Retail billionaire Solomon Lew has something to smile about today, after a number of brands associated with the retail veteran emerged as the big winner in a major reshuffle of brands at department store David Jones.
It has been a difficult few weeks for Lew, who has been described as the “driving force” behind the establishment of a coalition of retailers determined to push the Government to slash the GST exemption on goods purchased from overseas for under $1,000.
Lew and fellow billionaire Gerry Harvey have been heavily criticised for the campaign.
But this morning’s announcement that David Jones is adding 30 new brands is a fillip for Lew’s retail empire.
David Jones said in an announcement to the Australian Securities Exchange that it is adding 30 new brands to its range of exclusive brands.
Among the list are three brands that companies associated with Lew either own or own the Australian license to – Nine West, French Connection and Seed Femme, an offshoot of children’s ware chain Seed.
Lew’s fortune is put at $1.49 billion. As well as owning a large stake in Premier Investments (which owns the Just Group of apparel companies) Lew holds a number of other brands through private vehicles including Playcorp, which is run by his son Peter.
Other winners from the reshuffle include well-known fashion entrepreneur Collette Dinnigan, whose “Collette by Collette Dinnigan” brand will now be stocked by David Jones.
Other labels added by the department store include Willow, Thurley and Bianca Spender, who is the daughter of Australian fashion icon Carla Zampetti.
Brands including Simona, Escada and AG by Arthur Galan have been dumped to make way for the new additions.
James was the editor and publisher of SmartCompany and LeadingCompany for five years. He is now the Australian Financial Review‘s companies & markets editor, and a former BRW editor.
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