SFG loses La Senza licence | IR News

SFG loses La Senza licence

Posted Date: 07/01/2013

By Inside Retail

Specialty Fashion Group (SFG) is no longer involved with the La Senza lingerie brand, with all 19 Australian La Senza stores to cease trade.

A statement from the company says the brand will exit the licence over the next six months with stores to be either closed or converted to one of SFG's other apparel brands, which include h Millers, Katies, Crossroads, Autograph, and City Chic.

According to SFG, the seasonal and demographic complexities of the La Senza product being developed for the North American market have not translated and proved challenging in the Australian market.

Inside Retail sources say the decision was made abruptly in the final weeks of December, with store conversions already in planning before the close of 2012.

The online store, www.lasenza.com.au, is expected to continue to trade until mid-2013.

SFG says that there are no penalties for cancelling the licence and the financial impact of La Senza to the Group’s EBITDA result will not be significant, with higher investment returns expected from stores converted to other brands.

SFG operates 900 stores across Australia and New Zealand.

The group had made claims that as a result of its relationship with La Senza's parent company, which also owns the Victoria's Secret brand, that it was also likely to introduce Victoria's Secret to the Australian market, however, this now looks unlikely.

Keywords: La Senza, SFG

Comments:

Thursday, April 11, 2013 by SARA

I cant believe this!!! they were the only beautiful good quality bras that you could buy in australia for affordable prices...now back to crappy bras and things lingerie

Thursday, March 28, 2013 by Louise

I'm not surprised, the underwear was cheap and tacky and of poor quality. The fit of the bra's was not good either. People here rave about Victoria's Secret but most American's think it is rubbish quality and fit. There is definately a gap in the market for well priced and stylish underwear but La Senza was not the answer.

Tuesday, March 26, 2013 by Karol

That's the Australian retail companies and market for you. If its new, fresh and offers something exciting, world-class and quality, chances are they won't survive. Go in Oz, go back to buying boring old Bonds underwear from Big W. Ridiculous!

Saturday, March 09, 2013 by Cheryl

As an ex employee telling them the range did not meet Australian womens requirements this has not come as a surprise at all. It proves that more notice should be taken of the feedback offered by those working on the frontline trying to meet budgets and sell the products. It is a shame.

Thursday, March 07, 2013 by SHARON

NO WAY!!!! I LOVE THEIR BRAS THEY ARE THE BEST FIT AND COLOUR AND PRICE AND ARE SO FLATTERING IM DEVESTATED!!!

Friday, February 15, 2013 by Chloé

This is the only range I wear now, I can't even access the Canadian site which shipped overseas....very irritating!

Thursday, February 14, 2013 by jules

Hopefully we can purchase from their US site if they ship to Australia like victoria's secret does

Thursday, February 07, 2013 by Rachel

This store had a lovely range of underwear that was sexy, practical and comfortable. I'll miss their stock. I'll have to get my hands on as much as I can while they are still trading online.

Wednesday, February 06, 2013 by Nadine

No no no...so sad, loved there ranges such a pity.Theres no other retailer like it.

Sunday, January 20, 2013 by Natasha

That is very disappointing news. I love their range and its a pity they have decided to close stores. They should still keep the online site.

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