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.
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Diana Ferrari will discontinue her fashion line and close her stores.
As its owner seeks to adjust to the challenging retail environment, fashion label Diana Ferrari will close its brick and mortar boutiques around the nation, discontinue its garment line, and concentrate only on footwear.
The Munro Footwear Group (MFG), the company that owns Diana Ferrari, announced that it would continue to sell the 37-year-old brand’s footwear online, in its Williams and Mathers stores, as well as at David Jones and Myer.
In the upcoming months, MFG will shutter 14 Diana Ferrari boutiques and rebrand three more. In Victoria, there will be five clearance stores, and one in New South Wales.
When MFG acquired Fusion Retail Brands in June of last year, which also held the Colorado label, Diana Ferrari was added to the portfolio. Its roster of vertically integrated brands, which already included Styletread, Midas, Mollini, Wanted, and Django & Juliette, now includes this brand.
According to Jay Munro, chief executive of MFG, the company is abandoning the garment market and closing its Diana Ferrari locations so that it can “concentrate on its core business and mission of being Australia’s greatest footwear brand.”
He declared: “MFG is dedicated through this transformation to further improve the brand moving forward. Diana Ferrari is an iconic Australian footwear brand.”
Mr. Munro claimed that while Diana Ferrari’s clothing line and outlets had been “strong performers,” the company should now primarily concentrate on footwear given the current retail landscape.
He claimed that MFG’s network of 280 outlets would give new positions to all impacted retail employees.
According to accounts filed with the corporate regulator, MFG’s revenue increased by $20 million to $57 million in the 12 months leading up to July 2, 2017, thanks to its acquisitions.
On January 21, the Diana Ferrari locations in Woden, Canberra, Sydney’s Chatswood, Penrith, and Hornsby will all close. On January 28, the stores in Knox, Melbourne, and Miranda, Sydney, will shut down.
The announcement follows the administration of plus-size shop Maggie T last week and a spate of well-known failures over the previous 18 months, including Oroton, Marcs, David Lawrence, Herringbone, Rhodes & Beckett, Payless Shoes, and children’s clothing line Pumpkin Patch.
However, the publicly traded fashion company Noni B, which also owns Rockmans and beme, defied the trend on Tuesday by reporting 3% same-store sales increase for the six months ending on December 31.
Noni B stated that it anticipated underlying EBITDA for the first half of 2018 to be $22 million, up 53% from the first half of 2017 and nearly equal to its full-year underlying EBITDA of $22.9 million.
Diana Ferrari will shut down every store
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.”
Denver Group Limited
Colorado Group Limited is a publicly traded Australian corporation that runs several retail clothing franchises. Colorado Adventurewear, Mathers, Williams the Shoemen, JAG, Diana Ferrari, and Pairs are notable brands. The business has a headquarters in Brisbane, Queensland, and a branch in Cremorne, Victoria. The company was established more than 140 years ago in 1864 in Ballarat, Victoria, when Williams was founded. The business changed its name to Fusion Retail Brands in 2011.
Colorado now employs 3800 people and has 434 stores throughout Australia and New Zealand as of June 2011[update]. It owes 18 financiers almost $400 million in Australia.
After ARH Investments (Australia) Pty Limited issued compulsory acquisition notifications on July 3, 2007, Colorado Group Limited was delisted from the Australian Securities Exchange (ASX) on August 15, 2007.
On March 30, 2011, the Colorado clothes retail firm entered receivership.
Ferrier Hodgson, an expert in insolvency accounting, was given control of the team. The owner of Colorado was Affinity Equity Partners.
The apparel business “shut its doors” in June 2011, costing 1,042 jobs in the process. Australia will close 100 failing Colorado stores, including 21 Williams, 7 Mathers, 2 JAG, and 1 Diana Ferrari. 42 outlets will close in New South Wales, and 27 in Victoria. Additionally, 9 Colorado Stores will close in New Zealand.
Colorado will stop selling its clothing lines and go back to its roots as a shoe business. These shoes will be offered online and through Mathers and Williams the Shoemen locations run by the firm.
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.
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.
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.
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.