Post by SMART FASHION COUNCIL

DAVID JONES NAMES ITS FIRST-EVER FEMALE CEO IN 188 YEARS Erica Berchtold has been promoted to Chief Executive Officer of David Jones, succeeding Scott Fyfe — and becomes the first woman to hold the role in the Melbourne retailer's 188-year history. Berchtold was Chief Commercial Officer, overseeing supply chain for the past 12 months. Before David Jones: Australian e-commerce platform The Iconic, and managing director of sporting goods retailer Rebel Sport — a background spanning e-commerce, digital transformation, and brand curation. Her mandate, per the company: "sharpening and accelerating the execution of the company's five-year Inspire 30 transformation plan," including operating model improvements for cost efficiency, enhancing the commercial portfolio for better margins and brand strength, and reigniting the David Jones brand through customer offering and store network. Berchtold: "The refinancing allows us to stabilise and reset the business with a strong focus on growing our strategic core and modernising our technology and digital platforms. My aim is to further improve customer experience by curating our brand so that our strategy is aligned with our core values and the needs of our customers. I plan to lead our incredible team of people with decisive and results-oriented action." The appointment lands alongside a new three-year, asset-backed lending facility with Hilco — strengthening the balance sheet and giving the company financial flexibility to support growth initiatives and supplier partnerships, according to David Jones, which was acquired by Anchorage Capital Partners in 2023. The numbers behind the urgency: David Jones swung to a $95 million loss in 2025 as cost-of-living pressure softened demand for luxury clothing and accessories. Sales fell 8.7% to $2 billion over the 12 months. A first-ever female CEO, a fresh financing facility, and a five-year transformation plan needing acceleration — the same combination of operational discipline and balance-sheet repair running through this week's other department store stories, from Saks Global's emergence as Exemplar Luxury Group to El Corte Inglés' fifth CEO in five years. The global clothing sector is down 63% in Bitcoin terms since April 2023. $10K in the fashion basket: $9,730 today vs $17,400 (S&P 500), $26,510 (Bitcoin), $23,170 (gold) - https://lnkd.in/gBAp8s_h 🏎️ Join the SMART FASHION COUNCIL Connect with like-minded builders, access real-time insights on how AI creates new layer value: https://lnkd.in/gBAp8s_h #ai #chrematistics #fashion #crypto #blockchain #innovation #defi #vc #angel #smart