Bras N Things
 | |
 Bras N Things store in Westfield Carousel | |
| Company type | Subsidiary |
|---|---|
| Industry | Retail |
| Predecessor | The Bra Shop |
| Parent | Hanes Australasia |
| Website | brasnthings |
Bras N Things is a lingerie retailer. It is owned by Hanes Australasia and operates in Australia, New Zealand, South Africa and the United States.
History
[edit]In 1986, Blundy sold his 60% stake in the Jetts music store chain to his former partner for $600,000. This left Blundy to pursue an idea he had three months before the Jetts sell-off, after he noticed one of his "fashionable" female store managers kept wearing a broken bra, held together with a safety pin. Knowing that most lingerie at that time were beige in colour with unflattering cuts, he wanted to sell underwear in various cuts and colours, alongside G-strings that were unheard of for casual wear. Three months later, he took out his first franchise in The Bra Shop chain at Chirnside Park Shopping Centre, mainly selling brand name product, but gradually sourcing different lines independently of the franchise (his first run of 15 G-strings sold out in one day). Bryan Luca, the franchisor of The Bra Shop, entered into an agreement with Blundy to buy his three Victorian stores in exchange for Luca's four underperforming Bras N Things outlets in New South Wales and a guarantee to not trade in Victoria. Brazin Limited officially commenced operation after Blundy expanded Bras 'N' Things into South Australia and then Queensland.[1][2][3]
In 1990, with Bras 'N' Things expanded to 60 stores around the country, Luca started to progressively sell his remaining Victorian Bra Shop outlets to Blundy in groups of six at a time with all eventually being sold and renamed to Bras 'N' Things.[1][2][3]
In May 1999, Brazin created Viva Lingerie, targeting a different demographic to Bras 'N' Things – the former, focused on young, price-conscious women.[4][5] Also in that year, Brazin acquired another 9 lingerie retail stores from Triumph International.[3]
By the end of 2008, BBRC sold its controlling interest in Bras 'N' Things to ANZ and IMF Investors.[6][7][8]
In November 2013, Blundy and Sanity owner Ray Itaoui each bought 50 per cent stakes in Bras N Things from ANZ and IMF Investors. Announcing the deal, Blundy said to the media, "Today, more than ever, I believe in Bras 'N' Things and our business model. I believe in our customer and I believe in our people." Asked about Itaoui, he added, "Ray has done a remarkable job with Sanity. We have always worked well together and I'm excited about our next venture taking Bras 'N' Things to the next level."[6][7][8]
In March 2016, Bras N Things expanded to South Africa, opening a store in Johannesburg.[9]
In February 2018, Bras N Things was sold to Hanes Australasia for an estimated A$500 Million.[10]
References
[edit]- ^ a b Kelly, Brett (2012). "Brett Blundy". Business Owners' Wisdom: Great Business Owners Share Their Stories. Clown Publishing. ISBN 978-0-980776-53-9.
- ^ a b Schmidt, Lucinda (30 January 2013). "Meet Brett Blundy, Flogger of Lingerie, Jewelry, Adventure and Pies". Forbes. Retrieved 1 March 2013.
- ^ a b c "Brazin Limited: Independent Expert's Report (1 December 2006)". Deloitte. Archived from the original (PDF) on 22 September 2021. Retrieved 22 September 2012.
- ^ "Brazin Limited (7 May 1999)". Intelligent Investor. Archived from the original on 5 August 2008. Retrieved 23 May 2012.
- ^ "Brazin outperforms, but is it under-priced? (27 August 1999)". Intelligent Investor. Archived from the original on 5 August 2008. Retrieved 23 May 2012.
- ^ a b Heathcote, Andrew (6 November 2013). "Brett Blundy goes overweight on underwear and buys other half of Bras N Things". BRW. Archived from the original on 2 April 2015. Retrieved 29 March 2015.
- ^ a b Redrup, Yolanda (6 November 2013). "Bras N Things and BrightEyes Sunglasses bought back by previous owners". Smart Company. Archived from the original on 2 April 2015. Retrieved 29 March 2015.
- ^ a b "Blundy buys back Bras N Things (5 November 2013)". Inside Retail. Archived from the original on 2 April 2015. Retrieved 29 March 2015.
- ^ "Bras N Things expands to South Africa". Inside Retail Australia. 2016-03-08. Retrieved 2023-09-13.
- ^ "Bras N Things sold to Hanes Australasia for $500 million". 9Finance. 2018-02-09. Retrieved 2022-05-28.
