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Volley and Shoe Warehouse among footwear casualties at Pacific Brands
2014/11/21 9:35:02 Source: footwearbiz Author: 点击率:

Australian group Pacific Brands has sold its footwear and outerwear businesses – including Volley, Grosby and Julius Marlow – as well as exclusive licences for Superdry, Clarks and Hush Puppies in Australia to a local private equity firm.

The business sells through department stores and discount department store chains, as well as around 50 branded retail sites and several websites. Brand Collective also owns the Shoe Warehouse chain of discount footwear stores.

Anchorage Capital Partners says it has “developed a comprehensive rejuvenation plan” for the businesses, which reported a loss of $22 million in 2013-2014. “The divestment represents good value to our shareholders for an unprofitable division,” said Pacific’s CEO, David Bortolussi.

Anchorage managing director Simon Woodhouse added: “The business has an enviable brand portfolio and we believe that with the right focus and investment we can establish Brand Collective as the leading house of brands in the Australasian region.”

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