It is good news for shopping diversity if DJs does indeed go ahead and open a retail store in Hobart Tasmania. Myer is taking a long time to re-open its store in Hobart so it is possible that DJs wants to get in before Myer actually opens its new bigger store.
DJs eyes Hobart shop
RETAIL giant David Jones is looking to set up shop in Hobart.
The arch competitor of Myer, which has already unveiled its massive city redevelopment, has shown keen interest in potential city sites.
A DJs department store in the heart of Hobart would provide a massive boost to retailing and bring new competition to a market traditionally dominated by Myer and its Collins St competitor Harris Scarfe.
It would also challenge Tasmania’s smallest specialist fashion retailers which stock some of the traditional DJ brands.
DJs is renowned for its high-end, international fashion labels such as Armani, Burberry, Chloe, Dolce & Gabbana and Givency.
Its range of Christian Louboutin shoes retail for as much as $1400 a pair while its Jimmy Choo handbags fetch more than $3000.
The store is not only Australia’s oldest department store, it is also the oldest department store in the world still trading under its original name.
It’s also known for its fierce rivalry with Myer even down to the duelling catwalk queens, Miranda Kerr (DJs) and Jennifer Hawkins (Myer).
The company did not return calls from the Mercury yesterday but local real estate industry sources confirmed that the retailer has inspected or made inquiries about four potential CBD properties.
DJs, which has key stores in every state and territory except Tasmania and the Northern Territory, has shown an interest in establishing itself in Hobart on and off for the past 10 to 15 years.
But the latest investigation is believed to be its most intensive and it has peaked in the past few weeks.
“The company is always casting around and their interest is triggered every so often by real estate opportunities or a hole in the market such as Myer’s long-term absence,” one real estate industry observer said yesterday.
Myer’s proposed $100 million redevelopment of its Liverpool St site has now been approved by the Hobart City Council and a new store is expected to be open for business by Christmas 2013.
There is now more than $1 billion worth of development under way or in the pipeline in Hobart and a massive shopping complex planned for Hobart airport.
Whether David Jones thinks it is ready to go head to head with Myer in Hobart is the big question.
David Jones did not have a great trading year in 2010-2011 in a tough retail environment.
However, Australia’s oldest department store still invested $81.5 million in capital projects including building a new store in Claremont, Western Australia.
Other new stores at Port Macquarie (New South Wales), Whitford (WA) and Sunshine Plaza and Pacific Fair (Queensland) are expected to open in 2014-16.
Miranda Kerr is the face of David Jones, which is looking to open a store in Hobart.
Do you want DJs to open a store in Hobart Tasmania? What do you think of DJs plans?