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Two openings, one closure at Ted’s

While the sad demise of Camera Action unfortunately takes precedence this week, just a few door up at 235 Elizabeth Street, Ted’s Cameras is undergoing a renaissance, with the doors opening this Saturday on a major re-fit.

Meanwhile Ted’s has opted to close its under-performing Chatswood Chase store in the northern suburbs of Sydney after failing to arrive at acceptable terms with centre landlords Colonial First State. And further up the east coast, Ted’s is opening a Leica Boutique in its Brisbane store.

‘While our industry undergoes significant change with the CE players waging an ongoing price war across our category and the rationalisation of a number of retailers including Camera Action Camera House, we have continued to stay true to our three-year vision of being the absolute best photo specialist retailer in the country, said Ted’s CEO Nic Peasley.

‘After 10 years where there were no major improvements to what had become a tired store in Elizabeth Street, we have undertaken a full refit along the design platform that we established at Fountain Gate late last year.

‘Interactivity with our customers is the key feature in what will be an innovative and slick design. The entire photographic offering will now be located on the ground floor where we will showcase the ranges from all key manufacturers from entry level point and shoot to the very best pro bodies and lenses.

He said that Ted’s had seen ‘fantastic success’ at Fountain Gate.

‘We have admired the destination that Peter Michael has created down the road and we are aiming to provide the photo consumers our own very different destination and experience,’ he said.

He said the new Leica Boutique in Ted’s Brisbane was ‘our first real attempt at ranging and selling this wonderful and iconic brand.’

‘Working closely with Leica Australia has enabled us to bring to life a unique offering in the Brisbane market and we believe one that complements our existing Brisbane flagship store.

The Leica Boutique also opens this Saturday.

Mr Peasley identified intransigence from the centre landlord as the key reason to shut shop at Chatswood Chase.

‘Months of rental negotiations failed to provide a rent and lease that we felt was acceptable to us,’ he explained. ‘This decision was not taken lightly. We decided to close to demonstrate that retailers simply cannot exist in shopping centres under the rental expectations of the centre landlords.

‘There is most definitely a sales level that you need to attain in this current climate to perform well in a shopping centre, and if we cannot attain that level then we will always consider our position.’

The Chatswood Chase store closed last week.

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