Department store David Jones has secured a new partnership while it deals with a continuing investigation by corporate watchdog ASIC on the sidelines.
The retailer has confirmed that it has entered into an agreement with Australian designer Christopher Esber. The deal will see David Jones become the exclusive stockist of the brand in Australia.
The announcement follows news that David Jones is embroiled in an investigation by the Australian Securities and Investments Commission (ASIC).
It is understood ASIC is examining the purchase of David Jones shares by two of the department store's independent directors just days before it revealed an increase sales figures.
Media reports have identified that the David Jones share register shows non-executive directors Steven Vamos and Leigh Clapham bought a total of 32,500 shares in David Jones on October 29.
Three days later, the company reported its first sales growth in nine months – a 2.1 per cent increase in first-quarter sales, to $424 million.
ASIC is allegedly aiming to determine what information the pair had about the retailer's sale numbers when the shares were purchased.
The grim investigation marks a stark contrast to the retailer's achievement and coup with Esber today.
Twenty-five year old Esber was recently awarded as the Australian winner Woolmark Prize for his his eponymous brand, following a string of other award wins. These include the L’Oreal Melbourne Fashion Festival’s National Design Award and 'Best Up & Coming Australian Designer', Prix de Marie Claire in 2013.
As a global finalist of the Woolmark award Esber will also present his designs in Milan in 2014.
Commenting on the tie-up with Esber, David Jones general manager Sophie Clark said the partnership reflects the retailer's key values to promoting top Australian design talent.
“David Jones has a proud tradition of identifying young up and coming Australian design talent and helping to nurture and grow them into established brands that then go on to expand internationally,” she said.
“We identified Christopher Esber as a very talented young designer whose creations embody a modernised take on feminine dressing through the use of textiles and cut. We believe his unique creative vision will resonate with customers who have already indicated their love of the brand.”
Esber added that the coup marks another positive step in his journey as an emerging Australian designer.
“I am honoured to have been chosen by David Jones to be part of their Australian designer family and excited to be taking the next step in my career with the support of David Jones. David Jones has a strong track record of helping establish young designers and I look forward to growing my brand and expanding my creative vision with their support.”
The Christopher Esber brand will be available in David Jones’ CBD stores as well as its Chadstone (Vic) and Bondi Junction (NSW) stores from February 2014.