Key Points
- Bangladesh-based companies have been doing business with Mosaic Brands for several years.
- Experts say Mosaic Brands struggled in retail due to rising competition from online ‘fast fashion’ outlets including Temu and Shein.
- FTI Consulting has been appointed as administrator, while KPMG will act as receiver and manager.
Mosaic Brands Limited is one of Australia’s largest fashion retail groups. Its ‘fast fashion’ — inexpensive, low-quality clothing which mimics high-end brands and styles — labels include Millers, Rockmans, Noni B, Rivers, Katies, Autograph, W Lane, Crossroads and Beam.
According to Bangladesh Garments Manufacturer and Exporters Association (BGMEA) sources, 23 Bangladeshi exporters are affected as the company…
