$20 Million Dollar Sales in FY06
Ending March 31, Ten Thousand Villages U.S. purchased $6.5 million worth of handicrafts from our artisan partners, an increase of $1.4 million from 2005. The Austin store’s fiscal year will end on June 30, I’ll be sure to report on our numbers then.
Here are some highlights from the outgoing CEO’s, Paul Myer, letter:
For the year ending March 31, 2006 sales totaled $20,135,080 representing an increase of more than $4 million or 25 percent over a year ago.
Likely the least understood and most undervalued asset we have is the wide network of relationships around the world, where trust and expectations are very high. It is a rich legacy we want to respect and continue to nurture in this, our 60th year.
Other highlights of the year included the opening of five new stores, double-digit same-store sales, and strong Festival Sales. The e-commerce site launched in August 2005 exceeded expectations.
The Board of Directors and management have adopted a new 3-year business plan, which went into effect April 1, 2006.
Relationships are first and foremost in our fair trade formula. However, there’s no denying the tangible impact of sustainable year-over-year growth and $6.5 million worth of purchases from underemployed and unemployed artisans.