Bendon Group

Bendon Group is a New Zealand apparel company whose principal activities center on women's lingerie, underwear, sleepwear and swimwear, together with selected men's underwear and related apparel. The business was established in 1947 on Auckland's North Shore by former naval officer Ray Hurley and pattern cutter Des Hurley. It initially produced corsets and then broadened into underwear, responding to postwar shortages and changing consumer demand. Its early identity was associated with the Hurley Bendon name. For much of the second half of the twentieth century, Bendon was a New Zealand manufacturer. In 1987 it was acquired by Ceramco Corporation. During the 1990s the company faced intensified competition from retailers selling lower-priced imported underwear, including The Warehouse, DEKA and Farmers. Bendon improved its performance partly by expanding in Australia; its reported profit increased from NZ$1.14 million in 1998 to NZ$4.07 million in 1999. The company also developed a more fashion-led profile through celebrity and designer relationships. Elle Macpherson became a prominent face of the brand in 1990 and remained associated with it until 2013, including through the Elle Macpherson Intimates label. Later collaborations included Stella McCartney and Heidi Klum. A major structural change occurred in 2000, when Bendon announced that it would close its remaining New Zealand production operations and transfer manufacturing to facilities in Indonesia, the Philippines, Thailand and China. The decision eliminated approximately 400 jobs at facilities in Te Rapa and East Tamaki and was widely viewed as a significant blow to New Zealand apparel manufacturing. Bendon also moved its head office to Sydney during that period. The company subsequently expanded its retail and international distribution footprint. Pacific Retail Group, associated with Eric Watson, acquired Bendon in 2002 for a reported NZ$58.7 million. Under that ownership the company opened a flagship store in Newmarket, Auckland, merged with Australian lingerie company Pleasure State in 2011, and developed a portfolio including Bendon, Me by Bendon, Pleasure State, Lovable, Hickory, Fayreform, Bendon Man and Davenport. By 2017 its products were distributed through thousands of shops in dozens of countries, alongside company-owned stores and outlets in New Zealand, Australia and Ireland. Naked Brands acquired Bendon in 2017 through a reverse-takeover transaction. The group subsequently experienced substantial losses, financing pressure and difficulties associated with its bricks-and-mortar operations. Bendon ended its relationship with Stella McCartney in 2017, while the McCartney lingerie and textile production arrangements later moved to another supplier. Naked Brands divested Bendon through a management buyout for a nominal one-dollar consideration in April 2021, alongside debt forgiveness and new financing arrangements. Under its post-2021 ownership, Bendon shifted away from a business model heavily centered on supermodel associations and emphasized comfort, practical fit and professional in-store fittings. The company also sought to represent a broader range of body types in its marketing. Pandemic-related disruption continued to affect revenue and store economics, but the business remained active in New Zealand and Australia. Bendon operates dedicated New Zealand lingerie stores and also sells through Australian department-store channels such as David Jones and Myer. Its charitable activity has included support for Thread Together mobile clothing vans in Australia.

Bendon began in 1947 on Auckland's North Shore, founded by Ray Hurley and his brother Des Hurley. Ray was a former naval officer, while Des worked as a pattern cutter. The business first made corsets and then expanded into underwear as New Zealand experienced shortages and changing apparel needs after the Second World War. The Hurley Bendon identity reflected the company's original family ownership and manufacturing orientation. In 1987 Bendon was acquired by Ceramco Corporation. During the 1990s, New Zealand manufacturers faced growing pressure from retailers offering inexpensive Asian imports. Bendon responded by strengthening its Australian presence and adding fashion and celebrity dimensions to its brand. Elle Macpherson became a face of Bendon in 1990 and later collaborated with the company on Elle Macpherson Intimates. The Australian expansion helped the company recover from declining profitability; reported profit rose from NZ$1.14 million in 1998 to NZ$4.07 million in 1999. The company then undertook a decisive manufacturing relocation. In 2000 Bendon first indicated that it intended to maintain New Zealand manufacturing and distribution, but later announced that all production would be moved offshore within six months. Operations were transferred to factories in Indonesia, the Philippines, Thailand and China. The closure affected about 400 workers at Te Rapa and East Tamaki and ended Bendon's mass production of underwear in New Zealand. The decision also affected suppliers and other businesses connected to the local apparel-manufacturing ecosystem. Bendon moved its head office to Sydney in the same period. Pacific Retail Group, linked to Eric Watson, purchased Bendon in 2002. The company later invested in branded retail, including a flagship Newmarket store opened in 2003. It developed additional labels and partnerships, including a Stella McCartney lingerie collection launched in the late 2000s and a merger with Pleasure State in 2011. Heidi Klum became associated with the company from 2014, and Heidi Klum Intimates eventually replaced Elle Macpherson Intimates as the group's principal celebrity-linked label. By 2017 the business had a broad international distribution network, company-owned stores and outlets in New Zealand, Australia and Ireland, and offices or operations connected with several overseas markets. Naked Brands purchased Bendon in 2017 through a reverse takeover. The transaction occurred while Bendon was under financial pressure, including breaches of banking covenants associated with an earlier loan. The company reported significant losses in the financial years ending January 2018 and January 2019 and subsequently explored brand sales and additional financing. The relationship with Stella McCartney ended in 2017, and the related production arrangements were transferred to ISA Spa from 2018. In April 2021 Naked Brands divested Bendon through a management buyout for a nominal one-dollar payment. The arrangement included forgiveness of a reported NZ$40 million loan, access to cash and a NZ$7 million lending facility. After the transaction, management sought to reduce reliance on supermodel marketing and reposition Bendon around comfortable underwear, professional fitting and a wider representation of body types. The COVID-19 pandemic continued to weigh on sales and fixed retail costs. Bendon remained active as a private New Zealand-led group, operating dedicated stores in New Zealand and selling through wholesale and department-store channels in Australia. Its Australian community involvement has included sponsorship of Thread Together mobile clothing vans.

• 2021

  Management buyout

  [1]Bendon Groupen.wikipedia.org

  Bendon is divested by Naked Brands through a nominal one-dollar management buyout.

• 2017

  Naked Brands acquisition

  [1]Bendon Groupen.wikipedia.org

  Naked Brands acquires Bendon through a reverse-takeover structure.

• 2014

  Heidi Klum partnership

  [1]Bendon Groupen.wikipedia.org

  Heidi Klum becomes associated with Bendon and collaborates on Heidi Klum Intimates.

• 2011

  Pleasure State merger

  [1]Bendon Groupen.wikipedia.org

  Bendon is merged with Australian lingerie company Pleasure State.

• 2007

  Stella McCartney partnership announced

  [1]Bendon Groupen.wikipedia.org

  Bendon partners with Stella McCartney on a lingerie range scheduled to launch in early 2008.

• 2003

  Newmarket flagship opens

  [1]Bendon Groupen.wikipedia.org

  Bendon opens a flagship retail store in Newmarket, Auckland.

• 2002

  Pacific Retail Group acquires Bendon

  [1]Bendon Groupen.wikipedia.org

  Eric Watson's Pacific Retail Group purchases Bendon.

• 2000

  Manufacturing moves offshore

  [1]Bendon Groupen.wikipedia.org

  Bendon closes its New Zealand production operations and transfers manufacturing to facilities in Asia.

• 1990

  Elle Macpherson becomes a brand face

  [1]Bendon Groupen.wikipedia.org

  Elle Macpherson begins a long association with Bendon that later includes the Elle Macpherson Intimates label.

• 1987

  Ceramco acquires Bendon

  [1]Bendon Groupen.wikipedia.org

  Bendon becomes part of Ceramco Corporation.

• 1947

  Bendon is established in Auckland

  [1]Bendon Groupen.wikipedia.org

  Ray Hurley and Des Hurley establish the business on Auckland's North Shore, initially producing corsets before expanding into underwear.

A fit-focused, mid-market to premium lingerie and underwear group combining branded retail, wholesale distribution and specialist fitting services.

• Women's lingerie and underwear · 1947

  Bendon

  The core Bendon label offers women's bras, underwear, lingerie and related apparel. It is the group's principal consumer-facing brand and is sold through dedicated stores, wholesale partners and department-store channels. In its post-2021 repositioning, the brand placed greater emphasis on comfort, fit and professional in-store fittings rather than relying primarily on celebrity associations.

• Fuller-cup lingerie

  Fayreform

  Fayreform is the group's fuller-cup lingerie brand. Its role within the portfolio is to address customers seeking extended fit and support options, complementing the broader Bendon women's range.

• Men's underwear

  Bendon Man

  Bendon Man is the group's men's underwear label. It extends the portfolio beyond women's lingerie and supports the company's broader positioning in everyday intimates and apparel.

• Men's underwear and apparel

  Davenport

  Davenport is identified as one of the group's men's brands, contributing to Bendon's male-oriented underwear and apparel portfolio.

• Women's lingerie

  Pleasure State

  Pleasure State was an Australian lingerie company merged with Bendon in 2011. It became part of the group's multi-brand lingerie portfolio.

• Women's lingerie and underwear

  Lovable

  Lovable is listed among Bendon Group's women's brands. Available source material identifies the label as part of the portfolio but does not provide a detailed current product or distribution profile.

• Women's underwear and apparel

  Hickory

  Hickory is one of the women's brands included in the Bendon Group portfolio. The available reference material does not specify its current assortment or operating status in detail.

• Designer lingerie · 2014

  Heidi Klum Intimates

  Heidi Klum Intimates was developed with Heidi Klum and became the group's principal celebrity-linked brand after the earlier Elle Macpherson association. It represented Bendon's fashion and licensing strategy during the 2010s.

• 2021Thread Together mobile clothing van sponsorship

  Australia

  Bendon Lingerie supported Thread Together, a network providing clothing through mobile charity vans in New South Wales. In 2021 the company sponsored an additional van serving Brisbane and regional Queensland.

  Outcome. The sponsorship expanded the clothing-van program's regional reach.

  Source

• 2021

  Management buyout and repositioningStrategy

  Background

  Naked Brands sought to release capital from unprofitable bricks-and-mortar businesses, while Bendon was close to liquidation after significant accumulated losses.

  Action taken

  Management acquired Bendon for a nominal one-dollar consideration. The restructuring included forgiveness of a reported NZ$40 million loan and access to a NZ$7 million facility.

  Aftermath

  The new owners emphasized comfort, professional fitting and broader body-type representation, while reducing dependence on supermodel-led marketing.

  Loan facility. NZ$7 million (2021)

  Source

• 2017

  Naked Brands reverse-takeover acquisitionM&A

  Background

  Bendon was expanding internationally but was also subject to financial and banking pressure.

  Action taken

  Naked Brands acquired Bendon through a reverse-takeover transaction.

  Aftermath

  The combined business later recorded substantial losses and ultimately divested Bendon in 2021.

  Reported annual sales at the time of acquisition. NZ$144 million (2017)

  Source

• 2011

  Pleasure State mergerM&A

  Background

  Bendon sought to broaden its brand and market presence in the Australian lingerie sector.

  Action taken

  Bendon merged with Australian lingerie company Pleasure State.

  Aftermath

  Pleasure State became part of Bendon's multi-label portfolio.

  Source

• 2000

  Transfer of manufacturing offshoreStrategy

  Background

  Bendon faced increasing competition from low-priced imported underwear and reassessed the economics of domestic apparel production.

  Action taken

  The company closed its New Zealand manufacturing operations and shifted production to factories in Indonesia, the Philippines, Thailand and China.

  Aftermath

  Approximately 400 jobs were affected, and the move was regarded as a major setback for New Zealand apparel manufacturing.

  Source

1. 1Bendon Groupen.wikipedia.org
2. 2Bendon official websitebendon.com