Australian fashion retailer Mosaic Brands is closing its Rockmans, Crossroads, Autograph, W. Lane and BeMe brands, citing a lack of brand diversity as a contributing factor to its demise. The company's CEO Erica Berchtold said the move will allow them to focus on their 'five core growth brands'.
The demise of Australian fashion retailer Mosaic Brands may have been because its various brands were targeting the same customers, a retail expert says. Mosaic announced on Monday that its Rockmans, Crossroads, Autograph, W. Lane and BeMe brands were marked for the chopping block and that all stores and websites would be shut down. Rockmans, Autograph and W.Lane have a combined 231 stores, according to Mosaic’s 2023 annual report. BeMe Brands and Crossroads are pure-play digital brands.
Queensland University of Technology Business School retail expert, Gary Mortimer, said Mosaic Brand’s failure was marketing to the “exact same audience”—middle-aged, middle class women. “If you walk into a shopping centre, you will find at least two, if not three, of those brands all competing for the same customer and that just duplicates and triplicates the cost of doing business,” he told News.com.au in August when Mosaic’s financial issues first emerged.
Retail Fashion Mosaic Brands Brand Diversity Store Closures
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