After years of rapid growth,luxury purveyors in Australia appear to be flatlining,finally caught up in the cost-of-living crisis confronting the nation’s shoppers.
After years of rapid growth,Gucci,Louis Vuitton and other luxury purveyors in Australia appear to be flatlining amid the cost-of-living crisis,but that hasn’t stopped brands jockeying for positions on Perth’s new premium strip.
Spending on fashion for the races has declined with falling crowd numbers,but it still drives millions in sales for Australian brands.
If share prices of Premier Investments and Myer are any indications,this deal is a hit.
Myer will acquire a suite of Premier Investments’ clothing brands in Australia and New Zealand,giving the businessman a seat on its board.
Mosaic Brands,the retailer that owns clothing brands such as Katies,Millers and Noni B,will continue to trade. But the administration process puts at risk the jobs of almost 3000 employees.
The Australian luxury retailer owes more than $16 million to a string of fashion houses from Paris to New York,but was still importing stock and taking deposits just weeks before its collapse.
Buying clothes online is convenient,but it has led to a tide of garments being sent back. Overseas retailers are retaliating with fees – will Australia follow?
Jeffries has been accused of luring men into drug-laced,outlandish and coercive sex parties held around the world by dangling the promise of modelling for the big retailer’s once-defining ads.
The outdoor gear brand sits somewhere between an environmental activist group and a sportswear retailer – and commercial success is often not at the top of its priority list.
Will the billionaires behind the Spotlight group be the White Knight that Mosaic Brands needs?