History

Adairs' first store opened for business on Chapel Street, Prahran in Victoria in the early 1900’s. Adairs later established itself as a small format department store in Camberwell, retailing manchester, curtains, ladies-wear and haberdashery until 1979. In 1981, the first incarnation of a modern Adairs boutique was opened in Doncaster Shoppingtown by a younger generation of the Adair family.

In 1984, a partnership between the Adair and MacLean families commenced. The success of this format saw the opening of another four stores in 1984 in the Brandon Park, Chadstone, Frankston and Northland shopping centres in Victoria.

In 1986, the MacLean family took majority control of the business. Throughout the 1990s and 2000s, Adairs expanded its retail footprint to all mainland States of Australia.

In November 2007, long-term shareholders the MacLean family sold their majority stake in the business to BB Retail Capital, an entity associated with Australian retail entrepreneur and former Director of the Company, Brett Blundy.

In December 2010, funds managed or advised by Catalyst acquired a 69.5% interest in the Company. Catalyst is a leading private equity firm with approximately A$400 million in funds under management. In June 2015, Adairs was listed on the Australian Stock Exchange (ASX). Adairs shares trade under the ASX code 'ADH'.

The Adairs team continues to be led by long term executives Mark Ronan (CEO) and Mandy Drake (CFO).

Adairs history