Charles Parsons finds new direction
Driven on the back of a company-wide strategic review, the privately-owned business last month purchased Melbourne-based womenswear group S & R Fashions in an attempt to build on its portfolio of design-led products and companies.
The sale, for an undisclosed sum, was officially signed off on September 29. All staff will be retained.
S & R Fashions, which supplies Myer as well as a host of independent boutiques, is the first acquisition for Charles Parsons since the restructure.
Newly appointed group managing director Mark Bilton said the company was first attracted to the S & R group - which includes the Bless'ed and Kuku labels together with other unbranded product - because it was looking to boost its "garment offering".
"It is not a large acquisition for us but is a very strategic shift. [It] has 60 staff so it was quite a digestible size, yet has enough critical mass to develop.
"I was also very keen to acquire a strong design capability. We need to move from a 'textile business selling garments' to a 'garment business'. That sounds like semantics but has some significant implications."
Bilton, who started at Parsons in March, said the review had shown the Parsons business lacked a "clearly defined articulated direction".
As a result the company now had a new breed of manager in place in virtually every aspect of the business and its customers could expect to see a much more streamlined operation, he said.
"Our existing fabric customers will notice some changes in representation and some consolidation in product offering. However, our garment offering is being enhanced significantly. All customers should experience a lift in design and speed to market but these competencies take some time to realise.
"Come back in two years and you will see a completely transformed business."