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Australia's Fusion Brands to focus on retailing basics

13
Apr '12
Australia's apparel retailer Fusion Retail Brands would revisit its retailing basics under its new leader Don Grover.

Mr. Grover has been appointed as the new Chief Executive of the firm that emerged from Colorado Retail Group that collapsed in March last year after incurring debts of over Au$ 430 million.

Stating retailing to be a lucrative business, Mr. Grover said that not only it is scalable but it also has immense growth potential.

In spite of the consumer sentiment being weak at the moment, Fusion Retail Brands would win back the customers, he said.

Upon assuming charge late this month, Mr. Grover would first undertake a strategic review of the Fusion's brands – Diana Ferrari and Jag. He would also spend some time understanding who the core consumers of the brand are.

Tagging retailing as a consumer-centric business, he said there is no scope for retailers to overlook their customers. They need to provide exceptionally good services, failing which the customers may simply turn their backs to those brands.

According to Mr. Grover, retailers who are struggling for existence today are those who failed to tune themselves with changing consumer preferences.

He said the retailers who restrained themselves from sparing enough time and money to serve their customers are now paying the price for their reluctance.

Fusion Retail Brands, established in September last year, is owned by secured creditors Nomura, Rabobank, National Australian Bank and US private equity conglomerates Ice Canyon and Anchorage Capital Partners, who together hold a 75 percent stake.

Fusion currently operates 282 outlets spread across Australia.

Fibre2fashion News Desk - India


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