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Tuesday, September 18, 2018

Kathmandu does well ~ to pay bonus !!


The Licchavis were the most famous clan amongst the ruling confederate clans of the VajjiMahajanapada of ancient India. Vaishali (a city in modern-day northern Bihar) the capital and homeland of the Licchavis, was the capital of the Vajjimahajanapada also. It was later occupied by Ajatashatru, who annexed the Vajji territory into his kingdom.  Kautilya in his Arthaśāstra, describes the Licchavis as a tribal confederation (gaasangha), whose leader uses the title of rājā(rājaśabdopajīvinah). The beautiful land of Nepal, the gateway to Himalayas (Mount Everest !)


Their website reads :  -  when we opened our first store in 1987, Kathmandu was a small specialist outdoor retailer, manufacturing many of our own products. We drew inspiration from our customers: people who saw themselves as travellers, not tourists; people who saw the outdoors as an invitation, rather than something to fear or conquer. We wanted to encourage our customers to get out and explore what the world has to offer – to Live the Dream – and designed products to give people the confidence to go anywhere in the world, whether they are intrepid explorers or backyard enthusiasts. During the 1990s, our focus on design intensified: we became a leader in designing products that are original, sustainable, engineered and adaptive.

It is that of Kathmandu Holdings Limited is a transnational chain of retail stores, selling travel and adventure outdoor apparel and equipment. Kathmandu is a leading retailer of clothing and equipment for travel and adventure in New Zealand, Australia and the UK.   Not sure of the reasoning of the name - Kathmandu was founded by John Pawson and Jan Cameron in 1987 following their sale of the ALP Sports Clothing label. The company set up its first retail outlets in Australia whilst manufacturing most of its original clothing range in New Zealand.  The company was in 2006 fully acquired by an Australasian private equity company and it was listed on the Australian and New Zealand stock exchanges in 2009. 

Kathmandu is the capital city of Nepal.   Kathmandu is also the largest metropolis in the Himalayan hill region. Nepali is the most spoken language in the city which  stands at an elevation of approximately 1,400 metres (4,600 feet) above sea level in the bowl-shaped Kathmandu Valley of central Nepal.  Kathmandu is and has been for many years the centre of Nepal's history, art, culture and economy.  Tourism is an important part of the economy. The city is the gateway to the Nepalese Himalayas, and home to seven world heritage sites; the Durbar Squares of Hanuman Dhoka, Patan and Bhaktapur, the Stupas of Swayambhunath and Baudhanath, and the temples of Pashupati and Changu Narayan. Historic areas of Kathmandu were devastated by a 7.8 magnitude earthquake on 25th April 2015 and have since been reconstructed mostly.

The reason for this post is the news of bonus I read in NZ Herald.  Kathmandu Holdings is eyeing further expansion into the Northern Hemisphere following a record year in earnings and successfully acquiring Oboz Footwear. The outdoor equipment and clothing retailer posted a net profit after tax of $50.5 million for the 12 months ended July 21, up 32.9 per cent, or $12.5m, from the previous year. Sales increased by 11.7 per cent to $497m, and its gross profit increased by 14.2 per cent to $315.5m.  more importantly, Kathmandu is going to pay 1800 of its permanent staff a bonus of $1,000. The company employs 2000 staff.

Still a senior analyst  said the Christchurch-based company could have paid its staff a greater bonus. "A $2 million impact in earnings is very small," he said. "They still delivered a stellar result as well as a higher dividend with shareholders so they could have shared a little bit more of that with staff, which really is a key part of the customer experience."  It is stated that  Kathmandu's full-year earnings were a record result, offset from a turnaround in the Australian business.

~ one keeps reading such articles, day-dreaming something for their own !

With regards – S. Sampathkumar
18th Sept. 2018


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