Betts, Stax, Depop's Fee War & the Accent Group Takeover

We're on the other side of EOFY and into the thick of H2 — and Australian retail served up one of its messiest weeks in a while. Two heritage-adjacent brands hit crisis on the very same day, a resale platform war escalated, and a two-year-old takeover saga added another wrinkle, all while Myer and T2 quietly proved that some operators are still finding real growth in this market.

The standout story is the Betts and Stax double: on the same day, Betts entered a managed restructure — closing 20 of its remaining 35 stores and pivoting hard to online — while Stax entered receivership and is now in a rushed fire sale, reportedly triggered by a disgruntled major creditor. One is a 134-year-old retailer trying to right-size before it's too late; the other is a five-year-old DTC brand that's been unprofitable for three-plus years and is now drowning in unfulfilled pre-orders and refund complaints. Same week, same headlines, very different stories underneath.

• Country Road Group made MD Helen Wright redundant after just 18 months, splitting the role into a Chief Product Officer and a GM of Apparel & Accessories (Shani Delargy) — a structural signal, not just a personnel change.
• Myer added 25,000 products to its marketplace, with marketplace sales up 41% in FY25 and 80% of marketplace shoppers also buying Myer's own stock.
• T2 turned 30 with EBIT up 20% year-on-year, proof that retail theatre and premium packaging can still win in the most commoditised category imaginable.
• US Prime Day pushed online spend to $26.4bn (+9.3% YoY) with BNPL up 9.5%, while adult women drove real growth in the toy category — Lego, plush toys and collector cards, not just kids' stuff.
• Betts entered a managed restructure (20 of 35 stores closing) and Stax entered receivership on the same day, with Stax now in a fast-tracked fire sale after years of unprofitability.
• Depop is scrapping its 10% AU seller fee from 22 July after Vinted's zero-fee Australian launch — a genuine seller win, or a defensive land-grab to lock in supply before the competitive dust settles.
• The Accent Group takeover saga rolled on, with Frasers selling its Malaysian Sports Direct business to MAP Active to fund its $0.65-a-share bid for Accent, which the company's independent board committee has rejected as undervalued.

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