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    Trio of Retail Acquisitions

    Posted on: 4 Sep, 2015 |  Contact: Dean Katz
     

    Our client is Styling Services, a rapidly growing footwear group owned by the Munro family. Styling Services is a national wholesaler and retailer of fashion footwear, which owns and distributes popular shoe brands such as Mollini, Midas, Django & Juliette, I Love Billy and Gamins through more than 500 stockists in Australia. It also operates over 65 retail stores throughout Australia under the Midas and Cinori brands.

     

    We recently acted for Styling Services in a trio of retail acquisitions, including leading online footwear retailer Styletread, fashion forward retailer Wanted (which operates 17 stores in NSW) and the $20m retail chain Mountfords (based in Victoria).

     

    Our client's ambition with Styletread was to capitalise on an increasingly popular online footwear market at a time when local retailers are facing increasing pressures from competitive international forces. The latest Wanted and Mountfords acquisitions form part of the Group's long-term strategy to grow its national retail presence.

     

    We worked closely with the Munro family on the three deals and our technical work included the transfer of some 30 retail leases in Victoria and NSW, assignment of intellectual property rights and dealing with over 200 employees across the new businesses.

     

    Each transaction was time sensitive and involved due diligence on the businesses and assets, drafting and negotiating business sale agreements and other transaction documents and advice on employee, intellectual property, tax, property and other transition matters.

     

    The transaction was led by Dean Katz, partner in our Corporate & Commercial group with assistance from senior associate Ali Khanbashi (Commercial Property), consultant Tracey O'Neill (Employment & Industrial Relations) and lawyer Remziye Hussein (Corporate & Commercial).

     

    Our experienced team, drawn from a number of specialities, were able to add value and deliver commercial and timely results, while realising our client's objective to 'stay ahead of the pack' within the footwear industry.


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