Leading designer succumbs to retail gloom
Leading Australian fashion designer Alex Perry is the latest to succumb to the retail downturn plaguing the national sector.
His flagship store in Sydney's glitzy Strand Arcade will shut its doors in March as the business operation gives up on bricks and mortar and shifts its focus to online.
Mr Perry told The Daily Telegraph digital sales were nearly four times greater on the web than his only physical store.
"Why would I renew that lease for another three, four, five years when it is far more economical and we make a lot more money online that what we do with all the expenses you incur when you have bricks and mortar," he said.