Country Road

Country Road
Private
Industry Retail
Founded 1974
Headquarters Melbourne, Victoria, Australia
Key people
 Darren Todd, Managing Director
Scott Fyfe, CEO
Products Clothing, footwear, accessories, homewares, furniture
Revenue $237.6 million (FY06/07)
Number of employees
 10,001
Parent Woolworths Holdings Limited
Website www.countryroad.com.au

Country Road is a middle market clothing retailer located in Australia, New Zealand and South Africa with 68 free standing stores and 77 department store concessions. South African company Woolworths Holdings Limited is the ultimate parent company of Country Road, whose offer of $17/share as accepted on 4 September 2014.[1] The brand has a customer loyalty program which enables members to receive special offers and early invitations to sales. It was changed in 2007 to require members to spend a minimum amount annually to receive benefits.

The company produces women's clothing, footwear & accessories; men's clothing, footwear & accessories; children's clothing; and homewares. In 1981, Myer purchased Country Road, but was sold in 1987-88 and listed on the share market. In 1984, Country Road began producing menswear, then in 1986, it began producing accessories. In 1988, it expanded into homewares and the American market. In 1998, Woolworths Holdings Limited acquired a controlling interest in the company. By 2000-01, Country Road had closed its American stores and started producing childrenswear.

History

The company was founded in 1974 by Stephen Bennett, initially as a shirt label.[2] It grew rapidly to become Australia's first lifestyle brand.[2] By 1980, the company was selling women's apparel and had product in department stores as well as in 10 Country Road stores.[3] Its growth during the '90s extended in both product range and location, operating over 100 stores at its peak.

It was relaunched in July 2004 as a company that has higher volume sales and lower product prices. In the years 2006–07, Country Road has reduced its prices by 25%, resulting in a 70% rise in sales volume. Prior to the re-launch, Country Road was a retailer with a premium price and a strong brand identity. Until February 2016, the creative director for Country Road was Sophie Holt (previously chief designer for women's fashion chain store Witchery). Its head office is located in Richmond, Victoria, the Australian flagship store is located nearby in South Yarra, Melbourne on Chapel Street.

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 recent as 2000 or later, which closed due to poor sales.

During 2009, Country Road created the brand Trenery, which currently has over 50 stores across Australia, New Zealand, South Africa and concessions in David Jones stores across Australia and New Zealand. In 2012, Country Road purchased Witchery Group, which include Witchery and Mimco for $172 million. The takeover created one of the biggest speciality apparel retailers in Australia, with 517 stores and $679 million in annual sales. In 2014, Country Road launched a line of activewear called Country Road Active, as well as launching a jewelry line around the same time. During 2015, Country Road launched its homewares range in most David Jones stores across Australia. In 2016, Country Road launched sunglasses for women and purchased leading Australian menswear brand Politix.

References

  1. ↑ http://www.delisted.com.au/company/country-road-limited ASX Delistment of CTY from market following Woolworths acquisition. Retrieved 9 June 2015.
  2. 1 2 "The Long Road Back". The Age. The Age. 2003. Retrieved 16 June 2011.
  3. ↑ "Australian Clothier Grows in U.S.". New York Times. The New York Times Company. 11 July 1989. Retrieved 10 October 2014.

Further reading

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