Today was a maturing process day. Underwhelming in the short...

Today was a maturing process day. Underwhelming in the short term, but some evidence of the right longer term changes being made. The excitement of exponential growth potential has gone for now. We’ll need to wait for vaccines and the return to social formalities in the US to see traditional and core product line dresses selling well in the market of great hope.

Avenue was opportunistic, somewhat fell out of the sky and probably unlikely to be repeated. It has given the management team insight on what can be done in international markets, they’ve learn’t from it, as they have from the Catherine’s auction which made them realise how small they really are.


“Everyone has a plan ‘till they get punched in the mouth” - Mike Tyson.


The new USA marketing leader will assist, so would an elevated focus more broadly in that market. Doubt you can ever be serious with limited USA experienced Board representation and without a CEO spending a lot more time over there.

Whilst Europe and entry into conservative style markets in Australia are touted, seems that we are talking a fair while for them to impact earnings any meaningful way. Dates of mid to ‘late’ ‘21 were stated as milestones. Appears the Board has no option but to sit on its hands and wait. Until then it’s make do with the existing stuff we’ve got.

This is looking like it will be a slower burn, albeit the till is full and the capacity is there for another non organic (quantum) leap, whenever that will be. Not the impression given when Ccx went cap in hand for over $110,000,000 recently and with shareholders now locked into >15% real cash losses as a result. Ouch.

It probably also makes CCX a candidate for the private equity domain rather than being an entity with never ending explosive growth in the public markets. Feel the directors have the long term business’ interests at heart, but doubt they can add a lot of new shareholder value at an accelerated rate, more so tick the box garden variety type stuff on our behalf.