(Reuters) – Australian specialty retailer Premier Investments said on Tuesday it was exploring the possibility of demerging and separately listing its Smiggle and Peter Alexander brands as part of an ongoing strategic review.
The company is working to separate stationery brand Smiggle by the end of January 2025 and designer sleepwear brand Peter Alexander in calendar year 2025, it added.
The strategic review began in August 2023, with a particular focus on stationery, sleepwear and apparel brands.
The fashion retailer also reported half-year net profit of A$177.2 million ($115.87 million), up about 1.7% year-on-year.
Premier Retail reported global sales of A$879.50 million, of which Smiggle supplied A$183.90 million and Peter Alexander recorded A$279.30 million.
“The strategic review concluded that the potential separation of Smiggle and Peter Alexander is likely to maximize and accelerate the growth opportunities for the two brands over time,” chairman Solomon Lew said.
($1 = 1.5293 Australian dollars)