Melbourne, Australia, 2015-9-10 — /EPR Retail News/ — Myer CEO and Managing Director Richard Umbers today announced Myer has formed an exclusive partnership with TOPSHOP TOPMAN to become the brand’s department store partner in Australia.
“On the day we unveil our New Myer strategy, I am delighted to announce Myer has entered into an agreement which will bring this iconic British fashion brand to Myer’s customers,” Mr Umbers said.
“Today’s announcement is a powerful validation of Myer’s commitment to delivering inspiring brands and wonderful experiences as we set out to bring the love of shopping to life.”
In forming this partnership, Myer will make a 25% investment in the Australian TOPSHOP TOPMAN franchisee (Austradia Pty Ltd) with its seven existing TOPSHOP TOPMAN Australian stores, and will roll out concessions in more than 20 Myer stores, commencing from November 2015. This investment will enable Myer to share in the success of the future growth of TOPSHOP TOPMAN in Australia
“TOPSHOP TOPMAN is a wanted brand globally and fully aligned with our strategic objective to provide a sharper, more focused offer to our customers. The brand brings to Myer outstanding fashion and cutting-edge design for customers who appreciate up-to-the minute and affordable fashion,” Mr Umbers said.
TOPSHOP and TOPMAN in-store concession spaces will play a key role in giving Myer’s customers a unique shopping experience in Myer stores, similar to that which is already enjoyed by other leading department stores around the world, including Nordstrom and Selfridges.
Hilton Seskin, Chairman of TOPSHOP TOPMAN Australia said, “TOPSHOP and TOPMAN will offer the Myer customer a different experience, delivering fresh new product into store twice a week. TOPSHOP is the only high street fashion brand to show on the official schedule of London Fashion Week, which validates and continually asserts our position as the global fashion authority.
“This is a very exciting time for our company to take this great proposition to Myer’s customers. The Myer partnership brings scale to the business within the Australian market. The international design team from TOPSHOP TOPMAN UK ensures seasonally relevant, constantly updated product that reflects the local market’s demand for global trends direct from the runway.
About Austradia Pty Ltd
Austradia is the exclusive franchisee of TOPSHOP TOPMAN in Australia, founded by successful retailer and Rebel Sport founder, Hilton Seskin. Austradia currently operates seven standalone stores in Australia, three in Melbourne, two in Sydney and one in each of Brisbane and Perth, which have driven 35% per annum growth over the past two years.
About Arcadia Group Limited
Arcadia Group is a leading British retailing company which owns a number of globally recognised fashion brands including TOPSHOP TOPMAN, Dorothy Perkins, Miss Selfridge, Outfit and Wallis and is owned by Sir Philip Green and associates.
Flagstaff Partners and King & Wood Mallesons acted as financial and legal advisers to Myer.
For further information please contact:
Rhys Ryan, Interim General Manager Corporate Affairs and Media, +61 (0) 427 227 719
Mel Ward, Corporate Affairs Manager, +61 (3) 8667 7596 or +61 (0) 438 101 078
Adriana Glass, EVHPR for TOPSHOP TOPMAN, +61 2 9358 0600 or + 61 (0) 404 642 927