SYDNEY -- Leading Australian department store operator Myer Holdings is courting younger consumers with the recent acquisition of brands like Dotti, though its strategy focused on medium-priced labels has been met with skepticism amid the rise of budget Chinese e-tailers.
Myer acquired five apparel brands from Premier Investments for 864 million Australian dollars ($540 million) last month. The brands, which include Just Jeans and Jacqui E, operate a combined 719 stores and make around AU$800 million in sales, taking Myer's groupwide total to over AU$4 billion.
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