Myer move to extend its retail options with FSS Retail
Myer may be preparing to launch a fresh acquisition spree for bolt-on fashion and house-ware brands after quietly setting up a corporate vehicle aimed at owning and operating free-standing retail stores.
The move comes as Myer continues to entice upmarket rival David Jones into merger discussions to create a $3.2 billion department store behemoth that is pitched to help both chains slash their cost bases as well as better fend off incursions from the rush of foreign retailers setting up in Australia’s shopping centres and through dedicated online stores.
Documents obtained by Fairfax Media show that 12 days ago Myer established a new corporate entity, FSS Retail, believed to stand for ”Free Standing Stores”, which will potentially aggregate under the national retailer’s wings several new fashion outlets that operate outside Myer’s traditional department store format. Sydney Morning Herald – Read more…
The move comes as Myer continues to entice upmarket rival David Jones into merger discussions to create a $3.2 billion department store behemoth that is pitched to help both chains slash their cost bases as well as better fend off incursions from the rush of foreign retailers setting up in Australia’s shopping centres and through dedicated online stores.
Documents obtained by Fairfax Media show that 12 days ago Myer established a new corporate entity, FSS Retail, believed to stand for ”Free Standing Stores”, which will potentially aggregate under the national retailer’s wings several new fashion outlets that operate outside Myer’s traditional department store format. Sydney Morning Herald – Read more…
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