Country Road (retailer)
Country Road is a middle market clothing retailer with operations in Australia, New Zealand and South Africa. It is a subsidiary of Woolworths Holdings Limited. As of 2023 its brands include Country Road, Mimco, Trenery, Politix, and Witchery.
 | |
| Type | Private |
|---|---|
| Industry | Retail |
| Founded | 1974 |
| Headquarters | 572 Swan Street, Richmond, Victoria |
Key people | Elle Roseby, Managing Director |
| Products | Clothing, footwear, accessories, homewares, furniture |
| Revenue | $1.08 billion (2018-19) |
| Parent | Woolworths Holdings Limited (South Africa) |
| Website | countryroad |
History
Country Road was founded in 1974 by Stephen Bennett, initially as a niche women's shirting label. He took his inspiration for the name from the hit song Country Roads by John Denver.[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.
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.
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.[5][6]
Description
References
- "The Long Road Back". The Age. The Age. 2003. Retrieved 16 June 2011.
- Country Road swamped by applications Canberra Times 23 June 1987 page 16
- "Australian Clothier Grows in U.S." The New York Times. 11 July 1989. Retrieved 10 October 2014.
- Our History Country Road Group
- South African retailer Woolworths' offer to buy Solomon Lew out of Country Road raises questions ABC News 25 July 2014
- Solomon Lew accepts Country Road offer, ending 17 year battle Sydney Morning Herald 25 July 2014
- "Our Brands". Country Road Group. Retrieved 11 October 2022.
Further reading
- "Solly Lew asks Country Road if it's fair dinkum". The Sydney Morning Herald. 18 June 2004.
- "Getting back on track". NewsComAu. 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.
