Makes sense I guess to TO Myer and use their 'stores' to house all of your other brands ... Sol has been whinging about how expensive rents are for his individual street stores like Just Jeans etc are
Lew’s clothing interests may be driving Myer play
The Australian
12:00AM October 2, 2017
Retail billionaire Solomon Lew’s private clothing companies and his ASX-listed Premier Investments supply just over $200 million of apparel to department store Myer, and this could be motivating the stoush with the department store.
Mr Lew’s sprawling business interests are the largest non-cosmetics supplier to Myer.
The next flashpoint between Mr Lew and Myer is set to emerge on November 1 when Myer holds a strategy day for analysts and investors that is expected to focus heavily on its “New Myer” turnaround strategy and its online aspirations.
There is also an increasingly popular view within Myer that Mr Lew’s grab for control of the department store could be fuelled by a grand property play, as his Premier group retreats from costly leases with shopping centre landlords to shift to much more cheaper, and potentially cosy, concessions within Myer.There are concerns that a trading update at the strategy day could also confirm disappointing sales since the release of Myer’s full-year results in last month, further infuriating Mr Lew, who became Myer’s biggest shareholder earlier this year and is now agitating for a boardroom shake-up ahead of a possible takeover bid.
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