Australian low-price retailer Best & Less has named Aaron Faraguna as its new CEO.
Faraguna confirmed the news in a LinkedIn post, where he thanked current Best & Less owner Ray Itaoui for offering the role to him.
“For those who may not be familiar, Best&Less has been a trusted name in Australian retail for 60 years, offering quality fashion and essentials at great value,” Faraguna shared. “Since its humble beginnings in 1965, the company has grown to become a beloved brand for families across Australia.”
Faraguna’s appointment comes more than one-and-a-half years after Ray Itaoui and fellow business associate Brett Blundy acquired the Best & Less brand through a shareholder takeover.
After successfully buying all shares, the brand was then delisted from the ASX, and now trades a private business. Ray Itaoui was initially locked in as the CEO.
Faraguna’s new leading role follows a near two-year stretch as the CEO of JD Sports across its Australia/New Zealand market. His prior CEO roles also include Kennedy and David Jones.
Best & Less manages around 200 stores across Australia, as well as an online e-commerce website.