Popular Queenstown boutique for sale
Fashion and homeware store DECODE Ltd is for sale following 14 years of trade in the thriving Queenstown central business precinct. Bayleys Auckland business brokers Paul Dixon and Caroline Hanson are selling the independent operation, which was runner-up in the Best Independent Store category of the 2015 NZ Retail Awards.
Popular with tourists and locals, the business — which runs from leased premises — is to be sold deadline private treaty, through Bayleys Auckland and Bayleys Queenstown, with offers closing at 4pm on March 6.
The agents says its core activity is selling high-turnover fashion garments, however the expert curation of homeware, jewellery, soft furnishings and accessories has also built up a strong following among customers — mainly woman aged between 35-65.
“Our client, Queenstown business identity and longtime supporter of her community, Maree Cross, now plans to retire — though we understand that she could be persuaded to show a new owner the ropes if required,” says Dixon.
Cross built the store’s brand profile through networking and some advertising, but mostly through meeting the needs of her clients with customer service partnered with unique and quality products.
She also launched Decode’s online store at the end of 2017.
The CBD business operates within a 144sq m town centre premises, at 13 Camp St. The lease runs through to 2021, with two further six-year rights of renewal maturing in 2033.
“The landlords are extremely established in commercial real estate and are excellent to work with,” says Dixon.
“Decode has made the transition from being purely a physical trading entity with a prominent location in the heart of bustling Queenstown, to embracing on-line trading as an adjunct to its business.
“The online store has been operational for just over a year and contributes to the shop’s annual turnover which exceeds $1.2 million — delivering a healthy bottom line.
“The ethos of the store has been to create an authentic, pleasurable and relaxed retail experience for clients. Stock is beautifully showcased in a visually and spatially-pleasing environment.
“Street frontage and exposure to the market is extremely sought-after in Queenstown, and Decode has secured a very high-profile position.”
Hanson says the store offered an alternative to the mass-produced high street fashion labels. Garments are sourced from international and New Zealand designers — some being still manufactured in New Zealand, which was a rarity these days.
“The product is of high quality in both design integrity and production. The European brands offer fashion forward collections and textiles that have limited availability in New Zealand,” Hanson says.
“The prospective new owner will most likely have an interest in women’s fashion and home styling, however the running of the business can be learnt.
“Decode founder and current owner Maree Cross is available to assist any new owner through the transition period, and will support and mentor them for an agreed period of time – giving them the greatest opportunity to continue thriving,” Hansen says.
“There is the opportunity for a new owner to grow and expand both the retail and on-line stores or concentrate on one aspect of these. The store is constantly approached by upand-coming designers and new brands, so there is potential to develop product further.”