Fashion footwear brand Midas will execute a national store revamp and launch new stores in a bid to revitalise the brand under new ownership.
The label, previously operated by the collapsed Figgins Group, was taken over by Victoria-based company Styling Services in 2010. The company, which also runs shoe brands I Love Billy, Mollini, Top End, Django & Juliette and Cinori, is now looking to evolve the Midas brand via a retail rollout and ‘new look’ stores.
Midas general manager Kate Lunn said the brand’s latest store launch, at the Melbourne Central shopping complex in November, is a pilot for the redesign, with all new stores to follow a similar concept. She also said the brand was now ready to expand and build on its existing store network with additional outlets scheduled for mid next year.
Midas currently operates just five standalone boutiques.
“18 months after the takeover all the dust has settled,” Lunn said. “We’ve got the supply line right, the product right and relaunched the website – all that’s left to do is expand our store presence,” she said.
“We are looking to expand into the Eastern seaboard, so Melbourne, Sydney, Brisbane and the Gold Coast by the middle of next year, with further expansion, such as New Zealand, within the next four years. When the leases of our existing stores come up for renewal we will also be looking at adapting the new fit-out [redesign] to all locations and each new store will have the new look .”
The brand, which also currently operates 12 concession stores within David Jones, is also looking to boost its presence at the department store within the next few months.
“We have one definite new concession store in David Jones Toowong Village [Brisbane], launching in winter 2013 and four more in the pipeline.
“However, at this stage we are not sure of exact locations and timing, at least for another two weeks,” she said. “In this competitive market place we have to keep something to ourselves and nothing is locked down at the present, but we are exploring several options.”
Daniela Aroche