Selling to affluent, 40-plus women has largely shielded fashion retailer Philosophy Australia from cost-of-living spending cutbacks for most of its 20-year history, founder Alison Lennard says.
“Historically, [our customer] has not been one who’s ever felt the economy. She’s got her house paid off and has got her spending money.”
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Michelle Bowes writes about personal finance from our Sydney newsroom. She has been a business journalist for 25 years and is the author of Money Queens: Rule your Money, an award-winning personal finance book for teenage girls. Email Michelle at michelle.bowes@afr.com
