Retail in Asia

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DJs out, Myer in at Melbourne’s Fountain Gate

Seven years and AUD10 million (USD6.4 million) after it first tried to get Westfield Group to let it off the hook on its 25-year lease at Melbourne’s Fountain Gate shopping centre, Australian department-store chain David Jones appears to have won.

It seems that Westfield only relented, however, after rival Myer signed on the dotted line for a 12,000-square-metre store in the same centre.