The retail billionaire’s end game appears to go beyond just growing these Australian businesses internationally. Rather,it is a plan to establish each as global brands.
The popular stationery and sleepwear brands are set to be spun out of Premier Investment’s stable of brands next year.
This year’s Black Friday deals were some of the best that Australia’s ever seen. But it’s uncertain if retailers can offer the same next year,as discounts eat into margins.
Premier Investments’ chairman Solomon Lew called for federal assistance for consumers,as he notched record sales during Black Friday and lifted earnings expectations.
Now that Solomon Lew has started exercising power within Myer,shareholders will be expecting him to make a difference.
The Smiggle and Peter Alexander owner is pushing forward with the goal of getting international recognition for its consumer brands.
It’s a weakness for retail billionaire Solly Lew,one which he identified in himself:the desire always for one more deal.
Solomon Lew’s Premier Investments,owner of some of Australia’s most-well known retail brands,has announced the surprise exit of its CEO while confirming it is contemplating a demerger.
The owner of Peter Alexander and Smiggle plans to open 30 new stores for each brand as it eyes overseas growth.
Rag trader Solomon Lew is confident Australian consumers are going to keep spending this summer despite higher interest rates.
Former Myer Grace Bros boss Terry McCartney said the department store had ‘found its legs again’,as he comes onboard as a director.