Australian clothier Pas Group completes Metalicus sale

By

Benjamin Fitzgerald

Published
Sep 30, 2016

Pas Group confirmed it has completed the sale of Metalius brand to fellow Australian retailer, General Pants Group. The sale was originally announced in July this year with the transaction conducted by way of asset sale.

Pas Group -- which also owns Review, Jets Swimwear and Marco Polo, said the sale will free up working capital and management resources. The retail conglomerate hopes to focus on core and new businesses, it said.
The transaction is not expected to impact on the companies divestment in full year 2017.

“I would like to take this opportunity to thank all of Metalicus staff for their effort over the past years and wish them every success in the future,” said Eric Morris, CEO, Pas Group.

Pas said despite Metalicus sales in fiscal 2016 reaching $25 million (US$19.07 million), the brand's profitability had been disappointing.

Established in 1992, Metalicus clothing grew in popularity due to its stretch fabrication, making it "perfect for travel due to its easy care attributes and is also ideal for maternity wear enabling the product to be worn before, during and post the pregnancy," said the Melbourne-based brand on its website.

Metalicus currently boasts 35 stand-alone retail stores, 13 Myer concessions, approximately 185 wholesale accounts, as well as an online store.