Briefs
REBEL RUMOURS
SYDNEY: The private equity firm behind Rebel Sport has refused to confirm rumours it is still planning to exit the retail business. Archer Capital partner Peter Wiggs down-played the industry talk in an interview with The Australian. “It's fair to say we'd look at one or two exits over the next 12 months, but I can't really say which one as it's fairly sector-specific,” Wiggs told the newspaper. The denial comes after much talk earlier this year that Archer Capital was planning to exit the athletic apparel and equipment retailer via the launch of an initial public offer. Rebel Sport was a publicly listed company prior to its acquisition by Archer Capital in 2007.
US BLOOM
BRISBANE: Streetwear brand Vanguard has recently added US department store Bloomingdale’s to its list of international stockists. The six-year-old brand for men will go into four of its locations. Pushing into the US has been a major goal for the label, with other stockists including The Oak (New York) and Number A (Los Angeles).
DOWNWARD TREND
NATIONAL: In its analysis of Australian Bureau of Statistics figures, the Australian Centre for Retail Studies noted negative trends in August 2010 for the fashion retail sector. The clothing, footwear and personal accessory category recorded a turnover of $1.498 million for the month. This was down 4.4 per cent on the prior month, and on par with turnover achieved in August 2009. Meanwhile, the news was more dismal for department stores, with $1.324 million in turnover achieved in August 2010. This was down 16.3 per cent on July, and down 1.3 per cent on August 2009. South Australian recorded the most improved retail trend for the clothing, footwear and accessory sector, with August 2010 sales up 19.3 per cent on August 2009.
TAKEOVER TUMBLE
SYDNEY: US retailer The Gymboree Corporation, which operates two childrenswear stores in Australia, is to be acquired by global private investment firm Bain Capital Partners. Gymboree announced the $1.8 billion deal on October 11. The company’s domestic stores are located at Westfield Parramatta and Westfield Eastgardens in Sydney. The company did not reveal how the takeover is likely to affect its international operations.