Country Road issues a major update to customers after shutting stores
The iconic brand that has been an Aussie wardrobe staple for more than half a century has shut down several stores in recent months, amid plummeting sales during its worst financial years on record.
One of its longstanding flagship stores at Sydney CBD's Queen Victoria Building has shut up shop, as has sister brand Trenery in Mosman, on Sydney's affluent lower north shore.
A Country Road outlet in the same suburb is currently closed for renovations, while another CBD store at Pitt Street Mall faces an uncertain future when its lease expires in three years' time.
The company has since assured customers that its retail footprint is being expanded in Sydney, Brisbane, Melbourne and Adelaide.
'From time to time, we review our retail store portfolio to ensure we're continuing to meet the needs of our customers,' a spokesperson told Daily Mail Australia.
'We are committed to delivering great experiences throughout our networks and we are investing in our stores, with 10 new or refurbished stores opening by the end of the year.'
A new Country Road flagship store will open in Brisbane's Queen Street Mall next month, followed by the reopening of the 'beautifully renovated' Mosman outlet in September.
Elsewhere on Sydney's north shore, new Country Road, Trenery and Witchery stores will open at Chatswood Chase in October as part of the centre's redevelopment.
In Melbourne, Country Road Eastland will relocate to a larger location next month while new Trenery, Mimco and Politix stores will open in the CBD at 260 Collins St in November.
In Adelaide, an expanded and refurbished Country Road Burnside store will open in October.
No other reason was given for the recent closures at Sydney's QVB and Mosman, which lasted just three years.
The future of Country Road Pitt Street Mall beyond August 2028 remains unclear.
'If a change is required due to the end of lease, our aim will be to find a suitable new location,' the spokesperson added.
The closures and openings cap off a turbulent year for the Woolworths Holdings-owned retailer, which also includes fashion brands Mimco, Witchery, and POLITIX.
Sales across the brands plummeted by 6.2 per cent in the first half of the 2024–25 financial year, citing economic and operational headwinds.
The news comes just weeks after Country Road Group chief executive Raju Vuppalapati announced his resignation, amid a lingering scandal over complaints handling by executives.
Mr Vuppalapati will depart at the end of August to pursue 'personal interests' after four years in the top job, news that reportedly sparked relief from some staff.
Last October, he warned that the group was facing a 'perfect storm' of challenges after recording its worst financial year on record.
The downturn followed an external investigation launched in May 2023 after complaints were made against former chief supply chain officer Rachid Maliki.
A number of employees threatened to leave the company in protest.
Country Road was founded in 1974 as a niche women's shirting business that has grown into Australia's first lifestyle brand, renowned for its high-quality apparel, accessories, and homeware.
The retailer was also one of the first major Australian brands to open in the US.
Woolworth Holdings Limited (South Africa) (WHL) secured a controlling interest in Country Road in 1998.
Country Road Group has vowed to buck the trend following the collapse of dozens of other fashion retailers in recent months.
Hundreds of Rivers, Katies, Noni B and Millers stores have closed across Australia in recent months after parent company Mosaic Brands made major cuts to 'consolidate' its business.
Thousands of retail jobs were slashed in the process.
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