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Mosaic Brands
Mosaic Brands Limited, formerly known as Noni B Limited was an Australian fashion retail company. It operated 715 stores across Australia under the brands Millers, Rockmans, Noni B, Rivers, Katies, Autograph, Crossroads, W. Lane and Beme, most of which got from acquisitions namely of the portfolio of City Chic Collective. The company's core market was women over the age of 50.
In 2024 it was placed into voluntary administration with administrators appointed from FTI Consulting and receivers and managers from KPMG after not gaining approval on an emergency restructure. It announced it would wind down the Rockmans, Autograph, Crossroads, W.Lane and Beme brands, with receivers later winding down the Katies brand as part of extended store closures, followed by the Rivers brand. It then announced that Mosaic Brands would be placed into effective total liquidation with the permanent closure of remaining brands Millers and Noni B. All remaining stores would have closed around late April, and their websites went offline on 16 March, after the sale of any of the brands was reportedly unsuccessful.
Secured creditors are reported to able to be paid in full, with the government fast-tracking employees, with uncertainty and possible legal proceedings for other creditors.
Mosaic Brands began as Noni B, a store in Belmont, New South Wales founded by Noni Broadbent. Blacktown Croatian refugee Alan Kindl had been a stockfeed chemist and was seeking a career change. When the opportunity came up in 1977, Kindl partnered with a friend to buy the fashion boutique and another store nearby.
By 1989, there were 38 Noni B stores in New South Wales and Victoria. Kindl's friend wanted to leave the business so Kindl purchased his stake in the company for $1.2 million. In 2000, Noni B listed on the Australian Securities Exchange.
In 2003, Noni established Liz Jordan, a new brand aimed at younger, more upmarket customers. Liz Jordan products were sold in dedicated stores and in many Noni B stores. Although Noni B planned on moving upmarket with Liz Jordan, its products struggled to command higher prices because they were sold in Noni B stores. In August 2006, Noni B launched a new concept called La Voca, aimed at a similar demographic to Liz Jordan but with greater separation from Noni B. At the same time, the company closed its Liz Jordan stores, rebranding them as Noni B or La Voca stores. Liz Jordan products continued to be sold in Noni B stores. In June 2008, Noni shut down the loss making La Voca venture. About half of the 19 La Voca stores were rebranded to Noni B stores.
In September 2014, private investment firm Alceon Group attempted a takeover of Noni B. The Kindl family sold their 42 per cent stake in Noni B to the firm. However, Alceon was blocked from taking the company private when Gannet Capital acquired a 12 per cent stake in Noni B. In November 2014, Scott Evans was appointed CEO of Noni B. In December 2014, Noni B bought two brands—Queenspark and Events—for $675,000.
In August 2016, the company purchased Pretty Girl Fashion Group from Consolidated Press Holdings for at least $75 million in cash and shares. Pretty Girl Fashion Group had around 370 stores under the brands Table Eight, Rockmans, BeMe, and W. Lane. In July 2018, Noni B purchased five brands—Autograph, Crossroads, Katies, Millers and Rivers—from Specialty Fashion Group for $31 million.
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Mosaic Brands
Mosaic Brands Limited, formerly known as Noni B Limited was an Australian fashion retail company. It operated 715 stores across Australia under the brands Millers, Rockmans, Noni B, Rivers, Katies, Autograph, Crossroads, W. Lane and Beme, most of which got from acquisitions namely of the portfolio of City Chic Collective. The company's core market was women over the age of 50.
In 2024 it was placed into voluntary administration with administrators appointed from FTI Consulting and receivers and managers from KPMG after not gaining approval on an emergency restructure. It announced it would wind down the Rockmans, Autograph, Crossroads, W.Lane and Beme brands, with receivers later winding down the Katies brand as part of extended store closures, followed by the Rivers brand. It then announced that Mosaic Brands would be placed into effective total liquidation with the permanent closure of remaining brands Millers and Noni B. All remaining stores would have closed around late April, and their websites went offline on 16 March, after the sale of any of the brands was reportedly unsuccessful.
Secured creditors are reported to able to be paid in full, with the government fast-tracking employees, with uncertainty and possible legal proceedings for other creditors.
Mosaic Brands began as Noni B, a store in Belmont, New South Wales founded by Noni Broadbent. Blacktown Croatian refugee Alan Kindl had been a stockfeed chemist and was seeking a career change. When the opportunity came up in 1977, Kindl partnered with a friend to buy the fashion boutique and another store nearby.
By 1989, there were 38 Noni B stores in New South Wales and Victoria. Kindl's friend wanted to leave the business so Kindl purchased his stake in the company for $1.2 million. In 2000, Noni B listed on the Australian Securities Exchange.
In 2003, Noni established Liz Jordan, a new brand aimed at younger, more upmarket customers. Liz Jordan products were sold in dedicated stores and in many Noni B stores. Although Noni B planned on moving upmarket with Liz Jordan, its products struggled to command higher prices because they were sold in Noni B stores. In August 2006, Noni B launched a new concept called La Voca, aimed at a similar demographic to Liz Jordan but with greater separation from Noni B. At the same time, the company closed its Liz Jordan stores, rebranding them as Noni B or La Voca stores. Liz Jordan products continued to be sold in Noni B stores. In June 2008, Noni shut down the loss making La Voca venture. About half of the 19 La Voca stores were rebranded to Noni B stores.
In September 2014, private investment firm Alceon Group attempted a takeover of Noni B. The Kindl family sold their 42 per cent stake in Noni B to the firm. However, Alceon was blocked from taking the company private when Gannet Capital acquired a 12 per cent stake in Noni B. In November 2014, Scott Evans was appointed CEO of Noni B. In December 2014, Noni B bought two brands—Queenspark and Events—for $675,000.
In August 2016, the company purchased Pretty Girl Fashion Group from Consolidated Press Holdings for at least $75 million in cash and shares. Pretty Girl Fashion Group had around 370 stores under the brands Table Eight, Rockmans, BeMe, and W. Lane. In July 2018, Noni B purchased five brands—Autograph, Crossroads, Katies, Millers and Rivers—from Specialty Fashion Group for $31 million.