 sq.m. added in 2021
— Proposed final dividend of HK2.48 cents per share was recommended by the Board
Huijing Holdings Company Limited (“Huijing” or the “Group”) is an integrated residential and commercial property developer in the PRC with its foothold in the Greater Bay Area, gradually expanding its presence to the Yangtze River Delta Urban Cluster and the Yangtze Mid-Stream Urban Cluster. It focuses on urban renewal projects, covering residential, integrated and industry-specific property projects. Besides, the Group has been included as one of the constituent stocks of the MSCI China All Shares Small Cap Index, Hang Seng Composite Index and Hang Seng Stock Connect Hong Kong Index Series. For more information about the Group, please visit http://www.huijingholdings.com.
Topic: Press release summary
More than 2 billion workers make up the informal economy
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