Alexander heads for US

By Belinda Smart

24 Apr 2008

MELBOURNE:Sleepwear king Peter Alexander has opened his first US store.

The new store – featuring Alexander's self-named range of sleepwear, lingerie and accessories – opened at Valley Fair Mall, San Jose, California, the first of three opening this year in the state.

A further store would open in May at the Americana at Brand development in Los Angeles, with another set to open in August on LA shopping strip Robertson Boulevard.

Peter Alexander proprietor Just Group had been preparing for the internationational expansion of the brand since mid 2007, confirmed Just Group managing director Jason Murray.

"The Peter Alexander brand is a leader in the attractive sleewear and loungewear market and our product offering is ideally suited to the American market, especially in the dynamic and fashion-conscious state of California," he said.

Meanwhile, in a separate move, Just Group has revealed "serious concerns" over the recent unsolicited offer from Premier Investments.

In a statement released on April 23, Just Group chairman Ian Pollard said the offer presented shareholders with "a very low premium that is well out of step with typical bids. It is highly opportunistic."

If the offer were to procees, dilution, lack of liquidity, an ill-defined strategy and uncertainty about board and management structures introduced additional risks for Just Group shareholders, he said.

"In certain circumstances there also may be adverse capital gains tax impacts for some shareholders who accept the offer."

Pollard confirmed the group's Special Board Committee would evaluate Premier's bidder's statement before making formal recommendation to Just Group shareholders.