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Made in Haiti reports loss, Pop Up Shop Sales decline for 2011.
Its annual report says sales feel and projects an operating loss for 2011. CEO CF Bazile says Made in Haiti's situation isn't as bad as it seems, predicting a ‘recovery year.’
January 21, 2012 By Andrea Change, Apparel News Watch
Made in Haiti said it's pop up shop sales declined and it lost money in 2011, and it warned that several risk factors this year could force it to seek finical protection if business doesn't improve.
In it's 2011 annual report, filed Thursday the Los Angeles / Port Au Prince repurposed clothing company- reported sales of $35 hundred last year, a 4.6% decline from 2010.
An up swing in sales occurred in December 2011, a record number of purchases by Haitians, at the Ghetto Biennale Pop up Shop. Customers purchase a garment for 20 goudes (same price as a bottle of water), about 25 cents US. Customers were lined up before the shop opened, Made in Haiti takes this as a hopeful sign demand will continue.
Taken from the Made in Haiti, blog http://madeinhaiti09.wordpress.com
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