What: Myer is selling off 3 brands acquired in the 2010s.

Why it is important: Private labels are important in department stores’ economics, but rationalizing them is even more so.

Myer is selling its owned fashion brands Sass & Bide, Marcs, and David Lawrence, with KPMG managing the sale. Sass & Bide will be sold separately from Marcs and David Lawrence. Myer acquired Sass & Bide in two stages, initially buying a 65% stake in 2011, and the remaining shares in 2014. Marcs and David Lawrence were purchased in 2017 after entering voluntary administration. This move is part of a trend of Australian labels being sold, including Zimmermann and Seafolly, and coincides with Myer reducing its store portfolio.

Myer is divesting in 3 privately-owned labels