NEW YORK–NexCen Brands, the parent company of the Waverly brand, completed its first full year of brand-management operations with a net loss of $4.6 million and revenues of $34.4 million.
The company said it posted net income of $4.9 million in 2007. The revenue total compares with $1.9 million for all of 2006, in which the company conducted less than two months of comparable operations. NexCen formally opened its brand-management operations in June 2006 and began acquiring brands that November.
Robert D’Loren, the company’s chief executive officer, said in the statement, “We have now completed the first year of our long-term plan to acquire and manage internationally recognized franchise and consumer brands.” NexCen purchased the Waverly brand from F. Schumacher, its long-time owner, in May of last year, and the company statement said fees from licensing the Waverly and Bill Blass brands (which it also acquired last year) royalties from franchisee sales to consumers and franchise fees from the opening of new franchise stores provided the company’s revenues last year.
The company also said its plans call for acquiring three to five brands per year in both 2008 and in 2009.
