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Country Road Group

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This article is about the Australian/New Zealand clothing retailer. For the song by James Taylor, see Country Road (song). For the logic puzzle, see Country Road (puzzle). For the band, see Country Road (band).

Country Road
Company typePrivate
IndustryRetail
Founded1974
HeadquartersMelbourne, Australia
Key people
Elle Roseby, Managing Director
ProductsClothing, footwear, accessories, homewares, furniture
Revenue$1.08 billion (2018/19)
ParentWoolworths Holdings Limited
Websitewww.countryroad.com.au

Country Road is a middle market clothing retailer with operations in Australia, New Zealand and South Africa. It is a subsidiary pf Woolworths Holdings Limited.

History

Country Road was founded in 1974 by Stephen Bennett, initially as a niche women's shirting label. He took his inspiration for the name from the hit song Country Roads by John Denver.[1] It grew rapidly to become Australia's first lifestyle brand.[1] In 1981, Myer purchased Country Road, before listing it on the Australian Securities Exchange in 1987.[2] In 1988, it expanded into homewares and the American market. By 1980 it was selling women's apparel and had product in department stores as well as in ten Country Road stores.[3] In 1984, Country Road began producing menswear, then in 1986, it began producing accessories. Its growth during the 1990s extended in both product range and location, operating over 100 stores at its peak.[4]

In 1998, Woolworths Holdings Limited acquired a controlling interest in the company.[4] It was relaunched in July 2004 as a company that has higher volume sales and lower product prices. Its head office is located in Richmond, Victoria, the Australian flagship store is located nearby on Chapel Street in South Yarra.[5]

Beginning 2003, Country Road entered into an exclusive agreement with Myer department stores. Under this agreement, Country Road agreed to sell exclusively to Myer and not to its main rival, David Jones. It also included joint marketing and in-store visual merchandising. This arrangement ended in January 2007 when Country Road became a concession store in David Jones and Myer stores. There were also stores in Boston, Chicago, New York City and other cities in the United States, as recent as 2000 or later, which closed due to weak sales.

In 2012, Country Road purchased Witchery Group, which include Witchery and Mimco. Having built up an 88% shareholding in the company, Woolworths Holdings Limited took full ownership in July 2014 when it purchased Solomon Lew's shareholding.[6][7]

References

  1. ^ a b "The Long Road Back". The Age. The Age. 2003. Retrieved 16 June 2011.
  2. ^ Country Road swamped by applications Canberra Times 23 June 1987 page 16
  3. ^ "Australian Clothier Grows in U.S." The New York Times. The New York Times Company. 11 July 1989. Retrieved 10 October 2014.
  4. ^ a b Our History Country Road Group
  5. ^ Country Road Flagship Store Metier 3
  6. ^ South African retailer Woolworths' offer to buy Solomon Lew out of Country Road raises questions ABC News 25 July 2014
  7. ^ Solomon Lew accepts Country Road offer, ending 17 year battle Sydney Morning Herald 25 July 2014

Further reading

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