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More related stories. Myer chief merchandise and customer officer Daniel Bracken says Marcs and David Lawrence are two of Myer's top ten clothing brands.
It buys us time to find out what is the future of these brands in Myer. While the deal does not include Marcs and David Lawrence stores or leases, it is possible that Myer will operate a handful of stores to maintain the profile of the specialty brands.
The purchase price for the inventory, brand names and other intellectual property was not disclosed, but is understood to be not sufficiently material to require Myer to disclose to the stock exchange. The acquisition may be seen by investors and analysts as defensive, as it comes just two weeks after veteran retailer Solomon Lew, through his listed investment vehicle Premier Investments, snapped up a The brand acquisitions are the first under Myer's 'new' management team led by chief executive Richard Umbers and Mr Bracken.
It's understood Myer made a play for the brands earlier this month after a suitable white knight failed to emerge. Myer has acquired popular fashion brands Marcs and David Lawrence, which collapsed in February. Myer sells both brands in its stores, and chief merchandise and customer officer Daniel Bracken said they were two of the most productive and sought-after brands on the shop floor.
However Myer's rescue bid for the two labels is unlikely to save all pf their staff, with the department store signalling it had not made any decision yet over the future of the Marcs and David Lawrence free-standing stores and "arrangements with other retailers. Myer said the acquisition bought it time to "find out what is the future of these brands in Myer.
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