TJX Companies, one of the leading off-price retailers of apparel and home fashions, has entered into an agreement to purchase Trade Secret at US $ 58.4 million. Trade Secret offers branded apparel for women, men and children, as well as footwear, accessories and home fashions.
Carol Meyrowitz, Chairman and CEO of TJX Companies said, “TJX is one of the few major US retailers to have expanded successfully in international markets, including Canada and Europe, which gives us confidence in our potential growth in Australia. With consumer demographics similar to Canada, we see Trade Secret as a strong platform to grow in Australia. We believe TJX can further develop Trade Secret by leveraging our international leadership experience, buying scale, vendor universe, marketing, and other capabilities.”
