Pyjama king Peter Alexander gets in bed with Myer after 15 years at David Jones
Tuesday, September 17, 2013/
Sleepwear label Peter Alexander has defected from department store David Jones in favour of rival Myer.
The eponymous label, founded by designer Peter Alexander, is part of the Just Group, which also operates brands including Just Jeans, JayJays, Portmans and Smiggle.
Premier Investments released its full year financial results this morning, and reported that it intends to grow the Peter Alexander network by up to 50% over the next three years.
The new arrangement with Myer will see the Peter Alexander brand stocked in Myer stores nationally from February 2014. It will operate 10 women’s concession stores, while 15 Myer stores will have a wholesale offer of the men’s and children’s sleepwear ranges.
The move comes less than a year after former Myer group general manager merchandise Judy Coomber took the leap to Premier Investments (owner of Just Group), where she was appointed group general manager of Peter Alexander sleepwear.
Coomber said in a statement to SmartCompany today that she and Peter Alexander were “delighted to have signed with Myer”.
“We have significant plans for the growth of the brand and believe Myer is the perfect fit for us. We have a broad customer following while still being aspirational. We look forward to partnering with Australia’s largest department store”.
A statement from Peter Alexander said that Myer was the first department store to place a wholesale order with the brand, before it moved to David Jones 15 years ago.
The announcement comes shortly after Myer released its full year sales figures last week, showing a net profit after tax drop of 8.7% to $127 million.
The company reported full year total sales were up 0.8% to $3145 million, which is up 0.4% on a comparable store sales basis. Its exclusive brands sales were up $40 million, which accounted for 20% of sales, and concessions were up $18 million to account for 15.4% of sales.
The department store also invested another $30 million to take full ownership of directional women’s fashion brand Sass & Bide, of which it already had a 65% stake.