Country Road Group

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Country Road Group
Company typeSubsidiary
Industry Retail
Founded1974
Headquarters572 Swan Street, Richmond, Victoria
Key people
Elle Roseby, Managing Director
ProductsClothing, footwear, accessories, homewares, furniture
Revenue$1.08 billion (2018-19)
Parent Woolworths Holdings
Website countryroadgroup.com.au

The Country Road Group is a middle market clothing retailer with operations in Australia, New Zealand and South Africa. It is a subsidiary of South African company Woolworths Holdings Limited. As of 2024, its brands include Country Road, Mimco, Trenery, Politix, and Witchery.

Contents

History

A Country Road store in Canberra Country Road store in the Canberra Centre August 2020.jpg
A Country Road store in Canberra

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 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 Holdings Limited acquired a controlling interest in the company. [4] It 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 ]

Beginning 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. 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.[ citation needed ]

In June 2009, Country Road launched Trenery, a new brand aimed at the 40-plus market. [5]

In 2012, Country Road purchased Witchery Group, which include Witchery and Mimco. Having built up an 88% shareholding in the company, Woolworths Holdings Limited took full ownership in July 2014 when it purchased Solomon Lew's shareholding. [6] [7]

In October 2016, the Country Road Group acquired menswear chain Politix. [8]

In June 2021, the Country Road Group began selling products from its brands on online marketplace The Iconic. [9]

Brands

The Country Road Group operates the following brands: [10]

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References

  1. 1 2 "The Long Road Back". The Age. The Age. 2003. Retrieved 16 June 2011.
  2. ↑ Country Road swamped by applications Canberra Times 23 June 1987 page 16
  3. ↑ "Australian Clothier Grows in U.S." The New York Times. 11 July 1989. Retrieved 10 October 2014.
  4. 1 2 Our History Country Road Group
  5. ↑ SilvaJelly, Natasha (11 June 2009). "Country Road introduces its elder sibling". The Sydney Morning Herald. Retrieved 12 February 2024.
  6. ↑ South African retailer Woolworths' offer to buy Solomon Lew out of Country Road raises questions ABC News 25 July 2014
  7. ↑ Solomon Lew accepts Country Road offer, ending 17 year battle Sydney Morning Herald 25 July 2014
  8. ↑ Gardner, Jessica (5 October 2016). "Woolworths Holdings buys men's fashion retailer Politix". Australian Financial Review. Retrieved 11 February 2024.
  9. ↑ Bailey, Imogen (15 June 2021). "Country Road Group taps into The Iconic's 17 million monthly visitors". Ragtrader. Retrieved 12 February 2024.
  10. ↑ Greenblat, Eli (29 January 2024). "Country Road Group sales slump on weak consumer sentiment and household savings" . The Australian . Retrieved 16 February 2024.

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