Retail sales continue to slide. While the worst of the financial crisis induced retail recession is over, the retail environment in Australia remains fragile and challenging. Tim Cecil, the fifth generation head of Henry Bucks, says the menswear retailer is part of Melbourne’s history as the clothier to the establishment – clients have included Sir Robert Menzies and Malcolm Fraser, Paul Keating bought his Zegna suits there and Kevin Rudd his ties. But the last of the world’s great menswear stores to remain in family hands is not impervious to the forces that have destroyed retailers over the last four years.
Tim says the family business is better placed than most. Given the retail environment, it’s not producing spectacular results but they’re steady and solid. No retailer could ask for more.