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The Vegemite of Australian fashion, underwear maker Bonds, is back in Aussie hands, after a local buyout from its Canadian owner.
Homegrown retail king Brett Blundy has paid $700-million to bring Bonds back home, from North American clothing giant Gildan.
The deal also includes bedding brand Sheridan, bra-maker Berlei and lingerie chain Bras ‘N’ Things, which Blundy started in the 1980s.
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Bonds and Berlei are some Australia’s oldest brands, both founded in Sydney in the early 1900s. Sheridan launched in Hobart in 1967.
The combined brands have more than 500 stores across the country with annual sales of around a billion dollars.
Blundy is one of Australia’s most successful retailers, founding jewellery giant Lovisa.
He also has significant stakes in Best & Less and Victoria’s Secret.
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French (CA)