SYDNEY: Corporatewear retailer Herringbone is back in business. Just months after collapsing beneath a $13.8 million debt, the premium brand has announced new distribution plans and is set to open its first international retail store outside of New Zealand.
The company was acquired by 128-year-old German luxury goods brand Van Laack in March, after tough trading conditions saw its directors voluntarily appoint administrators late last year.
However Herringbone managing director and co-founder John Mutton, who retained his position following the sale, said the brand was now preparing to expand its presence across both the Australian and international markets.
This included increasing distribution at national department store David Jones – from representation in Melbourne and Sydney to major capitals across the country – and the launch of a retail site at Sydney Airport’s International Terminal in December.
Herringbone currently operates 10 stores in Australia and employs a team of 50 across its head office and in its numerous retail sites.
The majority of the company’s production, marketing, design, information technology and warehousing capabilities are now managed by Van Laack with public relations work outsourced to Sydney-based agent Adam Worling.
Mutton said while Van Laack and Herringbone had already shared 95 per cent of their suppliers prior to the acquisition – including the same fabric mills – Herringbone’s own suiting, tie and sock manufacturers were retained after the purchase.
“Van Laack have factories all around the world and to be honest, they build a much better shirt than we used to,” he said. “Their production department also moves very quickly – eight weeks after they bought the company, we received our first product drop in Australia.
“Building an online component is the big next move for us and that will all be managed from Germany.”
Van Laack’s international distribution network has also helped the company secure its first international client in UAE, Mutton said. He said Herringbone would open its first store-in-store at a luxury hotel in Dubai in October and was in discussions with several major department stores in Europe.
Van Laack is available across 14 countries and counts Harrods (UK), Takashimaya (Singapore) and The Galeries Lafayette (Berlin) among its major department store clients.