Billionaire Solly Lew, Chairman of Premier Investments, is reportedly looking to acquire a stake in Myer Holdings after selling several of Premier’s brands to the department store earlier this year. Street Talk understands that an unidentified party, believed to be Lew, was attempting to purchase up to 3 per cent of Myer on Monday. However, it remains unclear whether the acquisition was successful.
Premier Investments, led by retail magnate Solly Lew, houses a portfolio of iconic Australian brands. The company focuses on owning, developing, and operating retail businesses across apparel, footwear, and accessories. Myer Holdings is one of Australia’s largest department store chains, offering a wide range of products, including fashion, homewares, and beauty items.
The sale of Premier Investments’ Just Jeans, Dotti, Jay Jays, and Portmans brands to Myer earlier this year was perceived by many as a favourable deal for Lew. This potential acquisition of Myer shares suggests Lew may see further opportunities within the department store, despite previous transactions. The market will be watching closely to see if Lew’s interest translates into a significant shareholding and what his intentions are for the company moving forward.
