Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Bendon Buys Bennett And Bain


MEDIACOM-RELEASE-
BENDON-NEW-ZEALAND

BENDON BUYS BENNETT AND BAIN

Bendon announced today that it was buying eight nation-wide stores from the Bennett and Bain high-end lingerie retail network.

Bendon Managing Director Hugo Venter said the purchase was part of the plan to broaden Bendon's presence in the New Zealand market.

He said that although the company had announced its intention to stop manufacturing at its Te Rapa plant, the company's retail plans reinforced its commitment to New Zealand.

"New Zealand is the origin and inspiration of Bendon's designs.

"We are determined to build on the strength of our brands, and to protect our significant market share.

"The Bennett and Bain purchase enables us to match our diverse product range with an equally diverse range of retail outlets.

"With our established and successful retail partners, we now cater for a wide range of customers through the Bendon, Elle Macpherson, Hickory, Hey Sister! and Macpherson Men brands.

Mr Venter said Bendon was committed to providing quality lingerie in all sectors and price points of the market.

He said the acquisition would give Bendon a new showcase for their lingerie, and give customers more choice.

Bennett and Bain is in receivership. Bendon is purchasing eight of the twelve nationwide stores; Remuera, Pakuranga, St. Lukes, Takapuna, Manukau, Hamilton, Johnsonville and Riccarton. These stores employ 40 staff.

"We're pleased to have been able to maintain the proud tradition of Bennett and Bain, but we have also had to take a realistic approach by purchasing the stores that we are confident can trade profitably," Mr Venter said.

ENDS...

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Elsewhere:


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>