Online catwalk set for boom timeMyCatwalk.com’s recent venture into members-only shopping could be the first of many expansion strategies, after investment firm AR Management entered a shareholders’ agreement to acquire 50 per cent of the business.
Established in 2002, mycatwalk.com stocks over 50 designer labels including Sass & Bide, Willow, Camilla & Marc, Alice McCall, Bassike, Kirrily Johnston, Zimmermann, Rachel Gilbert and Dion Lee. Earlier this month, the company expanded into members-only shopping through its mystylesteals.com.au sister website, offering up to 80 per cent off local and international designer brands.
While AR Management had not issued an announcement to media at time of press, Ragtrader obtained a brief sent out to suppliers of mycatwalk.com. AR Management chief investment officer John Shin told Ragtrader more details on the venture would be announced shortly, but in the statement to suppliers, Shin said there were strong opportunities to grow the brand through its existing investments in the sector.
“We look forward to supporting the company in the next stage of growth which we believe will be significantly enhanced through the injection of our capital. We also believe there will be strong collaboration benefits with Marlene Maglioni through our interests in Col-lect Retail. We believe that MyCatwalk will be a significant online channel for Australian fashion retailing and we look forward to helping the business consolidate its market leading position.”
Boutique chain Col-lect Retail has a small number of stores in select Australian capitals, with founder Maglioni a former buying executive at luxury chain Belinda and partner at designer boutique Robby Ingham. AR Management is part of the Roberts Family Office, founders of development giant Multiplex, which it sold in 2007. The company holds and seeks investments across a broad range of sectors.
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Assia Benmedjdoub