Can a merger save Myer The Business ABC News

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A major fashion retail consolidation is looming in Australia, as Myer considers buying Solomon Lew's Premier Investment's clothing business. The merger involves brands Just Jeans, Jay Jays, Portmans, Jacqui E and Dotti. Retail analyst Geoff Dart says the deal makes sense for the 124-year-old department store chain, which has been struggling to appeal to younger shoppers and has nothing to lose from buying up the fast-fashion retailers. Myer has previously tried to get in front of younger shoppers with its purchase of Sass Bide, but recently revealed it would be closing 10 of the brand's standalone stores. The merger could see Solomon Lew return to the board of Myer. The retail tycoon was once the chairman until he was voted off by shareholders. His Premier Investment's owns almost a third of Myer's stock. • #ABCBusiness • Subscribe: http://ab.co/1svxLVE • Read more here: https://www.abc.net.au/news/2024-09-0... • ABC News provides around the clock coverage of news events as they break in Australia and abroad. It's news when you want it, from Australia's most trusted news organisation. • For more from ABC News, click here: https://ab.co/2kxYCZY • Watch more ABC News content ad-free on ABC iview: https://ab.co/2OB7Mk1 • Go deeper on our ABC News In-depth channel: https://ab.co/2lNeBn2 • Like ABC News on Facebook: / abcnews.au • Follow ABC News on Instagram: / abcnews_au • Follow ABC News on X (Twitter): / abcnews • Note: In most cases, our captions are auto-generated. • #ABCNews #ABCNewsAustralia

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