David Jones (department store)

David Jones Pty Ltd
	File:David Jones logo.svg Logo used since 2014
Company type	Private company (subsidiary)
Industry	Retail
Founded	1838; 188 years ago
Founder	David Jones
Headquarters	Richmond, Victoria, Australia
Area served	Australia, New Zealand
Key people	Iain Nairn (CEO)
Products	Luxury goods, department store products
Owner	Anchorage Capital Partners (since 2022)
Website	www.davidjones.com

David Jones Pty Ltd, operating under the brand name David Jones and often referred to as DJs, is a prestigious Australian department store specializing in luxury goods. Established in 1838 by Welsh entrepreneur and politician David Jones, it holds the distinction of being the oldest department store worldwide to continuously trade under its original name.

In 1980, control of the company shifted when the Adelaide Steamship Company acquired a majority stake, eventually completing a full takeover. The recession of the early 1990s led to David Jones Limited becoming a publicly listed entity. Throughout the next twenty years, the business encountered various hurdles, including discussions about merging with Myer and its 2014 purchase by South African retail giant Woolworths Holdings Limited. In 2016, Woolworths divested the iconic Market Street flagship store, established in 1938, and relocated David Jones' corporate headquarters to Richmond, Victoria. By December 2022, private equity firm Anchorage Capital Partners purchased David Jones for roughly $100 million.

From 1979 until 2004, David Jones was affiliated with the International Association of Department Stores.

As of 2024, David Jones operates a total of 39 outlets throughout most Australian states and territories, except for Tasmania and the Northern Territory. Its main rival in the upscale retail segment remains the larger chain Myer. Expanding beyond Australia, David Jones launched its inaugural New Zealand location in Wellington in July 2016 after acquiring Kirkcaldie & Stains, followed by a second store opening in November 2019 at Westfield Newmarket in Auckland.

History

Welsh merchant David Jones joined forces with Sydney businessman Charles Appleton, who had established a retail business in 1825. After relocating to Australia in 1835, Jones formed the partnership Appleton and Jones. This collaboration ended in 1838 when Jones moved operations to George Street and Barrack Lane. Despite enduring the economic downturn of the 1840s, he retired by 1856 but later returned to manage the company during financial difficulties, successfully settling all outstanding debts.

By 1887, the George Street location was reconstructed and began offering mail-order services. To lessen dependence on imports, a manufacturing facility was opened on Marlborough Street. After founder David Jones passed away, leadership passed to his son Edward Lloyd Jones (1844–1894). Edward Lloyd Jones Jr. (1874–1934) gained professional experience abroad in England and Queensland before rejoining following his father’s death in a train accident in 1894. The company remained privately held until it went public in 1906. Edward Jr. held the chairman position until 1921. Under chairman Charles Lloyd Jones’s direction, a flagship store on Elizabeth Street opened in 1927, followed by an outlet on Market Street in 1938 and a small branch within the Australia Hotel on Martin Place. In 1954, Queen Elizabeth II was hosted at the restaurant located inside the Elizabeth Street store.

Expansion into regional NSW and interstate markets

David Jones broadened its presence in New South Wales by acquiring Scott's on Hunter Street, Newcastle in 1957 (which closed in 2011), as well as Walter Lance and Co. in Wollongong in 1960. In 1971, the company transformed Big W outlets at Kotara Fair and Warrawong (the latter ceased operations in 1986). The Wagga Wagga location originated from the 1953 acquisition of David Copland and Co, but it was closed by 1971.

The company's entry into Victoria took place during the 1960s, culminating in the 1982 purchase of three Buckley & Nunn stores located at Bourke Street, Northland, and Chadstone (the latter shuttered in 1983). In 1987, David Jones acquired the former GJ Coles store at 299 Bourke Street, Melbourne, converting it into a David Jones outlet. Additionally, it owned the former Georges store on Collins Street from 1981 until 1995.

In South Australia, acquisitions included Charles Birks & Co (Adelaide) in 1954 and John Martin's (Adelaide) in 1985. Western Australia saw purchases such as Bon Marche (Perth) in 1954 (closed in 1979), Foy & Gibson in 1964 (closed by 1978), and Aherns (Perth) acquired in 1999. Expansion into Queensland involved buying Finney Isles (Brisbane) in 1955; McKimmons (Townsville) in 1960 (closed in 1994); T.C. Beirne (Brisbane) in 1961; Marsh and Webster (Mackay) in 1963 (closed by 1981); Boland's (Cairns) in 1963 (which was relocated before closing); Wyper Bros. (Bundaberg) acquired in 1972 (closed by 1981); and Stuparts (Maryborough) purchased in 1977 (closed by 1981).

United States

In 1974, David Jones entered the U.S. market through the acquisition of Buffum's, a chain consisting of twelve stores. These stores were later absorbed by Adelaide Steamship Company and had all closed by May 1991.

David Jones Art Gallery

Founded within the Elizabeth Street store in 1944, the David Jones Art Gallery elevated the company’s reputation by hosting exhibitions and collaborating with leading arts organizations such as the Australian Art Society and Society of Artists. Prominent directors included figures like Will Ashton and George Duncan. Notable showcases included works by William Dobell and the Mendel Collection of Modern Painting. During the 1960s and ’70s, the gallery also imported art from Southeast Asia, enhancing David Jones’ cultural standing alongside its retail business.

Dajonians Repertory Society

Throughout the 1930s and '40s, the Sydney branch supported the Dajonians Repertory Society—an amateur theatre troupe specializing mainly in light comedies penned by established playwrights such as J. B. Priestley. Performances took place both in the David Jones theatrette and venues like St James' Hall and Independent Theatre. The company employed permanent producers—Carl Francis during the '30s and Frederick Hughes starting from 1940—and was overseen by Sir Charles Lloyd Jones until his passing in 1958. By 1959, David Jones had grown to eight stores, with expansion concentrated on Sydney’s developing suburban areas.

1980–2000

In 1980, control of David Jones shifted away from family ownership when Adelaide Steamship Company, under John Spalvins, secured a majority stake. Throughout the ensuing decade and into the early '90s, both entities engaged in intricate cross-ownership arrangements and incurred substantial debt to acquire varied assets including Petersville Sleigh, Tooth & Co, and Penfolds.

The recession of the early '90s compelled creditors to demand repayments on loans, triggering forced asset sales that ultimately led to bankruptcy for both companies. Adelaide Steamship was renamed "Residual Assco Ltd" and removed from listing; meanwhile, David Jones Limited became "DJL". Valuable divisions were spun off through public offerings, notably National Foods, Woolworths, and its department store segment. In 1995, David Jones launched an $800 million initial public offering encompassing its retail operations along with John Martin stores. The reorganized David Jones Limited was listed on the Australian Securities Exchange using the ticker DJS.

Following this restructuring, internal organizational changes and cultural shifts contributed to stagnation and elevated employee turnover rates. Leadership transitions coincided with a decline in share value from an initial A$2 per share to lows near A$0.90 by the late '90s.

2000–2020

In 2000, David Jones made a return to Western Australia by transforming all five former Aherns department stores into David Jones locations situated in Karrinyup, Booragoon, Claremont, Rockingham, and the Perth CBD. Initially, only the Perth CBD outlet underwent refurbishment. Later, two additional stores were launched in Mandurah and Cannington, while expansion plans for Hillarys and Innaloo remained paused as of 2021, establishing David Jones as the leading department store chain in Western Australia.

After experiencing a $20 million loss in 2003, David Jones closed its Rockingham location, terminated the lease at Fountain Gate, and discontinued both its online retail operations and Foodchain gourmet food outlets. The company invested in revitalizing its key Sydney stores but faced challenges with stagnant sales and profits despite a surge in consumer spending and exclusive brand partnerships. Its share price fluctuated significantly, reaching highs above $4.50. The global economic downturn in 2009 contributed to a 6.4% drop in sales, amounting to $1.06 billion during the first half of that year.

CEO Mark McInnes stepped down in June 2010 following allegations of sexual harassment. Paul Zahra succeeded him and led substantial restructuring efforts alongside expanding the company’s digital presence until his announced resignation in October 2013. Nevertheless, Zahra maintained his position after receiving shareholder backing amid boardroom controversies involving insider trading accusations.

Between late 2013 and early 2014, Myer tabled a merger proposal with David Jones, forecasting combined pro forma sales of $5 billion and EBIT of $364 million, alongside potential annual cost savings of $85 million. Although David Jones’ board declined this offer, it entertained further acquisition bids from Myer valuing the business at approximately $1.7 billion.

In April 2014, Myer withdrew its pursuit after David Jones endorsed a cash offer of $4.00 per share from South African retailer Woolworths Holdings Limited, implying a market valuation near $2.15 billion. The Federal Court approved this takeover in July 2014. Despite Woolworths initially planning to retain CEO Zahra, he resigned in August due to strategic disagreements; Iain Nairn from Country Road then assumed leadership.

In July 2015, Woolworths South Africa purchased Wellington’s Kirkcaldie & Stains store, which was closed in 2016 and subsequently reopened on 28 July 2016 as David Jones’ inaugural New Zealand outlet; however, the brand’s online platform remains restricted to Australian customers.

Woolworths divested the historic Market Street property in 2016 but leased it back to David Jones until its closure in 2019. The nine floors dedicated to homewares, furniture, electrical goods, and menswear were consolidated into an expanded flagship location on Elizabeth Street, increasing retail space from eight floors to twelve.

2020–present

In March 2023, Australian private equity firm Anchorage Capital Partners acquired David Jones from Woolworths Holdings Limited at a price significantly lower than the initial 2014 acquisition cost. Anchorage’s investment portfolio includes notable Australian retail brands such as Burger King, Dick Smith, and Golden Circle.

By August 2023, David Jones unveiled Amplify, a retail media division aimed at generating additional revenue streams through advertising premium brands like Jaguar Land Rover, Destination Canada, and Regent Cruises to its customer base.

The retailer embarked on an extensive store optimisation and refurbishment initiative throughout 2023, committing substantial capital to modernise its locations. This effort features a $15 million enhancement of the flagship Bourke Street Mall store as well as refurbishments at Burwood, Bondi Junction, Chatswood Chase, and Southland stores—all targeted for completion by late 2025.

As part of its restructuring strategy focusing on flagship sites, David Jones permanently shuttered its Eastland Shopping Centre outlet in January 2024.

Executive Chairmen

David Jones, 1838–1868
Edward Lloyd Jones, 1868–1894
Edward Lloyd Jones, Jr., 1894–1921
Sir Charles Lloyd Jones, 1921–1958
David Lloyd Jones, 1959–1961
Charles Lloyd Jones, Jr., 1961–1980

Nonexecutive Chairmen

Dick Warburton, 1995–2003
Bob Savage, 2003–2013
Peter Mason, 2013–2014
Gordon Cairns, 2014–2016
Ian Moir, 2016–present

Chief Executive Officers

John Spalvins, 1980–1991
Rod Mewing, 1991–1994
Chris Tideman, 1994–1997
Peter Wilkinson, 1997–2002
Mark McInnes, 2002–2010
Paul Zahra, 2010–2014
Iain Nairn, 2014–2015
John Dixon, 2015–2017
David Thomas, 2017–2019
Ian Moir, 2019–2020
Scott Fyfe, 2020–present

Branding

The iconic black and white houndstooth pattern associated with David Jones ranks among Australia's most instantly recognisable corporate symbols. In a 2006 government survey, it was rated as one of the top ten preferred trademarks nationwide. This distinctive design traces back to a rebranding initiative in 1967 spearheaded by Charles Lloyd Jones, Jr., who drew inspiration from the houndstooth motif on a Miss Dior perfume bottle owned by his mother. On July 25, 2016, the company unveiled a refreshed logo featuring a modernized typeface and eliminated houndstooth elements from its digital presence.

Over the years, David Jones has employed memorable slogans to articulate its market identity. These have included "For Service" during the 1960s; "There's no other store like David Jones" throughout the 1980s and 1990s; "The most beautiful store in the world" also in the 1980s; "Was. Is. Always" in the 2010s; "'Live an extraordinary life" between 2014 and 2016; and since 2016, "One name: endless possibilities."

Celebrity endorsements have played a pivotal role in shaping David Jones' promotional campaigns. Prominent figures such as Maureen Duval represented the brand in the late twentieth century, while models including Megan Gale, Miranda Kerr, and Jessica Gomes served as ambassadors in more recent decades. Kerr was associated with the brand from 2008 until 2013 before being succeeded by Gomes. Other notable personalities featured in marketing efforts include Liz Hurley and Kim Cattrall.

David Jones maintains five food halls that are integral to its emphasis on quality and style, although these venues have occasionally faced criticism. The Foodchain concept—a smaller, standalone food hall venture—proved unprofitable and was divested in 2003. In July 2016, renowned chef and restaurateur Neil Perry was appointed as a consultant to enhance the Food Halls’ product range, presentation standards, and customer service.

Stores

David Jones has department stores located in every Australian capital city except for Hobart and Darwin. Additional outlets are found in regional centres such as Kotara, Tuggerah, Maitland, Wollongong, Maroochydore, Robina, and Broadbeach Waters.

The majority of stores are positioned within central business district retail precincts or enclosed shopping centres. In 2007, under CEO Mark McInnes’s leadership, David Jones realigned its property strategy to focus on "low-risk, high-value locations." This shift led to closures of stores at Sydney's Bankstown Central (July 2007) and Westfield Eastgardens (October 2007), which were subsequently replaced by Myer outlets. Conversely, David Jones acquired Myer's location at Westfield Burwood in May 2007 and launched new stores at Westfield Chermside (August 2007) and Brisbane's QueensPlaza (February 2008). The Bourke Street stores in Melbourne underwent a $250 million refurbishment completed by mid-2010.

In January 2008, the Claremont store closed for a comprehensive redevelopment and reopened in 2011 with an expanded floor area increased by approximately sixty percent. A fashion-oriented store format debuted in Malvern, Victoria, in September 2013. Following this were openings at Indooroopilly Shopping Centre in Brisbane (May 2014) and Macquarie Centre in Sydney (October 2014), coinciding with the arrival of international brands such as H&M and Zara at those locations.

In March 2016, Woolworths South Africa—then owners of David Jones—declared plans to sell the nine-story Market Street Sydney store. Its departments were merged into an enlarged Elizabeth Street store that expanded from eight to twelve floors; the Market Street location ceased operations in March 2020.

A three-store expansion plan for Western Australia was announced in February 2017 targeting Westfield centres at Carousel, Innaloo, and Whitford City. The first of these opened at Westfield Carousel in August 2018; however, openings for the other two sites were postponed or cancelled. Additional new stores commenced operations in March 2018 at Stockland Green Hills (East Maitland, NSW) and Mandurah Forum Shopping Centre (WA).

In July 2020, David Jones sold its Melbourne Menswear, Home & Food building at 299 Bourke Street; all departments were consolidated into the refurbished main store at 310 Bourke Street by July 2022. The Food Hall permanently closed during the COVID-19 lockdown in April 2021 with select offerings relocated to level five of the primary building. Late in 2022, plans were announced for closing the Westfield Mt Gravatt store after more than five decades of operation.

The Wellington branch in New Zealand shuttered on June 12, 2022, leaving only the Westfield Newmarket store operational within New Zealand.

As of May 2025, David Jones maintains a total of forty stores across Australia and New Zealand:

ACT: two stores
New South Wales: fifteen stores
Queensland: seven stores
South Australia: three stores
Victoria: seven stores
Western Australia: five stores
New Zealand: one store

Loyalty program

David Jones operates a customer loyalty initiative known as David Jones Rewards, which boasts a membership exceeding 2.4 million, positioning it among the most extensive retail loyalty schemes in Australia.

External links