David Jones (4)

Biography

David Jones Pty Ltd, trading as David Jones (colloquially DJs), is an Australian upper mid range department store. It was founded in 1838 by David Jones, a Welsh merchant and future politician, after he emigrated to Australia, and is the oldest continuously operating department store in the world still trading under its original name. In 1980, the Adelaide Steamship Company acquired a substantial interest in David Jones, culminating in a complete takeover. The recession of the early 1990s caused the department store assets to be floated as "David Jones Limited". For the next two decades, the company went through turbulent times, eventually leading to discussions of a merger with Myer, and then, in 2014, a takeover by South African retail group Woolworths Holdings Limited. In 2016, Woolworths sold the iconic 1938 Market Street store and announced the relocation of David Jones' head office to Richmond, Victoria. In December 2022, David Jones was sold to private equity firm Anchorage Capital Partners for approximately $100m. It was a member of the International Association of Department Stores from 1979 to 2004. David Jones Limited currently has 39 stores located throughout most of the Australian states and territories (except Tasmania and the Northern Territory). David Jones' main competitor is the larger department store chain Myer. On 28 July 2016, David Jones opened its first New Zealand store in Wellington after buying Kirkcaldie & Stains, and on 21 November 2019, opened its first Auckland store in the newly developed Westfield Newmarket.

Bio from Wikipedia