Australian fashion chain eyes up NZ

By NZPA

Wednesday 30th May 2007

Another chain is set to try to get a slice of the New Zealand fashion retail market, with Australian household name Witchery to open 16 stores here by the end of next year.

Gresham Private Equity, which bought the chain in July last year from Solomon Lew for around $A130 million ($NZ146 million), expected to open the first of its New Zealand Witchery stores September, The New Zealand Herald reported today.

Iain Nairn, the Melbourne-based Witchery chief executive, said the company had been in talks with retail landlords and with top-end retailers such as Smith & Caughey about operating concessions in their stores.

Meanwhile, Gresham managing director Roy McKelvie said he was rankled by recent media speculation that the group was planning to sell or float Noel Leeming and Bond & Bond.

"There is no sale," McKelvie said.

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