Australia’s fashion conscious consumers don’t want to wait an entire season to access new designs, a trend exploited by global brands like Zara and H&M that threatens homegrown fashion houses.
QUT retail expert Associate Professor Gary Mortimer said consumers see real value in global brands offering similar styles to David Lawrence and Marcs, the latest clothing labels to go into administration.
“The voluntary administration of these brands indicates the tough times fashion retailers are facing in Australia,” Professor Mortimer said.
“The combination of fickle consumers and the entry and growth of global fast fashion appears to be behind another potential collapse of an Australian retailer.
“We see a growing demand for faster delivery of new styles, something the global fast fashion firms are able to do.
“Zara and H&M have mastered the art of the quick response to emerging preferences. If something is selling well they can put more of that style in stores around the world within six weeks.
“This is rapidly replacing the traditional system of buying a year ahead and being unable to respond to market tastes quickly.”
Professor Mortimer said Solomon Lew’s Premier Investments Group, owner of middle-tier brands like Portmans, Country Road and Trenery, could be a possible buyer.
“Alternatively, this may fall into the hands of South African retailers like Woolworths, current owners of David Jones.”
Media contact: Niki Widdowson, QUT Media, 07 3138 2999 or n.widdowson@qut.edu.au.
After hours: Rose Trapnell, 0407 585 901 or media @qut.edu.au.
