The new owner of embattled womenswear chain Barkins has tabled a three to five year retail rollout of the brand.
Barkins’ parent company BEM Corporation entered liquidation in February, owing around $1.9 million to secured creditors and $5.9 million to unsecured traders. As reported on ragtrader.com.au, the chain has since launched its first store under new ownership at Melbourne’s QV.
New owner and managing director Scott Chinnock, who operates streetwear player Frat House and is a former general manager at Converse (Retail), is actively in talks with landlords to open an additional four stores in the lead up to Christmas. This will be followed by an increased door count over the next three to five years.
Chinnock said the acquisition of Barkins’ intellectual property came at an ideal time for his existing business.
“We were looking at launching our new concept and felt there was brand equity and alignment in what Barkins represented in the current market place. The timing of the demise of the previous Barkins business presented an opportunity to purchase the brand and trading name to kick start our new directon whilst reaching the market with a trusted brand name.”
The brand has undergone a major overhaul as part of the acquisition, including new logo and imagery, new web and store fit outs, visual merchandising strategies and styling. There are currently nine head office employees and over 50 key store staff working under the brand.
“We plan on delivering new product to market every two weeks, whilst bringing design close to market and implementing key stock to store replenishment algorithm to maximise key selling styles by store and supply the customer with what they want,” Chinnock said.
He confirmed the company is working with a number of new supply channels, as well as existing vendors for the brand. There are no requirements to unsecured creditors under the sale terms. Chinnock has not ruled out further acquisitions in future.
“We are always on the look out for business opportunities that align with our core business and add value to our current offer.”
