{"id":835496,"date":"2026-07-31T11:23:13","date_gmt":"2026-07-31T11:23:13","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/835496\/"},"modified":"2026-07-31T11:23:13","modified_gmt":"2026-07-31T11:23:13","slug":"popular-australian-underwear-stores-bonds-bras-n-things-sold-to-billionaire-in-700-million-deal","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/835496\/","title":{"rendered":"Popular Australian underwear stores Bonds, Bras N Things sold to billionaire in $700 million deal"},"content":{"rendered":"

Some of Australia\u2019s<\/a> most popular underwear and homewares brands are heading back into the hands of retail billionaire<\/a> Brett Blundy after he struck a $700 million deal to buy Bonds, Bras N Things, Berlei and Sheridan.<\/p>\n

The acquisition comes after the brands were put up for sale following Hanesbrands\u2019 merger with Canadian clothing<\/a> brand Gildan Activewear.<\/p>\n

\"\"<\/p>\n

Brett Blundy has bought Bonds, Bras N Things, Berlei and Sheridan in a $700 million deal.\u00a0Bonds.com.au<\/p>\n

Gildan confirmed the sale to Blundy\u2019s firm, BBFIT Investments, when releasing its second-quarter results.<\/p>\n

\u201cThe transaction is expected to close in the second half of 2026, subject to the receipt of required regulatory approvals and customary closing conditions,\u201d it said.<\/p>\n

\u201cProceeds from the transaction will be used to pay down a portion of the company\u2019s outstanding debt.\u201d <\/p>\n

Valued at $700 million including debt, the deal brings Blundy back to the business where his retail success began.<\/p>\n

He built Bras N Things after buying three franchised Bra Shop stores in the early 1980s, eventually turning the chain into a national retailer before selling it to Hanesbrands for about $500 million in 2018.<\/p>\n

Now, the billionaire is back at the helm of the lingerie chain, along with Bonds, Berlei and Sheridan.<\/p>\n

\u201cThe opportunity to own such iconic brands as Bonds, Sheridan, Bras N Things and Berlei is a great moment for me,\u201d Blundy told\u00a0The Australian Financial Review<\/a>. <\/p>\n

\u201cI look forward to riding the next chapter of growth with these great brands, their teams and our many retail partners.\u201d<\/p>\n

\"\"<\/p>\n

Brett Blundy.\u00a0Louise Kennerley<\/p>\n

nine.com.au has reached out to Blundy for further comment.<\/p>\n

More than 500 stores operate under the four companies, with products also sold through major retailers including Myer<\/a>, David Jones<\/a> and Big W.<\/p>\n

The businesses generate about $1 billion in annual sales and around $80 million in earnings.<\/p>\n

Hanesbrands inherited Bonds, Berlei and Sheridan when it acquired Pacific Brands for $1.1 billion in 2016.<\/p>\n

It expanded its Australian lineup two years later by purchasing Bras N Things before the portfolio ultimately came under Gildan\u2019s ownership in August 2025.<\/p>\n

After completing that merger, Gildan reviewed its Australian operations and decided to sell the collection of local brands.<\/p>\n

Blundy, whose wealth is estimated at about $4 billion by the Australian Financial Review Rich List, has continued investing in retail since selling Bras N Things.<\/p>\n

\"Stylist<\/p>\n

Blundy has snapped up Sheridan, an iconic lifestyle and homewares brand founded in Hobart in 1967.\u00a0Supplied<\/p>\n

He\u2019s chairman of jewellery retailer Lovisa, bought into Queensland<\/a> fashion label Dissh, took Best & Less private with business partner Ray Itaoui, and launched lingerie brand Leays last year.<\/p>\n

His investment company, BBRC Worldwide, is also one of the largest shareholders in Victoria\u2019s Secret<\/a> \u2013 where he tried and failed to replace the board chair earlier this year.<\/p>\n","protected":false},"excerpt":{"rendered":"Some of Australia\u2019s most popular underwear and homewares brands are heading back into the hands of retail billionaire…\n","protected":false},"author":2,"featured_media":835497,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[64,63,99],"class_list":["post-835496","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-au","tag-australia","tag-business"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/835496","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=835496"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/835496\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/835497"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=835496"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=835496"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=835496"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}