The Retail Apparel Group (RAG), which was bought by private equity firm Navis Capital Partners earlier this year, operates Tarocash, Yd and Connor.
RAG managing director Gary Novis said the stores are doing well and that 18-20 Connor shops are on target to open each year, and eight new Yd stores will also open per annum.
“We are continuing to grow the business and that is and always has been our main focus,” Novis said. “We are always looking out for opportunities and we do hope to have a fourth brand.”
Novis said the fourth business would not necessarily have to be menswear, but stressed it would be in the apparel industry. He said although they are not in discussions with any particular retailer at present, it is something the group is working towards. Since the takeover by Navis, RAG head-hunted Alan Radomsky, the former chief executive from Australian womenswear brand Events. Radomsky had been with the home-grown brand for nearly seven years, but is now one of the top executives at RAG.
“We asked him to join us and the timing was just right, Novis said. “We employ people who are going to help the business grow and he will help us achieve our goals. We would never say no someone who we think is going to be good for us.”
Navis, which has investments in a wide range of businesses including Dunkin’ Donuts, King’s Safetywear and Wendy’s, bought RAG from Champ Investments back in May. Novis said RAG continues to have a good relationship with Champ, which first invested in it back in 2004.
“Champ were looking to exit successfully and Navis saw us as a good investment,” Novis said.
Pippa Chambers