trigger45
- 04 May 2006 02:25
Is this the next ASOS?
This could be an opportunity to get in early as the company builds on it's web presence and sales. Very few people are aware of this one and it is only now that they are starting to get noticed in the national press after achieving record sales in the run up to Christmas.
The company sells music related fashion to customers who want to get "the look" of their favourite bands.
With internet retailing growing at the rate it is and the massive market for this type of product, in time this could be a real winner.
www.ebtm.com
RNS Number:3459C
EBTM PLC
03 May 2006
EBTM PLC
3 May 2006
EBTM Plc
TRADING UPDATE - APRIL SALES 60% HIGHER THAN DECEMBER 2005
The Board of EBTM Plc, the AIM quoted online retail operation, announces that trading in the period to end April 2006, its year end, was above expectation.
The Company has integrated rapidly into the former e-retail business and its management is currently expanding its warehouse and distribution facilities and systems.
It also reports that sales in April were some 60% ahead of those of the previous record month of December 2005, encouraging the Board to be confident of achieving its current expansion plans.
Chairman Mark Watson-Mitchell commented
"The sales figures for April were excellent, way ahead of our previous record month, which was that leading up to Christmas 2005. Since March the Company's management, under Richard Breeden and Grant Calton, has moved apace in getting to grips with creating its ability to cope with the significant sales increases that are a major part of the expansion strategy."
For further information:
EBTM PLC 020 8704 0034
Richard Breeden (Chief Executive) 07973 563 529
Notes to Editors
EBTM Plc (AIM: EBTM) is the result of the reverse acquisition of e-retail plc in February 2006. That company acquired EBTM Limited, which was formed in April 2005 as a new online specialist retailer of music merchandise and related clothing and fashion.
The online retail operation, EBTM.com, was launched in July 2005. It currently sells licensed products from over 175 bands (from The Rolling Stones to Razorlight, from Bob Marley to Motorhead). Products include clothing, jewellery, bags and shoes. EBTM also sells several a range of associated fashion brands, (which have an association with music), including Atticus, Vans, Eastpak and Amplified.
EBTM continues to broaden and expand its sales retail offering and, over the coming months, will continue to develop its branded fashion offering.
This information is provided by RNS
The company news service from the London Stock Exchange
END
A bit more info found by foo ninja on the iii discussion board.
The man who's got the T-shirt
By Emma Vickers
3 March 2006
Retail Week
English
Copyright 2006. EMAP plc. All rights reserved.
Newly floated e-tailer EBTM is convinced band T-shirts and posters can be big business. Emma Vickers meets founder Richard Breeden
In his City-boy uniform, EBTM chief executive Richard Breeden looks more anything, rather than everything, but the music - the name of his recently floated internet fashion business.
His sharp suit, expensive watch and blue and white striped shirt are a far cry from the Led Zeppelin and Iron Maiden T-shirts that comprise the site's bread and butter. But, following the 1.5 million reverse takeover of EBTM by AIM-listed consultancy E-retail on February 3, the ex-dance music fanatic must play to an audience of investors to persuade them that music-inspired clothing has room for growth and, more importantly, that he is the one to lead it.
Breeden outlines the premise of EBTM a week after the deal. He looks tired and speaks quickly, giving the impression that he delivered the same spiel repeatedly in the weeks before and after the takeover.
He says: "We are an online-only retailer of music-related merchandise and product. The retail concept is that music is a key driver of lifestyle. The music that you listen to defines not only the clothes that you wear, but who you hang out with and where you hang out - a large part of what you do. We're trying to provide an access to that lifestyle to people that like certain types of music."
The web site sells T-shirts, accessories, jewellery, footwear and posters. It caters for fans of genres from metal, indie, rock, punk to urban. It has 40,000 registered users - 60 per cent of whom are men.
A heavy metal fan browsing the site would be able to pick up a T-shirt with the logo of Bullet for My Valentine and a co-ordinating monogrammed bullet-shaped pendant.
The appeal of the offer is arguably limited to moody teenagers listening to grungy music in their bedrooms. However, Breeden cites the broader and more affluent 16- to 29-year-old age range as his core customer base and EBTM's average basket size of 26 backs this up.
Breeden says one of the challenges he faces is widening the appeal of the site and he has plenty of ideas to do this. He intends to include more fashion to allow fans to get the look of their favourite singers. Although this is a sales device used heavily by online fashion retailer Asos, EBTM customers are more likely to want to ape the style of Babyshambles singer Pete Doherty than his ex-girlfriend Kate Moss.
The site will also stock the growing number of clothing collections designed by musicians themselves. In March, it will start selling the Adeline clothing collection designed by Green Day frontman Billie Joe Armstrong. Breeden points out that licensed product is becoming more important to artists because the revenue they once got from CDs has been hit by internet piracy. He says: "It's leading to better product development."
His goal for EBTM is to have a fashion-led homepage, with links to a broadened range of music genres, including pop. However, music fans are renowned for snobbery - would a Motorhead fan buy a T-shirt from a site that also, for instance, stocks a cosmetics range by J-Lo?
Breeden says: "It's something we're very aware of. It's not just J-Lo, it's the difference between metal and indie. But that's one of the beauties of the internet: because it's so flexible, you're able to create environments for each genre. It's not a concept you can deliver in a shop, because once you're in a shop that's the environment you're in."
Though he has limited retail experience, Breeden has more than proved his entrepreneurial credentials. At university, he channelled his passion for dance music into organising gigs and club nights. On graduating, he lived every music lovers' dream - after stints of work experience he was offered a job with EMI.
Within six weeks, he was running his own label. He says: "I spotted an opportunity - they had a (dance music) label called Tribal America and I persuaded the owner to let me set up the UK side. We became very successful. It's fortunate, but there was an opportunity and we built a fairly significant business pretty quickly."
After eight years at record labels and an MBA en route, he ended up working for merchandiser Blue Grape. He explains: "Merchandisers sign bands in the same way that a record company does. They'll go out and pay in advance to acquire rights, but instead of acquiring record rights they acquire what are effectively visual rights. The right to use the logo and all that kind of stuff."
It was while working here that the idea for EBTM was born. Breeden says: "I spent a long time looking for the right opportunity - when I say looking for, I mean sitting down and thinking it up."
He set up the business in January last year and was dealt the attention of EBTM's retail trump card in the form of executive director Quentin Griffiths, who founded and remains a stakeholder in Asos.
As well as expanding the breadth of product offer, EBTM is driving hits through print advertising in specialist titles such as NME and Kerrang. Recent coverage in Heat magazine helped drive sales of a studded Rolling Stones T-shirt and bring EBTM to the attention of a more mainstream customer base. Then, unlike Stones frontman Mick Jagger, Breeden will be satisfied.
trigger45
- 11 Oct 2007 08:34
- 69 of 80
I feel I'm talking to myself here but to be honest this one isn't the most exciting share to be in.
Still very much a case of building for the future with the long awaited expansion into Europe about to happen.
This next year is going to be very important to EBTM as regards delivering share holder value.
I'm still happy to hold and accumilate.
I'll get my coat....
trigger45
- 19 Nov 2007 07:51
- 70 of 80
More good news re building for the future.
EBTM PLC
19 November 2007
EBTM LAUNCHES US WEBSTORE FOR ATTICUS CLOTHING
EBTM plc (EBTM), the online retailer and brand owner of music inspired fashion,
is pleased to announce the launch of its US webstore for Atticus Clothing. EBTM
has entered into an agreement with Music Today (a part of the Live Nation group
of companies) to run the store in the USA. The site will provide a retail
outlet at www.atticusclothing.com.
The launch will take effect immediately and follows the Company's objective to
expand into new markets. The recently acquired Atticus brand is now well
established and EBTM is well placed to distribute product to North America,
where demand for the Atticus range is strong.
Richard Breeden, Chief Executive of EBTM commented:
' We are delighted to announce the launch of the US webstore for the Atticus
brand. We now have the platform from which we can increase our market position
as the leading provider of music inspired fashion not only in the UK but in
North America also.'
' To work with Live Nation is a significant step for EBTM. The launch of the US
webstore is in line with our strategy for future growth. This is an exciting
development for EBTM and we look forward to reporting our interim results after
the all important Christmas trading period. The future for the company remains
very promising.'
trigger45
- 01 May 2008 22:52
- 71 of 80
EBTM PLC
22 January 2008
EBTM.L
EBTM Plc ('EBTM')
Interim Results for the six months ended 31 October 2007
Key Points
Sales up 590% year-on-year, assisted by the acquisitions made in May and
July 2007, to 3.59 million (2006: 0.52 million).
The Group has posted its maiden operating profit. Profit before
amortisation, depreciation, taxation and the FRS 20 charge for share
incentives was 0.33 million (2006: loss of 0.26 million).
On 31 May 2007, EBTM acquired Core Brands Limited whose main trading
subsidiary was Lowlife Corporation Limited ('Lowlife'). Since the
acquisition Lowlife has continued to trade well with sales up 40%
year-on-year to the end of the period. However, the Board is adopting a
cautious outlook for the wholesale division in 2008, given current consumer
sentiment on the high street and we expect full year results to fall
materially short of current market expectations.
On 9 July 2007, the intellectual property rights related to the Atticus
clothing brand were acquired. A delay in the appointment of a licensee in
the USA has resulted in lower than expected royalty income. Licensees were
appointed in the USA and Canada post the period end.
On 15 August 2007, EBTM announced an order of some 800,000 for Atticus
clothing from a major high street retailer in the UK. The effect of this
transaction is recognised in the period ended 31 October 2007.
New agreements announced during the period with Kerrang Magazine,
Adeline Street Clothing (associated with the band Green Day) and Clandestine
Industries clothing (associated with Pete Wentz of the band Fall Out Boy).
In the four weeks leading up to the last shipment date for Christmas
2007, online sales were up 47% year-on -year. However, despite record levels
of traffic on our site, sales were below expectations as a result of
disappointing conversion rates associated with the transition to the new
e-commerce platform. However there is a plan to improve conversion rates
back to historic levels by 30 April 2008. This plan is currently on target.
The Board is pleased to announce the appointment of Simon Hargreaves,
formerly a non-executive Director as interim Finance Director whilst EBTM
seeks to make a permanent appointment to this role.
Commenting on the results, David Howell, Chairman said:
'It is pleasing to be able to report a maiden operating profit at this stage.
The acquisition made last year has helped to scale the business and create a
vertically integrated retailer with exciting growth prospects. While the delay
in the appointment of licensees in North America for the Atticus brand and the
technical difficulties we have experienced with our trading platform have
temporarily held the business back and despite our cautious view of consumer
sentiment on the high street, we remain confident that we operate in a growth
market and that we have established a strong platform which has exciting
expansion opportunities in the UK and for future periods internationally.'
Enquiries:
EBTM plc
Richard Breeden, Chief Executive 020 7819 1950
Simon Hargreaves, Finance Director 07768 637643
Nominated Adviser
Nabarro Wells & Co. Limited
Hugh Oram 020 7710 7400
Biddicks
Zoe Biddick 020 7448 1000
Operating Review
The half year to 31 October 2007 has been transformational in the development of
EBTM Plc.
The Group has posted its maiden operating profit of 0.16 million (compared to a
loss of 0.32 million in the equivalent period last year) and is set for
continued rapid expansion. Sales have grown to 3.59 million, assisted by the
acquisitions of the Lowlife businesses and the Atticus brand, compared with
0.52 million in the six months to 31 October 2006, an increase of 590%.
This is a position from which the directors believe we can sustain strong growth
in the future.
During the period, EBTM has made a key acquisition creating a fully vertically
integrated retailer which owns and licenses key clothing brands under the banner
of music inspired fashion, as well as having a significant and fast growing
wholesale distribution network in the UK and Europe and a sophisticated sourcing
network in the Far East.
I am pleased to announce that Simon Hargreaves has taken up the role of interim
Finance Director whilst we seek to make a full time appointment to the position.
Simon was previously a non-executive Director of EBTM plc and a Director of
Lowlife Corporation Limited prior to its acquisition by EBTM last year. His
background is as Group Finance Director of Vanco plc and Chief Executive of its
main trading division, Vanco Solutions..
Online Retail
Online sales have continued to grow. In June 2007 we moved our web platform to
Storefront, maintained by Maginus Software Solutions. This move was necessary to
provide the co-branded web stores which are part of our growth strategy.. The
new platform also allows the creation of single brand stores for our own brands,
all run from a central database and inventory.
However, because the new e-commerce platform required extensive fine-tuning, the
transition has resulted in a reduction in online conversion rates. As we address
and rectify these difficulties, conversion continues to improve but is not yet
fully restored to the level achieved prior to the transition. We are already
beginning to see the benefits of the new platform and are confident that the new
system will enable substantial growth in the product range, the customer
database and most importantly sales.
Online sales in the key four weeks leading to the last shipment date for
Christmas were up 47% year on year but, despite record levels of traffic during
this period, the lower conversion rates resulted in materially lower than
expected sales growth.
A plan is in place to restore conversion rates to historic levels by 30 April
2008. The company is currently on target to achieve this.
Acquisition of Lowlife Corporation Limited
On 31 May 2007, the Company entered into a contract to acquire the entire issued
share capital of Core Brands Limited, whose main trading subsidiary at the time
was Lowlife Corporation Limited ('Lowlife'). Lowlife is a wholesaler of music
inspired clothing and accessories. For the year ended 31 December 2006, Lowlife
reported sales of 3.5 million, and profits before tax of 646,000. At that date
it had net assets of 846,000.
In order to fund this acquisition the Company issued 110,526,315 new ordinary
shares of 0.5 pence each in the capital of the Company at 4.75 pence per share
('the Placing'). EBTM paid a total of 4.75 million prior to costs to acquire
the Lowlife business, which was settled as to 3.25 million in cash, financed by
the Placing and 1.5 million by way of an issue of 26,785,714 new ordinary
shares in the Company to Dale Masters, who owned 100% of the share capital in
Core Brands Limited.
Lowlife's products are marketed under a variety of brand names, some of which
are the subject of third party ownership and for which it pays royalties for the
right to use the brand name.
Lowlife has continued its expansion with sales growth of 40% year-on-year for
the six months to 31 October 2007. However, the Board is taking a cautious view
of the outlook for the remainder of this financial year and into the next given
current consumer sentiment on the high street. Specifically, a view has recently
been taken that several material wholesale opportunities that previously had
been viewed as having a reasonable chance of being closed in the period to 30
April 2008, will not now happen prior to this date.
The financial and operational management of the acquired businesses will be
further consolidated in 2008, creating additional cost synergies
Acquisition of Atticus clothing brand
The remaining funds from the placing were used to acquire the intellectual
property rights relating to the Atticus clothing brand for which EBTM paid
US$4.2 million prior to costs. This transaction was completed on 9 July 2007.
This is a brand which sits squarely with our proposition of music inspired
fashion.
The acquisition of the intellectual property in Atticus ensures that EBTM
controls the design process in house and we no longer have to pay royalties for
sales of the brand. The Atticus clothing brand continues to trade well through
the Lowlife distribution network in the UK and Europe and the savings in royalty
payments, anticipated at the point of acquisition in June 2007, have been
delivered in line with management expectations.
Sales of Atticus continue to grow and on 15 August 2007, EBTM announced an order
of some 800,000 for Atticus clothing from a major high street retailer in the
UK. The effect of this transaction is recognised in the period ended 31 October
2007.
Management believes that working with the right partners is crucial to build
long term value in the brand. The search for an appropriate North American
licensee and the agreement of appropriate terms with the licensee has taken
longer than expected. As a result royalty income from the USA will fall
significantly short of previous expectations in the current financial year and
is now not anticipated to reach a material level until the year ending 30 April
2009.
Since the period end we are pleased to have concluded licence agreements for the
Atticus brand with licencees in the USA and Canada. We will work closely with
our partners and expect to begin to develop revenues from these markets in
future periods.
Brands
Our in-house design and sourcing functions, capabilities acquired with the
acquisition of Lowlife, have started to enable the further acceleration of 'own
brand' products which began in 2006 and the roster of brands which we own or
distribute continues to grow.
Alongside the Atticus clothing brand there are a number of other music inspired
fashion brands which we either own or operate.
Our own brand, Lowlife, has established itself within the accessories market and
there are many opportunities to expand the reach of Lowlife products. We have
also begun to develop two new brands called Panic! and LIFE, which will
complement our existing product portfolio as we move into the next financial
year.
In addition, we entered into wholesale and online retail agreements with Adeline
Clothing (announced on 5 September 2007) and Clandestine Industries (announced
19 September 2007) and since the period end we have entered into a distribution
agreement with Rockett clothing (an established music inspired fashion brand
from California).
We intend to continue to build a strong pipeline of music inspired brands to
augment those already in our stable.
Outlook
The Group is now trading profitably. In the limited period since Christmas,
trading has been encouraging with sales of our own brands continuing to grow as
part of the overall sales mix, thereby enhancing gross margins.
While the directors are confident that the initiatives taken in the first half
year will add to future growth, we are cautious in outlook for 2008. The
temporary difficulties we have experienced with the transition to our new
e-commerce platform and the delay in the appointment of licensees for the
Atticus brand in North America, along with this cautious view for the wholesale
business as high street retail and consumer spending slows in 2008, lead us to
believe that full year results will fall materially short of our previous
expectations.
Richard Breeden
Chief Executive
21 January 2008
trigger45
- 01 May 2008 22:53
- 72 of 80
EBTM PLC
08 April 2008
EBTM.L
EBTM plc
('EBTM' or the 'Company')
APPOINTMENT OF GROUP FINANCE DIRECTOR
EBTM plc, the online retailer and wholesaler of music inspired fashion,
announces the appointment of Ian Richard Collins, aged 40, as Group Finance
Director with immediate effect. He is a qualified Chartered Accountant with 16
years' post qualification experience, largely gained at senior management
positions including within the music industry.
Prior to joining EBTM, Ian was Director of Financial Planning and Analysis at
Sanctuary Music Group ('Sanctuary') from June 2006 until December 2007. While at
Sanctuary, he was part of the team that turned the Recorded Music Department's
performance around in two years to a break even position from a 60 million loss
and introduced strong internal controls and processes to prepare the label for
its eventual sale to Universal Music in 2007.
His previous career included eight years at Virgin Records where he attained the
position of Head of Business Support. Following Virgin Records' merger with EMI,
he was appointed to the same role leading the consolidated EMI and Virgin team
where, reporting directly to the Chief Financial Officer at EMI Music UK, he was
responsible for reviewing the performance of all the UK's divisions as well as
leading their annual budgeting processes.
Ian has held other senior management positions, most notably as Commercial
Director for the Specialist Sector of First Choice Holidays from May 2005 to May
2006.
Ian has been granted 2,500,000 share options which will vest on the achievement
of certain profit targets for the years ending 30 April 2008, 30 April 2009 and
30 April 2010.
There is no further information required to be disclosed in respect of Mr
Collins pursuant to Paragraph (g) of Schedule 2 of the AIM Rules.
Simon Hargreaves, who has been filling the role of interim Finance Director,
will resume his previous position as a non-executive director. In recognition of
the contribution that Simon has made, he has been granted options over 1,000,000
ordinary shares at a price of 2.38p per share. 500,000 of these may be exercised
now and the balance in 18 months' time, conditional on continued employment.
Grant Calton, Commercial Director, has indicated his intention to reduce his day
to day involvement with the business and will relinquish his executive
responsibilities with immediate effect. Grant has agreed to continue his
involvement with the Company as a non-executive director.
Commenting on the changes, David Howell, Chairman, said:
'The business is in a phase of rapid development and I am delighted that Ian
will be joining us at this time. His wide ranging financial experience, both
inside the music industry and outside it, will be invaluable to us.'
trigger45
- 01 May 2008 22:55
- 73 of 80
EBTM PLC
30 April 2008
EBTM.L
EBTM plc
(the 'Company' or the 'Group')
Pre-Close Statement
EBTM plc is an AIM quoted, vertically integrated online retailer and wholesaler
of music inspired fashion. Prior to entering its close period for the year ended
30th April 2008, the Board of EBTM plc today issues the following trading
update.
The Board is pleased to announce that trading for the latter part of the
financial year has been in line with management's expectations at the time of
the announcement of interim results in January 2008. As a result we anticipate
that the Company will report a maiden full year profit before tax. Adjusted
EBITDA and cash generation are expected to be in line with current market
expectations. Revenue for the full year is also expected to be in line with
market expectations and substantially ahead of the previous year, assisted by
the acquisitions made in June 2007. Good progress has been made since our last
update in January 2008 and the Board believes that the business is well placed
for continued growth.
Site conversion issues identified at the time of the interim results have been
addressed successfully and levels are now back to historic rates, with room for
significant further improvement. We continue to work through a company-wide plan
to maximise the benefits to our business of the brands and capabilities acquired
in the acquisitions. In particular, we are making good progress in increasing
the proportion of own brand products within the online sales mix. This has the
effect of enhancing our margins.
The Board is continuing to seek royalties and new revenue streams from its
stable of own brands. Ownership of the Atticus and Lowlife brands secures the
largest source of revenue for the wholesale business, brings margin benefits
both from licensees and from sales made by our own online and wholesale
activities. Signs are encouraging from our licensee of the Atticus brand in
North America and EBTM plc has saved around 400,000 in royalties in this
financial year by virtue of the acquisition of the brand in July 2007. The Board
has also sought further direct international wholesale relationships for EBTM
brands with some success, particularly with Lowlife branded accessories in the
USA.
The wholesale market has performed in line with expectations at the time of the
interim results despite some challenging trading conditions on the UK high
street. As of today's date, the forward order book for delivery in Autumn 2008
is healthy with mainland Europe showing good growth.
Whilst the Board remains cautious about the outlook for the wholesale business
bearing in mind current conditions on the High Street in the UK, the outlook for
the Group remains positive, in particular for the key online retail business.
In addition, the Board announces that on 30 April 2008, David Howell,
Non-executive Chairman, was granted 500,000 options at 2.6p, exercisable on or
after 21 October 2010. They will expire after ten years from the date of the
grant.
trigger45
- 01 May 2008 23:01
- 74 of 80
The interim Results for the six months ended 31 October 2007 was not received very well imho, and the share price has suffered as a consequence.
With the appointment of a new FD and the latest trading statement it looks as if things are finally back on track. The share price responded well on the news today.
http://www.growthcompany.co.uk/news-and-comment/325326/ebtm-into-the-black.thtml
trigger45
- 02 May 2008 10:38
- 75 of 80
Rising strongly again this morning.
maestro
- 03 May 2008 10:52
- 76 of 80
i'll give it to 6p and then take ya profits...i would have bought at 2p but didnt have the funds but got some at 3p
trigger45
- 03 May 2008 15:27
- 77 of 80
My average is higher so I'm hoping for much more than 6p which I think in time I will get. They are not another ASC but have plenty to go yet imho.
Good luck if you sell at 6p maestro. Can't argue with a 100% return. Well done.
trigger45
- 03 Jun 2008 07:36
- 78 of 80
http://investing.thisismoney.co.uk/companyresearch/112939/EBTM/company_research.html
trigger45
- 17 Jun 2008 08:35
- 79 of 80
http://www.investegate.co.uk/Article.aspx?id=200806170700108583W
http://www.investegate.co.uk/Article.aspx?id=200806170700088597W
Very happy with todays news and intend to top up when funds allow.
maestro
- 17 Jun 2008 10:24
- 80 of 80
YES..VERY GOOD...ANOTHER ASOS IN THE MAKING