Bad news for shoppers: two more iconic Aussie brands set to bite the dust
Australia’s retail slump has claimed another victim, with iconic boutique footwear brand Diana Ferrari set to shut all 23 stores and 11 clearance outlets within months.
The label, which was founded in 1979, will continue to maintain an online presence.
“All Diana Ferrari stores will be closed over the coming months, but our fabulous footwear will continue to be available through our online stores, Mathers, Williams, wholesale stockists and major department stores,” a company statement read.
“We truly appreciate and thank all our loyal clothing customers over the last 17 years.”
This news comes as plus-size retailer Maggie T has announced it would also be going into administration, with the company reportedly struggling to pay significant debts.
Since the announcement, the company has slashed prices of clothing in online sales, with customers able to save as much as 70 per cent on certain products.
What are your thoughts? Do you think this is simply a case of retailers failing to respond to a changing environment? Or should more to done to protect iconic Australian brands?