Retail Apparel Group

Retail Apparel Group (RAG) is an Australian apparel retail company and brand house whose portfolio is concentrated in menswear and women's activewear. Its principal brands are Tarocash, yd., Connor, Johnny Bigg and Rockwear, with AXL+CO operating as a plus-size menswear proposition under the Connor business. The group sells through a combination of physical stores and online channels, serving customers seeking formalwear, smart-casual clothing, everyday menswear, extended-size apparel and performance-oriented women's activewear. The group's roots are in Tarocash, a menswear business developed in Australia by brothers Stephen and Michael Leibowitz after they began supplying wholesale clothing to retailers. The first store opened under the Cafe name in 1988, and the Tarocash name was subsequently adopted. Tarocash expanded during the 1990s and early 2000s, building a store network and using sports figures and athletes in catalogues and promotional activity. In 2004, private-equity investor CHAMP invested in the business to support further expansion. Retail Apparel Group was established in 2007 as a holding structure for Tarocash, Connor and yd. Connor had been launched as a value-oriented menswear chain in the same year, while yd., originally associated with the name Young Disciples, had been founded in Sydney in 1996. Johnny Bigg was added as a new chain in 2014, targeting larger and taller men with clothing, footwear and accessories in casual, smart-casual and formal categories. The group broadened beyond menswear in 2015 through its acquisition of Rockwear, a Queensland-founded women's activewear retailer established in 1991. Navis Capital Partners became the group's majority shareholder during its private-equity period. In 2015 and 2016, the company considered an Australian Securities Exchange initial public offering reportedly valued at approximately A$400 million, but the proposed listing was abandoned. The business was acquired by South African retail group The Foschini Group in 2017 for A$302.5 million, making RAG a wholly owned TFG subsidiary. The transaction gave TFG a substantial Australian retail platform and expanded its international store portfolio. RAG's operations were affected by the COVID-19 pandemic in 2020, when restrictions and changing shopping patterns led to temporary and permanent store closures. Digital sales nevertheless became increasingly important; TFG Australia reported a strong increase in online sales in the year to March 2021. Rockwear also expanded geographically, including a Western Australian rollout in 2021. In 2023, RAG created AXL+CO as an online plus-size menswear concept under Connor and later opened a physical store. Connor's Singapore opening in October 2025 represented the group's first reported Southeast Asian expansion. The company is headquartered in Roseberry, Sydney, while warehousing and distribution activities are conducted through facilities and logistics providers in New South Wales and Queensland. Reference material describes a network of more than 550 stores across Australia and New Zealand by 2026, alongside e-commerce operations. RAG also participates in clothing redistribution and charitable initiatives, including work with Thread Together, and publishes Modern Slavery Statements under Australia's Modern Slavery Act 2018. Its business model combines multiple differentiated retail banners with shared group capabilities in sourcing, distribution, digital commerce and corporate responsibility.

Retail Apparel Group developed from the Australian menswear business associated with Tarocash. Brothers Stephen and Michael Leibowitz immigrated from South Africa and began supplying wholesale menswear to Australian retailers in 1987. They opened a first store under the Cafe name in 1988, later adopting Tarocash, a name formed from the initial letters of their children's names. The business had five stores by 1991 and expanded through the 1990s and early 2000s. Its promotional activity included catalogues featuring professional sports teams and athletes. In 2004, private-equity firm CHAMP invested A$31 million to support expansion. In 2007, Tarocash had 86 stores and the company launched Connor, a menswear chain focused on affordable formal, smart-casual and casual clothing. The same year, the company acquired yd., a Sydney-founded menswear retailer established in 1996, and created Retail Apparel Group to house its retail businesses. The group reported 177 stores in 2008 and continued to broaden its portfolio. Johnny Bigg was launched in 2014 for larger and taller men, offering extended-size clothing, shoes and accessories. In 2015, RAG acquired Rockwear, a women's activewear company founded on Queensland's Gold Coast in 1991. During the Navis Capital Partners ownership period, RAG considered a public listing on the Australian Securities Exchange. The proposed 2015–2016 IPO was discussed at an approximate A$400 million valuation, but was abandoned as the company faced softer profit conditions, moderate sales and higher import costs associated with a weaker Australian dollar. By 2017, the group had 477 stores. The Foschini Group, a South African clothing and retail group listed on the Johannesburg Stock Exchange, acquired RAG from Navis for A$302.5 million in 2017. The transaction also resulted in the sale of Stephen Leibowitz's remaining interest and made TFG the group's sole owner. Following the acquisition, TFG sought to grow RAG and integrate it into its international retail activities while retaining the individual identities of the Australian banners. The group continued to expand its physical network and develop online retail. The pandemic caused significant disruption in 2020, including store closures and reduced retail activity, but online sales became an increasingly important channel. Rockwear expanded into Western Australia in 2021, while the group continued to operate across Australia and New Zealand. RAG later pursued further segmentation through AXL+CO, a plus-size menswear concept launched online in 2023 under Connor and subsequently extended into physical retail. Connor's Singapore opening in October 2025 was described as the group's first Southeast Asian expansion. By 2026, reference material described more than 550 stores across Australia and New Zealand, supported by online sales and distribution activity in New South Wales and Queensland. The group has also developed a corporate-responsibility program. It has worked with Thread Together to redistribute new surplus clothing and supported a mobile wardrobe program serving people affected by homelessness, domestic violence, natural disasters, refugee resettlement and long-term unemployment. Its brands have separately supported organisations including Make-A-Wish Australia, R U OK?, the National Breast Cancer Foundation and the Australian Red Cross. RAG publishes Modern Slavery Statements under Australian legislation and improved its assessment in Baptist World Aid Australia's 2024 Ethical Fashion Report.

• 2025

  Connor enters Singapore

  [1]Retail Apparel Groupen.wikipedia.org

  Connor opens a Singapore store, the group's first reported Southeast Asian location.

• 2023

  AXL+CO launches

  [1]Retail Apparel Groupen.wikipedia.org

  RAG launches an online plus-size menswear concept under Connor and later adds a physical location.

• 2021

  Rockwear enters Western Australia

  [1]Retail Apparel Groupen.wikipedia.org

  Rockwear opens five stores across Perth.

• 2017

  TFG becomes sole owner

  [1]Retail Apparel Groupen.wikipedia.org

  The Foschini Group acquires RAG for A$302.5 million and abandons the proposed IPO.

• 2015

  Rockwear is acquired

  [1]Retail Apparel Groupen.wikipedia.org

  RAG acquires Queensland-founded women's activewear retailer Rockwear.

• 2014

  Johnny Bigg launches

  [1]Retail Apparel Groupen.wikipedia.org

  RAG launches Johnny Bigg as an extended-size men's apparel brand.

• 2007

  Retail Apparel Group is established

  [1]Retail Apparel Groupen.wikipedia.org

  RAG is formed to house Tarocash, Connor and yd.

• 2004

  CHAMP invests in the business

  [1]Retail Apparel Groupen.wikipedia.org

  Private-equity investor CHAMP invests A$31 million to support expansion.

• 1988

  First retail store opens

  [1]Retail Apparel Groupen.wikipedia.org

  The Leibowitz brothers open their first store under the Cafe name.

• 1987

  Wholesale menswear operations begin

  [1]Retail Apparel Groupen.wikipedia.org

  Stephen and Michael Leibowitz begin supplying menswear to Australian retail outlets.

A multi-brand apparel retailer spanning accessible and contemporary menswear, extended-size men's fashion and women's activewear, with a store-led model supported by e-commerce.

• Men's contemporary apparel · 1987

  Tarocash

  Tarocash is a menswear retailer founded in Australia in 1987 and developed around smart-casual and formal clothing. Its range includes suits, officewear, event dressing and coordinated outfits for occasions such as weddings and race days. The brand operates stores and an online channel in Australia and New Zealand.

• Value-oriented men's apparel · 2007

  Connor

  Connor sells formal, smart-casual and casual men's clothing at accessible price points. Its product assortment is supported by a large store network in Australia and New Zealand and includes clothing for work, events and everyday use. Connor also provides the platform for the AXL+CO extended-size menswear concept.

• Men's fashion apparel · 1996

  yd.

  yd., originally associated with the name Young Disciples, is an Australian menswear brand founded in Redfern, Sydney, in 1996. It focuses on contemporary men's clothing across formal, smart-casual and casual occasions and operates through stores and e-commerce in Australia and New Zealand.

• Extended-size men's apparel · 2014

  Johnny Bigg

  Johnny Bigg is an extended-size men's apparel brand created by RAG in 2014. It serves larger and taller customers with casual, smart-casual and formal clothing, along with footwear and accessories. Its reported sizing extends from XL to 10XL and from LT to 6XLT, with selected footwear available in larger sizes.

• Women's activewear · 1991

  Rockwear

  Rockwear is a women's activewear brand founded on Queensland's Gold Coast in 1991. It designs clothing for running, Pilates, yoga, gym training and everyday wear. RAG acquired the brand in 2015 and subsequently expanded its store presence beyond Australia's eastern states, including a Western Australian rollout in 2021.

• Plus-size men's apparel · 2023

  AXL+CO

  AXL+CO is a plus-size menswear concept operated under Connor. It launched online in July 2023 and later opened a physical store. The proposition extends RAG's coverage of larger and taller men's clothing customers across casual, smart-casual and formal categories.

• 2020Thread Together mobile wardrobe support

  Australia

  RAG supported Thread Together's mobile wardrobe initiative, which redistributed new clothing to vulnerable Australians through mobile charity vans.

  Outcome. Reference material states that RAG had supported Thread Together since 2019, donated more than 100,000 garments and committed approximately A$160,000 over four years toward a mobile wardrobe van.

  Source
• 2005Shane Warne endorsement

  Australia

  Tarocash signed cricketer Shane Warne to a two-year catalogue and promotional contract.

  Outcome. Warne was removed from forthcoming catalogues two months later while the company reviewed the relationship.

  Source
• 2003Sports-player catalogue campaigns

  Australia

  Tarocash used players from the Canterbury Bulldogs, Wests Tigers and North Melbourne Football Club as catalogue models during its winter marketing activity, followed by cricketers Matthew Hayden and Michael Bevan in a summer catalogue.

  Outcome. The activity connected the menswear brand with Australian professional sports audiences.

  Source

• 2023

  Launch of AXL+COProduct launch

  Background

  RAG sought to expand its offer for larger and taller men within its existing menswear portfolio.

  Action taken

  The company launched AXL+CO online under Connor and subsequently opened its first physical store.

  Aftermath

  The launch added a dedicated extended-size proposition to the group.

  Source

• 2017

  Sale to The Foschini GroupM&A

  Background

  RAG was owned by Navis Capital Partners and had built a multi-brand Australian apparel network.

  Action taken

  The Foschini Group acquired RAG and obtained 100 percent ownership, including the founding director's interest.

  Aftermath

  RAG became part of TFG's international retail operations and continued operating its Australian brand portfolio.

  Acquisition price. A$302.5 million (2017)

  Source

• 2015

  Consideration of an ASX initial public offeringStrategy

  Background

  Under majority owner Navis Capital Partners, RAG considered an Australian Securities Exchange listing as the group expanded its store network.

  Action taken

  The company was assessed for an IPO at an approximate A$400 million valuation while buyer interest was also reviewed.

  Aftermath

  The IPO plan was abandoned before TFG acquired the company in 2017.

  Proposed IPO valuation. A$400 million proposed valuation (2015-2017)

  Source

1. 1Retail Apparel Groupen.wikipedia.org