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Crane Limited Purchase Of Gubb & Mackie License

CRANE LIMITED CAPITALISES ON RECENT GROWTH WITH PURCHASE OF GUBB & MACKIE LICENSE

Hot on the heels of being named the tenth fastest growing company in the 2003 Deloitte/Unlimited Fast 50 Auckland based retailer Crane Limited has purchased the license for Gubb & Mackie.

Crane Limited founder Murray Crane, who operates four Auckland based men's clothing outlets including Crane Brothers and Little Brother, says picking up the license for the naval inspired clothing range Gubb & Mackie fits in perfectly with Crane Limited's growth plan.

"Johnny (Duder - owner of the Gubb & Mackie label) has invested considerable time and money into building a superb brand with a heritage rich in naval tailoring traditions. The brand is an excellent fit with the Crane Limited range and the timing couldn't be better."

Murray says taking the number 10 slot in this year's Deloitte/Unlimited Fast 50 for 406.1% growth in 2002/3 has been a great boost to the company and adds he's looking to maximise the expansion with the acquisition of the Gubb & Mackie label.

Murray envisages the Gubb & Mackie brand will dovetail neatly into the existing Crane Brothers product range, which includes Karen Walker Menswear and Jonathon Hall, as it reflects his appreciation of tailoring's lost art and catering for the individual.

"I feel quite strongly about New Zealand menswear and the way it's become overly focused on mass and moving stock. I've built my business with service and quality as the fundamental tenets, my staff and my products are the two areas where I've concentrated my energy over the past three years and now it's really achieving results."

Murray's uncanny business acumen has been honed over what he says has been, "2 bloody hard years on the back of 15 tough ones". Facing financial ruin in 2001 when his flagship store Crane Brothers was destroyed by fire he has fought back and says that the lessons learnt from the challenges that were presented will last him a lifetime.

Referred to by influential Fashion Editor Jen Ford (Wallpaper, City Magazine) as one of ten fashion designers to watch globally Murray has successfully mixed design with commerce but has no desire to be known as a fashion designer.

The first Gubb & Mackie garments produced by Crane Limited will appear in Crane Brothers High St flagship store in time for Winter 2004.

ends

About Crane Limited

Crane Limited operates four Auckland stores including Crane Brothers and Little Brother. Crane Brothers first opened its doors in October 2001 on Auckland's High St situated on the ground floor of the old De Brett's hotel. The brainchild of menswear veteran Murray Crane Brothers specialises in off-the-rack and bespoke clothing for discerning male shoppers. Favouring an English aesthetic Crane Brothers signature style is "body conscious without being too tight". Crane Brothers offers a comprehensive range of men's services including; made-to-measure, custom made and bespoke tailoring; by appointment wardrobe consultancy; valet service; accounts and finance and complimentary parking. The Crane Brothers menswear range is available exclusively through the High St store along side menswear from labels such as Karen Walker.

About the Deloitte/Unlimited Fast 50

The Deloitte/Unlimited Fast 50 is an index of New Zealand's fastest growing companies based on percentage revenue growth. This is an index benchmark for growth and it is open to all companies that meet the following criteria:
* Have operating revenues of at least $100,000 in 2000/2001 and at least $250,000 in 2002/03
* Have been in business for a minimum of three years
* Have New Zealand registered operations


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