The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
CAPE TOWN, South Africa — Woolworths Holdings Ltd., the South African food and clothing retailer which bought David Jones last year, may sell two of the Australian retailer's sites as it looks to revamp other stores in central business districts.
The company is considering selling locations in Melbourne and Sydney, Cape Town-based Woolworths said in an e-mailed statement on Thursday.
Woolworths could raise almost $400 million from the sale, the Sydney Morning Herald said Wednesday, citing Chief Executive Officer Ian Moir.
An improved performance by David Jones helped offset slower growth in Woolworths’s home market in second-half results released last week. The seller of organic foods and clothing bought David Jones last year for about $2 billion to help create a southern-hemisphere retail giant.
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David Jones has 38 stores total, according to its website.
By Janice Kew; editors: Matthew Boyle, Thomas Mulier, John Bowker.
The Japanese apparel chain will be launching its sister brand GU in the US later this year, targeting younger consumers with lower prices and a curated selection of trendy wares.
Canada, France and Ireland are among the countries working with home-grown fashion talent to create uniforms for their teams at this summer’s Olympic Games. For these small labels, it’s an unprecedented opportunity to capitalise on one of sports’ largest events.
The online fashion retailer plans to update China’s securities regulator on the change of the initial public offering venue and file with the London Stock Exchange as soon as this month, a person with knowledge of the matter said.
The company, under siege from Arkhouse Management Co. and Brigade Capital Management, doesn’t need the activists when it can be its own, writes Andrea Felsted.