Solid update. In the past my only reservation was their stated...

Solid update. In the past my only reservation was their stated OS growth strategy without exclusivity of licences. Very glad their strategy switch to growing new concepts in Aust/NZ is showing such promise. There are some other good retailers on the ASX, but IMO none better than AX1.

Im guessing that eventually one of their brand partners will want them to go OS and will grant them regional exclusivity somewhere and it’ll make sense to execute that old strategy. In the mean time, plenty of growth at home from their newest concepts thru to their original concepts (revitalised company-run Athletes Foot).