Home » Sleepwear brand Peter Alexander ramps up local, global expansion plans

Sleepwear brand Peter Alexander ramps up local, global expansion plans

Billionaire Solomon Lew’s Premier Investments has delivered $174.3 million in first-half profits and a bumper interim dividend of 70¢ a share as the fashion apparel giant unveiled international growth plans for Peter Alexander and Smiggle, its two biggest brands.

Premier Investments, which also owns and operates Just Jeans, JayJays, Dotti, Portmans and Jacqui E recorded a 4.6 per cent rise in earnings before interest and tax to $221.8 million for the first half of the 2023 financial year. Its half-profits represent a 6.5 per cent increase on the same six months last year.

Peter Alexander and Smiggle owner Premier Investments posted strong half-year profits.Credit:Edwina Pickles

The retail house is planning to open 30 new Peter Alexander stores in Australia and upgrade its online presence in 35 countries, and is finalising talks with a global e-commerce platform that would plug into the Australian website to provide overseas customers with a better online shopping experience.

“We’ve gone to a platform provider, and we’re in the middle of finalising things with them. Their system allows you to seamlessly access those 35 countries,” said Premier Investments CEO Richard Murray.

The current system for overseas customers was “not an experience we hold ourselves to”, he said, and he was aware of Australian expats overseas who wanted to buy Peter Alexander apparel.

Loading

“We need to put a better foot forward. So this provider will help us with the wiring and enable us to be more seamless,” he said. “If you were sitting in the UK, the US, [or] the Emirates and you bought a pair of Peter Alexander pyjamas, it would be a much, much, much better customer experience.”

The company also said it had “identified 20 to 30 opportunities” to open new or larger stores in the country.

Retail sales grew 17.6 per cent to $905.2 million, but the online sales segment of that (18.9 per cent of total retail sales) slumped by 12.5 per cent as people shopped in-store.