AusBN - Products from the quintessentially British brand John Lewis (LSE:JLH) are now available in Myer’s Perth store (ASX:MYR), meanwhile US retail giant TK Maxx has announced it will open seven stores in Sydney.
The John Lewis brand is also being rolled out across department stores in Melbourne and Perth after an initial testing phase in Warringah, on Sydney’s northern beaches, while TK Maxx, subsidiary of the TJX company (NYSE:TJX) will soon have 35 stores open across Australia.
Katie Jordan, John Lewis’ head of international retail said: “We’ve had a brilliant response, particularly to the textiles but generally customers are very excited to see a new style in the store, a new aesthetic they haven’t seen before.”
TJX entered the Australian retail market in October 2015 by buying retailer Trade Secret in a AUS$80 million deal, but now will convert its 35 Trade Secret brand stores into TK Maxx.
The entry of John Lewis and TK Maxx into the Australian retail market comes on the back of a number of casualties in the last year, with brands such as Herringbone, Pumpkin Patch and Payless Shoes heading into administration.