Business
Woolworths buys iconic Aussie menswear brand, Politix─── 09:16 Wed, 05 Oct 2016
Cape Town - Woolworths Holdings said on Wednesday that its subsidiary, Country Road Group, had agreed to buy Politix, a leading Australian menswear business.
Woolworths said in a statement that Politix, a market-leading retailer of designer menswear with 75 outlets across Australia, recorded sales of A$56 million for 2016.
Former Liverpool Football Club and Socceroo star, Harry Kewell, is the brand’s key ambassador in an association that stems back to 2008.
“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.
The company said the acquisition was in line with its Southern Hemisphere strategy of building a strong and diversified portfolio of iconic brands.
Politix will add to Woolworths’ existing Australian stable that includes David Jones, Country Road, Witchery, Trenery and Mimco.
ANA
