PERY
#Oh, from ---+ are you saying from our own eComm, or eComm overall.
Yes.
You know, this is the first year we were able to get eComm basically to a small profit on a standalone basis, unlike, I would say, most other platforms that are out there in the industry.
We were able to do that by really focusing on specific merchandising assortment within each of the brands.
Within our eCommerce platforms today, we focused on also reducing where there were some duplicative analytics where we felt that we weren't getting a payback, and where we were able to invest in marketing and analytics that we felt could give us a higher eComm ---+ eCommerce lift and better profitability.
And we also closed our C&C eCommerce site this year.
That was one of the lower performing brands within our eCommerce platform.
So, that's also provided us a lift.
As we are looking forward now, and we feel that we've been able to get the right merchandising mix correct on each of the eCommerce platforms, and we can leverage the platform in place, it gives us a comfort level that we can now roll out, in the future, some of our other global brands that <UNK> talked about, and be able to reach the consumer more on a direct basis via that vehicle.
The overall goal for us for eCommerce is to get that up over time into a double-digit profitability from a ---+ from an operating perspective.
Product cost.
Product cost has been favorably affected by the lower prices of synthetic, the lowering of oil prices, have lower prices for the years, so nylon, et cetera.
And custom has been on a kind of decline for a couple of years.
So, basically that is an effective ---+ an effect that will result in improved earnings.
We haven't been able to quantify that.
It's a small number but it's a helpful number, whatever it is.
On the other side, we are focused on vetting ourselves for the TPPA, which Senator Orrin Hatch has taken a very active role in pushing, and especially ---+ and Obama have talked about it for the last couple of years that he would like to see that implemented.
It's a political issue at this point.
And negotiating with several different Asian countries on what can we accept and what they can accept.
But once that is completed, and everybody expects it to be completed, it's going to be a big switch in certain apparel categories to the countries out of China.
Generally speaking, men's companies have always been in the forefront of the changes, because we're more conservative, quote/unquote, than ladies business.
And the men's business can take a longer delivery than ladies.
So, all the big companies today are in ---+ moving to Africa, for example, PVH has established offices in Africa.
So has VF, and we are in that process too.
We have been buying in Africa for a number of years.
So, all of this is going to be good for the apparel business.
We also are doing office consolidation whenever necessary.
Like in China, we are reducing our exposure in China, which will result in improved cost of goods for the group.
So all in all, we are very ---+ we are in a good timing to realize some savings on cost of goods, although labor costs continues to increase in every other country.
Well, we are very focused on the licensing business.
We have improved the staff.
We have a new President in Stanley Silverstein, as announced a couple of years ago.
And we are making a lot of progress on licensing in the Middle East and in the Dubai area, and even in Saudi.
And we have a new manager for Asia out of Hong Kong, which is very active.
So we do expect those areas to start contributing.
And as you know, we are very strong in Latin America with all our brands.
And that will continue being a focus of distribution.
Although Latin America, mostly commodity companies, is not going to be growing this year as they were growing in the past couple of years.
You're welcome.
Thank you very much.
We have done our best to continue improving shareholder value.
And we will continue to do so.
So thank you for your patience.
And we are very, very excited about our future.
