Ports 1961 Case Analysis - 1246 Words

CASE STUDY: PORTS 1961 I. Background Ports 1961 is a subsidiary of parent company PORTS International. It was founded in Canada in 1961 by Luke Tanabe in what started as a thriving family business that lost its standing due to mismanagement by Tanabe’s successors. In 1989 the company was acquired by brothers Alfred Chan and Edward Tan. After a global economic recession hit the market, Alfred decided to close all American operations and moved the entire business to China in 1993. He focused on building the first luxury brand wholly made and distributed in Asia. Ten years later, success was evident when the company went public on the HKSE and was named one of the â€Å"Best under a Billion† businesses in Asia Pacific in 2006. In†¦show more content†¦One can argue that if the full ecommerce potential is reached and stores are strategically opened in emerging markets PORTS should see continued growth outside its borders. III. Weaknesses amp; Threats Inasmuch as opportunities for growth are available, PORTS will first have to deal with the imminent challenges it is facing. In May of this year, the Financial Times reported that PORTS â€Å"suffered a 38 per cent share price fall in Hong Kong after its chairman resigned over failure to disclose related party transactions.†(3) The article further explained that â€Å"chairman Edward Tan accepted full responsibility for failing to exercise proper procedures and controls resulting in breaches of listing rules.†(3) In the world of luxury, scandals and negative publicity have no room. PORTS is yet another publicly traded Chinese company facing scandal over corporate governance issues. One has to wonder if the family nature of the business is what permitted a situation of this nature to take place. PORTS would benefit from playing within the rules and steering clear of any new scandals or reminders of the labels’ Chinese origins. Lastly, PORTS is facing another challenge in their own backyard. In a recent turn of events â€Å"luxury goods maker Burberry warned that its sales had stalled in the clearest sign yet that falling demand from China is affecting the onceShow MoreRelatedExport And Import Strategy For The Shipping Lines1045 Words   |  5 Pagesfor any organization of national Importance. Shipping industry indeed is a prestigious establishment of its kind. It needs such framework of the account and financial statement to tackle the financial strategies. All such concept starts from the analysis of the data of preceding years, which are available in the accounts and financial statement of the shipping company. So the conceptual framework of the accounting process has vital importance. 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