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[Skip to content](https://matrixbcg.com/blogs/owners/myer#MainContent) [ ](https://matrixbcg.com/) - [PRODUCTS](https://matrixbcg.com/collections/all) - [BLOG](https://matrixbcg.com/blogs/mission) [Search](https://matrixbcg.com/search) [Cart 0 / \$0.00](https://matrixbcg.com/cart) March 11, 2026 # Who Owns Myer Company? ### Myer Bundle  ## Who owns Myer now after the 2024 shake-up? Myer’s 2024 deal to acquire Premier Investments’ apparel brands ended a long boardroom standoff and set a new course for consolidation in Australian retail. Ownership shifts now determine whether Myer stays a legacy department store or becomes part of a broader retail group.  Myer, founded in 1900, operates **56** stores and reported about **826 million AUD** in online sales in fiscal 2024; recent activist moves and the Premier deal reshaped control and strategic direction. See [Myer Porter's Five Forces Analysis](https://matrixbcg.com/products/myer-bcg-matrix) for competitive context. ## Who Founded Myer? Founders and Early Ownership traces back to Simcha Baevski, who became Sidney Myer, and his brother Elcon Myer, who opened a small drapery in Bendigo in 1900 and retained full family equity during early expansion.  ### Founding Brothers Sidney and Elcon Myer founded the store after emigrating from Russia; their partnership kept ownership tightly held within the family.  ### First Store The initial drapery opened in Bendigo in 1900, focusing on high-volume, low-margin retailing.  ### Major Acquisition By 1911 the brothers acquired Wright and Neil in Melbourne, establishing the Bourke Street emporium site.  ### Ownership Structure Equity remained concentrated in the Myer family and close associates; growth was financed via retained earnings and local credit.  ### Business Philosophy The founding vision emphasized customer service and turnover-driven margins, guiding early strategic decisions and expansion.  ### Succession After Sidney Myer’s death in 1934, ownership passed to his heirs and the Myer Family Trust, which steered the company for decades. Family control via the Myer Family Trust kept the company culturally central to Melbourne retailing and maintained strategic direction until broader shareholder changes in later decades; see a concise company timeline in [Brief History of Myer](https://matrixbcg.com/blogs/brief-history/myer).  ### Key Early Ownership Facts Founders and early equity details relevant to Myer ownership and the company’s origins. - The company began as a family-owned drapery in 1900 with full equity held by Sidney and Elcon Myer. - Acquisition of Wright and Neil in 1911 established the Bourke Street emporium location. - Early capital came from retained earnings and local credit; no significant external venture capital. - Ownership passed to heirs and the Myer Family Trust after 1934, maintaining majority influence for over 50 years. ## Myer SWOT Analysis - Complete SWOT Breakdown - Fully Customizable - Editable in Excel & Word - Professional Formatting - Investor-Ready Format GET TEMPLATE ➔  ## How Has Myer’s Ownership Changed Over Time? Key events reshaping Myer ownership include the 1985 merger into Coles Myer, the 2006 carve‑out sold to a TPG‑led consortium for about **1\.4 billion AUD**, the 2009 IPO at **4\.10 AUD** per share (initial market cap ~**2\.3 billion AUD**), and Premier Investments’ accumulation from 2017 culminating in a **31\.37 percent** stake by late 2024. | Year / Event | Transaction / Outcome | Key Stakeholders | |---|---|---| | 1985 | Merger to form Coles Myer Limited | Myer, G.J. Coles & Coy | | 2006 | Department store divestment; sale ~1.4 billion AUD | TPG Capital, Myer family consortium | | 2009 (Nov) | IPO at 4.10 AUD; public relisting (~2.3B AUD) | TPG (majority pre-IPO), institutional investors | | 2017–2024 | Premier Investments stakebuilding to 31.37% | Premier Investments (Solomon Lew), Wilson Asset Management, index funds | | 2024–2025 (proposal) | Proposed merge with Premier apparel brands; new shares issuance | Premier Investments (potential controlling influence) | The ownership evolution moved from corporate merger to private equity ownership, public listing, then toward concentrated strategic control by Premier Investments; this reorientation affects Myer’s supply chain, brand portfolio and governance, altering the Myer ownership structure and who controls Myer company operations.  ### Ownership milestones to note Three clear phases define Myer ownership: conglomerate merger, private equity ownership and public company, then strategic majority accumulation by Premier. - 1985 merger created Australia’s largest retailer at the time - 2006 sale to a TPG‑led consortium for approximately **1\.4 billion AUD** - 2009 IPO priced at **4\.10 AUD** per share (market cap ~**2\.3 billion AUD**) - By late 2024 Premier Investments held **31\.37 percent**, with a 2024 proposal potentially elevating its influence to controlling levels For detailed strategic analysis and implications for shareholders, see [Growth Strategy of Myer](https://matrixbcg.com/blogs/growth-strategy/myer) ## Myer PESTLE Analysis - Covers All 6 PESTLE Categories - No Research Needed – Save Hours of Work - Built by Experts, Trusted by Consultants - Instant Download, Ready to Use - 100% Editable, Fully Customizable GET TEMPLATE ➔  ## Who Sits on Myer’s Board? Myer’s board is led by Executive Chair Olivia Wirth since early 2024, overseeing a board reshaped after activist campaigns; the governance balances a one-share-one-vote structure with a dominant **31\.37%** block held by Solomon Lew, which exerts decisive influence over major resolutions. | Director | Role | Notes | |---|---|---| | Olivia Wirth | Executive Chair | Appointed early 2024; brokered peace during Premier merger talks | | Gary Weiss | Non‑Executive Director | Aligned with major shareholder interests | | Ariane Barker | Independent Director | Independent oversight and governance experience | | Dave Whittle | Independent Director | Retail and operational expertise | Myer remains a publicly traded company operating under a standard voting regime; effective control derives from concentrated equity, significant director appointments, and strategic alignment around the Customer First plan and integration with Premier brands.  ### Board influence and voting reality The board’s dynamics reflect a negotiated stability: strong shareholder influence combined with independent oversight. - Voting: one‑share‑one‑vote formal structure - Effective veto: Solomon Lew’s **31\.37%** stake shapes major outcomes - Proxy battles in 2021–2022 led to a full board refresh and departure of former chair Garry Hounsell - Board alignment centers on the Customer First plan and Premier integration Recent governance actions: executive chair appointment in 2024, ongoing merger negotiations with Premier, and continued scrutiny of remuneration reports where a second strike could be influenced by the major shareholder block; see the related analysis in [Marketing Strategy of Myer](https://matrixbcg.com/blogs/marketing-strategy/myer). ## Myer Business Model Canvas - Complete 9-Block Business Model Canvas - Effortlessly Communicate Your Business Strategy - Investor-Ready BMC Format - 100% Editable and Customizable - Clear and Structured Layout GET TEMPLATE ➔  ## What Recent Changes Have Shaped Myer’s Ownership Landscape? Over the past 24 months Myer ownership has shifted toward consolidation and institutionalisation: a proposed all‑scrip acquisition of Premier Investments' apparel brands announced in June 2024 and advanced through 2025 is the dominant development, amid share buybacks and executive incentive changes that increased insider alignment. | Development | Timing | Impact | |---|---|---| | Proposed acquisition of Premier’s Apparel Brands (all‑scrip) | Announced June 2024; progressing through 2025 | Issuance of **hundreds of millions** of new Myer shares; dilution of small retail investors; consolidation of apparel retail | | Share buybacks and cost controls | FY2024 | Net profit after tax **AUD 52.6 million**; improved margins despite inflationary pressure | | Rise in passive institutional ownership | 2023–2025 trend | ETFs and index funds now hold a significant portion of free float; reduced activist/private equity presence | | Executive incentives and governance changes | 2024–2025 | New Chair Olivia Wirth and executives issued performance rights tied to total shareholder return; increased management ‘skin in the game’ | Broader ownership trends show a move away from isolated department store status toward a diversified retail platform controlled by concentrated, expert ownership groups and large passive holders, with analysts noting potential further horizontal deals or possible privatization if market valuation fails to capture merger synergies.  **Consolidation via all‑scrip deal** The June 2024 all‑scrip proposal would issue **hundreds of millions** of new shares to Premier shareholders, reshaping the Myer ownership structure and potentially creating a dominant retail conglomerate.  **Institutional passive ownership** ETFs and index funds now account for a significant share of the free float, increasing price correlation with market indices and reducing scope for private equity-led turnarounds.  **Executive alignment with shareholders** Performance rights linked to total shareholder return have been granted to Chair Olivia Wirth and senior executives, aligning management incentives with long‑term shareholder value.  **Future scenarios to 2026** Analysts project potential further horizontal acquisitions post‑merger or consideration of privatization if combined entity synergies are not reflected in public valuation. For context on governance and company priorities see [Mission, Vision & Core Values of Myer](https://matrixbcg.com/blogs/mission/myer). ## Myer Porter's Five Forces Analysis - Covers All 5 Competitive Forces in Detail - Structured for Consultants, Students, and Founders - 100% Editable in Microsoft Word & Excel - Instant Digital Download – Use Immediately - Compatible with Mac & PC – Fully Unlocked GET TEMPLATE ➔  - [What is Brief History of Myer Company?](https://matrixbcg.com/blogs/brief-history/myer) - [What is Competitive Landscape of Myer Company?](https://matrixbcg.com/blogs/competitors/myer) - [What is Growth Strategy and Future Prospects of Myer Company?](https://matrixbcg.com/blogs/growth-strategy/myer) - [How Does Myer Company Work?](https://matrixbcg.com/blogs/how-it-works/myer) - [What is Sales and Marketing Strategy of Myer Company?](https://matrixbcg.com/blogs/marketing-strategy/myer) - [What are Mission Vision & Core Values of Myer Company?](https://matrixbcg.com/blogs/mission/myer) - [What is Customer Demographics and Target Market of Myer Company?](https://matrixbcg.com/blogs/target-market/myer) ## Disclaimer All information, articles, and product details provided on this website are for general informational and educational purposes only. We do not claim any ownership over, nor do we intend to infringe upon, any trademarks, copyrights, logos, brand names, or other intellectual property mentioned or depicted on this site. Such intellectual property remains the property of its respective owners, and any references here are made solely for identification or informational purposes, without implying any affiliation, endorsement, or partnership. We make no representations or warranties, express or implied, regarding the accuracy, completeness, or suitability of any content or products presented. Nothing on this website should be construed as legal, tax, investment, financial, medical, or other professional advice. In addition, no part of this site—including articles or product references—constitutes a solicitation, recommendation, endorsement, advertisement, or offer to buy or sell any securities, franchises, or other financial instruments, particularly in jurisdictions where such activity would be unlawful. 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### Myer Bundle  ## Who owns Myer now after the 2024 shake-up? Myer’s 2024 deal to acquire Premier Investments’ apparel brands ended a long boardroom standoff and set a new course for consolidation in Australian retail. Ownership shifts now determine whether Myer stays a legacy department store or becomes part of a broader retail group.  Myer, founded in 1900, operates **56** stores and reported about **826 million AUD** in online sales in fiscal 2024; recent activist moves and the Premier deal reshaped control and strategic direction. See [Myer Porter's Five Forces Analysis](https://matrixbcg.com/products/myer-bcg-matrix) for competitive context. Who Founded Myer? Founders and Early Ownership traces back to Simcha Baevski, who became Sidney Myer, and his brother Elcon Myer, who opened a small drapery in Bendigo in 1900 and retained full family equity during early expansion.  ### Founding Brothers Sidney and Elcon Myer founded the store after emigrating from Russia; their partnership kept ownership tightly held within the family.  ### First Store The initial drapery opened in Bendigo in 1900, focusing on high-volume, low-margin retailing.  ### Major Acquisition By 1911 the brothers acquired Wright and Neil in Melbourne, establishing the Bourke Street emporium site.  ### Ownership Structure Equity remained concentrated in the Myer family and close associates; growth was financed via retained earnings and local credit.  ### Business Philosophy The founding vision emphasized customer service and turnover-driven margins, guiding early strategic decisions and expansion.  ### Succession After Sidney Myer’s death in 1934, ownership passed to his heirs and the Myer Family Trust, which steered the company for decades. Family control via the Myer Family Trust kept the company culturally central to Melbourne retailing and maintained strategic direction until broader shareholder changes in later decades; see a concise company timeline in [Brief History of Myer](https://matrixbcg.com/blogs/brief-history/myer).  ### Key Early Ownership Facts Founders and early equity details relevant to Myer ownership and the company’s origins. - The company began as a family-owned drapery in 1900 with full equity held by Sidney and Elcon Myer. - Acquisition of Wright and Neil in 1911 established the Bourke Street emporium location. - Early capital came from retained earnings and local credit; no significant external venture capital. - Ownership passed to heirs and the Myer Family Trust after 1934, maintaining majority influence for over 50 years. ## Myer SWOT Analysis - Complete SWOT Breakdown - Fully Customizable - Editable in Excel & Word - Professional Formatting - Investor-Ready Format  How Has Myer’s Ownership Changed Over Time? Key events reshaping Myer ownership include the 1985 merger into Coles Myer, the 2006 carve‑out sold to a TPG‑led consortium for about **1\.4 billion AUD**, the 2009 IPO at **4\.10 AUD** per share (initial market cap ~**2\.3 billion AUD**), and Premier Investments’ accumulation from 2017 culminating in a **31\.37 percent** stake by late 2024. | Year / Event | Transaction / Outcome | Key Stakeholders | |---|---|---| | 1985 | Merger to form Coles Myer Limited | Myer, G.J. Coles & Coy | | 2006 | Department store divestment; sale ~1.4 billion AUD | TPG Capital, Myer family consortium | | 2009 (Nov) | IPO at 4.10 AUD; public relisting (~2.3B AUD) | TPG (majority pre-IPO), institutional investors | | 2017–2024 | Premier Investments stakebuilding to 31.37% | Premier Investments (Solomon Lew), Wilson Asset Management, index funds | | 2024–2025 (proposal) | Proposed merge with Premier apparel brands; new shares issuance | Premier Investments (potential controlling influence) | The ownership evolution moved from corporate merger to private equity ownership, public listing, then toward concentrated strategic control by Premier Investments; this reorientation affects Myer’s supply chain, brand portfolio and governance, altering the Myer ownership structure and who controls Myer company operations.  ### Ownership milestones to note Three clear phases define Myer ownership: conglomerate merger, private equity ownership and public company, then strategic majority accumulation by Premier. - 1985 merger created Australia’s largest retailer at the time - 2006 sale to a TPG‑led consortium for approximately **1\.4 billion AUD** - 2009 IPO priced at **4\.10 AUD** per share (market cap ~**2\.3 billion AUD**) - By late 2024 Premier Investments held **31\.37 percent**, with a 2024 proposal potentially elevating its influence to controlling levels For detailed strategic analysis and implications for shareholders, see [Growth Strategy of Myer](https://matrixbcg.com/blogs/growth-strategy/myer) ## Myer PESTLE Analysis - Covers All 6 PESTLE Categories - No Research Needed – Save Hours of Work - Built by Experts, Trusted by Consultants - Instant Download, Ready to Use - 100% Editable, Fully Customizable  Who Sits on Myer’s Board? Myer’s board is led by Executive Chair Olivia Wirth since early 2024, overseeing a board reshaped after activist campaigns; the governance balances a one-share-one-vote structure with a dominant **31\.37%** block held by Solomon Lew, which exerts decisive influence over major resolutions. | Director | Role | Notes | |---|---|---| | Olivia Wirth | Executive Chair | Appointed early 2024; brokered peace during Premier merger talks | | Gary Weiss | Non‑Executive Director | Aligned with major shareholder interests | | Ariane Barker | Independent Director | Independent oversight and governance experience | | Dave Whittle | Independent Director | Retail and operational expertise | Myer remains a publicly traded company operating under a standard voting regime; effective control derives from concentrated equity, significant director appointments, and strategic alignment around the Customer First plan and integration with Premier brands.  ### Board influence and voting reality The board’s dynamics reflect a negotiated stability: strong shareholder influence combined with independent oversight. - Voting: one‑share‑one‑vote formal structure - Effective veto: Solomon Lew’s **31\.37%** stake shapes major outcomes - Proxy battles in 2021–2022 led to a full board refresh and departure of former chair Garry Hounsell - Board alignment centers on the Customer First plan and Premier integration Recent governance actions: executive chair appointment in 2024, ongoing merger negotiations with Premier, and continued scrutiny of remuneration reports where a second strike could be influenced by the major shareholder block; see the related analysis in [Marketing Strategy of Myer](https://matrixbcg.com/blogs/marketing-strategy/myer). ## Myer Business Model Canvas - Complete 9-Block Business Model Canvas - Effortlessly Communicate Your Business Strategy - Investor-Ready BMC Format - 100% Editable and Customizable - Clear and Structured Layout  What Recent Changes Have Shaped Myer’s Ownership Landscape? Over the past 24 months Myer ownership has shifted toward consolidation and institutionalisation: a proposed all‑scrip acquisition of Premier Investments' apparel brands announced in June 2024 and advanced through 2025 is the dominant development, amid share buybacks and executive incentive changes that increased insider alignment. | Development | Timing | Impact | |---|---|---| | Proposed acquisition of Premier’s Apparel Brands (all‑scrip) | Announced June 2024; progressing through 2025 | Issuance of **hundreds of millions** of new Myer shares; dilution of small retail investors; consolidation of apparel retail | | Share buybacks and cost controls | FY2024 | Net profit after tax **AUD 52.6 million**; improved margins despite inflationary pressure | | Rise in passive institutional ownership | 2023–2025 trend | ETFs and index funds now hold a significant portion of free float; reduced activist/private equity presence | | Executive incentives and governance changes | 2024–2025 | New Chair Olivia Wirth and executives issued performance rights tied to total shareholder return; increased management ‘skin in the game’ | Broader ownership trends show a move away from isolated department store status toward a diversified retail platform controlled by concentrated, expert ownership groups and large passive holders, with analysts noting potential further horizontal deals or possible privatization if market valuation fails to capture merger synergies.  **Consolidation via all‑scrip deal** The June 2024 all‑scrip proposal would issue **hundreds of millions** of new shares to Premier shareholders, reshaping the Myer ownership structure and potentially creating a dominant retail conglomerate.  **Institutional passive ownership** ETFs and index funds now account for a significant share of the free float, increasing price correlation with market indices and reducing scope for private equity-led turnarounds.  **Executive alignment with shareholders** Performance rights linked to total shareholder return have been granted to Chair Olivia Wirth and senior executives, aligning management incentives with long‑term shareholder value.  **Future scenarios to 2026** Analysts project potential further horizontal acquisitions post‑merger or consideration of privatization if combined entity synergies are not reflected in public valuation. For context on governance and company priorities see [Mission, Vision & Core Values of Myer](https://matrixbcg.com/blogs/mission/myer). ## Myer Porter's Five Forces Analysis - Covers All 5 Competitive Forces in Detail - Structured for Consultants, Students, and Founders - 100% Editable in Microsoft Word & Excel - Instant Digital Download – Use Immediately - Compatible with Mac & PC – Fully Unlocked  - [What is Brief History of Myer Company?](https://matrixbcg.com/blogs/brief-history/myer) - [What is Competitive Landscape of Myer Company?](https://matrixbcg.com/blogs/competitors/myer) - [What is Growth Strategy and Future Prospects of Myer Company?](https://matrixbcg.com/blogs/growth-strategy/myer) - [How Does Myer Company Work?](https://matrixbcg.com/blogs/how-it-works/myer) - [What is Sales and Marketing Strategy of Myer Company?](https://matrixbcg.com/blogs/marketing-strategy/myer) - [What are Mission Vision & Core Values of Myer Company?](https://matrixbcg.com/blogs/mission/myer) - [What is Customer Demographics and Target Market of Myer Company?](https://matrixbcg.com/blogs/target-market/myer) ## Disclaimer All information, articles, and product details provided on this website are for general informational and educational purposes only. We do not claim any ownership over, nor do we intend to infringe upon, any trademarks, copyrights, logos, brand names, or other intellectual property mentioned or depicted on this site. Such intellectual property remains the property of its respective owners, and any references here are made solely for identification or informational purposes, without implying any affiliation, endorsement, or partnership. We make no representations or warranties, express or implied, regarding the accuracy, completeness, or suitability of any content or products presented. Nothing on this website should be construed as legal, tax, investment, financial, medical, or other professional advice. In addition, no part of this site—including articles or product references—constitutes a solicitation, recommendation, endorsement, advertisement, or offer to buy or sell any securities, franchises, or other financial instruments, particularly in jurisdictions where such activity would be unlawful. All content is of a general nature and may not address the specific circumstances of any individual or entity. It is not a substitute for professional advice or services. Any actions you take based on the information provided here are strictly at your own risk. You accept full responsibility for any decisions or outcomes arising from your use of this website and agree to release us from any liability in connection with your use of, or reliance upon, the content or products found herein.