Briscoe Group takes a stake in troubled Kathmandu

  • News
  • June 30, 2015
  • Elly Strang
Briscoe Group takes a stake in troubled Kathmandu

Briscoe Group says it accumulated 4.9 percent in shares over time and secured a further 14.9 percent from shareholders at $1.80 per share.

The NBR has reported that the number of shares bought at $1.80 would value Kathmandu's equity at $363 million.

Briscoe Group announced the purchase this morning, which is said to have come as a surprise to Kathmandu.

Kathmandu said in a statement it hadn’t had any contact with Briscoe Group.

A spokesperson for Kathmandu had no further information to give when contacted.

It has been previously speculated that Briscoe Group may step in and take control of Pumpkin Patch, another struggling retailer.

Pumpkin Patch abandoned its search for a buyer this month, and lost its CEO Di Humphries days later.

Briscoe Group managing director Rod Duke has a seat on Pumpkin Patch’s board and owns about 10 percent of the kids’ clothing chain.

Instead, he has gone after Kathmandu. The struggling outdoor company posted a $1.8 million loss in the six months ending January 31.

The loss was attributed to aggressive Christmas discounting and poor trading in January.

The company’s then acting CEO Mark Todd vowed to change Kathmandu’s promotional activity and scale back its new store openings this year to recover.

In contrast, Briscoes is in good health, and made a record profit of $39.3 million after tax in the year ending January 25.

Duke said in a statement he was excited by the prospect of bringing Briscoes, Rebel Sport and Kathmandu together.

“I am excited by the potential that would arise from bringing together these two iconic retailers – we each have strong and recognisable brands that I see as complementary,” Duke said. 

The takeover is imminent and will comprise of both cash and scrip to Kathmandu shareholders.

Kathmandu has already seen a spike in the value of its shares.

Yesterday (29/06) they sat $1.39 and today (30/06) they have jumped to just over $1.70.

This isn’t as good as it’s been in the past, as Kathmandu was trading at $3.20 just last year.

Briscoe Group’s shares have risen 2.8 percent to $2.93.

Briscoe Group did not want to comment further on the purchase.

​ ​

This is a community discussion forum. Comment is free but please respect our rules:

  1. Don’t be abusive or use sweary type words
  2. Don’t break the law: libel, slander and defamatory comments are forbidden
  3. Don’t resort to name-calling, mean-spiritedness, or slagging off
  4. Don’t pretend to be someone else.

If we find you doing these things, your comments will be edited without recourse and you may be asked to go away and reconsider your actions.
We respect the right to free speech and anonymous comments. Don’t abuse the privilege.


Direct sales: How multi-level marketing works

  • News
  • April 18, 2019
  • Sarah Dunn
Direct sales: How multi-level marketing works

The $200 million-plus direct sales economy contains many lessons retailers can use. As part of a wider look at this thriving corner of retail, we created a quick explainer showing how this business model typically works.

Read more

Direct sales: Meet the upliners

  • News
  • April 18, 2019
  • Sarah Dunn
Direct sales: Meet the upliners

We profiled different participants in the direct sales industry to find out what retailers can learn from them. Meet Isagenix distributors Adam Nesbitt and Bianca Bathurst.

Read more

Direct sales: Meet the business builder

  • News
  • April 18, 2019
  • Sarah Dunn
Direct sales: Meet the business builder

As part of a wider story looking at what retailers can learn from the direct sales industry, we profiled Isagenix distributor Ben Frost.

Read more

Social scoreboard

Zavy and The Register have worked together to create a scoreboard that compares how the top 25 traditional media advertising spenders in New Zealand have performed on social media over the past 30 days, updated in real time.

Concept to closet
Business coverage of New Zealand Fashion Week.
Town centres
A positive retail environment over the past 12 ...
Amazon Arrival
Keeping up with all things Amazon as it ...
The Retail Yearbook 2017
As we battle our way through the busiest ...
Hospitality enhancing retail
Some think food and integrated hospitality offerings will ...
The future is bright
We spoke with four retailers in their twenties ...
Spotlight on signage
At first glance, the humble in-store sign might ...
Red Awards 2016
The Red Awards for retail interior design celebrate ...
Auckland Unitary Plan
Auckland is changing. The Unitary Plan will decide ...
How to open a store
Sarah Dunn considers what it would take to ...
All things to all people
Kiwi retailers share their omnichannel strategies.
Rising stars
Retail's top young achievers.
Delivering on your promises
The sale isn't over until your item is ...
Retail in heartland New Zealand
Retailers keep the regions pumping, but how strong ...
Women in retail help one another. We spoke ...
The changing face of retail
Shifting demographics are creating big changes in New ...
The retail yearbook
With the help of experts in the retail ...
Retail rogues
We put the spotlight on staff training. Jai ...
Here come the giants
Topshop has arrived in Auckland’s CBD, David Jones ...
Window shopping: A spotlight on social media
Sarah Dunn and Elly Strang look at how ...
From retail to e-tail
Ecommerce has become part of the way mainstream ...
Loyalty in the digital age
How are retailers maintaining loyalty? Sarah Dunn, Elly ...
The Innovators | In partnership with Spark Business
Technology is rapidly changing the retail industry as ...

Leveling up: Exploring multi-level marketing in New Zealand

Is the $200 million-plus direct sales economy retail by another name or something different? Regardless, what can we learn from it?


A spectrum of retailers

  • Opinion
  • April 18, 2019
  • David Farrell
A spectrum of retailers

In recognition of April being Autism Awareness Month, retail commentator Dave Farrell considers the role of those on the spectrum in retail.

Read more

How on-trend is your retail business?

  • Sponsored Content
  • April 18, 2019
  • Sponsored content
How on-trend is your retail business?

New insights from Visa highlight five evolving trends emerging from savvy retailers around the world. We’ve taken these global trends and looked at how they are playing out with merchants in New Zealand, and we’d now like to hear what you think of them.

Read more
Next page
Results for
About us.

The Register provides essential industry news and intelligence, updated daily. And the digital newsletter delivers the latest news to your inbox twice a week — for free!

©2009–2015 Tangible Media. All rights reserved.
Use of this site constitutes acceptance of our Privacy policy.

The Register

Content marketing/advertising? Email or call 022 639 3004

View Media Kit