Retail in Asia

In Sectors

Myer’s retail therapy kick

When Australian department store owner Myer bought cutting-edge fashion label sass & bide last year, there was a lot of sniggering from the traditionally bitchy retail industry. The brand created by Sarah-Jane Clarke and Heidi Middleton was part of the David Jones family, and buying the company was viewed as expensive and a slightly unseemly bit of poaching.

It wasn’t Myer’s first foray into vertical integration and since that time the strategy has gained a head of steam. The most recent has been the purchase of another iconic fashion brand, Trent Nathan, and there have been plenty of lesser known ones bought over the past year. Indeed the dire state of the retail market has orphaned many small brands that have faced the reality of either finding a parent or facing bankruptcy.

Over the past 18 months, Myer has been sitting in the best seat at the sushi train of brands, getting to pick those that take its fancy.