$60m pbt on $343m sales: nothing else needs to be said.”Forever...

$60m pbt on $343m sales: nothing else needs to be said.


”Forever New sells women’s clothing, shoes and accessories to mid-market shoppers. Its dresses, for example, start at $99.99 a pop and go up to $219.99 each. The brand embodies “feminine” styles (no goths, punk rockers or androgynous fashionistas shop at its stores) and has built a loyal following for its specialty lines geared at petite and curvy women.Global footprintIt took its first step outside of Australia around 2008 and now sells at 300 retail locations across the globe including Canada, Singapore, China, India, South Africa and New Zealand, concessions in Bloomingdales, Robinsons in Singapore and Debenham’s in the Middle East. It’s just cut the ribbon on its debut London store.Tom Singh, who founded UK retail chain New Look, is selling between 40 and 50 per cent of Forever New. Jessica ShapiroThe business was making at $298 million in annual sales in 2018, and Goenka wanted to hit $500 million in revenue in three to five years when he was interviewed by The Australian Financial Review in mid-2019.Accounts filed with the corporate regulator show ADT Group Holdings, which is the 100 per cent owner of Forever New Pty Ltd, made $343 million in revenue in the 2022 financial year, up from $278.1 million the year before. Profit for the year was $50.4 million (or $60.3 million before tax), also up from $33.1 million the previous year.”