Myer would purchase Just Jeans, Jay Jays and a number of other well-known brands owned by Premier Investments under a proposal from the department store that would mark the biggest shake-up of billionaire businessman Solomon Lew’s retail empire in nearly two decades.

The proposal is part of a broader strategic review conducted by Myer’s new executive chair, Olivia Wirth. Under the plan, the department store would acquire Premier’s Apparel Brands division – which also owns the Portmans, Jacqui E, and Dotti brands – in exchange for new shares.