Woolies buys fashion chain
Woolworths is acquiring Australian men’s wear chain Politix for an undisclosed amount, it announced yesterday.
Politix has 75 stores across Australia, of which 31 are “concessions” – industry jargon for shops within larger shops – and reported sales of A$56-million (R585-million) in its last financial year.
Woolworths is buying the chain via its Australian subsidiary, Country Road Group.
“With a 40-year heritage, Politix is an iconic Australian men’s fashion brand with a distinctly modern and detailed DNA, which appeals to a broad base of fashion- conscious men aged 18 to 35,” Woolworths said.
Former Liverpool and Socceroo star Harry Kewell will continue to be the brand’s key ambassador, in a long-standing association that goes back to 2008.
Besides Country Road, Woolworths’ Australian stable includes David Jones, Witchery, Trenery and Mimco.