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Sep 5, 2024 | 
insideretail.com.au | Celene Ignacio |Rakshnna Pattabiraman |Anil Prabha |Shasha Wang
Thrift retailer Savers has opened a boutique thrift store on Oxford Street, Darlinghust in Sydney – the first of its kind in Australia. The thrift store opening comes three months after Savers expanded into the suburb of Hoxton Park Prestons. “We’re excited to introduce Sydney shoppers to our first-ever Australian boutique store, a unique concept that takes our Thrift Proud movement to the next level,” said Michael Fisher, Savers Australia MD.
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Aug 29, 2024 | 
insideretail.co.nz | Jacob Gronholt-Pedersen |Miral Fahmy |Kaycee Enerva |Rakshnna Pattabiraman
Toymaker Lego says it is on track to replace the fossil fuels used in making its signature bricks with more expensive renewable and recycled plastic by 2032 after signing deals with producers to secure long-term supply. Lego, which sells billions of plastic bricks annually, has tested over 600 different materials to develop a new material that would completely replace its oil-based brick by 2030, but with limited success.
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Aug 27, 2024 | 
insideretail.com.au | Jacob Gronholt-Pedersen |Miral Fahmy |Sean Cao |Rakshnna Pattabiraman
Toymaker Lego said on Wednesday it was on track to replace the fossil fuels used in making its signature bricks with more expensive renewable and recycled plastic by 2032 after signing deals with producers to secure long-term supply. Lego, which sells billions of plastic bricks annually, has tested over 600 different materials to develop a new material that would completely replace its oil-based brick by 2030, but with limited success.
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Aug 23, 2024 | 
insideretail.com.au | Helen Reid |Jan Harvey |Rakshnna Pattabiraman |Fleur Heazlewood
Fast fashion retailer Shein found two cases of child labour at its suppliers last year, it said in its 2023 sustainability report, as it stepped up audits of manufacturers in China to assuage criticisms of its low-cost business model ahead of a planned flotation.
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Aug 23, 2024 | 
insideretail.com.au | Rakshnna Pattabiraman |Fleur Heazlewood
The Environmental Protection Agency Victoria has fined McDonalds, Hungry Jacks and KFC for waste pollution at some Melbourne outlets. Staff in all three fast food chains allowed cooking oil and waste liquids to escape to storm drains rather than disposing of the waste in collection tanks. A photograph of a KFC staff member showed them with a container with the open tap spilling the contents out the shop back door and into the drain.
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Aug 22, 2024 | 
insideretail.com.au | Celene Ignacio |Rakshnna Pattabiraman |Sean Cao |Fleur Heazlewood
Footwear retailer Accent Group‘s net profit plunged amid higher sales in the last fiscal year. The company saw net profit dip 32.9 per cent to $59.5 million despite sales increasing 2.7 per cent to $1.61 billion. However, like-for-like retail sales fell to 1.7 per cent. Accent Group ended the fiscal year with 895 stores including websites after opening 93 new stores and closing 19, where the company could not achieve return on investment.
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Aug 22, 2024 | 
insideretail.com.au | Celene Ignacio |Rakshnna Pattabiraman |Sean Cao |Fleur Heazlewood
Munro Footwear Group has bought specialty retailer The Trybe from The Accent Group, marking its 10th acquisition in 10 years. The Trybe has 16 stores and offers kids’ shoes from global brands such as Nike and Asics, as well as other popular on-trend and utility brands.
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Aug 12, 2024 | 
insideretail.com.au | Robert Stockdill |Rakshnna Pattabiraman |Anil Prabha |Aron Lewin
Ikea has signed a three-year contract with Australia Post to manage the delivery of small and medium parcels, representing about 65 per cent of the furniture and homewares retailers’ online sales. This financial year, Ikea has fulfilled more than 500,000 parcel orders online, shipped from its 10 stores in six states and territories across the country.
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Aug 7, 2024 | 
insideretail.com.au | Lewis Jackson |Clarence Fernandez |Christopher Cushing |Rakshnna Pattabiraman
An Australian man is set to appear in court on Wednesday after being arrested for the alleged theft of more than $600,000 worth of commemorative coins linked to the popular children’s television show “Bluey”, police said. The 47-year-old is accused of stealing 64,000 unreleased, limited-edition $1 coins from a warehouse in the Sydney suburb of Wetherill Park in June, according to “Strike Force Bandit”, a special unit police set up to investigate the theft.
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Jul 17, 2024 | 
insideretail.com.au | Kaycee Enerva |Rakshnna Pattabiraman |Anil Prabha |Robert Stockdill
European eyewear giant EssilorLuxottica has purchased the streetwear brand Supreme from VF Corporation (VFC) for US$1.5 billion (A$2.2 billion). Originally acquired by the company for $2.1 billion in 2020, according to The Business of Fashion VFC will offload Supreme at a significant discount due to declining sales and interest in streetwear. The brand generated revenues of $523.1 million last year, down from $561.5 million in 2022.
