Finalist Feathers
Iconic Melbourne retailer Feathers has a heritage dating back to the 1970s - when owner and founder Margaret Porritt opened a boutique stocking high end Australian designer labels - and has evolved into a thriving chain with a strong Myer concession business.
Feathers has stocked Porritt's own designs since the mid '90s and targets the "grey dollar" or as Porritt herself puts it the "60-year-old woman who looks 40 or 50".
Just as Porritt's first self-designed collection marked a change of direction away from stocking other labels, the past 12 months have illustrated her ability to adapt to the changing needs of the market place once more by initiating a shift towards a more "designer" profile.
The change was triggered by an increasingly tough retail climate, caused - among other things - by rising fuel and property prices, which resulted in flat sales for the last financial year, after 10 years of impressive growth.
"It's been a tough year and retail is certainly not like it used to be, so there's been a real shifting of priorities. There will be more linens and knits, more point of difference and a more 'special' look and feel.
"The pricing will be under [high-end designer labels] Carla Zampatti, Bettina Liano and Scanlon & Theodore, but with a similar sort of profile," Porritt says.
In some cases Feathers' runs will drop by as much as 50 per cent.
"[Spanish fast fashion giant] Zara is now leading the world. They're doing drops every two to four weeks and producing much shorter runs, and we have to be wise to that. It's about educating customers that if you don't get it now it'll be gone in two weeks."
Feathers will also roll out a revamped store fit out to reflect the change in direction.
"It's more 'luxe' than it used to be. We've got new racking and we're putting chocolate carpet down to give the stores a more current look."
Porritt likes to stay abreast of current trends in all aspects of her business, and nowhere more so than in the area of retail technology.
"Integrated technology is very important for tracking the best and worst sellers on a weekly basis. It's locked to our back office system and I consult back office reports on a monthly basis, stepping it up to a weekly basis if times are tough."
Feathers has always operated a flat management structure and is now moving towards self sufficient capsules where each team operates independently.
Staff participate in external formal training programs as well as in store training.
Porritt does not operate a staff incentives scheme but staff are paid above the award and their individual schedules are accommodated wherever possible.
"I operate in line with a full enterprise agreement and had a flexible roster before 'family friendly' was a buzzword. It's about treating staff like adults. I find if they stay for a year they stay forever."
In terms of its customers, Feathers operates a relationship based VIP customer scheme, with no formal spending threshold. Last year saw the launch of Feathers "VIP tea parties" as a way to give loyal customers a sneak preview of new season stock.
Porritt is "very happy" with the new collection; both from a design point of view but also because - by her own admission - she is planning for succession and the long-term future of the business.
Despite the challenges of the last year, she is confident that Feathers is back on solid ground.
The Myer business is travelling well, particularly in Feathers' and Myers' "home town"; the Myer Melbourne Feathers concession reported a 48 per cent sales increase in the first half of the year on the previous corresponding period.
"Given how well the Myer business is going, I might well develop pieces specially for Myer, which would be a very good way to expand into other states," she says.
So much for succession planning. It appears Porritt's vision and energy are unlikely to allow her to stand still for long.