The independent expert engaged to assess Myer’s proposed takeover of a portfolio of brands owned by Solomon Lew’s Premier Investments says the emergence of Chinese fast-fashion players has hurt the outlook for department stores and made it essential for the company to expand.

The 124-year-old department store has proposed its most radical transformation and wants to acquire Premier’s Apparel Brands business, which includes casual wear chain Just Jeans, women’s fashion retailers Jacqui E, Dotti and Portmans, along with Jay Jays.