Australian womenswear retailer Forever New lifted annual group turnover to approximately $400 million, driven by international store expansion across Asia, North America and the Middle East. Revenue outside its domestic home market now accounts for half of total group sales, up from an aggregate turnover of $270 million in fiscal 2019.

Group founder and chief executive Dipendra Goenka confirmed the figures as the Melbourne-based brand completed its twentieth year of trading. The business operates roughly 466 retail doors, concessions and outlets across 24 countries, managed alongside managing director Carolyn Mackenzie. Trading showed improved momentum across Australian stores in the second half of the year, while India, South Africa, Canada and the United Kingdom posted positive trading contributions.

For fashion retailers founded in Australia, crossing the $400 million threshold while generating half of that turnover overseas is an uncommon outcome. Mid-market apparel brands from Melbourne and Sydney frequently stumble when trying to duplicate local shopping mall formats offshore, caught out by opposing seasonal cadences, aggressive rent demands, and supply chain bottlenecks. Forever New counteracted those hazards by designing dual-hemisphere collections and relying on department store concessions before committing capital to full retail leases.

The commercial risk now sits in margin retention across overseas wholesale partnerships. Concession networks and digital platforms offer fast unit volume, but they extract steep commissions and restrict discounting flexibility when inventory builds up. Competitors targeting identical mid-market demographics have struggled to protect full-price sell-through rates across India and the Middle East, where local department operators command premium mall space and dictate floor productivity terms.

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