The Iconic launches new range for kids
The Iconic on Tuesday launched a new kidswear range, adding another category to its expanding offering.
The offering includes over 70 local and international kidswear brands for baby (0-2), kids (2-7) and teens (8-14), and features boys, girls and unisex clothing, shoes and accessories.
Some of the featured brands include Cotton On Kids, Bardot Junior, Gap, Adidas, Rock Your Baby, Huxbaby, Purebaby and J.Crew’s Crewcuts.
The Iconic CEO Patrick Schmidt said he expects parents to respond to the company’s convenient delivery options.
“Our customers lead incredibly busy lives and shopping for kidswear in-store on a Saturday is undoubtedly the last thing they want to do with their free time,” he said.
“With orders delivered in as little as three hours in Sydney and next day for most other parts of Australia, The Iconic Kids is just another way we’re living up to our promise of creating the most seamless and inspiring shopping experience for our customers.”
The moves follows similar forays into sportswear, luxury and maternity, which have enabled The Iconic to reach new customers and capture more purchases from existing customers.
With Australia’s $3.6 billion kidswear market expected to grow 1.3 per cent annually through 2020-21, The Iconic is targeting the space as a key opportunity to bolster its position as a leading online fashion player.
The pureplay fashion retailer recorded $267.8 million in sales and said it was cash flow positive at the end of 2017, according to an account filed with ASIC earlier this year.
Since launching in Australia in 2011, The Iconic has accumulated losses of $152.6 million and continues to rely on parent company Global Fashion Group for funding.
However, it is seeking to reach profitability this financial year.