Universal Store

Last updated

Universal Store Holdings Limited
Type Public
ASX:  UNI
Industry Fashion retail
Founded1999;24 years ago (1999)
Founders
  • Greg Josephson
  • Michael Josephson
Headquarters
Brisbane
,
Australia
Key people
Alice Barbery (CEO)
Website universalstore.com

Universal Store Holdings Limited is an Australian fashion retail company. It operates stores under the Universal Store, Thrills and Perfect Stranger names. The company was founded in 1999 by brothers Greg and Michael Josephson. It was purchased by private equity investors in 2018 before going public on the ASX in 2020. As of 30 June 2023, there are 77 Universal stores, 8 Perfect Stranger stores and 10 Thrills stores around Australia. [1]

Contents

History

Universal Store was founded in 1999 by brothers Greg and Michael Josephson. They opened their first store in the Brisbane suburb of Carindale. [2]

In 2018, the business was purchased by a consortium of three private equity investors for an estimated $100 million. [2] The company floated on the Australian Securities Exchange (ASX) on 17 November 2020. [3] In September 2022, Universal Store acquired Cheap Thrills Cycles – the company behind the brand Thrills – for $50 million. [4]

Stores

Universal Store

Universal Store sells clothing aimed at 15–34 year olds. It stocks products from brands such as Herschel, Wrangler, Converse, Abrand and Kiss Chacey. It also sells its own private label brands which include Perfect Stranger, Luck & Trouble, Common Need and Token. [5] As of 30 June 2023, there are 77 Universal stores. [1]

Perfect Stranger

Womenswear brand. As of 30 June 2023, there are 8 Perfect Stranger stores. [1]

Thrills

Thrills was founded in 2011 by Brooke McGregor, Tabitha McGregor and Ryan Collins. [6] The brand sells vintage-inspired apparel with a focus on sustainable fabrics and production. [6] The company started as a vintage motorcycle import business but the popularity of their first T-shirt collection led them to shift to fashion. [7] The company's first retail store was opened in 2014 in Byron Bay. [8] In 2020, the company expanded to Japan with a store in Tokyo and in 2021 the brand was made available through stockists in the United States. [7] Thrills was acquired by Universal Store in September 2022. [4] As of 30 June 2023, there are 10 Thrills stores. [1]

See also

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References

  1. 1 2 3 4 "FY23 Results Presentation" (PDF). Universal Store Holdings Ltd. 24 August 2023. p. 6. Retrieved 30 August 2023.
  2. 1 2 "Universal Store taken over for $100m". Business News Australia. 28 September 2018. Retrieved 30 August 2023.
  3. ↑ Powell, Dominic (17 November 2020). "Universal Store still keen on physical stores as shares soar on ASX debut". The Sydney Morning Herald. Retrieved 30 August 2023.
  4. 1 2 Pattabiraman, Rakshnna (27 September 2022). "Byron Bay fashion brand Thrills sold for $50 million". Inside Retail. Retrieved 30 August 2023.
  5. ↑ Mitchell, Sue (24 September 2018). "Universal Store in $100m private equity-backed management buyout" . Australian Financial Review. Retrieved 30 August 2023.
  6. 1 2 Robin, Jo (21 September 2020). "The Newest Collection From Byron Bay Streetwear Label Thrills Is Its Most Sustainable Yet". Broadsheet. Retrieved 30 August 2023.
  7. 1 2 "10 moments from 10 years: Thrills celebrates decade in business". Ragtrader. 22 March 2021. Retrieved 31 August 2023.
  8. ↑ McDonnell, Josh (15 March 2017). "Thrills: "if we don't have it we don't spend it"". Ragtrader. Retrieved 31 August 2023.
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