Global Brands Group H1 sales decline by 46 percent

Global Brands Group Holding Limited, during the six months to September 30, 2020 saw the closure of retail stores in global markets, which the company said, affected customers, retailers, and brand owners as social distancing restrictions were implemented around the world due to the Covid-19 pandemic. As a result of which, the group’s revenue declined by 46.1 percent to 290 million dollars, compared to the same period last year, while the group’s total margin declined by 92 million dollars while the margin rate remained stable at 35.4 percent.