Cue Clothing Co. Seeks New Owner Amid Sales Struggles

Cue Clothing Co., the Australian fashion retailer that also owns the Veronika Maine brand, is reportedly seeking a buyer. The move comes after British investment firm Hilco Capital, which specializes in turning around struggling businesses, acquired the company in April of last year. At the time of the acquisition, Cue was reporting an operating loss of $4.6 million.

Hilco Capital has since worked to improve the brand's financial standing, increasing revenue and decreasing losses. In the last financial year, Cue's sales reached $103.2 million, up from $98 million the previous year. Losses for the same period also dropped significantly, from $14.1 million to $5.1 million. Marketing materials for the sale highlight "huge progress" made in upgrading leadership, overhauling product offerings, and reinventing core operations, presenting "a powerful platform for the next chapter of growth."

Cue, founded by Rod Levis in Sydney in 1968, remained a family-owned business alongside its sister brand Veronika Maine until the sale to Hilco. FTI Consulting has been appointed to manage the sale process for Hilco. The investment firm reportedly poached Melanie Remai from rival womenswear company Trenery to serve as chief executive of Cue Clothing Co. in August 2025. Additionally, the company's loans have been refinanced by Hilco with terms extending to July 2027.

FTI Consulting projects that Cue's sales are expected to reach $128.7 million in the current financial year. The company's offerings, which focus on workwear for professional women, position it above ultra-fast fashion giants like Shein and Temu, but below luxury designers. Retailers such as H&M and Zara also represent significant market competition.

Cue and Veronika Maine operate a combined total of 51 stores, including 42 full-price locations and nine discount outlets. Their products are also available through department stores such as Myer and David Jones, as well as two Ballantynes stores in New Zealand. The Australian retail landscape has been significantly impacted in recent years by the emergence of ultra-fast fashion brands.