Luxury fashion retailer collapses owing $16m
An Australian luxury fashion retailer, which spruiked celebrities visiting its store and stocked some of the world’s most famous designers, has collapsed owing $16 million.
After nearly 40 years of operation Harrolds was quietly placed into liquidation at the start of October.
Latitude is offered by other major retailers too.
Was there something specific to Harvey Norman’s marketing?
Yes, read the article and it explains it all, essentially what was promoted didn’t match the credit offer.
Target in Cairns Central is the first in Kmart Group Australia's network of stores to incorporate indigenous artwork. 'Family Tides of Unity' was created by young indigenous designers in Cairns. https://t.co/XnBxGc8G1U #7NEWS pic.twitter.com/G75G2rM32t
— 7NEWS Cairns (@7NewsCairns) October 23, 2024
Yes, but their advertising is similar to every other interest free advertising.
They all tell you to go to terms and conditions and that’s where you find out it’s a credit card.
The first look at what Melbourne’s Metro Tunnel stations’ retail space has been revealed, offering commuters access to a number of big brands.
IGA, People’s Coffee, and Sushi Sushi, along with global giants like Starbucks, KFC, and 7-Eleven have been confirmed so far, with more expected to be announced in the future.
Around 60 per cent of the retail space has been filled already across 4,000sq m at Arden Station in North Melbourne, Parkville Station, Anzac Station on St Kilda Rd, and the bustling State Library and Town Hall stations.
It’s also more the fact they advertise it as interest free for 24 months or whatever but it isn’t they charge a monthly fee during the apparent interest free period so if you don’t pay it back within the interest free period you are in for the monthly fee plus the interest which is bad for the uninformed.
They should ensure the advertising is clearer in particular for the aspirational lower income customers. Sometimes you’ll be better getting a interest free credit card for 6 months without the monthly fee as long as you pay the balance before the interest free period ends.
Hopefully they last longer than Southern Cross.
Mosaic Brands, the company behind Australian fashion brands including Rivers, Katies and Noni B, has entered voluntary administration, putting almost 3,000 jobs at risk.
The company, which operates more than 700 retail stores around the country, confirmed the decision in a statement to the Australian Securities Exchange (ASX) on Monday afternoon.
They had way too many brands in its portfolio, and many are quite stale. I have never found their stores enticing when walking past.
You can’t really give any retail guidance at the moment, the future is quite uncertain. Promotions are really starting to pick up again, margins will start to trend south. Most are all reporting a slowdown in sales, either flat or slightly negative.
Going to be a very competitive Nov and Dec for retailers, expect some good promotions across the industry.
Where will older dads get all their clothing from if Rivers closes?
Lowes?
When Rivers first opened, it had high quality menswear. It sat somewhere between Country Road and RM Williams. At one stage they had several city stores and a store in every major suburban shopping centre.
They’ve gone bust before and been revived…probably a few times. Each time they came back, they had cheaper and cheaper merchandise. They are probably on par with Lowes, KMart, Big W. They currently advertise T-shirts ftom $5.44. Shirts from $14.99. Footwear from $16.78.
There were already very few stores still left in business. About 5 in Sydney and all in the western suburbs.
And Big W, K-mart, Target… Still heaps of places for cheap clothes.
Financial documents lodged with the corporate regulator reveal Chemist Warehouse made $489 million from selling marketing and advertising in the year to June 30, down from $604 million the year before and $638 million the year before that.
Its overall revenue has grown over the past three years despite its falls in media. Advertising accounted for 21 per cent of revenue two years ago. This past year, it was 15 per cent.
On Friday, Chemist Warehouse hosted 2000 people at Melbourne’s Margaret Court Arena for its 2½-hour annual supplier event, which gives a slick and flashy glimpse into the inner workings of one of Australia’s largest private businesses.
Japanese-style convenience store Suupaa is coming to the inner Melbourne locality of Cremorne (in Richmond) in early 2025.
Myer buys Just Jeans, Jay Jays and Dotti in Premier Investments deal - ABC News
Myer has struck a deal with Premier Investments to purchase its clothing division Apparel Brands, which includes Just Jeans, Jay Jays, Portmans, Dotti and Jacqui E.
The combined group will have more than 780 stores across Australia and New Zealand, with around 17,300 employees.
Premier will retain ownership of its Smiggle stationery brand and sleepwear label Peter Alexander.