Big move for beloved Aussie brands

Two of Australia’s most popular retail brands are set for a new future with their current owner announcing big growth plans.

Two of Australia’s most popular retail brands are set for a new future with their current owner announcing big growth plans.

Kids stationery chain Smiggle and sleepwear retailer Peter Alexander are currently owned by Premier Investments, a company listed on the Australian Securities Exchange (ASX) and 42 per cent owned by its chairman, retail billionaire Solomon Lew.

But from 2025, Smiggle and Peter Alexander are set to become stockmarket-listed companies in their own right, in a process known as a demerger, giving Aussies the chance to own a piece of these popular brands directly.

Peter Alexander will become its own stockmarket-listed company and launch in the UK. Picture: NCA NewsWire / Jono Searle

Announcing Premier Investments’ first half results for the 2023-24 financial year yesterday, Mr Lew revealed that Smiggle could list on the ASX by the end of January 2025, with Peter Alexander to list at a later point in 2025.

The news was announced after a strategic review of Premier Investments that began last year, which found significant growth opportunities for both Smiggle and Peter Alexander as stand-alone businesses.

“We’ve seen that potentially left to their own devices, they could even expand the business even further, which was in the interest of the business and the people that work in the business, and of course, if they’re successful, the shareholders,” Mr Lew said.

“In some instances they may be able to move a lot faster.”

As part of its growth, Peter Alexander will be launched in the UK, with its first two stores and a UK website to open before Christmas.

“There is nothing like Peter Alexander in the UK,” Mr Lew said.

The company has identified 10 sites in the UK for Peter Alexander stores in the future.

Smiggle will continue its expansion in the Middle East as a separate company. Picture: Keryn Stevens

Smiggle, which already has stores in five countries beyond Australia including New Zealand, the UK, Ireland, Singapore and Malaysia, has agreements with wholesale partners to open stand-alone stores in the United Arab Emirates, Qatar, Kuwait, Oman, Bahrain and Indonesia, that will lead to more than 160 stores in those markets in the next 10 years.

Last year MST Marquee analyst Craig Woolford​​​​ estimated that Peter Alexander was worth $1.7 billion and Smiggle was worth $936 million.

Premier Investments also owns clothing brands Just Jeans, Jay Jays, Portmans, Dotti and Jacqui E, as well as 29 per cent of department store chain Myer.

Originally published as Big move for beloved Aussie brands