Australian footwear retailer Diana Ferrari is the latest store to fall victim to the country’s retail slump, announcing it will close up shop in coming months.
The iconic brand, part of the Munro Footwear Group (MFG), will close all 23 stores and 11 clearance outlets within months, beginning from January 21.
The label will continue to have an online store, where sales of 30 per cent are currently underway.
Founded in 1979, Diana Ferrari opened their first store in 2000 and said they were proud to have served their customers over the last 17 years.
Australian footwear retailer Diana Ferrari is the latest store to fall victim to the country’s retail slump, announcing it will close up shop in coming months
The label will continue to have an online store, where sales of 30 per cent are currently underway
‘All Diana Ferrari stores will be closed over the coming months, but our fabulous footwear will continue to be available through our online stores, Mathers, Williams, wholesale stockists and major department stores,’ a company statement read.
‘We truly appreciate and thank all our loyal clothing customers over the last 17 years.’
Staff who currently work at Diana Ferrari stores will be placed in other shops with the MFG group, Sydney Morning Herald reports.
Diana Ferrari stores in Woden in Canberra and the Chatswood, Penrith and Hornsby stores in New South Wales will shut down on January 21, followed by Miranda in NSW and Knox in Victoria on January 28.
The brand is the latest to fall victim to the slow retail climate, with Maggie T, yet another Australian brand, entering into administration last week.
High end handbag retailer Oroton also entered administration in November, after losing $14.2 million in 2017.
Staff who currently work at Diana Ferrari stores will be placed in other shops with the MFG group (pictured: some of the latest season’s footwear)
The store currently has several sales running online, after announcing stores will close