The Country Road Group is a middle market clothing retailer with operations in Australia, New Zealand and South Africa. It is a subsidiary of Woolworths South Africa. Its brands include Country Road, Mimco, Trenery, Politix, and Witchery.
 | |
| Company type | Subsidiary |
|---|---|
| ASX: CTY | |
| Industry | Retail |
| Founded | 1974 |
| Founder | Stephen Bennett |
| Headquarters | 572 Swan Street, Burnley, Victoria |
Key people |
|
| Products | Clothing, footwear, accessories, homewares, furniture |
| Parent | Woolworths South Africa |
| Website | countryroadgroup |
History
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Country Road was founded in 1974 by Stephen Bennett, initially as a niche women's shirting label.[1] It grew rapidly to become Australia's first lifestyle brand.[1] In 1981, Myer purchased Country Road, before listing it on the Australian Securities Exchange (ASX) in 1987.[2] In 1988, it expanded into homewares and the American market. By 1980 it was selling women's apparel and had products in department stores as well as in ten Country Road stores.[3] In 1984, Country Road began producing menswear, then in 1986, it began producing accessories. Its growth during the 1990s extended in both product range and location, operating over 100 stores at its peak.[4]
In 1998, Woolworths South Africa acquired a controlling interest in the company. However, Woolworths was unable to take the Country Road private due to Solomon Lew refusing to sell the 11.67 % stake held by his family company Australian Retail Investments.[5][6]
Country Road was relaunched in July 2004 as a company that has higher volume sales and lower product prices, with its head office in Burnley, Victoria, and the Australian flagship store at Chadstone Shopping Centre.[citation needed]
In 2003, Country Road entered into an exclusive agreement with Myer department stores. Under this agreement, Country Road agreed to sell exclusively to Myer and not to its main rival, David Jones.[7] It also included joint marketing and in-store visual merchandising. This arrangement ended in January 2007 when Country Road became a concession store in David Jones and Myer stores. There were also stores in Boston, Chicago, New York City and other cities in the United States, as recently as 2000 or later, which closed due to weak sales.[8]
In June 2009, Country Road launched Trenery, a new brand aimed at the 40-plus market.[9]
In 2012, Country Road purchased Witchery Group, which include Witchery and Mimco. Having built up an 88% shareholding in the company, Woolworths took full ownership of Country Road in July 2014 when it purchased Solomon Lew's shareholding for $200 million with the company delisted from the ASX.[10][11][12]
The Country Road Group acquired menswear chain Politix in October 2016.[13]
In June 2021, the Country Road Group began selling products from its brands on online marketplace The Iconic.[14]
In February 2024, Country Road Group chief supply chain officer Rachid Maliki left the company after allegations of sexual harassment and bullying. Mehmed Mustafic, a general manager, left the company the following month after allegations of workplace bullying.[15] Staff dissatisfaction over the company's handling of their complaints and allegations that CEO Raju Vuppalapati had protected Maliki led to the scandal being made public in the media in May 2024.[16]
Brands
editThe Country Road Group operates the following brands:[17]
- Country Road
- Mimco
- Trenery
- Politix
- Witchery
References
edit- ^ a b "The Long Road Back". The Age. Fairfax Media. 2003. Retrieved 16 June 2011.
- ^ Country Road swamped by applications Canberra Times 23 June 1987 page 16
- ^ "Australian Clothier Grows in U.S." New York Times. 11 July 1989. Retrieved 10 October 2014.
- ^ Our History Country Road Group
- ^ Evans, Simon (26 November 1999). "$80m debt load sinks Sportsgirl". Australian Financial Review. Retrieved 17 February 2024.
- ^ Treadgold, Tim (9 July 1999). "Out of South Africa". Australian Financial Review. Retrieved 17 February 2024.
- ^ Solly Lew asks Country Road if it's fair dinkum Sydney Morning Herald 18 June 2004
- ^ Country Road stays the distance in US Australian Financial Review 29 May 1992
- ^ SilvaJelly, Natasha (11 June 2009). "Country Road introduces its elder sibling". Sydney Morning Herald. Retrieved 12 February 2024.
- ^ Verrender, Ian (24 June 2014). "Woolworths' offer to buy Lew out of Country Road raises questions". ABC News. Retrieved 17 February 2024.
- ^ Greenblat, Eli (25 July 2014). "Solomon Lew accepts Country Road offer, ending 17 year battle". The Sydney Morning Herald. Retrieved 17 February 2024.
- ^ Country Road Limited: Removal from Official List Australian Securities Exchange 3 September 2014
- ^ Gardner, Jessica (5 October 2016). "Woolworths Holdings buys men's fashion retailer Politix". Australian Financial Review. Retrieved 11 February 2024.
- ^ Bailey, Imogen (15 June 2021). "Country Road Group taps into The Iconic's 17 million monthly visitors". Ragtrader. Retrieved 12 February 2024.
- ^ Greenblat, Eli (29 May 2024). "Country Road Group staff complaints made in December employee survey". The Australian. Retrieved 7 June 2024.
- ^ Deery, Shannon; Douglas, Carly (27 May 2024). "Country Road Group engulfed by sexual assault scandal". Herald Sun. Retrieved 7 June 2024.
- ^ Greenblat, Eli (29 January 2024). "Country Road Group sales slump on weak consumer sentiment and household savings". The Australian. Retrieved 16 February 2024.
Further reading
edit- "Getting back on track". News.com.au. 5 June 2011. Archived from the original on 4 June 2011.
- "Metcash triumphs, Franklins struggles". Business Report. 28 October 2007. Archived from the original on 28 October 2007.
{{cite web}}: CS1 maint: unfit URL (link) - Schmidl, Engel (1 August 2012). "Country Road snaps up Witchery: More retail consolidation to come". SmartCompany.
External links
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Media related to Country Road (retailer) at Wikimedia Commons