SYDNEY: The new owner of trouble boutique shirt brand Herringbone aims to open 10 new outlets in the next 24 months.
The head of the brand's new owner, Germany luxury shirt company Van Laack, said he felt the Australian market had a lot more potential for the brand, something he is keen to exploit.
Speaking to the Australian Financial Review during a trip to Australia, Christian Von Daniels said his company was also looking to take Herringbone to new markets - including New Zealand and eventually the United Kingdom.
"For Australia, I see another 10 points of sale, which is about five monogram stores and another five locations in major department stores over the next two years."
Von Daniels told the newspaper that Herringbone could eventually be one of England's biggest department stores alongside Harrods and Harvey Nichols. It currently operates just 10 stand-alone stores across New South Wales, Victoria and Queensland and is also sold through David Jones.
Van Laack beat off competition from nearly 20 interested parties when it bought the Sydney-based company off founders John Mutton and Matt Jensen after the brand was placed into administration beneath an $8 million debt last December.
Mutton stayed on as the Australian boss while Jensen left.