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Fashion retailer Universal Store enters South Australia, invests $700,000 first outlet at Marion Shopping Centre
by: VALERINA CHANGARATHIL
From: The Advertiser
August 22, 2013
AUSTRALIAN fashion retailer Universal Store has taken a $700,000 punt on South Australian shoppers, opening its first store at the Westfield Shopping Centre at Marion today.
The retail chain's 23rd store, which employs four full-time staff, would help the group expand on its base of online store customers in Adelaide.
The investment figure inclues the cost of its store fitout and value of the stock.
Queensland-based Universal Store retails men's and women's denim and street fashion covering styles from top international brands and Australian labels, including G-Star, Minkpink, Neuw, and Finders Keepers.
Users of a popular web forum likened the styles to those offered by Globalize and Live.
The move into what was formerly Australian Geographic's 15-year-old home at the centre was spurred by the Adelaide vibe, brand manager George Do said.
"Westfield Marion is one of the top centres in the country and a great demographic fit for us so there's no better place to launch in South Australia."
Universal Store co-founder Greg Josephson said being in one of the top 10 largest shopping malls by sales turnover was a good investment move.
"We see the current contraction in the retail markets as an opportunity to expand.
"It's always a risk but we have been growing year on year for the past 13 years," he said.
Customers will receive 20 per cent off storewide during a four-day launch with instant prizes for the first 150 customers each day, including a year's supply of shoes for a couple and a chance to win passes to Stereosonic 2013.
Other Universal Store outlets are spread across Queensland, Victoria and Northern Territory.
King of knives went into voluntary administration and they are closing all stores nation wide.Ben wrote:King of knives is closing this Saturday. Still 14 empty shops at this stage.
Westfield announced its 3rd quarter profit today. No new announcements.
Maybe they have because the one at Golden Grove Village closed a couple weeks ago too.Ben wrote:TeleChoice has now closed down. Did they also go into Administration I remember reading something but can't find it now.
I've heard JB HiFi is moving, this location would make sense, considering the potential late night trading options coinciding with cinema patronage on Thursday, Friday & Saturday nights.Ben wrote:LIVE is closing down September 21. Quite a large central location. Will be interesting to see what goes there.