“I am proud to be handed the baton from Mr Ballentyne to carry on in these locations.”
The expansion is the brand’s largest in more than 10 years, increasing the total number of stores nationwide to 44 and extending its presence into the lower North Island, Wellington and Nelson.
Ballentynes Fashion Central is closing after more than 50 years. Photo / Google Maps
More than 50 jobs will be preserved by the move, with Caroline Eve’s workforce growing to 200 employees nationwide.
“We are delighted to secure job continuity for over 50 retail staff, whom we warmly welcome into the Caroline Eve family,” Mundy said.
The takeover builds on a relationship between the two retailers that goes back four decades, with Caroline Eve and Ballentynes having operated as part of the same buying group.
Both brands were able to maximise their buying power and offer competitive pricing through the arrangement.
Mundy said Caroline Eve would retain that advantage as it expands, while the larger network would also spread business costs and improve efficiency.
“This acquisition represents a significant milestone for our business,” she said.
“Retail is a challenging industry, but expanding our store network gives us the scale and operational efficiencies needed to continue serving our loyal customers across New Zealand.”
The retailer will be supported by a distribution centre near Hamilton Airport, with all 44 stores serviced by the purpose-built Waikato facility.
Former Ballentynes customers will be able to continue using gift cards and buying existing stock online for the next six months.