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Best & Less

Best & Less is an Australian retailer of clothing and household linens. As of October 2022, Best & Less has 182 stores as well as an online platform.[1]

History

Best & Less was founded by Berel Ginges in January 1965, by occupying part of the ground floor of the department store "Snows" which was in the process of closing down.[2][3] Prior to trading as Best & Less, the store was known as "Shenows". Best & Less officially opened their first store in Parramatta on 27 May 1965.

Best & Less was known for its frugal in-store appearance, with minimal fixtures, and its advertising tagline was "You don't pay for any fancy overheads". The ads often featured Joy Muir, then president of the Australian Housewives' Association, delivering the line to cameras.

In 1998, Best & Less was acquired by the South African investment company Pepkor.[3] Steinhoff Asia Pacific (later renamed Greenlit Brands) obtained Best & Less when it acquired Pepkor in 2014.[4][5]

In December 2019, Allegro Funds acquired Best & Less from Greenlit Brands.[6]

Best & Less Group

Best & Less Group is the holding company which comprises Best & Less and the New Zealand clothing chain Postie. It was floated on the Australian Securities Exchange in July 2021 under the code BST.[7]

In February 2023, CEO Rodney Orrock left the company to focus on his health.[8]

BB Retail Capital acquired Best & Less in July 2023.[9]

External links

References

  1. Annual Report 2022 Best & Less Group, 21 October 2022, retrieved 22 April 2023^
  2. Chapter Four 1980–1990 Raising the Stakes retrieved 22 April 2010^
  3. Eve Kaufman. Berel Ginges founded Best & Less but was known for so much more The Sydney Morning Herald, 21 January 2015, retrieved 16 April 2023^
  4. Dominic Powell. Best & Less, Harris Scarfe back in Australian hands The Sydney Morning Herald, 19 November 2019, retrieved 16 April 2023^
  5. Dean Blake. Steinhoff Asia Pacific rebranding Greenlit Inside Retail, 28 September 2018, retrieved 16 April 2023^
  6. Sarah Thompson. Mum's the word at Best & Less Group Australian Financial Review, 29 April 2021^
  7. Sarah Thompson, Anthony McDonald, Tim Boyd. Blundy piles into Best & Less; IPO 2.0 launched Australian Financial Review, 22 June 2021^
  8. Carrie LaFrenz. Reject Shop CEO exits after 7 months Australian Financial Review, 31 January 2023, retrieved 16 April 2023^
  9. New Best & Less owners force compulsory acquisition July 10, 2023^