Steven Lew expands Global Retail Brands with | Australian Markets
Steven Lew — son of billionaire retail mogul Solomon Lew — has bolstered his Global Retail Brands by buying Melbourne-based homewares and kitchenware business Salt&Pepper.
Global Retail Brands is one of the nation’s largest homeware retailers, using 3000 people throughout 259 shops trading beneath the HOUSE, HOUSE Bed & Bath, Robins Kitchen and My House manufacturers.
The group on Friday introduced it had entered into a sale settlement to amass Salt&Pepper’s retail, online and wholesale operations, with the deal anticipated to be accomplished early subsequent week.
As half of the sale, GRB will operate 25 Salt&Pepper shops and retain its 220 workforce members. Salt&Pepper’s community embrace 12 in Victoria, three every in NSW and WA and 4 in Queensland.
GRB has plans to broaden the store footprint to 65 over the subsequent 12 months. The growth shall be supported by a 50,000sqm distribution centre in Truganina, Victoria, which GRB invested $100 million to develop in 2021.
The group stated the acquisition aligned with its strategy to consolidate its place as Australia’s largest unbiased homewares retailer.
Steven Lew — GRB chair and chief govt — stated since 2020, it had invested in 4 business, Bessemer, MyHouse, Lorraine Lea Linen and now Salt&Pepper.
“We are proud to continue our investment in great local retail brands that we can grow in partnership in partnership with our strong store and customer service teams,” he stated.
“Salt&Pepper perfectly complements our existing portfolio and strengthens our mission to bring beautiful, functional and elegant homewares into Australian homes.
“Under GRB’s ownership, we will invest further in the brand to support its growth and continue to delight our customers.”
GRB additionally has 300 concession shops in offshore markets, together with South Africa, Denmark, Canada and the US working beneath The Custom Chef model.
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