Pac Brands’ turnaround plan

Pacific Brands chief, John Pollaer, has unveiled an ambitious turnaround strategy for the $700 million clothing and textiles. Resource

Addressing several hundred staff in Sydney yesterday, Pollaer said he had a vision to “create the sort of company that becomes known, respected, and loved by all as Australian for innovation and design,” reported the Australian Financial Review.

Pollaer believes the time has come for the company, which has lost more than $800 million over the past four years and moved most of its manufacturing offshore, to “raise the bar on how it acts and change the way it is perceived”.

“Pacific Brands must be more than a listing on the stock exchange – it must be powerfully led by an inspiring and excitiing brnad that makes thing possible for people, for the community, and the market,” Pollaer said.

According to the AFR, the Pacific Brand chief plans to hit the road and personally present his vision for the company, over the next to weeks, to more than 4000 staff in Australia and New Zealand. When the roadshow is complete, the company will formally launch its new corporate logo and tagline.

“In Australia we seem to struggle with the notion of creating a heroic company,” he said.

“We are out of sync with the rest of the world and rarely rally behind great companies, let alone acknowledge their achievements, [even though] Australia businesses are highly respected overseas.”

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