Department store chain Myer is seeking to divest three of its best-known clothing brands and has hired KPMG Corporate Finance to run a sale process, Street Talk can reveal.
It is understood high-end fashion label Sass & Bide – on which Myer spent $42.3 million to purchase a two-thirds stake in 2011, in a move that caused rival David Jones to dump the label – is on the block, alongside Marcs and its sister brand, David Lawrence.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
