An established and successful fashion and homeware store that is highly active in face-to-face retail and has the support of an online store clothing is now on the market for sale.
The business known as DECODE Ltd - located at 13 Camp Street in the heart of Queenstown’s central business district retail precinct – has been operating for 14 years.
Clothing is the core product of the store, with a high turnover rate of stock. The curation of selected homewares, jewellery, soft furnishings, and accessories has created a unique experience for customers. DECODE’s clientele is predominantly woman aged between 35 – 65-years-old.
Responding to demand from clients based in and around the Otago region, greater New Zealand and a growing international clientele, DECODE launched its online store at the end of 2017. The online store currently processes 3.5 sales per week.
Over the years, DECODE founder Maree Cross has built a brand profile of her retail store through networking and some advertising, but mostly through meeting the needs of her clients with excellent customer service partnered with unique and quality product.
DECODE has always been active in the community. For many years it was a major supporter of the famous Queenstown Winter Festival. DECODE has always contributed to community fundraising projects and philanthropic projects – both short and long-term. In 2015 DECODE was encouraged to enter the NZ Retail Awards, and was runner-up in the Best independent Store category.
The business employs a full-time owner/operator and five part-time staff. DECODE
tenants a 144 square metre town centre premises, and is currently on a year lease running through to 2021 - with two further six-year rights of renewal maturing in 2033. The landlords are extremely established in commercial real estate and are excellent to work with,
Now the DECODE business is being marketed for sale as a going concern by deadline private treaty through Bayleys Auckland and Bayleys Queenstown, with offers closing at 4pm on March 6.
Bayleys Auckland business brokers Paul Dixon and Caroline Hanson said DECODE ran its retail operations six days a week from 10am – 6pm. And between 10am and 5pm on Sundays.
“DECODE has made the transition from being purely a physical trading entity with a prominent location in the heart of bustling Queenstown, to embracing on-line trading as an adjunct to its business,” Mr Dixon said.
“The online store has been operational for just over a year and contributes to the shop’s annual turnover which exceeds $1.2 million – delivering a healthy bottom line,” added Mr Dixon.
“The ethos of the store has been to create an authentic, pleasurable and relaxed retail experience for clients. By providing a selective range of clothing blended with jewellery, homeware and desirable accessories, DECODE has not only added value to the client’s experience, but has also increased revenues. Stock is beautifully showcased in a visually and spatially-pleasing environment.
“Street frontage and exposure to the market is extremely sought-after in Queenstown, and DECODE has secured a very high-profile position.”
Ms Hanson said the store offered an alternative to the mass-produced high street fashion labels. She said garments were sourced from both international and New Zealand designers – some of which were still manufactured in New Zealand, which was a rarity these days.
“The product is of high quality in both design integrity and production. The European brands offer fashion forward collections and textiles that have limited availability in New Zealand,” Ms Hanson said.
“The new owner will most likely have an interest in women’s’ fashion and home styling, however the running of the business can be learnt. DECODE founder and current owner Maree Cross is available to assist any new owner through the
transition period, and will support and mentor them for an agreed period of time – giving them the greatest opportunity to continue thriving,” she said.
“There is the opportunity for a new owner to grow and expand both the retail and on-line stores or concentrate on one aspect of these. The store is constantly approached by up-and-coming designers and new brands, so there is potential to develop product further.
“As the current owner is now looking to retire, DECODE Ltd is on the market for sale.”