Blundy pops up at bombed out City Chic

Womenswear retailer City Chic Collective has finally found some investor support, luring AFR Rich List-er Brett Blundy as its newest substantial shareholder.

Brett Blundy’s BBRC International had 13,697,000 shares as at April 22, according to AACo’s financial report. Louise Kennerley

Blundy started buying shares on December 22, only two days after a poor trading update sent City Chic stock tumbling, and added to his position on December 23, December 29 and again on January 16.

It’s at the point where he owns 17.4 million shares or 7.3 per cent of the company. He picked up his stake for about $7.5 million.

Blundy’s appearance is sure to excite some investors. He’s one of the biggest names in Australia’s retail sector, backing the likes of Bras N Things, Lovisa and Honey Burdette, to help build a multi-billion dollar fortune.