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Australian Pretty Girl Group up for sale

By Angela Gonzalez-Rodriguez

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Retail fashion chain Pretty Girl, which has almost 400 Rockmans, BeMe, W. Lane and Table Eight stores across Australia and is 100 percent-owned by Consolidated Press Holdings (CPH), will be soon changing hands.

The Australian retail conglomerate registered 7.6 million Australian dollars profit in 2015, achieving its best result for years and up from a 266,000 Australian dollars loss a year earlier.

“Pretty Girl has continued to improve in terms of its trading performance. That was a good performance in the fairly weak retail environment. We have a good understanding of what the customer is after and getting the mix of the product right,’’ said CPH executive director Michael Johnston Monday.

However, the retail arm of CPH is now considered as a non-core asset in the group. “We are not a natural long-term holder. I think we will ­consider selling the business in the future. But as to the timing of that, it is unclear,’’ Johnston told ‘The Australian ’.

“I think we will ­consider selling the business in the future. But as to the timing of that, it is unclear”

James Packer’s last legacy investment, dating back to before the death of his father Kerry in 2006, is therefore set to be sold, ending a decade of asset sales across a range of industries.

Pretty Girl