David Jones

NATIONAL: Department store David Jones is looking to aggressively capitalise on rival Myer's ownership restructure, taking over one of its vacated sites and adding several new apparel brands to its stable.
The department store plans to open three new department stores - one each in Sydney, Melbourne and Brisbane - to capitalise on the sale of Myer to Newbridge Capital earlier this year.
The move sees David Jones taking over the existing Myer store lease at Westfield Burwood Centre, which Myer reported had sales of more than $42 million. It will be rebranded and reopened by April.
The retailer also plans to open new stores in Westfield stores in Chermside -currently being redeveloped, and Westfield's new Doncaster Centre, with building expected for completion late 2008.
In announcing the move via a statement to the stock exchange late last week, David Jones chief executive Mark McInnes said a number of apparel brands had also aligned themselves exclusively with the company. A decision he put down to the Myer sale.
These included Tigerlily and the plus size, intimate apparel and swimwear ranges produced by Sara. It is understood surfwear brand Mambo has also signed a department store exclusive deal with David Jones.
French lingerie label Simone Perele has also signed a five-year agreement to be stocked exclusively by the retailer after severing its ties with Myer last October. At the time Myer downplayed the move, stating that it had had "issues" with the Perele brand for quite some time and would simply use the space for "better-performing, more sought-after" brands.
None of the brands were available for comment at the time of press.
However, in announcing the move, McInnes hinted there may be more poaching to come.
"We have consistently run our company by focussing on having the best portfolio of national and international brands. This remains our strategy and should lead to incremental supply opportunities for our brand portfolio as the industry continues to restructure."
In reference to further store expansion, McInnes said he expected further opportunities to present themselves as the sector continued its restructure.
"We are well positioned to identify and capitalise on these opportunities as and when they arise and we will be actively pursuing them."
For its part, Westfield said the introduction of a "strong performing" retailer, such as David Jones, further enhanced the quality of the stores in its portfolio.