Smiggle, Peter Alexander slated to become standalone companies in 2025

  • 📰 theage
  • ⏱ Reading Time:
  • 40 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 77%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

The popular stationery and sleepwear brands are set to be spun out of Premier Investment’s stable of brands next year.

Stationery brand Smiggle and sleepwear business Peter Alexander will be spun off from Premier Investments’ portfolio of brands next year to become ASX-listed retailers in their own right and turbocharge international expansion plans.

The spin-offs would mean each business would have a board of directors and management team singularly focused on the standalone brand, he added. “In the event that the business does get spun out, it will have a separate board, it will operate independently, and in some instances, will be able to move a lot faster,” Lew said. “There’s a lot of effort going into international growth.”

Smiggle’s global sales dipped 3.6 per cent to $183.9 million in the first half of the 2024 fiscal year as families juggled cost of living pressures. Meanwhile, Peter Alexander’s sales shot up 6.7 per cent to $279.3 million. In the first half of the 2024 financial year, six new stores were opened, four stores were expanded or relocated, and a further three are set to open between now and July.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 8. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

‘Destroyed’ rookie praised after ‘hugely impressive’ debut shakes up 2025 driver market‘Destroyed’ rookie praised after ‘hugely impressive’ debut shakes up 2025 driver market
Source: FOXSportsAUS - 🏆 24. / 51 Read more »