Peter Alexander worth $999m or $1.6b, depending on who you ask
Peter Alexander, the Premier Investments-owned sleepwear brand targeting an overseas expansion is worth between $999 million and $1.59 billion, according to investment bank analysts working to place a valuation on the business ahead of a potential spin-off and ASX listing.
But the brokers say Peter Alexander could have a difficult time making inroads overseas – it plans to sell online in 35 countries from next month and open its first store in the United Kingdom next year – because it is an “unproven” brand outside of Australia and New Zealand.
Peter Alexander is owned by Premier Investments, and is planning an overseas expansion. Louie Douvis
Premier, controlled by billionaire businessman Solomon Lew, is considering floating Peter Alexander and Smiggle, the stationary chain, separately to its other retail business which include Just Jeans, Jay Jays and Portmans.
Following Premier’s full-year results last week, Goldman Sachs’ Lisa Deng told clients that Peter Alexander was worth $999 million. E&P analyst Phil Kimber estimated the sleepwear chain was valued at $1.4 billion.
Unified Capital Partners analyst Jonathan Higgins was more bullish still, putting Peter Alexander’s valuation at some $1.59 billion.
Ms Deng said there was potential for Premier if it managed the offshore expansion astutely, although it was during more difficult economic times. “Premier has expanded globally in the past with mixed success,” she said.
On Peter Alexander, Ms Deng said it was a business where sales expanded during the COVID-19 pandemic as work-from-home and higher online spending benefited the sale of sleepwear. “Premier Investments remains exposed to discretionary consumption categories including those like sleepwear which were COVID
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