Australian-born, global fashion brand Forever New has lifted group turnover to around $400 million in its 20th year of trading, with about half of that revenue now generated outside Australia.
Founder and CEO Dipendra Goenka said turnover had grown from approximately $270 million in FY19, despite pandemic disruption and wider upheaval across global retail.
“Our 20th year has been one of renewed momentum,” Goenka told Ragtrader, pointing to growth across several international markets and improved trading in Australia, particularly through physical stores and concession partners.
Australian store performance strengthened meaningfully in the second half, while India, South Africa, Canada and the UK also contributed positively.
The Melbourne-founded brand opened its first store in 2006. It now operates across more than 24 countries, with a presence spanning Australia, New Zealand, India, Canada, the Middle East, South Africa, Ireland, the UK and the US. This includes around 466 stores, concessions and outlets, as well as online presences.
Five years ago, Australia accounted for a materially larger share of revenue. Goenka said the shift towards international markets has diversified the group and exposed it to different consumers and seasonal cycles.
“We do not view international expansion as simply exporting an Australian model,” he said. “Each market requires local knowledge, the right product mix and, in many cases, strong local partners.”
The United States is a key part of that push. Forever New launched its Ever New direct-to-consumer website and a Bloomingdale’s online partnership in April 2026, building on its existing Nordstrom presence.
The business is now preparing to open its first standalone US store, in Texas.
Goenka said early results had confirmed there was room in the US market for the brand’s positioning, and the business was still learning which categories, price points and regions offered the strongest opportunity. The next phase would focus on expanding digital and department store distribution and selectively adding partners.
“The objective is not to chase a large store count immediately, but to establish a profitable and scalable foundation for the next phase of growth,” he said.
Elsewhere, Forever New will take a market-by-market approach to its network over the next three years. In Australia, the focus is on productivity and being disciplined about sites that no longer meet expectations, while India, the Middle East and North America remain growth priorities.
The brand is also testing formats ranging from larger flagships to smaller, curated boutiques.
“The future network will therefore be more flexible, more locally relevant and more productive, rather than simply bigger,” Goenka said.
Product has also broadened beyond the brand’s traditional strength in dresses and occasionwear. Workwear, knitwear, jackets, separates and casual lifestyle product are becoming increasingly important.
Goenka said customer research showed the offer was already broader than many non-customers perceived, making that shift in brand perception a growth opportunity.
The brand’s 20th anniversary was marked with an event at The Cutaway, Barangaroo, on October 13, hosted by Bambi Northwood-Blyth, a face of the brand’s 20th anniversary campaign.
Managing director Carolyn Mackenzie told guests the brand had built genuine international scale while staying clear on its customer.
“Reaching twenty years is an important milestone, but what excites me most is what comes next,” Mackenzie said.