"This transaction sees us return to our roots as a focused household goods group. "We believe this will unlock new opportunities for all the people working within these brands," Greenlit Brands group chief executive, Michael Ford, said. Postie owner Greenlit Brands said the stable of general merchandise retail chain would join a group with a "strong track-record in building and enhancing businesses". That's one of the secrets to success right now - to be able to reduce those top-end costs." "This will potentially give them the that opportunity to realise economies of scale by leveraging some of the infrastructure that Hannah's and Number One Shoes have got, or equally the other way. "This will allow for greater focus on opportunities and specific focus on opportunities for the New Zealand market," he said. Wilkinson said there were "strong synergies" between Postie, Hannah's and Number One Shoes chains from both geographical and demographic perspectives, which could work in Allegro's favour. The move is said to allow Greenlit Brands to focus on its more profitable household goods businesses in Australasia - part of the parent company's strategy to downsize its portfolio following a $9 billion accounting scandal last year. Brian Gaynor: Postie Plus a lesson for retail shareholders.Our expert design team creates both staples and trending pieces for women sizes 16-22 with the perfect fit so you can create the wardrobe you’ve always wanted. Postie Plus appoints Linda Leonard as new CEO Plus Size Womens Clothes, Dresses & Coats Forever New CURVE Our Curve range offers plus-size clothing that is guaranteed to make you feel beautiful every time you wear it.Retail chain Postie returns to Whanganui in late September.Global retail company Steinhoff International's Australasian arm Greenlit Brands, which owns and operates Postie and Freedom Furniture, along with a handful of other retail chains in Australia and Asia that do not operate in New Zealand, has sold its general merchandise division, including the Postie business, to Allegro Funds, a private equity firm that specialises in company turnarounds. Photo / FileĬlothing chain Postie has been sold to the Australian private equity firm that owns footwear chains Hannah's and Number One Shoes. 1 Together with Australian retailer Best & Less, it forms the Best & Less Group. As of October 2022, Postie has 61 stores as well as an online platform. It was founded in 1909 by Thomas Dellaca. Retail chain Postie has been sold to Australian private equity firm Allegro Funds for an undisclosed sum. Postie, formerly Postie Plus, is a New Zealand clothing store chain.
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