Vanford! Saragosa! Shimano names its star reel performers from the year so far
Tackle giant Shimano has singled out the sales performances of its newly launched flagship Vanford reel (pictured) and updated Saragosa saltwater reel during a Coronavirus-affected first nine months of the year.
In the period, the Japanese company benefited from the global resurgence in fishing following the onset of COVID-19 with a net sales increase of 5%. The company reported fishing tackle sales of ¥59,425 million and an operating income increase of 22.3% to ¥10,263 million. Taking into account its other businesses, including the much larger bicycle components division, total group sales were ¥264,174 million against ¥269,523 million. Earnings reached ¥47,231 million, up from ¥42,799 million a year ago.
Commenting on the performance of its fishing arm, Shimano said: “Outings were restricted in many countries as a measure to prevent the spread of COVID-19, which impacted sales of fishing products. However, after the restrictions were relaxed, fishing regained the attention as an outdoor leisure activity and demand for products increased.
“The Japanese market, after the state of emergency was lifted, garnered attention as a leisure activity. As a result, centering around families, the number of new customers increased and sales of mid-price and popular-price range products were especially favourable. Overseas, on the back of a rapid increase in demand for fishing products sales of mid-price and high-range price products grew in North America, while sales performed well in both the UK and Italy, which are major markets in Europe.
“In Asia, sales in the Southeastern countries showed signs of recovery. In Australia, although some regions are under lockdown due to a second wave of COVID-19, sales are gradually recovering. Under these market conditions, orders for new products were favourable.” It added that its new Vanford and the revamped Saragosa SW reels were particularly well received by the market.
The company said that it expected its full-year sales to rise by 1.9% to ¥370,000 million and operating income to increase 13.7% to ¥77,000 million. Previously, it had predicted a sales decline of 3.6% in the year.