EziBuy

In a statement to the Australian stock exchange, Mosaic said the brand's sales had declined. Total sales in the first half of the financial year were down 51% ...

It had appointed administrators. *

An online clothing retailer attached to an ASX-listed shopping giant has gone into administration. Earlier on Monday, e-commerce brand EziBuy, which has fo.

Mosaic Brands sells nine prominent women’s clothes lines including Millers, Rockmans and Rivers but said the performance of EziBuy was “at odds” with the rest of its operations. - Publish Date - Author - Mon, 3 Apr 2023, 10:03PM [news.com.au](/author/?Author=news.com.au),

EziBuy, an online clothing and homeware retailer and a subsidiary of ASX-listed Mosaic Brands, has entered administration.

“Having considered the result of that review, the board determined that it was in the group’s best interests as a whole that the EziBuy business be restructured.” “The extent of EziBuy’s sales decline, particularly in the context of the group’s wider positive portfolio of online performance, prompted the board to conduct a strategic review of its operating and cost structure. Mosaic, which acquired EziBuy prior to the pandemic as part of its online strategy, was stated to be profitable in 2021 and 2022 as people switched to online shopping.

In 2019, Mosaic Brands made a $1 turnaround investment in EziBuy, an Australian e-commerce company. Within 18 months, EziBuy had 2.7 million members and was ...

Online sales now make up 23% of Mosaic Brand’s revenue, and they are 68% higher than pre-pandemic levels. In response to EziBuy’s sales decline, Mosaic Brands announced plans to restructure the company. However, in the past six months, EziBuy’s sales have significantly decreased compared to Mosaic Brand’s online performance.

The brand -- which has four stores in New Zealand, and an e-commerce platform on both sides of the Tasman -- has gone into administration.

News this week that the prolific email and catalogue-sending retailer Ezibuy has been put into administration by its Australian owners is likely to be the ...

“It laid the template for how digital marketing businesses are surviving today in terms of best practice and maximum profitability.” “Now, fast fashion is prevalent through much of New Zealand and Australia, especially in those areas where Ezibuy used to be successful, the provinces and country areas. “They have a massive database that someone could potentially leverage but I don’t see it having a future.” He said it might have suffered from being an early mover. At the time, it was reported that Woolworths wanted to use it to boost its online capabilities. “For many years it was the darling of the market – they owned the catalogue market. [ Hallenstein Glassons warned that early winter trading](https://www.stuff.co.nz/business/131659391/hallenstein-glasson-says-winter-trading-challenging-with-cost-of-living-inflationary-pressures-impacting-spending) had been challenging as the cost of living put pressure on shoppers. It kind of lost its way. When it claimed $2.28 million in wage subsidy during the pandemic, it reported 354 staff. But in 2017, Woolworths sold Ezibuy to Alceon Group, a major shareholder in Mosaic Brands, for A$30 million (NZ$32m). [But] as its customers grew older and their preferences changed, it didn’t transform with them. As a result, Ezibuy has appointed Katherine Elizabeth Barnet and Damien Mark Hodgkinson as administrators.”

No one is more saddened by the downfall of EziBuy than co-founder Peter Gillespie who, with his brother Gerald, built the business into a powerhouse online ...

It depends on Mosaic’s appetite for physical retail,” Wilkinson said. “Apparel is sliding as consumers change in spending,” he said, Peter Gillespie said yesterday he was comfortable with the decision back then to sell the business. The administrators will likely propose a deed of company arrangement, known as a Doca, on how to move forward with trading. Originally based in Palmerston North, EziBuy grew into one of Australasia’s biggest multichannel retailers. Wilkinson said fashion retail “is about evolving and continuing to change” and that EziBuy has “lost its direction”. “Apparel is one of the hardest hit areas of discretionary spending,” Wilkinson said. Wilkinson said the retailer’s NZ stores could be used in a number of ways. “The board determined that it was in the group’s best interests as a whole that the EziBuy business be restructured,” the company said. Wilkinson added the cost of living crisis is likely to have affected the business. Fogarty said EziBuy was not performing as well as Mosaic’s other brands since the pandemic and the voluntary administration meant the company could “reorganise the business”. Make it your business to knowStart your day with the latest business headlines straight to your inbox.

Bad news for clothing and homewares retailer EziBuy. The company has been put into administration by its Australian owners - which is likely to be the end.