BJM 2020, the owners of jewellery store Colette by Colette Hayman, have acquired The Daily Edited following a robust process with KordaMentha. It will now trade as tde.
The tde. business originally had an international store footprint with selected stores across Australia, New Zealand, US and Singapore, and with sales in excess of $20 million.
The tde. business has a flagship store in Sydney’s QVB and a significantly enhanced online presence. The business has retained key staff to add to CBCH’s portfolio of up to 700 employees and 57 stores.
Executive Chairman Bernie Brookes AM, former CEO of Myer, will be the major shareholder, with Marianne Jones and Anthony Coelho as existing joint CEOs of CBCH.
Brookes commended the efforts of the KordaMentha team, who ensured continuity in trading through both the acquisition process and the current Christmas period.
He said that key staff will be retained and that gift cards will be honoured.
"We have developed a strong plan to stabilise and then continue to build the brand whilst investing in stores and online," Brookes said. "In addition, we have a strong supplier base who have indicated their continued ongoing support to tde. and they will continue to immediately provide fresh stock.
"We see the tde. suppliers as important trade partners and part of our future.”
He added that tde. has strong brand awareness both locally and internationally, which he said provides a suitable foundation to strengthen its only and brick and mortar locations.
"The combination of personalisation, with a premium range of fashionable leather goods, is a unique proposition and continues to be sought after by customers.”
Speaking on its acquisition of Colette by Colette Hayman, Brookes said his team have increased store footprint by 60% to 57 stores and attained a turnover of 300% since purchasing the brand.
He said BJM has assembled managers to lead its in-house digital, product design and marketing teams to drive omnichannel initiatives.
“The buying teams have maintained a strong interface with our valued suppliers, and we have recently engaged the creative agency Paper, Stone, Scissors to relaunch the CBCH brand in 2023," he said.
“In discussion with the joint CEOs, we will obviously leverage synergies, however it is mandatory in view of the differences in brand personas, that we continue to trade the brands independently.
“Whilst my original decision to take the majority shareholding in CBCH was viewed as contrary at the time, due to the difficulties facing bricks and mortar, we achieved a 300% increase in turnover in our retail store sales despite Covid headwinds."
tde. will move to full ownership under BJM by the end of January 2023. BJM said it will continue to seek further acquisitions to build the group.
tde. is an Australia brand selling embossed and personalized women's and men's leather goods, stationery and desk accessories, bags, pouches, clutches, wallets, phone cases, diaries and overnight bags.
Colette by Colette Hayman is an Australian affordable handbag, jewellery and fashion accessories business. CBCH’s bags, clutches, wallets, travel goods, purses, tech accessories are all vegan with PETA approval.
It operates in 57 stores across Australia, a national and international online presence, with products also available in South Africa.