Retail in Asia

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David Jones set to double spending to fix stores

David Jones’s new South African owners plan to double spending on stores, visual merchandising and systems – outlaying between AUD300 million (USD232.4m) and AUD400 million over the next five years – in an attempt to reverse years of underinvestment and transform the 177-year-old retailer into the best department store in the southern hemisphere.

"Historically David Jones was the iconic brand in the southern hemisphere but it kind of lost its way over the last few years," new chief executive Iain Nairn said.

"Around the world we’ve seen a resurgence of Selfridges and Bonmarche and La Rinascente in Italy – they’ve all been on this journey [but] David Jones has been behind the eight ball and we are determined to put it back in its rightful position."