MELBOURNE: In its annual general meeting today (November 25) Just Group's new owner Premier Investments has announced the details of a wide ranging strategic review of its recent acquisition. Premier chairman Solomon Lew said while all Just Group brands would benefit from the review, underperforming womenswear brand Portmans would undergo a radical transformation.
"Quite simply, Portmans has underperformed and continues to do so. We need to focus on getting the positioning of
the brand right, getting the right product in the stores and providing a compelling ‘in-store’ proposition."
This would include a review of the Portmans' market positioning, as well as the introduction of revamped product and new store concept fit outs, he said.
Meanwhile flagship brand Just Jeans would also be restructured to confront current economic challenges, leveraging the Just Shop loyalty program and focusing on the brand's strengths of denim and casualwear.
Looking at Just Group overall, Premier would also conduct an international review to evaluate expansion options and reduce their pace and investment; introduce a program of cost reduction initiatives; reset the company's cost base for FY09 and beyond and look into the opportunistic acquisition of attractive brands going forward.