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Adastria Co.,Ltd. ( (JP:2685) ) has issued an update.
Adastria Co., Ltd. has decided to liquidate its U.S. subsidiary, Adastria USA, Inc., due to declining profits and challenging international trade conditions. The company plans to reallocate resources to enhance corporate value and focus on growth in Southeast Asia, while ensuring the continued operation of the Velvet, LLC brand.
More about Adastria Co.,Ltd.
Adastria Co., Ltd. operates in the fashion industry, focusing on contemporary apparel. The company is known for its wholesale business, directly managed stores, and e-commerce operations, with a strategic market focus on Southeast Asia.
YTD Price Performance: -12.91%
Technical Sentiment Consensus Rating: Buy
Current Market Cap: €814.4M
See more insights into 2685 stock on TipRanks’ Stock Analysis page.