Diana Ferrari, a company that sells shoes, clothes, and accessories, has announced that it is closing all of its physical locations but will continue to operate online.
The business informed its clients in a statement that “all Diana Ferrari stores will be closed over the coming months, however our exquisite footwear will continue to be accessible through our online stores, Mathers, Williams, wholesale stockists and major department stores.”
We really value and thank each and every one of our devoted clothing consumers over the past 17 years.
On January 21, the stores in Woden, Chatswood, Penrith, and Hornsby will close. Miranda and Knox will follow the following week.
Munro Footwear Group (MFG) purchased Fusion Retail Brands in June of last year. Fusion Retail Brands had previously owned Colorado, Diana Ferrari, and other shoe retailers.
With Maggie T going into administration and Diana Ferrari announcing it will be closing all of its physical stores in the coming months, 2018 is off to a rocky start after a number of high-profile brands collapsed last year. This, according to Andrew Spring, partner at insolvency firm Jirsch Sutherland, paints a gloomy picture for Australian retailers.
According to him, “this news demonstrates that well-known businesses are caving in to the growing pressure faced by conventional bricks and mortar operations.”
“Aussie merchants are facing more competition than ever before as the online retail sector grows and old regional entrance barriers are eliminated. And this year, those merchants who did not modernize by investing in their e-commerce systems will still suffer because they can no longer afford to operate a brick and mortar store.
“Additionally, it is particularly challenging for merchants who are stuck into contracts with landlords and employees. Inadequate record keeping and outmoded stock issues are two more major factors.
“We forecast that the worst of the retail woes hasn’t yet happened and that 2018 will regrettably witness many more domestic firms go bankrupt.”
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Stores for Diana Ferrari will close as Munro Footwear attempts to “strengthen” the brand.
Diana Ferrari, a company that sells shoes for women, has informed consumers that it would shut down all of its physical locations and discontinue its clothing line.
The 37-year-old company announced all 17 of its freestanding stores would close in the coming months, with some being rebranded, in an email to customers on Monday. Future sales of the brand’s footwear will take place in major department shops, an online site, and through Williams and Mathers as a distributor.
Six Diana Ferrari locations will close by the end of January, the business informed customers, with shops in Woden, Chatswood, Penrith, Hornsby, Miranda, and Knox shuttering their doors by January 28. It declared that the brand’s Santorini apparel line’s spring/summer season would be its final.
Just six months prior, the Munro Footwear Group (MFG) finalized its acquisition of Fusion Retail Brands, the company that owns the Colorado and Diana Ferrari brands, and completed the transaction at the end of June 2017.
Iconic Australian shoe shop Diana Ferrari has announced that its 23 locations would permanently close in the coming months.
Diana Ferrari, an Australian footwear business, has announced it will close its doors in the near future, making it the latest establishment to succumb to the nation’s retail crisis.
Beginning on January 21, the legendary brand, which is a member of the Munro Footwear Group (MFG), will close all 23 stores and 11 clearance locations.
The brand will keep its online store, where 30% of its current sales are being made.
Diana Ferrari, which was established in 1979, opened its first location in 2000 and expressed pride in the 17 years they have spent serving their clients.
Diana Ferrari, an Australian footwear business, has announced it will close its doors in the near future, becoming the latest establishment to succumb to the nation’s retail crisis.
The brand will keep its online store, which is now experiencing 30% sales.
According to a company statement, “All Diana Ferrari locations will be closed over the upcoming months, however our great footwear will still be accessible through our online stores, Mathers, Williams, wholesale retailers, and major department stores.”
We really value and thank each and every one of our devoted clothing consumers over the past 17 years.
According to the Sydney Morning Herald, employees who now work at Diana Ferrari stores will be transferred to other businesses owned by the MFG group.
Diana Ferrari is she an Australian?
Diana Ferrari is a well-known Australian company that produces stylish, on-trend footwear for women that is built to be comfortable and timeless. – Today, look online for your next favorite pair of shoes.
Who is now in charge of Ziera shoes?
The Munro Footwear Group, an Australian family-owned company, is currently responsible for Ziera. They represent numerous well-known brands that are focused on comfort, lifestyle, and design, including Diana Ferrari, Supersoft, Mathers, Midas, Mountfords, Mollini, Cinori, and Django & Juliette.
Are Ziera shoes being sold off?
Ziera, a footwear chain, entered voluntary administration after the company was forced to do so due to rising rent and manufacturing expenses as well as declining sales, and insolvency professionals from McGrathNicol are now scrambling to find buyers.
Ziera, formerly known as Kumfs and founded in 1946 by two podiatrists, David Robertson and Mervyn Adams, operated roughly 23 outlets in Australia and 22 in New Zealand and employed about 250 people.
The family-run business sold shoes through its own retail locations as well as to independent shoe merchants all around the world, including those in the US, Australia, and Singapore.
Ziera recently shut down a number of its Australian retail locations in order to concentrate on expanding its nascent e-commerce operation. However, it seems to have run out of money.
Tuesday saw the appointment of Shaun Fraser and Katherine Sozou as voluntary administrators in Australia. Ziera’s New Zealand activities were taken over by Conor McElhinney and Andrew Grenfell.
According to McGrathNicol, “the appointment comes after several difficult financial years for Ziera, brought on by the fast shifting retail environment, shifting consumer habits, and significant changes in their supplier chain.”
According to the statement, “independent shoe stores have been disappearing globally as bigger rivals and internet sales gain greater market share, restricting Ziera’s wholesale market.”
While the administrators search for new buyers, the majority of stores will continue to operate. Unprofitable outlets, however, are probably going to close after the administrators have finished their initial review.
The alternative, according to McGrath Nicol, is to trade the company until its assets can be realized. It also noted that there were ‘limited finances available’ at the time of its appointment.
Ziera’s failure comes after the closure of almost a dozen stores this year, including the fashion chain Karen Millen, the cosmetics brand Napoleon Perdis, the menswear outlets Ed Harry and Roger David, the online shoe retailer Shoes of Prey, and Beds R Us.
Despite recent tax cuts that are anticipated to have increased household disposable incomes by roughly $16 billion and record-low loan rates, many merchants claim that consumers are still hesitant to relax their spending restrictions.
What’s going on with Ziera shoes?
It was somewhat reminiscent of going through the charred remains of a family-run business in its last hours, though.
I felt a stab of guilt as I sat in the Wellington store holding a pair of mary-jane shoes in my hands, a pair of black sneakers in my hand, and a pair of brown leather boots on my feet.
I was going to gain from someone else’s bad luck. Just after Christmas, the staff members started losing their jobs. An establishment that has sold shoes for more than 70 years was shutting.
I wasn’t alone in this. I feel horrible, remarked the client who sat down on the bench next to me and asked the salesperson for shoes in her size.
Conor McElhinney, partner at McGrathNicol New Zealand, said at the time that Ziera had experienced a number of difficult trading years as a result of the quickly shifting retail landscape, shifting consumer habits, and significant changes in its supplier chain.
“Despite having a strong consumer base, the business has recently suffered from the shifting retail environment. Independent shoe stores throughout the world have been going out of business as bigger rivals and internet sales have taken over greater market share “said McElhinney.
Additionally, McElhinney claimed that the business was bound by expensive leases at a time when in-store sales started to decline considerably and had been too late to establish an internet presence.
The business also had to contend with a prevalent reputation as the source for orthopedic-style shoes. I think I even heard a family member call them “grandma’s shoes.”
Although I believe it is perhaps a little unjust, I am not the ideal person to judge as I am a nearly middle-aged woman with awful feet.
It would be accurate to claim that Ziera, formerly known as Kumfs, had not sparked interest in younger female generations.
People who adored the shoes were probably of an age where spending $200–$300 on shoes was a luxury rather than an everyday expense.
The administrators revealed in December that Munro Footwear in Australia had purchased Ziera.
I left Wellington’s Ziera with my discounted boots and a $189 discount (I returned the other shoes). Both relieved at the savings and little sad. In terms of New Zealand shoes, Ziera’s closing marks the end of an era.
Do Ziera shoes assist the arch?
ADVANCED FOOTBALL TECHNOLOGIES The cushioning and arch support of Ziera’s underfoot comfort technologies are unmatched and enclose the entire foot. They are meant to be so opulently comfy that they can be worn continuously.
Where did Kumf’s shoes go?
Last year, as part of the voluntary administration process, Ziera outlets in New Zealand and Australia closed. Image credit: Newmarket Business Association
After the brand’s intellectual property was sold for $800,000, Ziera Shoes, formerly known as Kumfs, was put into liquidation.
Following a decision by creditors to have all four of the group’s firms liquidated, Kumfs Group, which owes creditors a total of $30 million, was put into liquidation on February 11.
In September of last year, the company was put into voluntary administration alongside the Australian company Ziera Retail.
The liquidators are Conor McElhinney and Andrew Grenfell of McGrath Nicol.
Who has very soft shoes?
Supersoft By Diana Ferrari clothing is made to keep up with the pace of daily life. These styles will make sure your feet can keep up with you thanks to their style, comfort, and support. Every pair of Supersoft shoes has a broader “C” fitting.
What is Ziera’s XF stand for?
OVERLY GENTLEAdd the blue XF or grey FF (thinner) forefoot insert to tighten the shoe. Add the pink XF or green FF (thicker) forefoot insert to make it even more tight. STILL TOO GENTLE If necessary, you can utilize both inserts.
What was the previous name for Ziera shoes?
After the 73-year-old company entered voluntary administration, a historic New Zealand shoe brand might soon disappear.
David Robertson and Mervyn Adams established Ziera, formerly known as Kumfs, in New Zealand in 1946.
The women’s footwear company employs roughly 140 people across 22 locations in New Zealand and about 110 people across 23 stores in Australia, including part-time retail staff.
Products from Ziera have been sold all over the world, notably in Singapore, Canada, and the US.
In a press release, administrators McGrathNicol noted that the market scenario had recently become increasingly difficult.
Sales into that market were further hampered by the US imposing a 25% tax on shoes in the midst of its trade spat with China.
Ziera took a while to introduce an online service; the website didn’t go live until December 2016.
Despite an annual growth rate of over 50% in the online stores for New Zealand and Australia, Ziera’s brick-and-mortar stores have seen declining sales, which has made it unprofitable for the company to operate.
Administrator Conor McElhinney said, “The company changed its branding from Kumfs to Ziera to appeal to a wider consumer base, but the message regarding Ziera’s technology did not reach through.
“In our opinion, the technology has genuine value, and we want to find another shoe retailer to take on the Ziera banner and continue to provide its devoted customer base, while delivering the message of comfortable design to all women.”