Fashion business ready for new owner
A fashion store that has been dressing New Zealand women for 27 years is for sale.
Browns, at Eastridge shopping centre, in Auckland, offers new and existing brands, some made in New Zealand.
The brands have been at the heart of the store’s longevity and success. The owner's dub it “slow fashion” in response to the “fast fashion” movement.
Women, from teenagers to those in their 90s, are customers at Browns, in an industry where trends change every month.
As far as owners Bob and Lyn Bilkey and their daughter Kirsten Lloyd are concerned, there are no trends — in their one-stop shop for style and fashion it’s about what suits an individual.
The business was established on Remuera Rd in 1992 by the Bilkey's, who also owned jewellery retailer Bilkey & Co. They bought the shop next door and established Browns at a time when there were few fashion outlets in Remuera.
Nearly three decades later retirement and new ventures beckon and the Bilkey's are handing over the reigns to a new owner.
The property is being marketed for sale by negotiation through Bayleys Auckland business salesperson Carolyn Hanson.
Hanson said while Browns business is about fashion, a large part of it is about building confidence in women and providing it through exceptional service.
“This stems from genuinely wanting to help people — and that is not a fashion or trend,” Mrs Bilkey said.
“People leave feeling good, which is a major drawcard and why the business has thrived and survived, when many others have failed.”
The 114sq m store is at the entrance to Eastridge shopping centre, with the lease running until 2025 at yearly rent of $86,025 plus GST.
Rent increases annually by the rate of CPI growth over the previous year, and at the right of renewal dates the rent is set at whatever is the greatest — market or existing rent plus CPI growth.
There are only two fashion outlets at Eastridge and the lease prohibits the establishment any other clothing stores.
New restaurant The Eatery has opened next door to Browns, while two new apartment blocks have opened across the road.
The Bilkey's attribute the business's rise in turnover to the new apartments and restaurant.
Hanson said the store is open seven days a week and could be operated by owner/owners for four days and existing staff for the other three days.
“Under this model staff wages would come to about $30,000 a year,” she said.
Keeping the store well stocked with current and classic pieces from core suppliers has been a key ingredient to the longevity of the business.
Caroline Sills has been a constant at Browns, the Bilkey's having stocked the label since the Remuera shop opened. On the racks and shelves are also Scotch & Soda, Diesel, Blank NYC, Standard Issue, Woodward, Smith, Isaac & Lulu and the popular Browns label.
A few years after opening, the Bilkey's saw the need to launch their own Browns brand to give the business stability with a higher mark-up for their own clothing and provide basic pieces to go with the other brands.
Simple stylish black jackets, shirts, knitwear, silk slips complete a customer's outfit and look. “Our label fills the gaps,” Mrs Lloyd said.
Buying trips to mainly Las Vegas trade shows, Hong Kong and Los Angeles have generally been done by the family twice a year. “That's the fun bit,” Mrs Bilkey said.
“I even manage to do a little bit of vintage and antique buying at the same time and this gives the shop an eclectic feel,” she said.
Designing the Browns label and merchandising the store are Mrs Lloyd's passion and areas of expertise. “However, a new owner could select a buyer or designer if they are a little daunted at the beginning and we can also help or advise,” she said.
Mrs Lloyd and her sister Jenefer have been involved in family business their entire working lives. Both worked in Browns while at university.
Jenefer bought the Browns eatery and store on Remuera Rd, which was part of the family business, and Mrs Lloyd stayed with fashion.
When the Remuera R d building was sold the Remuera shop was amalgamated into the Eastridge branch of Browns. The caf is still on Remuera Rd.
“The business has grown up and flies on its own,” Mrs Bilkey said.
“We have stepped back over the past six months as we prepare to retire from the business and it has been run efficiently and well by the existing staff.
“We love what we have created and it has been a real privilege to have a business like this.
“The gift it has given us as owners has been travel, time with family and a work/life balance few people achieve.”