Culture Kings Vegas store thrives, while AKA’s ANZ business struggles
Inside Retail
NOVEMBER 8, 2023
AKA Brands witnessed its Culture Kings business thrive in the US but suffer a decline in Australia during the third quarter of FY23. The NYSE-listed parent company said that its Culture Kings flagship store in Las Vegas has already surpassed its annual revenue target. However, the company attributed a decline in its gross margin to the targeted discounting implemented in Culture Kings Australia and a higher returns rate.
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