The fashion group behind brands like Katies, Rockmans and Noni B have revealed epic new expansion plans and the products buyers are going crazy for.
The fashion group behind well-known brands like Katies, Rockmans, Noni B and Rivers have revealed epic new expansion plans, going international online and racking up major additions to their product line.
Mosaic Brands chief executive Scott Evans gave investors an overview of the plans at the group’s recent annual general meeting and provided extensive details on Wednesday.
Shareholders have heard that Mosaic, which also has Millers, Autograph, W. Lane, Crossroads, Beme and EziBuy in its stable, will launch into the US market in the coming months, with Evans claiming it will be “a slow burn. “sowing the seed for years to come.
He told NCA NewsWire it would be “fully digital” with the UK also being targeted and Noni B and Rockmans now available to US buyers.
âCertainly in the calendar year 2022 they will all be there,â he revealed.
âIt’s big but it’s going to grow. We’re not going to take millions of dollars there on day one – it will be a two or three year build.
âWe’ll be in marketplaces, we’ll have our own websiteâ¦ we’re not opening stores there, certainly not.
âStarting from a standing start will be really tough and that’s why we’re not shouting from the rooftops about it.
âWhat we’re saying is that there is a market there, we have to figure out how to sell into that marketâ¦ we may have to acquire a local business and then use it through that. I don’t know the answer yet, but we have some great things to offer them.
âWe just have to find a way to reach them. “
Mosaic plans to double the number of categories sold to 60 over the next three years, offering products that customers are currently purchasing from others.
This strategy is already well underway, its brands selling household items are now going âcrazyâ.
Even the $ 1,500 outdoor dining sets were selling fast, Evans said.
âThe more we put in, the better we do,â he said.
âSo far this week we have sold 5,922 sheets.
“Last week we sold 10,000 hair straighteners.”
Air fryers in particular were going “completely nuts.”
âFour years ago we were selling tops and dresses, which we still sell and that’s our core business, but nearly 6,000 sheets in two days? It just does not make sense, âsaid Evans.
âHe’s just going to keep growing. Unlimited.”
Over the next three years, Mosaic plans to expand its store area up to 300 locations to accommodate the widest variety.
Its first new concept of Rivers mega store in Lismore, NSW is slated to open by March, offering top international brands like Nike, Tommy Hilfiger, Adidas, New Balance, ASICS, Puma and Levis – at low prices, of course. – through a Format of 1000 mÂ².
Rivers has been selling some of these brands since fiscal 2020 and they have been purchased by customers.
The group is broadly in the process of shifting to a department store strategy, saying “short rental terms” allow it to close stores where owners have “pre-Covid rental expectations”.
Mosaic Brands closed 242 stores in the previous fiscal year and 66 more in the first four months of 2021-2022.
Mr Evans says another 50 to 100 people could close their doors.
âIf you have a landlord who can see the future and understand what is happening online, those days are gone when rentals were X amount per square meter, if they look at what’s going on in the world of business. ‘today you can get an economic deal,’ he said.
âAnd the bigger the store, the better the performance.
âWe will increase the size of our stores when they are renewed. ”
And while continuing the boom in online shopping is clearly the group’s goal, it hopes to open its first EziBuy brick and mortar store around April.
âWe can transform a 600-700 square meter EziBuy store into a shopping center,â Evans said.
âAbout 15% of what you will see inside the store is what we offer, 85% will be exclusive to online salesâ¦ which is not normal for Australia. It will be a first.
âAlmost like showcasing the best of what we have, or an available selection of what we have and the rest is available through the online channel. “
While EziBuy bridges a 35 to 55-year-old market gap, other brands in the group are targeting those 50 and over – a cash-in and e-commerce-friendly age bracket overlooked by other fashion retailers and ” sort of invisible in many ways, âEvans said.
âThey are an unloved generation. Nobody wants to tackle the over-50s marketâ¦ everyone wants a new take on new youth fashion, âhe said.
âThis is the market opportunity that we are playing in. “