View Filing Data

$ 56,750

$ 59,787

(39,072)

(40,207)

Gross profit

17,678

19,580

Brand management

(25,399)

(25,873)

(1,851)

(1,891)

(7,901)

(7,028)

Brand transition, restructure and transaction expenses

(2,454)

(5,027)

(5,157)

(1,112)

Other foreign currency gains/(losses)

(4,181)

3,535

(934)

Fair value gain/(loss) on Convertible Notes derivative

(775)

3,246

Loss before income tax

(26,505)

(19,039)

Income tax (expense)/benefit

411

(174)

Items that may be reclassified to profit or loss

(26,094)

(19,213)

$ 37,593

Exchange differences on translation of foreign operations

(420)

757

Other comprehensive income/(loss) for the period, net of tax

(420)

757

Total comprehensive income/(loss) for the period

(26,515)

(18,456)

Total comprehensive income/(loss) attributable to:

Owners of Naked Brand Group Limited

$ (26,515)

$ (18,456)

Earnings per share from loss from continuing operations attributable to the ordinary equity holders of Naked Brand Group Limited

Basic loss per share (NZ$)

$ (1.28)

$ (0.89)

^[1]

Diluted loss per share (NZ$)

$ (1.28)

$ (0.89)

^[1]

[1]

As a result of the stock consolidation on 19 June 2018 the calculation of basic and diluted earnings per share for 2017 has been adjusted retrospectively. Number of ordinary shares outstanding has been adjusted to reflect the proportionate change in the number of shares. See note 16 for further information.

Consolidated Statements of Profit or Loss and Other Comprehensive Income (Bendon Limited) - NZD ($) $ in Thousands	7 Months Ended	12 Months Ended
	Jan. 31, 2017	Jan. 31, 2018	Jun. 30, 2016	Jun. 30, 2015
IncomeStatementLineItems [Line Items]
Loss for the period		$ 37,593
Bendon Limited [Member]
IncomeStatementLineItems [Line Items]
Revenue	$ 96,284	131,388	$ 151,000	$ 138,838
Cost of goods sold	(57,144)	(87,459)	(83,525)	(79,031)
Gross profit	39,140	43,929	67,475	59,807
Brand management	(32,040)	(53,653)	(48,362)	(42,203)
Administrative expenses	(2,383)	(4,131)	(4,090)	(4,691)
Corporate expenses	(8,082)	(12,851)	(13,002)	(13,940)
Finance expense	(6,238)	(8,791)	(10,409)	(5,870)
Brand transition, restructure and transaction expenses	(1,321)	(3,272)	(2,232)	(12,182)
Impairment expense	(292)	(1,914)	(2,157)
Other foreign currency gains/(losses)	(3,306)	757	(2,423)	4,700
Fair value gain/(loss) on Convertible Notes derivative	(592)	2,393
Loss before income tax	(15,114)	(37,533)	(15,200)	(14,379)
Income tax (expense)/benefit	(865)	(60)	(5,546)	1,274
Loss for the period	(15,979)	(37,593)	(20,746)	(13,105)
Items that may be reclassified to profit or loss
Exchange differences on translation of foreign operations	(29)	148	31	(93)
Other comprehensive income/(loss) for the period, net of tax	(29)	148	31	(93)
Total comprehensive (loss) for the period	(16,008)	(37,445)	(20,715)	(13,198)
Total comprehensive (loss) attributable to:
Owners of Bendon Limited	$ (16,008)	$ (37,445)	$ (20,715)	$ (13,198)
Loss per share for loss from continuing operations attributable to the ordinary equity holders of the company:
Basic loss per share (NZ$)	$ (60.54)	$ (131.38)	$ (82.86)	$ (52.79)
Diluted loss per share (NZ$)	$ (60.54)	$ (131.38)	$ (82.86)	$ (52.79)

Condensed Consolidated Balance Sheet (Unaudited) - NZD ($) $ in Thousands	Jul. 31, 2018	Jan. 31, 2018	Jul. 31, 2017	Jan. 31, 2017	Jun. 30, 2015
CURRENT ASSETS
Cash and cash equivalents	$ 4,173	$ 10,739	$ 3,464	$ 2,644
Trade and other receivables	10,083	13,165
Inventories	24,030	31,113
Foreign currency derivative financial instruments	220				$ 2,289
Related party receivables	16,002	15,326
TOTAL CURRENT ASSETS	54,508	70,343
NON-CURRENT ASSETS
Property, plant and equipment	4,054	4,741	4,277
Intangible assets	17,287	13,012
TOTAL NON-CURRENT ASSETS	21,341	17,753
TOTAL ASSETS	75,849	88,096
CURRENT LIABILITIES
Trade and other payables	34,734	32,516
Borrowings	21,167	52,121
Foreign currency derivative financial instruments		2,087			$ 1
Derivative on Convertible Notes		1,110
Current tax liabilities	158	786
Related party payables		1,369
Provisions	1,393	1,106
TOTAL CURRENT LIABILITIES	57,452	91,095
NON-CURRENT LIABILITIES
Provisions	2,165	2,711
TOTAL NON-CURRENT LIABILITIES	2,165	2,711
TOTAL LIABILITIES	59,617	93,806
NET ASSETS/(LIABILITIES)	16,232	(5,710)
EQUITY
Share capital	117,183	68,727
Other reserves	(2,426)	(2,006)
Accumulated losses	(98,525)	(72,431)
TOTAL EQUITY	$ 16,232	$ (5,710)	$ (14,781)	$ (9,044)

Consolidated Balance Sheets (Bendon Limited) - NZD ($) $ in Thousands	Jan. 31, 2018	Jan. 31, 2017	Jun. 30, 2016	Jun. 30, 2015
CURRENT ASSETS
Cash and cash equivalents	$ 10,739	$ 2,644
Trade and other receivables	13,165
Inventories	31,113
Derivative financial instruments				$ 2,289
Related party receivables	15,326
TOTAL CURRENT ASSETS	70,343
NON-CURRENT ASSETS
Property, plant and equipment	4,741
Intangible assets	13,012
TOTAL NON-CURRENT ASSETS	17,753
TOTAL ASSETS	88,096
CURRENT LIABILITIES
Trade and other payables	32,516
Borrowings	52,121
Foreign currency derivative financial instruments	2,087			1
Derivative on Convertible Notes	1,110
Current tax liabilities	786
Provisions	1,106
Related party payables	1,369
TOTAL CURRENT LIABILITIES	91,095
NON-CURRENT LIABILITIES
Provisions	2,711
TOTAL NON-CURRENT LIABILITIES	2,711
TOTAL LIABILITIES	93,806
NET ASSETS/(LIABILITIES)	(5,710)
EQUITY
Share capital	68,727
Other reserves	(2,006)
TOTAL EQUITY	(5,710)	(9,044)
Bendon Limited [Member]
CURRENT ASSETS
Cash and cash equivalents	10,739	2,644	4,193	1,246
Trade and other receivables	13,165	28,090	23,341	16,821
Inventories	31,113	37,751	37,572	45,660
Derivative financial instruments				2,289
Current tax receivable		52	88
Related party receivables	15,326	13,051	9,613	4,010
TOTAL CURRENT ASSETS	70,343	81,588	74,807	70,026
NON-CURRENT ASSETS
Property, plant and equipment	4,741	4,964	6,209	6,853
Deferred tax assets				5,589
Intangible assets	13,012	14,680	14,575	17,381
TOTAL NON-CURRENT ASSETS	17,753	19,644	20,784	29,823
TOTAL ASSETS	88,096	101,232	95,591	99,849
CURRENT LIABILITIES
Trade and other payables	32,516	28,566	26,815	36,550
Borrowings	52,121	68,998	61,593	56,273
Foreign currency derivative financial instruments	2,087	4,188	5,531	1
Derivative on Convertible Notes	1,110	4,112
Current tax liabilities	786	635		483
Provisions	1,106	1,528	855	786
Related party payables	1,369
TOTAL CURRENT LIABILITIES	91,095	108,027	94,794	94,093
NON-CURRENT LIABILITIES
Trade and other payables			118	150
Borrowings			16,000
Provisions	2,711	2,249	2,555	2,767
TOTAL NON-CURRENT LIABILITIES	2,711	2,249	18,673	2,917
TOTAL LIABILITIES	93,806	110,276	113,467	97,010
NET ASSETS/(LIABILITIES)	(5,710)	(9,044)	(17,876)	2,839
EQUITY
Share capital	68,727	27,948	3,108	3,108
Other reserves	(2,006)	(2,154)	(2,125)	(2,156)
Accumulated profit/(losses)	(72,431)	(34,838)	(18,859)	1,887
TOTAL EQUITY	$ (5,710)	$ (9,044)	$ (17,876)	$ 2,839

Condensed Consolidated Statement of Changes in Equity (Unaudited) - NZD ($) $ in Thousands	Share Capital [Member]	Accumulated Losses [Member]	Foreign Currency Translation Reserve [Member]	Total
Balance at Jan. 31, 2017	$ 27,948	$ (34,838)	$ (2,154)	$ (9,044)
Loss for the half year		(19,213)		(19,213)
Other comprehensive income for the half year			757	757
Issuance new shares	12,719			12,719
Balance at Jul. 31, 2017	40,667	(54,051)	(1,397)	(14,781)
Balance at Jan. 31, 2017	27,948	(34,838)	(2,154)	(9,044)
Loss for the half year				37,593
Balance at Jan. 31, 2018	68,727	(72,431)	(2,006)	(5,710)
Loss for the half year		(26,094)		(26,094)
Other comprehensive income for the half year			(420)	(420)
Issuance new shares	30,101			30,101
Issuance new shares from business combination	14,196			14,196
Conversion of convertible notes	4,159			4,159
Balance at Jul. 31, 2018	$ 117,183	$ (98,525)	$ (2,426)	$ 16,232

The amount of residual interest in the assets of the entity after deducting all its liabilities.

The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]

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Consolidated Statements of Changes in Equity (Bendon Limited) (NZD) - Bendon Limited [Member] - NZD ($) $ in Thousands	Ordinary Shares [Member]	Retained Earnings/(Accumulated Losses) [Member]	Foreign Currency Translation Reserve [Member]	Total stockholders' Equity [Member]
Balance at Jun. 30, 2014	$ 3,108	$ 14,992	$ (2,063)	$ 16,037
Loss for the period		(13,105)		(13,105)
Other comprehensive loss for the year			(93)	(93)
Balance at Jun. 30, 2015	3,108	1,887	(2,156)	2,839
Loss for the period		(20,746)		(20,746)
Other comprehensive loss for the year			31	31
Balance at Jun. 30, 2016	3,108	(18,859)	(2,125)	(17,876)
Loss for the period		(15,979)		(15,979)
Other comprehensive loss for the year			(29)	(29)
Issuance new shares	24,840			24,840
Balance at Jan. 31, 2017	27,948	(34,838)	(2,154)	(9,044)
Balance at Jan. 31, 2017	27,948	(34,838)	(2,154)	(9,044)
Loss for the period		(37,593)		(37,593)
Other comprehensive loss for the year			148	148
Issuance new shares	22,990			22,990
Value of conversion rights - convertible notes	17,789			17,789
Balance at Jan. 31, 2018	$ 68,727	$ (72,431)	$ (2,006)	$ (5,710)

The amount of residual interest in the assets of the entity after deducting all its liabilities.

The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]

Significant Changes In Current Reporting Period

Condensed Consolidated Statement of Cash Flows (Unaudited) - NZD ($) $ in Thousands	6 Months Ended
	Jul. 31, 2018	Jul. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Receipts from customers	$ 65,131	$ 72,931
Payments to suppliers and employees	(69,998)	(81,146)
Proceeds from/(payments for) settlement of financial assets at fair value through profit or loss	655
Income taxes paid	(216)	222
Interest paid	(999)	(442)
Net cash outflow from operating activities	(5,427)	(8,436)
CASH FLOWS FROM INVESTING ACTIVITIES:
Payment for intangible asset	(31)	(16)
Payments for property, plant and equipment	(148)	(656)
Proceeds from business combination, net of cash acquired	592
Net cash (outflow) from investing activities	413	(672)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issue of shares	17,165	12,719
Proceeds from borrowings - Convertible notes issue		1,064
Repayment of borrowings - Bank	(18,489)	(3,837)
Debt issuance costs	(87)	(47)
Net cash inflow from financing activities	(1,411)	9,899
Net increase/(decrease) in cash and cash equivalents held	(6,425)	792
Cash and cash equivalents at beginning of year	10,739	2,644
Effects of exchange rate changes on cash and cash equivalents	(141)	28
Cash and cash equivalents at end of the half year	$ 4,173	$ 3,464

Consolidated Statements of Cash Flows (Bendon Limited) - NZD ($) $ in Thousands	6 Months Ended		7 Months Ended	12 Months Ended
	Jul. 31, 2018	Jul. 31, 2017	Jan. 31, 2017	Jan. 31, 2018	Jun. 30, 2016	Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Receipts from customers	$ 65,131	$ 72,931
Payments to suppliers and employees	(69,998)	(81,146)
Proceeds from/(payments for) settlement of financial assets at fair value through profit or loss	655
Income taxes paid	(216)	222
Net cash (outflow) from operating activities	(5,427)	(8,436)		$ 4,116
CASH FLOWS FROM INVESTING ACTIVITIES:
Payment for intangible asset	(31)	(16)
Payments for property, plant and equipment	(148)	(656)
Net cash (outflow) from investing activities	413	(672)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issue of shares	17,165	12,719
Proceeds from borrowings - Convertible notes issue		1,064
Repayment of borrowings - Bank	(18,489)	(3,837)
Debt issuance costs	(87)	(47)
Net cash inflow from financing activities	(1,411)	9,899
Net increase/(decrease) in cash and cash equivalents held	(6,425)	792
Effects of exchange rate changes on cash and cash equivalents	(141)	28
Bendon Limited [Member]
CASH FLOWS FROM OPERATING ACTIVITIES:
Receipts from customers			$ 92,066	159,042	$ 160,880	$ 158,133
Payments to suppliers and employees			(101,913)	(160,774)	(165,549)	(176,538)
Proceeds from/(payments for) settlement of financial assets at fair value through profit or loss			(3,476)	(2,530)	159	2,055
Income taxes paid			(195)	146	(530)	(849)
Net cash (outflow) from operating activities	5,427		(13,518)	(4,116)	(5,040)	(17,199)
CASH FLOWS FROM INVESTING ACTIVITIES:
Payment for intangible asset			(351)	(118)	(475)	(1,093)
Payments for property, plant and equipment			(723)	(2,194)	(2,703)	(4,701)
Net cash (outflow) from investing activities			(1,074)	(2,312)	(3,178)	(5,794)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issue of shares				22,721
Proceeds from borrowings - Bank			1,940	463	62,127	27,402
Proceeds from borrowings - Convertible notes issue			16,474	4,521
Repayment of borrowings - Bank			(2,832)	(9,684)	(46,986)	(4,286)
Debt issuance costs			(367)	(107)	(750)	(66)
Interest paid			(2,133)	(3,418)	(3,140)	(2,526)
Net cash inflow from financing activities			13,082	14,496	11,251	20,524
Net increase/(decrease) in cash and cash equivalents held			(1,510)	8,068	3,033	(2,469)
Cash and cash equivalents at the beginning of year	$ 10,739	$ 2,644	4,193	2,644	1,246	3,624
Effects of exchange rate changes on cash and cash equivalents			(39)	27	(86)	91
Cash and cash equivalents at the end of the year			$ 2,644	$ 10,739	$ 4,193	$ 1,246

Significant Changes in the Current Reporting Period

6 Months Ended

Jul. 31, 2018

Significant Changes in the Current Reporting Period

1	Significant changes in the current reporting period

	The business continued to experience losses in the 31 July 2018 half year period as a result of reduced revenue from wholesale customers, increased rebates and discounts provided to wholesale customers, and the reduction of sales in retail outlets. The main factor in experiencing these challenging trading conditions was not having adequate inventory in the stores or for wholesale sales due to lack of funding. The business has trade creditors that are trading beyond their original credit terms and has also breached its Bank debt loan covenants which has led to the Company and the Bank commencing negotiations to reset and extend the current loan terms.

	Since the end of the interim reporting period, the business has commenced a process to raise further capital to strengthen the balance sheet, reduce the bank debt, and invest in working capital. Also, the business entered into a Stock Purchase Agreement with the shareholder of FOH Online Corp to acquire the business.

	For a detailed discussion about the Group’s performance and financial position, please refer to our Management Discussion and Analysis.

Description of the Business

6 Months Ended

12 Months Ended

Jul. 31, 2018

Jan. 31, 2018

DescriptionOfBusinessLineItems [Line Items]

Description of the Business

2	Description of the business

	Naked Brand Group Limited (“the Company”) is a designer, distributor, wholesaler and retailer of women’s and men’s intimates apparel globally. The Company sells its merchandise through retail and outlet stores in New Zealand and Australia, wholesale operations in New Zealand, Australia, the United States and Europe, and through online channels. The Company operates both licenced and owned brands, including the following:

	Licenced brands:
	Heidi Klum
	Fredericks of Hollywood

	Owned brands:
	Pleasure State
	Davenport
	Lovable
	Bendon
	Fayreform
	Naked
	VaVoom
	Evollove
	Hickory

	The amounts in the financial statements have been rounded to the nearest thousand dollars.

DescriptionOfBusinessLineItems [Line Items]

Description of the Business

Description of business

Bendon Limited (“the Company”) is a designer, distributor, wholesaler and retailer of women’s and men’s intimates apparel globally. The Company sells its merchandise through retail and outlet stores in New Zealand and Australia, wholesale operations in New Zealand, Australia, the United States and Europe, and through online channels. The Company operates both licenced and owned brands, including the following:

Licenced brands:

Heidi Klum

Stella McCartney

Fredericks of Hollywood

Owned brands:

Pleasure State

Davenport

Lovable

Bendon

Fayreform

VaVoom

Evollove

Hickory

The financial report covers Bendon Limited and its controlled entities (‘the Group’). Bendon Limited is a for-profit Company, incorporated and domiciled in New Zealand.

The financial report was authorised for issue by the Directors on 28June 2018. Since then there have been developments in relation to the going concern described in Note 2(a). Which has been updated in this financial report. This financial report was authorised for issue by the Directors on 21 February 2019.”

Comparatives are consistent with prior periods, unless otherwise stated.

The amounts in the financial statements have been rounded to the nearest thousand dollars.

Basis of Preparation of Half - Year Report

6 Months Ended

Jul. 31, 2018

Basis Of Preparation Of Half - Year Report

Basis of Preparation of Half - Year Report

3	Basis of Preparation of half - year report

	The Company has presented its condensed interim consolidated financial report for the half year-ended 31 July 2018 in accordance with IAS 34 Interim Financial Reporting.

	The Company which was previously Bendon Limited completed a merger with Naked Brand Group Inc. on 19 June 2018 which for accounts purpose was treated as an acquisition such that Bendon Limited is deemed the accounting acquirer of the consolidated group. The financial statements therefore represent a continuation of the Bendon Limited financial statements. The consolidated financial report represents a full half year of Bendon Limited’s financial results plus Naked Brand Group Inc. from the date of acquisition being 19 June 2018 to 31 July 2018. The comparative period represents Bendon Limited and its controlled entities only.

	The interim report does not include all the notes of the type normally included in an annual financial report. Accordingly this report should be read in conjunction with the last annual report for the year ended 31 January 2018 and any public announcement made by the Company during the interim reporting period.

	The accounting policies adopted are consistent with those of the previous financial year and corresponding interim reporting period.

	These interim financial statements is unaudited. In the opinion of management, these interim financial statements include all the adjustments necessary in order to make these interim financial statements not misleading.

	Historical cost convention

	The financial statements are based on historical costs, except for the measurement at fair value of selected financial assets and financial liabilities.

(a)

Going concern

The financial statements have been prepared on the basis of going concern which contemplates continuity of normal business activities and the realisation of assets and settlement of liabilities in the ordinary course of business.

For the financial year ended 31 January 2018 the Group experienced a loss after income tax from continuing operations of NZ$37.593 million and operating cash outflows of NZ$4.116 million. As at 31 January 2018, the business is in a net current liability position of NZ$20.752 million and has negative net assets of $5.710 million.

For the half year ended 31 July 2018 the Group experienced a loss after income tax from continuing operations of NZ$26.094 million and operating cash outflows of NZ$5.427 million. As at 31 July 2018, the business is in a net current liability position of NZ$2.944 million and has net assets of $16.232 million.

The business continued to experience losses in the 31 January 2018 financial year as a result of reduced revenue from wholesale customers, increased rebates and discounts, and the plateauing of sales in retail outlets. The business is experiencing challenging trading conditions which have been impacted by the cancellation of the Stella McCartney licence held by the Company which expired on 30 June 2018, the lack of working capital to purchase sufficient levels of inventory required for trading, reduced customer foot traffic in retail stores and outlets, and a reduction of revenue from wholesale customers. The business has continued to accumulated trade creditors that are trading beyond their original credit terms and has also breached its Bank debt loan covenants during and since the half year period, and has yet to finalise a revised banking facility agreement to provide the company with sufficient funding to continue as a going concern.

In response management has taken steps to raise further capital to fund new inventory that will restock stores and supply wholesale customers and to bring creditors back into term. This capital raising/recapitalisation is continuing at the time of this report. Management has also engaged in restructuring the businesses operations including reducing costs across distribution channels, renegotiating supplier contracts, resetting customer supply commitments, updating leadership roles including appointing a new CEO for the operating business, and managing the opening of new stores. The impact from the proposed capital raising and the restructure will take time generate positive cash flows from operations. The Group expects the business will trend to be cash flow positive by November 2019..

Since the end of the period, the Group has raised further equity which has been used to support the working capital requirements of the Group, reduce the cost of finance, fund the losses and reduce outstanding amounts to aged creditors.

In addition to attempting to raise new capital, the Group has been negotiating a new Bank borrowing facility agreement to replace the facilities last reported as at 31 July 2018.The new facility is expected to be subject to covenants and is likely to be a rolling 12 month facility subject to review at the end of each year. The Group is expecting a term sheet by the end of February 2019.

The Bank facilities last reported as at 31 July 2018 are presented on the Balance Sheet as a current liability due to the facilities having breached covenants. The amount outstanding as at that date amounted to $20m.

The directors have also considered the Loan Agreement from its previous major shareholder Cullen Investments Limited (“Cullen”) and has been advised by Cullen that due to some changes with Cullen’s financial circumstances Cullen is not likely to be a reliable source of funding and as a result the directors have decided to pursue new capital raising activities and not rely on Cullen.

Despite the ongoing losses and the other negative financial conditions, the Directors are confident that the Company will continue as a going concern. However, while the Directors are confident of continuing as a going concern and meeting its debt obligation to its Bank and creditor commitments as they fall due, the going concern is dependent upon the Directors and Company being successful in:

●

Raising further capital of at least NZ$36 million and collecting it between March 2019 and July 2019;

●

Reducing overheads, increasing revenue and gross profit margin that leads to a reduction in the current cash outflow being incurred each month to reach a cash flow positive position by November 2019. ;

●

Renegotiating the current bank facilities of $20 million to a facility that is at least a 12 month facility, reviewed annually, and is subject to amortisation of $2.5 million per quarter commencing April 2019; and

●

Continue to receive support from creditors to delay payment until the company has adequate facilities to commence a repayment arrangement.

As a result the viability of the Group is dependent on the above matters, and there is a substantial doubt about the Company’s ability to continue as a going concern. However, the Directors’ believe that the Group will be successful in the above matters and, accordingly, have prepared the report on a going concern basis.

	(b)	Basis for consolidation

		Subsidiaries

		Subsidiaries are all entities (including structured entities) over which the group has control. The group controls an entity when the group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the group. They are deconsolidated from the date that control ceases.

		Intercompany transactions, balances and unrealised gains on transactions between group companies are eliminated. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the transferred asset. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group.

		Non-controlling interests in the results and equity of subsidiaries are shown separately in the consolidated statement of profit or loss, statement of comprehensive income, statement of changes in equity and balance sheet respectively.

		When the group ceases to consolidate or equity account for an investment because of a loss of control, joint control or significant influence, any retained interest in the entity is remeasured to its fair value with the change in carrying amount recognised in profit or loss. This fair value becomes the initial carrying amount for the purposes of subsequently accounting for the retained interest as an associate, joint venture or financial asset. In addition, any amounts previously recognised in other comprehensive income in respect of that entity are accounted for as if the group had directly disposed of the related assets or liabilities. This may mean that amounts previously recognised in other comprehensive income are reclassified to profit or loss.

		If the ownership interest in a joint venture or an associate is reduced but joint control or significant influence is retained, only a proportionate share of the amounts previously recognised in other comprehensive income are reclassified to profit or loss where appropriate.

	(c)	Business combinations

		Business combinations are accounted for by applying the acquisition method which requires an acquiring entity to be identified in all cases. The acquisition date under this method is the date that the acquiring entity obtains control over the acquired entity.

		The fair value of identifiable assets and liabilities acquired are recognised in the consolidated financial statements at the acquisition date.

		Goodwill or a gain on bargain purchase may arise on the acquisition date, this is calculated by comparing the consideration transferred and the amount of non-controlling interest in the acquiree with the fair value of the net identifiable assets acquired. Where consideration is greater than the net assets acquired, the excess is recorded as goodwill. Where the net assets acquired are greater than the consideration, the measurement basis of the net assets are reassessed and then a gain from bargain purchase recognised in profit or loss.

		All acquisition-related costs are recognised as expenses in the periods in which the costs are incurred except for costs to issue debt or equity securities.

		Any contingent consideration which forms part of the combination is recognised at fair value at the acquisition date. If the contingent consideration is classified as equity then it is not remeasured and the settlement is accounted for within equity. Otherwise subsequent changes in the value of the contingent consideration liability are measured through profit or loss.

	(d)	Income Tax

		The tax expense/(benefit) recognised in the consolidated statements of profit or loss and other comprehensive income comprises of current income tax expense plus deferred tax expense/(benefit).

		Current tax is the amount of income taxes payable/(recoverable) in respect of the taxable profit/(loss) for the period and is measured at the amount expected to be paid to/(recovered from) the taxation authorities, using the tax rates and laws that have been enacted or substantively enacted by each jurisdiction by the end of the reporting period. Current tax liabilities/(assets) are measured at the amounts expected to be paid to/(recovered from) the relevant taxation authority.

		Deferred tax is provided on temporary differences which are determined by comparing the carrying amounts of tax bases of assets and liabilities to the carrying amounts in the consolidated financial statements.

		Deferred tax is not provided for the following:

		●	The initial recognition of an asset or liability in a transaction that is not a business combination and at the time of the transaction, affects neither accounting profit nor taxable profit/(tax loss).
		●	Taxable temporary differences arising on the initial recognition of goodwill.
		●	Temporary differences related to investment in subsidiaries, associates and jointly controlled entities to the extent that the Group is able to control the timing of the reversal of the temporary differences and it is probable that they will not reverse in the foreseeable future.

		Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the period when the asset is realised or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted by each jurisdiction by the end of the reporting period.

		Deferred tax assets are recognised for all deductible temporary differences and unused tax losses to the extent that it is probable that taxable profit will be available against which the deductible temporary differences and losses can be utilised.

		Current and deferred tax is recognised as income or an expense and included in profit or loss for the period except where the tax arises from a transaction which is recognised in other comprehensive income or equity, in which case the tax is recognised in other comprehensive income or equity respectively.

		In determining the amount of current and deferred income tax, the Company takes into account the impact of uncertain income tax positions and whether additional taxes and interest may be due. This assessment relies on estimates and assumptions and may involve a series of judgements about future events. New information may become available that causes the Company to change its judgement regarding the adequacy of existing tax liabilities; such changes to tax liabilities will impact the income tax expense in the period that such a determination is made.

	(e)	Leases

		Leases of fixed assets where substantially all the risks and benefits incidental to the ownership of the asset, but not the legal ownership that are transferred to entities in the Group, are classified as finance leases.

		Finance leases are capitalised by recording an asset and a liability at the lower of the amounts equal to the fair value of the leased property or the present value of the minimum lease payments, including any guaranteed residual values. Lease payments are allocated between the reduction of the lease liability and the lease interest expense for the period.

		Lease payments for operating leases, where substantially all of the risks and benefits remain with the lessor, are charged as expenses on a straight-line basis over the life of the lease term.

		Lease incentives under operating leases are recognised as a liability and amortised on a straight-line basis over the life of the lease term.

	(f)	Revenue and other income

		Revenue is recognised when the amount of the revenue can be measured reliably, it is probable that economic benefits associated with the transaction will flow to the Group and specific criteria relating to the type of revenue as noted below, has been satisfied.

		Revenue is measured at the fair value of the consideration received or receivable and is presented net of returns, discounts and rebates. The Group assess the expected customer returns and rebates according to the specific information in its possession and its past experience in similar cases.

		Sale of goods

		Sales of goods through retail stores, e-commerce and wholesale channels are recognised when there has been a transfer of risk and rewards to the customer. Risks and rewards transfer at point of sale for retail stores sales. For wholesale and e-commerce sales, risks and rewards are transferred when goods are delivered to customers, and therefore reflects an estimate of shipments that have not been received at year end based on shipping terms and historical delivery times. The Company also provides a reserve for projected merchandise returns based on prior experience.

		The Company sells gift cards to customers. The Company recognises revenue from gift cards when they are redeemed by the customers. In addition, the Company recognises revenue on unredeemed gift cards after one year when the gift cards have expired.

		(i) Sale of goods - wholesale

		The Group sells a range of lingerie products in the wholesale market. Sales are recognised when control of the products has transferred, being when the products are delivered to the wholesaler, the wholesaler has full discretion over the channel and price to sell the products, and there is no unfulfilled obligation that could affect the wholesaler’s acceptance of the products. Delivery occurs when the products have been shipped to the specific location, the risks of obsolescence and loss have been transferred to the wholesaler, and either the wholesaler has accepted the products in accordance with the sales contract, the acceptance provisions have lapsed, or the group has objective evidence that all criteria for acceptance have been satisfied.

		The contracts with wholesalers have no specific terms on volume and price, and are not modified during the terms. Revenue from these sales is recognised based on the price specified in the contract, net of the estimated volume discounts. The estimates of discount is based on the trading terms in the contracts, and revenue is only recognised to the extent that it is highly probable that a significant reversal will not occur. A refund liability (included in trade and other payables) is recognised for expected volume payable to customers in relation to sales made until the end of the reporting period. The Group’s obligation to provide a refund for faulty products under the standard trading terms is recognised as a provision.

		(ii) Sale of goods - retail/e-commerce

		The group operates a chain of retail stores and e-commerce websites selling lingerie products. Revenue from the sale of goods is recognised when a group entity sells a product to the customer.

		Payment of the transaction price is due immediately when the customer purchases the product. It is the group’s policy to sell its products to the end customer with a right of return within 30 days. Therefore, a refund liability (included in trade and other payables) and a right to the returned goods (included in inventory) are recognised for the products expected to be returned. Accumulated experience is used to estimate such returns at the time of sale at a portfolio level (expected value method). Because the number of products returned has been steady for years, it is highly probable that a significant reversal in the cumulative revenue recognised will not occur. The validity of this assumption and the estimated amount of returns are reassessed at each reporting date.

		Interest revenue

		Interest is recognised using the effective interest method.

		Dividend revenue

		Dividends are recognised when the entity’s right to receive payment is established.

		Rendering of services

		Revenue from service transactions are recognised as services are performed.

		Other income

		Other income is recognised on an accruals basis when the Group is entitled to it.

	(g)	Brand management, administrative and corporate expenses

		Corporate expenses includes head office costs such as human resources, finance team and rental costs. Administrative expenses includes depreciation and amortisation, as well as professional accounting fees. Brand management expenses includes other costs incurred in selling products, including advertising, design and retail store occupancy and payroll.

	(h)	Borrowing costs

		Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale. Investment income earned on the temporary investment of specific borrowing pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalisation.

		All other borrowing costs are recognised as an expense in the period in which they are incurred.

	(i)	Inventories

		Inventories are measured at the lower of cost and net realisable value. Cost of inventory is determined using the weighted average costs basis and is net of any rebates and discounts received. Net realisable value represents the estimated selling price for inventories less costs necessary to make the sale. Net realisable value is estimated using the most reliable evidence available at the reporting date and inventory is written down through an obsolescence provision if necessary.

	(j)	Property, plant and equipment

		Plant and equipment

		Plant and equipment are measured using the cost model.

		Under the cost model the asset is carried at its cost less any accumulated depreciation and any impairment losses. Costs include purchase price and other directly attributable costs associated with locating the asset to the installation site, where applicable.

		Depreciation

		Property, plant and equipment, is depreciated on a straight-line basis over the assets useful life to the Group, commencing when the asset is ready for use.

		The estimated useful lives used for each class of depreciable asset are shown below:

Fixed asset class	Useful life

Leasehold improvements	1 - 10 years
Plant, furniture, fittings and motor vehicles	3 - 7 years

At the end of each annual reporting period, the depreciation method, useful life and residual value of each asset is reviewed. Any revisions are accounted for prospectively as a change in accounting estimate.

	(k)	Financial instruments

		Financial instruments are recognised initially using trade date accounting, i.e. on the date that the Group becomes party to the contractual provisions of the instrument.

		On initial recognition, all financial instruments are measured at fair value plus transaction costs (except for instruments measured at fair value through profit or loss where transaction costs are expensed as incurred).

		Financial Assets

		(i) Classification

		From 1 February 2018, the group classifies its financial assets in the following measurement categories:

	●	those to be measured subsequently at fair value (either through OCI or through profit or loss), and
	●	those to be measured at amortised cost.

		The classification depends on the entity’s business model for managing the financial assets and the contractual terms of the cash flows.

		For assets measured at fair value, gains and losses will either be recorded in profit or loss or OCI. For investments in equity instruments that are not held for trading, this will depend on whether the group has made an irrevocable election at the time of initial recognition to account for the equity investment at fair value through other comprehensive income (FVOCI).

		The group reclassifies debt investments when and only when its business model for managing those assets changes.

		(ii) Recognition and derecognition

		Regular way purchases and sales of financial assets are recognised on trade-date, the date on which the group commits to purchase or sell the asset. Financial assets are derecognised when the rights to receive cash flows from the financial assets have expired or have been transferred and the group has transferred substantially all the risks and rewards of ownership.

		(iii) Measurement

		At initial recognition, the group measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss (FVPL), transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at FVPL are expensed in profit or loss.

		Financial assets with embedded derivatives are considered in their entirety when determining whether their cash flows are solely payment of principal and interest.

		Debt instruments

		Subsequent measurement of debt instruments depends on the group’s business model for managing the asset and the cash flow characteristics of the asset. There are three measurement categories into which the group classifies its debt instruments:

	●	Amortised cost: Assets that are held for collection of contractual cash flows where those cash flows represent solely payments of principal and interest are measured at amortised cost. Interest income from these financial assets is included in finance income using the effective interest rate method. Any gain or loss arising on derecognition is recognised directly in profit or loss and presented in other gains/(losses) together with foreign exchange gains and losses. Impairment losses are presented as separate line item in the statement of profit or loss.

	●	FVOCI: Assets that are held for collection of contractual cash flows and for selling the financial assets, where the assets’ cash flows represent solely payments of principal and interest, are measured at FVOCI. Movements in the carrying amount are taken through OCI, except for the recognition of impairment gains or losses, interest income and foreign exchange gains and losses which are recognised in profit or loss. When the financial asset is derecognised, the cumulative gain or loss previously recognised in OCI is reclassified from equity to profit or loss and recognised in other gains/(losses). Interest income from these financial assets is included in finance income using the effective interest rate method. Foreign exchange gains and losses are presented in other gains/(losses) and impairment expenses are presented as separate line item in the statement of profit or loss.

	●	FVPL: Assets that do not meet the criteria for amortised cost or FVOCI are measured at FVPL. A gain or loss on a debt investment that is subsequently measured at FVPL is recognised in profit or loss and presented net within other gains/(losses) in the period in which it arises.

		Equity instruments

		The group subsequently measures all equity investments at fair value. Where the group’s management has elected to present fair value gains and losses on equity investments in OCI, there is no subsequent reclassification of fair value gains and losses to profit or loss following the derecognition of the investment. Dividends from such investments continue to be recognised in profit or loss as other income when the group’s right to receive payments is established.

		Changes in the fair value of financial assets at FVPL are recognised in other gains/(losses) in the statement of profit or loss as applicable. Impairment losses (and reversal of impairment losses) on equity investments measured at FVOCI are not reported separately from other changes in fair value.

		(iv) Impairment

		From 1 February 2018, the group assesses on a forward looking basis the expected credit losses associated with its debt instruments carried at amortised cost and FVOCI. The impairment methodology applied depends on whether there has been a significant increase in credit risk.

		For trade receivables, the group applies the simplified approach permitted by IFRS 9, which requires expected lifetime losses to be recognised from initial recognition of the receivables.

		(v) Subsequent measurement

		If there is objective evidence that an impairment loss on financial assets carried at amortised cost has been incurred, the amount of the loss is measured as the difference between the asset’s carrying amount and the present value of the estimated future cash flows discounted at the financial assets original effective interest rate.

		Subsequent recoveries of amounts previously written off are credited against other expenses in profit or loss.

		Financial liabilities

		Financial liabilities are classified as either financial liabilities ‘at fair value through profit or loss’ or other financial liabilities depending on the purpose for which the liability was acquired. Although the Group uses derivative financial instruments in economic hedges of currency and interest rate risk, it does not hedge account for these transactions.

		The Group’s financial liabilities include borrowings, trade and other payables (including finance lease liabilities), which are measured at amortised cost using the effective interest rate method.

		All of the Group’s derivative financial instruments that are not designated as hedging instruments are accounted for at fair value through profit or loss.

	(l)	Impairment of non-financial assets

		At the end of each reporting period the Group determines whether there is an evidence of an impairment indicator for non-financial assets.

		Where an indicator exists and regardless for goodwill, indefinite life intangible assets and intangible assets not yet available for use, the recoverable amount of the asset is estimated.

		Where assets do not operate independently of other assets, the recoverable amount of the relevant cash-generating unit (CGU) is estimated.

		The recoverable amount of an asset or CGU is the higher of the fair value less costs of disposal and the value in use. Value in use is the present value of the future cash flows expected to be derived from an asset or cash-generating unit.

		Where the recoverable amount is less than the carrying amount, an impairment loss is recognised in profit or loss.

		Reversal indicators are considered in subsequent periods for all assets which have suffered an impairment loss, except for goodwill.

	(m)	Cash and cash equivalents

		For the purpose of presentation in the statement of cash flows, cash and cash equivalents includes cash on hand, deposits held at call with financial institutions, other short-term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities in the balance sheet.

	(n)	Trade receivables

		Trade receivables are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method, less provision for impairment.

	(o)	Trade and other payables

		These amounts represent liabilities for goods and services provided to the group prior to the end of financial year which are unpaid. The amounts are unsecured and are usually paid within 30 days of recognition. Trade and other payables are presented as current liabilities unless payment is not due within 12 months after the reporting period. They are recognised initially at their fair value and subsequently measured at amortised cost using the effective interest method.

	(p)	Intangibles

		Goodwill

		Goodwill is carried at cost less accumulated impairment losses. Goodwill is calculated as the excess of the sum of:

		i)	the consideration transferred;
		ii)	any non-controlling interest; and
		iii)	the acquisition date fair value of any previously held equity interest;

		over the acquisition date fair value of net identifiable assets acquired in a business combination.

		The value of goodwill recognised on acquisition of each subsidiary in which the Group holds less than a 100% interest will depend on the method adopted in measuring the aforementioned non-controlling interest. The Group can elect to measure the non-controlling interest in the acquiree either at fair value (‘full goodwill method’) or at the non-controlling interest’s proportionate share of the subsidiary’s identifiable net assets (‘proportionate interest method’). The Group determines which method to adopt for each acquisition.

		Patents and licences

		Separately acquired patents and licences are shown at historical cost. Licenses and customer contracts acquired in a business combination are recognised at fair value at the acquisition date. They have a finite useful life and are subsequently carried at cost less accumulated amortisation and impairment losses. Licence fees have an estimated useful life of 5 years.

		Software

		Software has a finite life and is carried at cost less any accumulated amortisation and impairment losses. It has an estimated useful life of between one and three years.

		Brands

		Brand assets relate to brands owned by the Group that have arisen on historical acquisitions. These assets were initially measured at fair value.

		Brands are considered to have an indefinite life and are therefore not amortised. They are considered to have indefinite lives because there is no foreseeable limit to the period over which the asset is expected to generate net cash flows for the entity. The brands have been in existence for many years, are well established and show no signs of deteriorating. They are assessed for impairment annually or more frequently if impairment indicators exist.

		Amortisation

		Amortisation is recognised in profit or loss on a straight-line basis over the estimated useful lives of intangible assets, other than goodwill and brands, from the date that they are available for use.

		Amortisation methods, useful lives and residual values are reviewed at each reporting date and adjusted if appropriate.

		Goodwill and indefinite life brands are not amortised but are tested for impairment annually or more frequently if impairment indicators exist. Goodwill is allocated to the Group’s cash generating units or groups of cash generating units, which represent the lowest level at which goodwill is monitored but where such level is not larger than an operating segment. Gains and losses on the disposal of an entity include the carrying amount of goodwill related to the entity sold.

	(q)	Employee benefits

		(i)	Short-term obligations

			Liabilities for wages and salaries, including non-monetary benefits and accumulating sick leave that are expected to be settled wholly within 12 months after the end of the period in which the employees render the related service are recognised in respect of employees’ services up to the end of the reporting period and are measured at the amounts expected to be paid when the liabilities are settled. The liabilities are presented as current employee benefit obligations in the balance sheet.

		(ii)	Other long-term employee benefit obligations

			The liabilities for long service leave and annual leave are not expected to be settled wholly within 12 months after the end of the period in which the employees render the related service. They are therefore measured as the present value of expected future payments to be made in respect of services provided by employees up to the end of the reporting period using the projected unit credit method. Consideration is given to expected future wage and salary levels, experience of employee departures and periods of service. Expected future payments are discounted using market yields at the end of the reporting period of high-quality corporate bonds with terms and currencies that match, as closely as possible, the estimated future cash outflows. Remeasurements as a result of experience adjustments and changes in actuarial assumptions are recognised in profit or loss.

		(ii)	Other long-term employee benefit obligations

			The obligations are presented as current liabilities in the balance sheet if the entity does not have an unconditional right to defer settlement for at least twelve months after the reporting period, regardless of when the actual settlement is expected to occur.

	(r)	Provisions

		Provisions are recognised when the Group has a legal or constructive obligation, as a result of past events, for which it is probable that an outflow of economic benefits will result and that outflow can be reliably measured.

		Provisions are measured at the present value of management’s best estimate of the outflow required to settle the obligation at the end of the reporting period. The discount rate used is a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The increase in the provision due to the unwinding of the discount is taken to finance costs in the consolidated statements of profit or loss and other comprehensive income.

		Provisions recognised represent the best estimate of the amounts required to settle the obligation at the end of the reporting period.

		(i)	Lease incentive provision

			Lease contributions include payment for improvements initially funded by the landlord. The improvement asset is capitalised and a provision for the amount of landlord contribution is recognised. The provision is released on a monthly basis over the term of the lease of the property.

		(ii)	Onerous contract provision

			The Group provides for future losses on long-term contracts where it is considered probable that the contract costs are likely to exceed revenues in future years. A provision is required for the present value of future losses. Estimating these future losses involves a number of assumptions about the achievement of contract performance targets and the likely levels of future cost escalation over time.

		(iii)	Make good provision

			The Group is required to restore the lease premises of various retail stores to their original condition at the end of the respective lease terms. Provisions for make good obligations are recognised when the group has a present legal or constructive obligation as a result of past events, it is probable that an outflow of resources will be required to settle the obligation and the amount can be reliably estimated. A provision is recognised for the present value of the estimated expenditure required to remove any leasehold improvements. These costs have been capitalised as part of the cost of leasehold improvements and are amortised over the lease term.

(s)

Earnings/(loss) per share

(i)

Basic earnings/(loss) per share

Basic earnings/(loss) per share is calculated by dividing:

	●	the profit/(loss) attributable to owners of the Company, excluding any costs of servicing equity other than ordinary shares
	●	by the weighted average number of ordinary shares outstanding during the financial year.

(ii) Diluted earnings/(loss) per share

Diluted earnings/(loss) per share adjusts the figures used in the determination of basic earnings per share to take into account:

		●	the after income tax effect of interest and other financing costs associated with dilutive potential ordinary shares, and
		●	the weighted average number of additional ordinary shares that would have been outstanding assuming the conversion of all dilutive potential ordinary shares.

For periods in which the Company has reported net losses, diluted net loss per share attributable to common shareholders is the same as basic net loss per share attributable to common stockholders, since their impact would be anti-dilutive to the calculation of net loss per share.

	(t)	Borrowings

		Borrowings are initially recognised at fair value, net of transaction costs incurred. Borrowings are subsequently measured at amortised cost. Any difference between the proceeds (net of transaction costs) and the redemption amount is recognised in profit or loss over the period of the borrowings using the effective interest method. Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalised as a prepayment for liquidity services and amortised over the period of the facility to which it relates.

Borrowings are removed from the balance sheet when the obligation specified in the contract is discharged, cancelled or expired. The difference between the carrying amount of a financial liability that has been extinguished or transferred to another party and the consideration paid, including any non cash assets transferred or liabilities assumed, is recognised in profit or loss as other income or finance costs.

		Where the terms of a financial liability are renegotiated and the entity issues equity instruments to a creditor to extinguish all or part of the liability (debt for equity swap), a gain or loss is recognised in profit or loss, which is measured as the difference between the carrying amount of the financial liability and the fair value of the equity instruments issued.

		Borrowings are classified as current liabilities unless the Group has an unconditional right to defer settlement of the liability for at least 12 months after the reporting period.

	(u)	Convertible Notes

		On issuance of the convertible notes, an assessment is made to determine whether the convertible notes contain an equity instrument or whether the whole instrument should be classified as a financial liability.

		When it is determined that the whole instrument is a financial liability and no equity instrument is identified (for example for foreign-currency-denominated convertibles notes), the conversion option is separated from the host debt and classified as a derivative liability. The carrying value of the host contract (a contract denominated in a foreign currency) at initial recognition is determined as the difference between the consideration received and the fair value of the embedded derivative. The host contract is subsequently measured at amortised cost using the effective interest rate method. The embedded derivative is subsequently measured at fair value at the end of each reporting period through the profit and loss. The convertible note and the derivative are presented as a single number on the balance sheet within interest-bearing loans and borrowings.

		When it is determined that the instrument contains an equity component based on the terms of the contract, on issuance of the convertible notes, the fair value of the liability component is determined using a market rate for an equivalent non-convertible bond. This amount is classified as a financial liability measured at amortised cost (net of transaction costs) until it is extinguished on conversion or redemption. The remainder of the proceeds is allocated to the conversion option that is recognised and included in equity. Transaction costs are deducted from equity, net of associated income tax. The carrying amount of the conversion option is not re-measured in subsequent years.

	(v)	Share capital

		Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of ordinary shares are recognised as a deduction from equity, net of any tax effects.

	(w)	Foreign currency transactions and balances

		Each of the entities within the Group prepare their financial statements based on the currency of the primary economic environment in which the entity operates (functional currency). The consolidated financial statements are presented in New Zealand dollars which is the parent entity’s functional and presentation currency.

		Transaction and balances

		Foreign currency transactions are recorded at the spot rate on the date of the transaction.

		At the end of the reporting period:

	●	Foreign currency monetary items are translated using the closing foreign currency rate;
	●	Non-monetary items that are measured at historical cost are translated using the exchange rate at the date of the transaction; and
	●	Non-monetary items that are measured at fair value are translated using the rate at the date when fair value was determined.

Exchange differences arising on the settlement of monetary items or on translating monetary items at rates different from those at which they were translated on initial recognition or in prior reporting periods are recognised through profit or loss, except where they relate to an item of other comprehensive income or whether they are deferred in equity as qualifying hedges.

		Group companies

		The financial results and position of foreign operations whose functional currency is different from the Group’s presentation currency are translated as follows:

		●	assets and liabilities are translated at period-end exchange rates prevailing at that reporting date;
		●	income and expenses are translated at average exchange rates for the period where the average rate approximates the rate at the date of the transaction; and
		●	retained earnings are translated at the exchange rates prevailing at the date of the transaction.

Exchange differences arising on translation of foreign operations are transferred directly to the Group’s foreign currency translation reserve in the consolidated balance sheets. These differences are recognised in the consolidated statements of profit or loss and other comprehensive income in the period in which the operation is disposed.

	(x)	New and amended accounting standards adopted by the Group

		A number of new or amended accounting standards become applicable for the current reporting period and the Group had to change it accounting policies as a result of adopting the following accounting standards.

		- IFRS 9 Financial Instruments
		- IFRS 15 Revenue from contract with customers

There were no material impacts on adoption of IFRS 9 and IFRS 15. The other accounting standards did not have any impact on the Group’s accounting policies and did not require retrospective adjustments.

(y)

New Accounting Standards and Interpretations

Certain new accounting standards and interpretations have been published that are not mandatory for 31 July 2018 reporting periods and have not been early adopted by the Group. The Group’s assessment of the impact of these new standards and interpretations is set out below.

Title of Standard	Nature of change	Impact	Mandatory application date/Date of adoption by Group
IFRS 16 Leases	In February 2016 the IASB issued a new standard for leases. This AASB 16 replaces IAS 17. The main impact on lessees is that almost all leases go on balance sheet. This is because the balance sheet distinction between operating and finance leases is removed for lessees. Instead, under the new standard an asset (the right to use the leased item) and a financial liability to pay rentals are recognised. The only exemptions are short-term and low-value leases.	This standard will affect the accounting for the Group’s operating leases. As at the reporting date, the Group has non-cancellable operating lease commitments of $29.9m. However, the Group has not yet determined to what extent these commitments will result in the recognition of an asset and a liability for future payments and how this will affect the Group’s profit and classification of cash flows.	Management is currently assessing the impact of the new rules and believes the adoption of the provisions of this update will have a material impact on the Company’s consolidated financial statements. Mandatory for financial years commencing on or after 1 January 2019. Expected date of adoption by the Group: 1 February 2019.
IFRC 23 Uncertainty over Income Tax Treatments (IFRIC 23)	On June 7, 2017, the IASB issued IFRIC 23, Uncertainty over Income Tax Treatments (“IFRIC 23”). IFRIC 23 clarifies the application of recognition and measurement requirements in IAS 12, Income Taxes, when there is uncertainty over income tax treatments. The IFRIC 23 interpretation specifically addresses whether an entity considers uncertain tax treatments separately; the assumptions an entity makes about the examination of tax treatments by taxation authorities; how an entity determines taxable profit (tax loss), tax bases, unused tax losses, unused tax credits and tax rates; and how an entity considers changes in facts and circumstances.	The Company is currently evaluating the impact of adopting this standard on the consolidated financial statements.	IFRIC 23 is effective for annual periods beginning on or after January 1, 2019, with earlier application permitted.

There are no other standards that are not yet effective and that would be expected to have a material impact on the entity in the current or future reporting periods and on foreseeable future transactions.

	(z)	Operating segments

		Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision maker. The executive directors are the chief operating decision maker, responsible for allocating resources and assessing performance of the operating segments.

Basis of Preparation (Bendon Limited)

6 Months Ended

12 Months Ended

Jul. 31, 2018

Jan. 31, 2018

BasisOfPreparationBendonLimitedLineItems [Line Items]

Basis of Preparation

3	Basis of Preparation of half - year report

	The Company has presented its condensed interim consolidated financial report for the half year-ended 31 July 2018 in accordance with IAS 34 Interim Financial Reporting.

	The Company which was previously Bendon Limited completed a merger with Naked Brand Group Inc. on 19 June 2018 which for accounts purpose was treated as an acquisition such that Bendon Limited is deemed the accounting acquirer of the consolidated group. The financial statements therefore represent a continuation of the Bendon Limited financial statements. The consolidated financial report represents a full half year of Bendon Limited’s financial results plus Naked Brand Group Inc. from the date of acquisition being 19 June 2018 to 31 July 2018. The comparative period represents Bendon Limited and its controlled entities only.

	The interim report does not include all the notes of the type normally included in an annual financial report. Accordingly this report should be read in conjunction with the last annual report for the year ended 31 January 2018 and any public announcement made by the Company during the interim reporting period.

	The accounting policies adopted are consistent with those of the previous financial year and corresponding interim reporting period.

	These interim financial statements is unaudited. In the opinion of management, these interim financial statements include all the adjustments necessary in order to make these interim financial statements not misleading.

	Historical cost convention

	The financial statements are based on historical costs, except for the measurement at fair value of selected financial assets and financial liabilities.

(a)

Going concern

●

Raising further capital of at least NZ$36 million and collecting it between March 2019 and July 2019;

●

Continue to receive support from creditors to delay payment until the company has adequate facilities to commence a repayment arrangement.

	(b)	Basis for consolidation

		Subsidiaries

		Subsidiaries are all entities (including structured entities) over which the group has control. The group controls an entity when the group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the group. They are deconsolidated from the date that control ceases.

		Intercompany transactions, balances and unrealised gains on transactions between group companies are eliminated. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the transferred asset. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group.

		Non-controlling interests in the results and equity of subsidiaries are shown separately in the consolidated statement of profit or loss, statement of comprehensive income, statement of changes in equity and balance sheet respectively.

		When the group ceases to consolidate or equity account for an investment because of a loss of control, joint control or significant influence, any retained interest in the entity is remeasured to its fair value with the change in carrying amount recognised in profit or loss. This fair value becomes the initial carrying amount for the purposes of subsequently accounting for the retained interest as an associate, joint venture or financial asset. In addition, any amounts previously recognised in other comprehensive income in respect of that entity are accounted for as if the group had directly disposed of the related assets or liabilities. This may mean that amounts previously recognised in other comprehensive income are reclassified to profit or loss.

		If the ownership interest in a joint venture or an associate is reduced but joint control or significant influence is retained, only a proportionate share of the amounts previously recognised in other comprehensive income are reclassified to profit or loss where appropriate.

	(c)	Business combinations

		Business combinations are accounted for by applying the acquisition method which requires an acquiring entity to be identified in all cases. The acquisition date under this method is the date that the acquiring entity obtains control over the acquired entity.

		The fair value of identifiable assets and liabilities acquired are recognised in the consolidated financial statements at the acquisition date.

		Goodwill or a gain on bargain purchase may arise on the acquisition date, this is calculated by comparing the consideration transferred and the amount of non-controlling interest in the acquiree with the fair value of the net identifiable assets acquired. Where consideration is greater than the net assets acquired, the excess is recorded as goodwill. Where the net assets acquired are greater than the consideration, the measurement basis of the net assets are reassessed and then a gain from bargain purchase recognised in profit or loss.

		All acquisition-related costs are recognised as expenses in the periods in which the costs are incurred except for costs to issue debt or equity securities.

		Any contingent consideration which forms part of the combination is recognised at fair value at the acquisition date. If the contingent consideration is classified as equity then it is not remeasured and the settlement is accounted for within equity. Otherwise subsequent changes in the value of the contingent consideration liability are measured through profit or loss.

	(d)	Income Tax

		The tax expense/(benefit) recognised in the consolidated statements of profit or loss and other comprehensive income comprises of current income tax expense plus deferred tax expense/(benefit).

		Current tax is the amount of income taxes payable/(recoverable) in respect of the taxable profit/(loss) for the period and is measured at the amount expected to be paid to/(recovered from) the taxation authorities, using the tax rates and laws that have been enacted or substantively enacted by each jurisdiction by the end of the reporting period. Current tax liabilities/(assets) are measured at the amounts expected to be paid to/(recovered from) the relevant taxation authority.

		Deferred tax is provided on temporary differences which are determined by comparing the carrying amounts of tax bases of assets and liabilities to the carrying amounts in the consolidated financial statements.

		Deferred tax is not provided for the following:

		●	The initial recognition of an asset or liability in a transaction that is not a business combination and at the time of the transaction, affects neither accounting profit nor taxable profit/(tax loss).
		●	Taxable temporary differences arising on the initial recognition of goodwill.
		●	Temporary differences related to investment in subsidiaries, associates and jointly controlled entities to the extent that the Group is able to control the timing of the reversal of the temporary differences and it is probable that they will not reverse in the foreseeable future.

		Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the period when the asset is realised or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted by each jurisdiction by the end of the reporting period.

		Deferred tax assets are recognised for all deductible temporary differences and unused tax losses to the extent that it is probable that taxable profit will be available against which the deductible temporary differences and losses can be utilised.

		Current and deferred tax is recognised as income or an expense and included in profit or loss for the period except where the tax arises from a transaction which is recognised in other comprehensive income or equity, in which case the tax is recognised in other comprehensive income or equity respectively.

		In determining the amount of current and deferred income tax, the Company takes into account the impact of uncertain income tax positions and whether additional taxes and interest may be due. This assessment relies on estimates and assumptions and may involve a series of judgements about future events. New information may become available that causes the Company to change its judgement regarding the adequacy of existing tax liabilities; such changes to tax liabilities will impact the income tax expense in the period that such a determination is made.

	(e)	Leases

		Leases of fixed assets where substantially all the risks and benefits incidental to the ownership of the asset, but not the legal ownership that are transferred to entities in the Group, are classified as finance leases.

		Finance leases are capitalised by recording an asset and a liability at the lower of the amounts equal to the fair value of the leased property or the present value of the minimum lease payments, including any guaranteed residual values. Lease payments are allocated between the reduction of the lease liability and the lease interest expense for the period.

		Lease payments for operating leases, where substantially all of the risks and benefits remain with the lessor, are charged as expenses on a straight-line basis over the life of the lease term.

		Lease incentives under operating leases are recognised as a liability and amortised on a straight-line basis over the life of the lease term.

	(f)	Revenue and other income

		Revenue is recognised when the amount of the revenue can be measured reliably, it is probable that economic benefits associated with the transaction will flow to the Group and specific criteria relating to the type of revenue as noted below, has been satisfied.

		Revenue is measured at the fair value of the consideration received or receivable and is presented net of returns, discounts and rebates. The Group assess the expected customer returns and rebates according to the specific information in its possession and its past experience in similar cases.

		Sale of goods

		Sales of goods through retail stores, e-commerce and wholesale channels are recognised when there has been a transfer of risk and rewards to the customer. Risks and rewards transfer at point of sale for retail stores sales. For wholesale and e-commerce sales, risks and rewards are transferred when goods are delivered to customers, and therefore reflects an estimate of shipments that have not been received at year end based on shipping terms and historical delivery times. The Company also provides a reserve for projected merchandise returns based on prior experience.

		The Company sells gift cards to customers. The Company recognises revenue from gift cards when they are redeemed by the customers. In addition, the Company recognises revenue on unredeemed gift cards after one year when the gift cards have expired.

		(i) Sale of goods - wholesale

		The Group sells a range of lingerie products in the wholesale market. Sales are recognised when control of the products has transferred, being when the products are delivered to the wholesaler, the wholesaler has full discretion over the channel and price to sell the products, and there is no unfulfilled obligation that could affect the wholesaler’s acceptance of the products. Delivery occurs when the products have been shipped to the specific location, the risks of obsolescence and loss have been transferred to the wholesaler, and either the wholesaler has accepted the products in accordance with the sales contract, the acceptance provisions have lapsed, or the group has objective evidence that all criteria for acceptance have been satisfied.

		The contracts with wholesalers have no specific terms on volume and price, and are not modified during the terms. Revenue from these sales is recognised based on the price specified in the contract, net of the estimated volume discounts. The estimates of discount is based on the trading terms in the contracts, and revenue is only recognised to the extent that it is highly probable that a significant reversal will not occur. A refund liability (included in trade and other payables) is recognised for expected volume payable to customers in relation to sales made until the end of the reporting period. The Group’s obligation to provide a refund for faulty products under the standard trading terms is recognised as a provision.

		(ii) Sale of goods - retail/e-commerce

		The group operates a chain of retail stores and e-commerce websites selling lingerie products. Revenue from the sale of goods is recognised when a group entity sells a product to the customer.

		Payment of the transaction price is due immediately when the customer purchases the product. It is the group’s policy to sell its products to the end customer with a right of return within 30 days. Therefore, a refund liability (included in trade and other payables) and a right to the returned goods (included in inventory) are recognised for the products expected to be returned. Accumulated experience is used to estimate such returns at the time of sale at a portfolio level (expected value method). Because the number of products returned has been steady for years, it is highly probable that a significant reversal in the cumulative revenue recognised will not occur. The validity of this assumption and the estimated amount of returns are reassessed at each reporting date.

		Interest revenue

		Interest is recognised using the effective interest method.

		Dividend revenue

		Dividends are recognised when the entity’s right to receive payment is established.

		Rendering of services

		Revenue from service transactions are recognised as services are performed.

		Other income

		Other income is recognised on an accruals basis when the Group is entitled to it.

	(g)	Brand management, administrative and corporate expenses

		Corporate expenses includes head office costs such as human resources, finance team and rental costs. Administrative expenses includes depreciation and amortisation, as well as professional accounting fees. Brand management expenses includes other costs incurred in selling products, including advertising, design and retail store occupancy and payroll.

	(h)	Borrowing costs

		Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale. Investment income earned on the temporary investment of specific borrowing pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalisation.

		All other borrowing costs are recognised as an expense in the period in which they are incurred.

	(i)	Inventories

		Inventories are measured at the lower of cost and net realisable value. Cost of inventory is determined using the weighted average costs basis and is net of any rebates and discounts received. Net realisable value represents the estimated selling price for inventories less costs necessary to make the sale. Net realisable value is estimated using the most reliable evidence available at the reporting date and inventory is written down through an obsolescence provision if necessary.

	(j)	Property, plant and equipment

		Plant and equipment

		Plant and equipment are measured using the cost model.

		Under the cost model the asset is carried at its cost less any accumulated depreciation and any impairment losses. Costs include purchase price and other directly attributable costs associated with locating the asset to the installation site, where applicable.

		Depreciation

		Property, plant and equipment, is depreciated on a straight-line basis over the assets useful life to the Group, commencing when the asset is ready for use.

		The estimated useful lives used for each class of depreciable asset are shown below:

Fixed asset class	Useful life

Leasehold improvements	1 - 10 years
Plant, furniture, fittings and motor vehicles	3 - 7 years

	(k)	Financial instruments

		Financial instruments are recognised initially using trade date accounting, i.e. on the date that the Group becomes party to the contractual provisions of the instrument.

		On initial recognition, all financial instruments are measured at fair value plus transaction costs (except for instruments measured at fair value through profit or loss where transaction costs are expensed as incurred).

		Financial Assets

		(i) Classification

		From 1 February 2018, the group classifies its financial assets in the following measurement categories:

	●	those to be measured subsequently at fair value (either through OCI or through profit or loss), and
	●	those to be measured at amortised cost.

		The classification depends on the entity’s business model for managing the financial assets and the contractual terms of the cash flows.

		For assets measured at fair value, gains and losses will either be recorded in profit or loss or OCI. For investments in equity instruments that are not held for trading, this will depend on whether the group has made an irrevocable election at the time of initial recognition to account for the equity investment at fair value through other comprehensive income (FVOCI).

		The group reclassifies debt investments when and only when its business model for managing those assets changes.

		(ii) Recognition and derecognition

		Regular way purchases and sales of financial assets are recognised on trade-date, the date on which the group commits to purchase or sell the asset. Financial assets are derecognised when the rights to receive cash flows from the financial assets have expired or have been transferred and the group has transferred substantially all the risks and rewards of ownership.

		(iii) Measurement

		At initial recognition, the group measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss (FVPL), transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at FVPL are expensed in profit or loss.

		Financial assets with embedded derivatives are considered in their entirety when determining whether their cash flows are solely payment of principal and interest.

		Debt instruments

		Subsequent measurement of debt instruments depends on the group’s business model for managing the asset and the cash flow characteristics of the asset. There are three measurement categories into which the group classifies its debt instruments:

	●	Amortised cost: Assets that are held for collection of contractual cash flows where those cash flows represent solely payments of principal and interest are measured at amortised cost. Interest income from these financial assets is included in finance income using the effective interest rate method. Any gain or loss arising on derecognition is recognised directly in profit or loss and presented in other gains/(losses) together with foreign exchange gains and losses. Impairment losses are presented as separate line item in the statement of profit or loss.

	●	FVOCI: Assets that are held for collection of contractual cash flows and for selling the financial assets, where the assets’ cash flows represent solely payments of principal and interest, are measured at FVOCI. Movements in the carrying amount are taken through OCI, except for the recognition of impairment gains or losses, interest income and foreign exchange gains and losses which are recognised in profit or loss. When the financial asset is derecognised, the cumulative gain or loss previously recognised in OCI is reclassified from equity to profit or loss and recognised in other gains/(losses). Interest income from these financial assets is included in finance income using the effective interest rate method. Foreign exchange gains and losses are presented in other gains/(losses) and impairment expenses are presented as separate line item in the statement of profit or loss.

	●	FVPL: Assets that do not meet the criteria for amortised cost or FVOCI are measured at FVPL. A gain or loss on a debt investment that is subsequently measured at FVPL is recognised in profit or loss and presented net within other gains/(losses) in the period in which it arises.

		Equity instruments

		The group subsequently measures all equity investments at fair value. Where the group’s management has elected to present fair value gains and losses on equity investments in OCI, there is no subsequent reclassification of fair value gains and losses to profit or loss following the derecognition of the investment. Dividends from such investments continue to be recognised in profit or loss as other income when the group’s right to receive payments is established.

		Changes in the fair value of financial assets at FVPL are recognised in other gains/(losses) in the statement of profit or loss as applicable. Impairment losses (and reversal of impairment losses) on equity investments measured at FVOCI are not reported separately from other changes in fair value.

		(iv) Impairment

		From 1 February 2018, the group assesses on a forward looking basis the expected credit losses associated with its debt instruments carried at amortised cost and FVOCI. The impairment methodology applied depends on whether there has been a significant increase in credit risk.

		For trade receivables, the group applies the simplified approach permitted by IFRS 9, which requires expected lifetime losses to be recognised from initial recognition of the receivables.

		(v) Subsequent measurement

		If there is objective evidence that an impairment loss on financial assets carried at amortised cost has been incurred, the amount of the loss is measured as the difference between the asset’s carrying amount and the present value of the estimated future cash flows discounted at the financial assets original effective interest rate.

		Subsequent recoveries of amounts previously written off are credited against other expenses in profit or loss.

		Financial liabilities

		Financial liabilities are classified as either financial liabilities ‘at fair value through profit or loss’ or other financial liabilities depending on the purpose for which the liability was acquired. Although the Group uses derivative financial instruments in economic hedges of currency and interest rate risk, it does not hedge account for these transactions.

		The Group’s financial liabilities include borrowings, trade and other payables (including finance lease liabilities), which are measured at amortised cost using the effective interest rate method.

		All of the Group’s derivative financial instruments that are not designated as hedging instruments are accounted for at fair value through profit or loss.

	(l)	Impairment of non-financial assets

		At the end of each reporting period the Group determines whether there is an evidence of an impairment indicator for non-financial assets.

		Where an indicator exists and regardless for goodwill, indefinite life intangible assets and intangible assets not yet available for use, the recoverable amount of the asset is estimated.

		Where assets do not operate independently of other assets, the recoverable amount of the relevant cash-generating unit (CGU) is estimated.

		The recoverable amount of an asset or CGU is the higher of the fair value less costs of disposal and the value in use. Value in use is the present value of the future cash flows expected to be derived from an asset or cash-generating unit.

		Where the recoverable amount is less than the carrying amount, an impairment loss is recognised in profit or loss.

		Reversal indicators are considered in subsequent periods for all assets which have suffered an impairment loss, except for goodwill.

	(m)	Cash and cash equivalents

		For the purpose of presentation in the statement of cash flows, cash and cash equivalents includes cash on hand, deposits held at call with financial institutions, other short-term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities in the balance sheet.

	(n)	Trade receivables

		Trade receivables are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method, less provision for impairment.

	(o)	Trade and other payables

		These amounts represent liabilities for goods and services provided to the group prior to the end of financial year which are unpaid. The amounts are unsecured and are usually paid within 30 days of recognition. Trade and other payables are presented as current liabilities unless payment is not due within 12 months after the reporting period. They are recognised initially at their fair value and subsequently measured at amortised cost using the effective interest method.

	(p)	Intangibles

		Goodwill

		Goodwill is carried at cost less accumulated impairment losses. Goodwill is calculated as the excess of the sum of:

		i)	the consideration transferred;
		ii)	any non-controlling interest; and
		iii)	the acquisition date fair value of any previously held equity interest;

		over the acquisition date fair value of net identifiable assets acquired in a business combination.

		The value of goodwill recognised on acquisition of each subsidiary in which the Group holds less than a 100% interest will depend on the method adopted in measuring the aforementioned non-controlling interest. The Group can elect to measure the non-controlling interest in the acquiree either at fair value (‘full goodwill method’) or at the non-controlling interest’s proportionate share of the subsidiary’s identifiable net assets (‘proportionate interest method’). The Group determines which method to adopt for each acquisition.

		Patents and licences

		Separately acquired patents and licences are shown at historical cost. Licenses and customer contracts acquired in a business combination are recognised at fair value at the acquisition date. They have a finite useful life and are subsequently carried at cost less accumulated amortisation and impairment losses. Licence fees have an estimated useful life of 5 years.

		Software

		Software has a finite life and is carried at cost less any accumulated amortisation and impairment losses. It has an estimated useful life of between one and three years.

		Brands

		Brand assets relate to brands owned by the Group that have arisen on historical acquisitions. These assets were initially measured at fair value.

		Brands are considered to have an indefinite life and are therefore not amortised. They are considered to have indefinite lives because there is no foreseeable limit to the period over which the asset is expected to generate net cash flows for the entity. The brands have been in existence for many years, are well established and show no signs of deteriorating. They are assessed for impairment annually or more frequently if impairment indicators exist.

		Amortisation

		Amortisation is recognised in profit or loss on a straight-line basis over the estimated useful lives of intangible assets, other than goodwill and brands, from the date that they are available for use.

		Amortisation methods, useful lives and residual values are reviewed at each reporting date and adjusted if appropriate.

		Goodwill and indefinite life brands are not amortised but are tested for impairment annually or more frequently if impairment indicators exist. Goodwill is allocated to the Group’s cash generating units or groups of cash generating units, which represent the lowest level at which goodwill is monitored but where such level is not larger than an operating segment. Gains and losses on the disposal of an entity include the carrying amount of goodwill related to the entity sold.

	(q)	Employee benefits

		(i)	Short-term obligations

			Liabilities for wages and salaries, including non-monetary benefits and accumulating sick leave that are expected to be settled wholly within 12 months after the end of the period in which the employees render the related service are recognised in respect of employees’ services up to the end of the reporting period and are measured at the amounts expected to be paid when the liabilities are settled. The liabilities are presented as current employee benefit obligations in the balance sheet.

		(ii)	Other long-term employee benefit obligations

			The liabilities for long service leave and annual leave are not expected to be settled wholly within 12 months after the end of the period in which the employees render the related service. They are therefore measured as the present value of expected future payments to be made in respect of services provided by employees up to the end of the reporting period using the projected unit credit method. Consideration is given to expected future wage and salary levels, experience of employee departures and periods of service. Expected future payments are discounted using market yields at the end of the reporting period of high-quality corporate bonds with terms and currencies that match, as closely as possible, the estimated future cash outflows. Remeasurements as a result of experience adjustments and changes in actuarial assumptions are recognised in profit or loss.

		(ii)	Other long-term employee benefit obligations

			The obligations are presented as current liabilities in the balance sheet if the entity does not have an unconditional right to defer settlement for at least twelve months after the reporting period, regardless of when the actual settlement is expected to occur.

	(r)	Provisions

		Provisions are recognised when the Group has a legal or constructive obligation, as a result of past events, for which it is probable that an outflow of economic benefits will result and that outflow can be reliably measured.

		Provisions are measured at the present value of management’s best estimate of the outflow required to settle the obligation at the end of the reporting period. The discount rate used is a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The increase in the provision due to the unwinding of the discount is taken to finance costs in the consolidated statements of profit or loss and other comprehensive income.

		Provisions recognised represent the best estimate of the amounts required to settle the obligation at the end of the reporting period.

		(i)	Lease incentive provision

			Lease contributions include payment for improvements initially funded by the landlord. The improvement asset is capitalised and a provision for the amount of landlord contribution is recognised. The provision is released on a monthly basis over the term of the lease of the property.

		(ii)	Onerous contract provision

			The Group provides for future losses on long-term contracts where it is considered probable that the contract costs are likely to exceed revenues in future years. A provision is required for the present value of future losses. Estimating these future losses involves a number of assumptions about the achievement of contract performance targets and the likely levels of future cost escalation over time.

		(iii)	Make good provision

			The Group is required to restore the lease premises of various retail stores to their original condition at the end of the respective lease terms. Provisions for make good obligations are recognised when the group has a present legal or constructive obligation as a result of past events, it is probable that an outflow of resources will be required to settle the obligation and the amount can be reliably estimated. A provision is recognised for the present value of the estimated expenditure required to remove any leasehold improvements. These costs have been capitalised as part of the cost of leasehold improvements and are amortised over the lease term.

(s)

Earnings/(loss) per share

(i)

Basic earnings/(loss) per share

Basic earnings/(loss) per share is calculated by dividing:

	●	the profit/(loss) attributable to owners of the Company, excluding any costs of servicing equity other than ordinary shares
	●	by the weighted average number of ordinary shares outstanding during the financial year.

(ii) Diluted earnings/(loss) per share

Diluted earnings/(loss) per share adjusts the figures used in the determination of basic earnings per share to take into account:

		●	the after income tax effect of interest and other financing costs associated with dilutive potential ordinary shares, and
		●	the weighted average number of additional ordinary shares that would have been outstanding assuming the conversion of all dilutive potential ordinary shares.

	(t)	Borrowings

		Borrowings are initially recognised at fair value, net of transaction costs incurred. Borrowings are subsequently measured at amortised cost. Any difference between the proceeds (net of transaction costs) and the redemption amount is recognised in profit or loss over the period of the borrowings using the effective interest method. Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalised as a prepayment for liquidity services and amortised over the period of the facility to which it relates.

		Where the terms of a financial liability are renegotiated and the entity issues equity instruments to a creditor to extinguish all or part of the liability (debt for equity swap), a gain or loss is recognised in profit or loss, which is measured as the difference between the carrying amount of the financial liability and the fair value of the equity instruments issued.

		Borrowings are classified as current liabilities unless the Group has an unconditional right to defer settlement of the liability for at least 12 months after the reporting period.

	(u)	Convertible Notes

		On issuance of the convertible notes, an assessment is made to determine whether the convertible notes contain an equity instrument or whether the whole instrument should be classified as a financial liability.

		When it is determined that the whole instrument is a financial liability and no equity instrument is identified (for example for foreign-currency-denominated convertibles notes), the conversion option is separated from the host debt and classified as a derivative liability. The carrying value of the host contract (a contract denominated in a foreign currency) at initial recognition is determined as the difference between the consideration received and the fair value of the embedded derivative. The host contract is subsequently measured at amortised cost using the effective interest rate method. The embedded derivative is subsequently measured at fair value at the end of each reporting period through the profit and loss. The convertible note and the derivative are presented as a single number on the balance sheet within interest-bearing loans and borrowings.

		When it is determined that the instrument contains an equity component based on the terms of the contract, on issuance of the convertible notes, the fair value of the liability component is determined using a market rate for an equivalent non-convertible bond. This amount is classified as a financial liability measured at amortised cost (net of transaction costs) until it is extinguished on conversion or redemption. The remainder of the proceeds is allocated to the conversion option that is recognised and included in equity. Transaction costs are deducted from equity, net of associated income tax. The carrying amount of the conversion option is not re-measured in subsequent years.

	(v)	Share capital

		Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of ordinary shares are recognised as a deduction from equity, net of any tax effects.

	(w)	Foreign currency transactions and balances

		Each of the entities within the Group prepare their financial statements based on the currency of the primary economic environment in which the entity operates (functional currency). The consolidated financial statements are presented in New Zealand dollars which is the parent entity’s functional and presentation currency.

		Transaction and balances

		Foreign currency transactions are recorded at the spot rate on the date of the transaction.

		At the end of the reporting period:

	●	Foreign currency monetary items are translated using the closing foreign currency rate;
	●	Non-monetary items that are measured at historical cost are translated using the exchange rate at the date of the transaction; and
	●	Non-monetary items that are measured at fair value are translated using the rate at the date when fair value was determined.

		Group companies

		The financial results and position of foreign operations whose functional currency is different from the Group’s presentation currency are translated as follows:

		●	assets and liabilities are translated at period-end exchange rates prevailing at that reporting date;
		●	income and expenses are translated at average exchange rates for the period where the average rate approximates the rate at the date of the transaction; and
		●	retained earnings are translated at the exchange rates prevailing at the date of the transaction.

	(x)	New and amended accounting standards adopted by the Group

		A number of new or amended accounting standards become applicable for the current reporting period and the Group had to change it accounting policies as a result of adopting the following accounting standards.

		- IFRS 9 Financial Instruments
		- IFRS 15 Revenue from contract with customers

(y)

New Accounting Standards and Interpretations

Title of Standard	Nature of change	Impact	Mandatory application date/Date of adoption by Group
IFRS 16 Leases	In February 2016 the IASB issued a new standard for leases. This AASB 16 replaces IAS 17. The main impact on lessees is that almost all leases go on balance sheet. This is because the balance sheet distinction between operating and finance leases is removed for lessees. Instead, under the new standard an asset (the right to use the leased item) and a financial liability to pay rentals are recognised. The only exemptions are short-term and low-value leases.	This standard will affect the accounting for the Group’s operating leases. As at the reporting date, the Group has non-cancellable operating lease commitments of $29.9m. However, the Group has not yet determined to what extent these commitments will result in the recognition of an asset and a liability for future payments and how this will affect the Group’s profit and classification of cash flows.	Management is currently assessing the impact of the new rules and believes the adoption of the provisions of this update will have a material impact on the Company’s consolidated financial statements. Mandatory for financial years commencing on or after 1 January 2019. Expected date of adoption by the Group: 1 February 2019.
IFRC 23 Uncertainty over Income Tax Treatments (IFRIC 23)	On June 7, 2017, the IASB issued IFRIC 23, Uncertainty over Income Tax Treatments (“IFRIC 23”). IFRIC 23 clarifies the application of recognition and measurement requirements in IAS 12, Income Taxes, when there is uncertainty over income tax treatments. The IFRIC 23 interpretation specifically addresses whether an entity considers uncertain tax treatments separately; the assumptions an entity makes about the examination of tax treatments by taxation authorities; how an entity determines taxable profit (tax loss), tax bases, unused tax losses, unused tax credits and tax rates; and how an entity considers changes in facts and circumstances.	The Company is currently evaluating the impact of adopting this standard on the consolidated financial statements.	IFRIC 23 is effective for annual periods beginning on or after January 1, 2019, with earlier application permitted.

	(z)	Operating segments

		Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision maker. The executive directors are the chief operating decision maker, responsible for allocating resources and assessing performance of the operating segments.

BasisOfPreparationBendonLimitedLineItems [Line Items]

Basis of Preparation

Basis of Preparation

The Company has presented its consolidated financial statements as of 31 January 2018, 31 January 2017, 30 June 2016 and 30 June 2015 and the periods then ended in accordance with Tier 1 For- Profit Accounting Standards, NZ IFRS, which are also in compliance with IFRS as issued by the IASB and collectively refer to international accounting and financial reporting standards (IASs and IFRSs) and to interpretations of the Interpretations Committees (SIC and IFRIC) for their filing into New Zealand Companies Office.

The consolidated financial statements as of 31 January 2018, 31 January 2017, 30 June 2016 and 30 June 2015 and for the periods then ended are in compliance with IFRS as issued by the IASB.

(a)

Historical cost convention

The financial statements are based on historical costs, except for the measurement at fair value of selected financial assets and financial liabilities.

Changes in Accounting Policies

6 Months Ended

Jul. 31, 2018

Changes In Accounting Policies

Changes in Accounting Policies

4	Changes in accounting policies

	This note explains the impact of the adoption of IFRS 9 Financial Instruments and IFRS 15 Revenue from Contracts with Customers on the group’s financial statements and also discloses the new accounting policies that have been applied from 1 February 2018, where they are different to those applied in prior periods.

	(a)	Impact on the financial statements

		There were no impacts on the Group’s accounting policies on adoption of IFRS 9 and IFRS 15, and no retrospective adjustments required either.

	(b)	IFRS 9 Financial Instruments – Accounting policies applied from 1 February 2018

		Impairment

		For trade receivables, the group applies the simplified approach permitted by IFRS 9, which requires expected lifetime losses to be recognised from initial recognition of the receivables.

	(c)	IFRS 15 Revenue from Contracts with Customers – Accounting policies

		(i) Sale of goods - wholesale

		The Group sells a range of lingerie products in the wholesale market. Sales are recognised when control of the products has transferred, being when the products are delivered to the wholesaler, the wholesaler has full discretion over the channel and price to sell the products, and there is no unfulfilled obligation that could affect the wholesaler’s acceptance of the products. Delivery occurs when the products have been shipped to the specific location, the risks of obsolescence and loss have been transferred to the wholesaler, and either the wholesaler has accepted the products in accordance with the sales contract, the acceptance provisions have lapsed, or the group has objective evidence that all criteria for acceptance have been satisfied.

		The contracts with wholesalers have no specific terms on volume and price, and are not modified during the terms. Revenue from these sales is recognised based on the price specified in the contract, net of the estimated volume discounts. The estimates of discount is based on the trading terms in the contracts, and revenue is only recognised to the extent that it is highly probable that a significant reversal will not occur. A refund liability (included in trade and other payables) is recognised for expected volume payable to customers in relation to sales made until the end of the reporting period. The Group’s obligation to provide a refund for faulty products under the standard trading terms is recognised as a provision.

		(ii) Sale of goods - retail/e-commerce

		The group operates a chain of retail stores and e-commerce websites selling lingerie products. Revenue from the sale of goods is recognised when a group entity sells a product to the customer.

		Payment of the transaction price is due immediately when the customer purchases the product. It is the group’s policy to sell its products to the end customer with a right of return within 30 days. Therefore, a refund liability (included in trade and other payables) and a right to the returned goods (included in inventory) are recognised for the products expected to be returned. Accumulated experience is used to estimate such returns at the time of sale at a portfolio level (expected value method). Because the number of products returned has been steady for years, it is highly probable that a significant reversal in the cumulative revenue recognised will not occur. The validity of this assumption and the estimated amount of returns are reassessed at each reporting date.

Summary of Significant Accounting Policies (Bendon Limited)

12 Months Ended

Jan. 31, 2018

SummaryOfSignificantAccountingPoliciesLineItems [Line Items]

Summary of Significant Accounting Policies

Summary of Significant Accounting Policies

(a)

Going concern

●

Raising further capital of at least NZ$36 million and collecting it between March 2019 and July 2019;

●

Continue to receive support from creditors to delay payment until the company has adequate facilities to commence a repayment arrangement.

(b)

Basis for consolidation

Subsidiaries

Subsidiaries are all entities (including structured entities) over which the group has control. The group controls an entity when the group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the group. They are deconsolidated from the date that control ceases.

Intercompany transactions, balances and unrealised gains on transactions between group companies are eliminated. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the transferred asset. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group.

Non-controlling interests in the results and equity of subsidiaries are shown separately in the consolidated statement of profit or loss, statement of comprehensive income, statement of changes in equity and balance sheet respectively.

When the group ceases to consolidate or equity account for an investment because of a loss of control, joint control or significant influence, any retained interest in the entity is remeasured to its fair value with the change in carrying amount recognised in profit or loss. This fair value becomes the initial carrying amount for the purposes of subsequently accounting for the retained interest as an associate, joint venture or financial asset. In addition, any amounts previously recognised in other comprehensive income in respect of that entity are accounted for as if the group had directly disposed of the related assets or liabilities. This may mean that amounts previously recognised in other comprehensive income are reclassified to profit or loss.

If the ownership interest in a joint venture or an associate is reduced but joint control or significant influence is retained, only a proportionate share of the amounts previously recognised in other comprehensive income are reclassified to profit or loss where appropriate.

(c)

Business combinations

Business combinations are accounted for by applying the acquisition method which requires an acquiring entity to be identified in all cases. The acquisition date under this method is the date that the acquiring entity obtains control over the acquired entity.

The fair value of identifiable assets and liabilities acquired are recognised in the consolidated financial statements at the acquisition date.

Goodwill or a gain on bargain purchase may arise on the acquisition date, this is calculated by comparing the consideration transferred and the amount of non-controlling interest in the acquiree with the fair value of the net identifiable assets acquired. Where consideration is greater than the net assets acquired, the excess is recorded as goodwill. Where the net assets acquired are greater than the consideration, the measurement basis of the net assets are reassessed and then a gain from bargain purchase recognised in profit or loss.

All acquisition-related costs are recognised as expenses in the periods in which the costs are incurred except for costs to issue debt or equity securities.

Any contingent consideration which forms part of the combination is recognised at fair value at the acquisition date. If the contingent consideration is classified as equity then it is not remeasured and the settlement is accounted for within equity. Otherwise subsequent changes in the value of the contingent consideration liability are measured through profit or loss.

(d)

Income Tax

The tax expense/(benefit) recognised in the consolidated statements of profit or loss and other comprehensive income comprises of current income tax expense plus deferred tax expense/(benefit).

Current tax is the amount of income taxes payable/(recoverable) in respect of the taxable profit/(loss) for the period and is measured at the amount expected to be paid to/(recovered from) the taxation authorities, using the tax rates and laws that have been enacted or substantively enacted by each jurisdiction by the end of the reporting period. Current tax liabilities/(assets) are measured at the amounts expected to be paid to/(recovered from) the relevant taxation authority.

Deferred tax is provided on temporary differences which are determined by comparing the carrying amounts of tax bases of assets and liabilities to the carrying amounts in the consolidated financial statements.

Deferred tax is not provided for the following:

●

The initial recognition of an asset or liability in a transaction that is not a business combination and at the time of the transaction, affects neither accounting profit nor taxable profit/(tax loss).

●

Taxable temporary differences arising on the initial recognition of goodwill.

●

Temporary differences related to investment in subsidiaries, associates and jointly controlled entities to the extent that the Group is able to control the timing of the reversal of the temporary differences and it is probable that they will not reverse in the foreseeable future.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the period when the asset is realised or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted by each jurisdiction by the end of the reporting period.

Deferred tax assets are recognised for all deductible temporary differences and unused tax losses to the extent that it is probable that taxable profit will be available against which the deductible temporary differences and losses can be utilised.

Current and deferred tax is recognised as income or an expense and included in profit or loss for the period except where the tax arises from a transaction which is recognised in other comprehensive income or equity, in which case the tax is recognised in other comprehensive income or equity respectively.

In determining the amount of current and deferred income tax, the Company takes into account the impact of uncertain income tax positions and whether additional taxes and interest may be due. This assessment relies on estimates and assumptions and may involve a series of judgements about future events. New information may become available that causes the Company to change its judgement regarding the adequacy of existing tax liabilities; such changes to tax liabilities will impact the income tax expense in the period that such a determination is made.

(e)

Leases

Leases of fixed assets where substantially all the risks and benefits incidental to the ownership of the asset, but not the legal ownership that are transferred to entities in the Group, are classified as finance leases.

Finance leases are capitalised by recording an asset and a liability at the lower of the amounts equal to the fair value of the leased property or the present value of the minimum lease payments, including any guaranteed residual values. Lease payments are allocated between the reduction of the lease liability and the lease interest expense for the period.

Lease payments for operating leases, where substantially all of the risks and benefits remain with the lessor, are charged as expenses on a straight-line basis over the life of the lease term.

Lease incentives under operating leases are recognised as a liability and amortised on a straight-line basis over the life of the lease term.

(f)

Revenue and other income

Revenue is recognised when the amount of the revenue can be measured reliably, it is probable that economic benefits associated with the transaction will flow to the Group and specific criteria relating to the type of revenue as noted below, has been satisfied.

Revenue is measured at the fair value of the consideration received or receivable and is presented net of returns, discounts and rebates. The Group assess the expected customer returns and rebates according to the specific information in its possession and its past experience in similar cases.

Sale of goods

Sales of goods through retail stores, e-commerce and wholesale channels are recognised when there has been a transfer of risk and rewards to the customer. Risks and rewards transfer at point of sale for retail stores sales. For wholesale and e-commerce sales, risks and rewards are transferred when goods are delivered to customers, and therefore reflects an estimate of shipments that have not been received at year end based on shipping terms and historical delivery times. The company also provides a reserve for projected merchandise returns based on prior experience.

The company sells gift cards to customers. The company recognises revenue from gift cards when they are redeemed by the customers. In addition, the company recognises revenue on unredeemed gift cards after one year when the gift cards have expired.

Interest revenue

Interest is recognised using the effective interest method.

Dividend revenue

Dividends are recognised when the entity’s right to receive payment is established.

Rendering of services

Revenue from service transactions are recognised as services are performed.

Other income

Other income is recognised on an accruals basis when the Group is entitled to it.

(g)

Brand management, administrative and corporate expenses

Corporate expenses includes head office costs such as human resources, finance team and rental costs. Administrative expenses includes depreciation and amortisation, as well as professional accounting fees. Brand management expenses includes other costs incurred in selling products, including advertising, design and retail store occupancy and payroll.

(h)

Borrowing costs

Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale. Investment income earned on the temporary investment of specific borrowing pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalisation.

All other borrowing costs are recognised as an expense in the period in which they are incurred.

(i)

Inventories

Inventories are measured at the lower of cost and net realisable value. Cost of inventory is determined using the weighted average costs basis and is net of any rebates and discounts received. Net realisable value represents the estimated selling price for inventories less costs necessary to make the sale. Net realisable value is estimated using the most reliable evidence available at the reporting date and inventory is written down through an obsolescence provision if necessary.

(j)

Property, plant and equipment

Plant and equipment

Plant and equipment are measured using the cost model.

Under the cost model the asset is carried at its cost less any accumulated depreciation and any impairment losses. Costs include purchase price and other directly attributable costs associated with locating the asset to the installation site, where applicable.

Depreciation

Property, plant and equipment, is depreciated on a straight-line basis over the assets useful life to the Group, commencing when the asset is ready for use.

The estimated useful lives used for each class of depreciable asset are shown below:

Fixed asset class		Useful life
Leasehold improvements		1 - 10 years
Plant, furniture, fittings and motor vehicles		3 - 7 years

(k)

Financial instruments

Financial instruments are recognised initially using trade date accounting, i.e. on the date that the Group becomes party to the contractual provisions of the instrument.

On initial recognition, all financial instruments are measured at fair value plus transaction costs (except for instruments measured at fair value through profit or loss where transaction costs are expensed as incurred).

Financial Assets

Financial assets are divided into the following categories which are described in detail below:

	●	loans and receivables; and
	●	financial assets at fair value through profit or loss.

Financial assets are assigned to the different categories on initial recognition, depending on the characteristics of the instrument and its purpose. A financial instrument’s category is relevant to the way it is measured and whether any resulting income and expenses are recognised in profit or loss or in other comprehensive income.

All income and expenses relating to financial assets are recognised in the consolidated statements of profit or loss and other comprehensive income in the ‘finance income’ or ‘finance costs’ line item respectively.

Loans and receivables

Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. They arise principally through the provision of goods and services to customers but also incorporate other types of contractual monetary assets.

After initial recognition these are measured at amortised cost using the effective interest method, less provision for impairment. Any change in their value is recognised in profit or loss.

The Group’s trade and other receivables fall into this category of financial instruments.

Significant receivables are considered for impairment on an individual asset basis when they are past due at the reporting date or when objective evidence is received that a specific counterparty will default.

The amount of the impairment is the difference between the net carrying amount and the present value of the future expected cash flows associated with the impaired receivable.

In some circumstances, the Group renegotiates repayment terms with customers which may lead to changes in the timing of the payments, the Group does not necessarily consider the balance to be impaired, however assessment is made on a case-by-case basis.

Financial assets at fair value through profit or loss

Financial assets at fair value through profit or loss include financial assets:

	●	acquired principally for the purpose of selling in the near future
	●	designated by the entity to be carried at fair value through profit or loss upon initial recognition or
	●	which are derivatives not qualifying for hedge accounting.

The Group has some derivatives which are classified as financial assets at fair value through profit or loss.

Assets included within this category are carried in the consolidated balance sheets at fair value with changes in fair value recognised in finance income or expenses in profit or loss.

Any gain or loss arising from derivative financial instruments is based on changes in fair value, which is determined by direct reference to active market transactions or using a valuation technique where no active market exists.

Financial liabilities

Financial liabilities are classified as either financial liabilities ‘at fair value through profit or loss’ or other financial liabilities depending on the purpose for which the liability was acquired. Although the Group uses derivative financial instruments in economic hedges of currency and interest rate risk, it does not hedge account for these transactions.

The Group’s financial liabilities include borrowings, trade and other payables (including finance lease liabilities), which are measured at amortised cost using the effective interest rate method.

All of the Group’s derivative financial instruments that are not designated as hedging instruments are accounted for at fair value through profit or loss.

Impairment of financial assets

At the end of the reporting period the Group assesses whether there is any objective evidence that a financial asset or group of financial assets is impaired.

Financial assets at amortised cost

If there is objective evidence that an impairment loss on financial assets carried at amortised cost has been incurred, the amount of the loss is measured as the difference between the asset’s carrying amount and the present value of the estimated future cash flows discounted at the financial assets original effective interest rate.

Impairment on loans and receivables is reduced through the use of an allowance accounts, all other impairment losses on financial assets at amortised cost are taken directly to the asset.

Subsequent recoveries of amounts previously written off are credited against other expenses in profit or loss.

(l)

Impairment of non-financial assets

At the end of each reporting period the Group determines whether there is an evidence of an impairment indicator for non-financial assets.

Where an indicator exists and regardless for goodwill, indefinite life intangible assets and intangible assets not yet available for use, the recoverable amount of the asset is estimated.

Where assets do not operate independently of other assets, the recoverable amount of the relevant cash-generating unit (CGU) is estimated.

The recoverable amount of an asset or CGU is the higher of the fair value less costs of disposal and the value in use. Value in use is the present value of the future cash flows expected to be derived from an asset or cash-generating unit.

Where the recoverable amount is less than the carrying amount, an impairment loss is recognised in profit or loss.

Reversal indicators are considered in subsequent periods for all assets which have suffered an impairment loss, except for goodwill.

(m)

Cash and cash equivalents

For the purpose of presentation in the statement of cash flows, cash and cash equivalents includes cash on hand, deposits held at call with financial institutions, other short-term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities in the balance sheet.

(n)

Trade receivables

Trade receivables are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method, less provision for impairment.

(o)

Trade and other payables

These amounts represent liabilities for goods and services provided to the group prior to the end of financial year which are unpaid. The amounts are unsecured and are usually paid within 30 days of recognition. Trade and other payables are presented as current liabilities unless payment is not due within 12 months after the reporting period. They are recognised initially at their fair value and subsequently measured at amortised cost using the effective interest method.

(p)

Intangibles

Goodwill

Goodwill is carried at cost less accumulated impairment losses. Goodwill is calculated as the excess of the sum of:

	i)	the consideration transferred;
	ii)	any non-controlling interest; and
	iii)	the acquisition date fair value of any previously held equity interest;

over the acquisition date fair value of net identifiable assets acquired in a business combination.

The value of goodwill recognised on acquisition of each subsidiary in which the Group holds less than a 100% interest will depend on the method adopted in measuring the aforementioned non-controlling interest. The Group can elect to measure the non-controlling interest in the acquiree either at fair value (‘full goodwill method’) or at the non-controlling interest’s proportionate share of the subsidiary’s identifiable net assets (‘proportionate interest method’). The Group determines which method to adopt for each acquisition.

Patents and licences

Separately acquired patents and licences are shown at historical cost. Licenses and customer contracts acquired in a business combination are recognised at fair value at the acquisition date. They have a finite useful life and are subsequently carried at cost less accumulated amortisation and impairment losses. Licence fees have an estimated useful life of 5 years.

Software

Software has a finite life and is carried at cost less any accumulated amortisation and impairment losses. It has an estimated useful life of between one and three years.

Brands

Brand assets relate to brands owned by the Group that have arisen on historical acquisitions. These assets were initially measured at fair value.

Brands are considered to have an indefinite life and are therefore not amortised. They are considered to have indefinite lives because there is no foreseeable limit to the period over which the asset is expected to generate net cash flows for the entity. The brands have been in existence for many years, are well established and show no signs of deteriorating. They are assessed for impairment annually or more frequently if impairment indicators exist.

Amortisation

Amortisation is recognised in profit or loss on a straight-line basis over the estimated useful lives of intangible assets, other than goodwill and brands, from the date that they are available for use.

Amortisation methods, useful lives and residual values are reviewed at each reporting date and adjusted if appropriate.

Goodwill and indefinite life brands are not amortised but are tested for impairment annually or more frequently if impairment indicators exist. Goodwill is allocated to the Group’s cash generating units or groups of cash generating units, which represent the lowest level at which goodwill is monitored but where such level is not larger than an operating segment. Gains and losses on the disposal of an entity include the carrying amount of goodwill related to the entity sold.

(q)

Employee benefits

(i)

Short-term obligations

Liabilities for wages and salaries, including non-monetary benefits and accumulating sick leave that are expected to be settled wholly within 12 months after the end of the period in which the employees render the related service are recognised in respect of employees’ services up to the end of the reporting period and are measured at the amounts expected to be paid when the liabilities are settled. The liabilities are presented as current employee benefit obligations in the balance sheet.

(ii)

Other long-term employee benefit obligations

The liabilities for long service leave and annual leave are not expected to be settled wholly within 12 months after the end of the period in which the employees render the related service. They are therefore measured as the present value of expected future payments to be made in respect of services provided by employees up to the end of the reporting period using the projected unit credit method. Consideration is given to expected future wage and salary levels, experience of employee departures and periods of service. Expected future payments are discounted using market yields at the end of the reporting period of high-quality corporate bonds with terms and currencies that match, as closely as possible, the estimated future cash outflows. Remeasurements as a result of experience adjustments and changes in actuarial assumptions are recognised in profit or loss.

The obligations are presented as current liabilities in the balance sheet if the entity does not have an unconditional right to defer settlement for at least twelve months after the reporting period, regardless of when the actual settlement is expected to occur.

(r)

Provisions

Provisions are recognised when the Group has a legal or constructive obligation, as a result of past events, for which it is probable that an outflow of economic benefits will result and that outflow can be reliably measured.

Provisions are measured at the present value of management’s best estimate of the outflow required to settle the obligation at the end of the reporting period. The discount rate used is a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The increase in the provision due to the unwinding of the discount is taken to finance costs in the consolidated statements of profit or loss and other comprehensive income.

Provisions recognised represent the best estimate of the amounts required to settle the obligation at the end of the reporting period.

(i)

Lease incentive provision

Lease contributions include payment for improvements initially funded by the landlord. The improvement asset is capitalised and a provision for the amount of landlord contribution is recognised. The provision is released on a monthly basis over the term of the lease of the property.

(ii)

Onerous contract provision

The Group provides for future losses on long-term contracts where it is considered probable that the contract costs are likely to exceed revenues in future years. A provision is required for the present value of future losses. Estimating these future losses involves a number of assumptions about the achievement of contract performance targets and the likely levels of future cost escalation over time.

(iii)

Make good provision

The Group is required to restore the lease premises of various retail stores to their original condition at the end of the respective lease terms. Provisions for make good obligations are recognised when the group has a present legal or constructive obligation as a result of past events, it is probable that an outflow of resources will be required to settle the obligation and the amount can be reliably estimated. A provision is recognised for the present value of the estimated expenditure required to remove any leasehold improvements. These costs have been capitalised as part of the cost of leasehold improvements and are amortised over the lease term.

(s)

Earnings/(loss) per share

(i) Basic earnings/(loss) per share

Basic earnings/(loss) per share is calculated by dividing:

	●	the profit/(loss) attributable to owners of the Company, excluding any costs of servicing equity other than ordinary shares
	●	by the weighted average number of ordinary shares outstanding during the financial year.

(ii) Diluted earnings/(loss) per share

Diluted earnings/(loss) per share adjusts the figures used in the determination of basic earnings per share to take into account:

	●	the after income tax effect of interest and other financing costs associated with dilutive potential ordinary shares, and
	●	the weighted average number of additional ordinary shares that would have been outstanding assuming the conversion of all dilutive potential ordinary shares.

(t)

Borrowings

Borrowings are initially recognised at fair value, net of transaction costs incurred. Borrowings are subsequently measured at amortised cost. Any difference between the proceeds (net of transaction costs) and the redemption amount is recognised in profit or loss over the period of the borrowings using the effective interest method. Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalised as a prepayment for liquidity services and amortised over the period of the facility to which it relates.

Where the terms of a financial liability are renegotiated and the entity issues equity instruments to a creditor to extinguish all or part of the liability (debt for equity swap), a gain or loss is recognised in profit or loss, which is measured as the difference between the carrying amount of the financial liability and the fair value of the equity instruments issued.

Borrowings are classified as current liabilities unless the Group has an unconditional right to defer settlement of the liability for at least 12 months after the reporting period.

(u)

Convertible Notes

On issuance of the convertible notes, an assessment is made to determine whether the convertible notes contain an equity instrument or whether the whole instrument should be classified as a financial liability.

When it is determined that the whole instrument is a financial liability and no equity instrument is identified (for example for foreign-currency-denominated convertibles notes), the conversion option is separated from the host debt and classified as a derivative liability. The carrying value of the host contract (a contract denominated in a foreign currency) at initial recognition is determined as the difference between the consideration received and the fair value of the embedded derivative. The host contract is subsequently measured at amortised cost using the effective interest rate method. The embedded derivative is subsequently measured at fair value at the end of each reporting period through the profit and loss. The convertible note and the derivative are presented as a single number on the balance sheet within interest-bearing loans and borrowings.

When it is determined that the instrument contains an equity component based on the terms of the contract, on issuance of the convertible notes, the fair value of the liability component is determined using a market rate for an equivalent non-convertible bond. This amount is classified as a financial liability measured at amortised cost (net of transaction costs) until it is extinguished on conversion or redemption. The remainder of the proceeds is allocated to the conversion option that is recognised and included in equity. Transaction costs are deducted from equity, net of associated income tax. The carrying amount of the conversion option is not re-measured in subsequent years.

(v)

Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of ordinary shares are recognised as a deduction from equity, net of any tax effects.

(w)

Foreign currency transactions and balances

Each of the entities within the Group prepare their financial statements based on the currency of the primary economic environment in which the entity operates (functional currency). The consolidated financial statements are presented in New Zealand dollars which is the parent entity’s functional and presentation currency.

Transaction and balances

Foreign currency transactions are recorded at the spot rate on the date of the transaction.

At the end of the reporting period:

	●	Foreign currency monetary items are translated using the closing foreign currency rate;
	●	Non-monetary items that are measured at historical cost are translated using the exchange rate at the date of the transaction; and
	●	Non-monetary items that are measured at fair value are translated using the rate at the date when fair value was determined.

Group companies

The financial results and position of foreign operations whose functional currency is different from the Group’s presentation currency are translated as follows:

	●	assets and liabilities are translated at period-end exchange rates prevailing at that reporting date;
	●	income and expenses are translated at average exchange rates for the period where the average rate approximates the rate at the date of the transaction; and
	●	retained earnings are translated at the exchange rates prevailing at the date of the transaction.

(x)

Adoption of new and revised accounting standards

During the current period, there have been no new or revised accounting standards that have become mandatory, which have had a material impact (in the current year or retrospectively) upon the measurement of assets, liabilities, equity, income or expenses, nor upon the disclosures required in this financial report.

(y)

New Accounting Standards and Interpretations

Certain new accounting standards and interpretations have been published that are not mandatory for 31 January 2018 reporting periods and have not been early adopted by the Group. The Group’s assessment of the impact of these new standards and interpretations is set out below.

			Mandatory
			application
Title of			date/Date of
Standard	Nature of change	Impact	adoption by Group
IFRS 9 Financial Instruments	IFRS 9 addresses the classification, measurement and derecognition of financial assets and financial liabilities and introduces new rules for hedge accounting. In December 2014, the IASB made further changes to the classification and measurement rules and also introduced a new impairment model. These latest amendments now complete the new financial instruments standard.	Following the changes approved by the IASB in December 2014, the Group no longer expects any impact from the new classification, measurement and derecognition rules on the Group’s financial assets and financial liabilities. There will also be no impact on the Group’s accounting for financial liabilities, as the new requirements only affect the accounting for financial liabilities that are designated at fair value through profit or loss and the Group does not have any such liabilities. The new impairment model is an expected credit loss (ECL) model which may result in the earlier recognition of credit losses. The Group does not expect any material impact on transition to the new model.	Must be applied for financial years commencing on or after 1 January 2018. The Group will adopt IFRS 9 for the financial year beginning 1 February 2018.

IFRS 15 Revenue from Contracts with Customers	The IASB has issued a new standard for the recognition of revenue. This will replace IAS 18 which covers contracts for goods and services and IAS 11 which covers construction contracts. The new standard is based on the principle that revenue is recognised when control of a good or service transfers to a customer so the notion of control replaces the existing notion of risks and rewards. The standard permits a modified retrospective approach for the adoption. Under this approach entities will recognise transitional adjustments in retained earnings on the date of initial application (e.g. 1 February 2018), i.e. without restating the comparative period. The new rules are applied to contracts that are not completed as of the date of initial application.	Management is currently assessing the impact of the new Standard Management have yet to quantify the potential impact of any adjustments.	Mandatory for financial years commencing on or after 1 January 2018. Expected date of adoption by the Group: 1 February 2018.

IFRS 16 Leases

The IASB has issued a new standard for leases. This will replace IAS 17.

The main impact on lessees is that almost all leases go on balance sheet. This is because the balance sheet distinction between operating and finance leases is removed for lessees. Instead, under the new standard an asset (the right to use the leased item) and a financial liability to pay rentals are recognised. The only exemptions are short-term and low-value leases.

Management is currently assessing the impact of the new rules and believes the adoption of the provisions of this update will have a material impact on the Company’s consolidated financial statements.

The new standard will require that we record a liability and a related asset on the balance sheet for our leased facilities.

Management have yet to quantify the potential impact of any adjustments.

Mandatory for financial years commencing on or after 1 January 2019.

Expected date of adoption by the Group: 1 February 2019.

IFRC 23 Uncertainty over Income Tax Treatments (IFRIC 23)

On June 7, 2017, the IASB issued IFRIC 23, Uncertainty over Income Tax Treatments (“IFRIC 23”). IFRIC 23 clarifies the application of recognition and measurement requirements in IAS 12, Income Taxes, when there is uncertainty over income tax treatments. The IFRIC 23 interpretation specifically addresses whether an entity considers uncertain tax treatments separately; the assumptions an entity makes about the examination of tax treatments by taxation authorities; how an entity determines taxable profit (tax loss), tax bases, unused tax losses, unused tax credits and tax rates; and how an entity considers changes in facts and circumstances.

The Company is currently evaluating the impact of adopting this standard on the consolidated financial statements.

IFRIC 23 is effective for annual periods beginning on or after January 1, 2019, with earlier application permitted.

(z)

Operating segments

Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision maker. The executive directors are the chief operating decision maker, responsible for allocating resources and assessing performance of the operating segments.

Critical Accounting Estimates and Judgments

6 Months Ended

Jul. 31, 2018

Critical Accounting Estimates And Judgments

Critical Accounting Estimates and Judgments

5	Critical Accounting Estimates and Judgments

	The directors make estimates and judgements during the preparation of these financial statements regarding assumptions about current and future events affecting transactions and balances.

	These estimates and judgements are based on the best information available at the time of preparing the financial statements, however as additional information is known then the actual results may differ from the estimates.

	The significant estimates and judgements made have been described below.

	Key estimates - inventory

	Each item on inventory is reviewed on an annual basis to determine whether it is being carried at higher than its net realisable value. During the period, management have written down inventory based on best estimate of the net realisable value, although until the time that inventory is sold this is an estimate.

	Key estimates - fair value of financial instruments

	The Group has certain financial assets and liabilities which are measured at fair value. Where fair value has not been able to be determined based on quoted price, a valuation model has been used. The inputs to these models are observable, where possible, however these techniques involve significant estimates and therefore fair value of the instruments could be affected by changes in these assumptions and inputs.

	Key estimates - impairment of brands

	In accordance with IAS 36 Impairment of Assets, the Group is required to estimate the recoverable amount of indefinite-lived brand assets at each reporting period.

	Impairment testing is an area involving management judgement, requiring assessment as to whether the carrying value of assets can be supported by their value in use or fair value less cost to sell.

In calculating the fair value less costs to sell, certain assumptions are required to be made in respect of highly uncertain matters including management’s expectations of:

	-		growth in brand revenues
	-		market royalty rate
	-		the selection of discount rates to reflect the risks involved, and
	-		long-term growth rates

	Changing the assumptions selected by management, in particular the growth rate, discount rate and market royalty rate assumption used, could significantly affect the Group’s impairment evaluation and hence results.

	The Group’s review includes the key assumptions related to sensitivity in the model. Further details are provided in note 12 to the consolidated financial statements.

	Key estimates - impairment of goodwill

	In accordance with IAS 36 Impairment of Assets, the Group is required to estimate the recoverable amount of goodwill at each reporting period.

	Impairment testing is an area involving management judgement, requiring assessment as to whether the carrying value of assets can be supported by the net present value of future cash flows derived from such assets using cash flow projections which have been discounted at an appropriate rate and using a terminal value to incorporate expectations of growth thereafter.

	In calculating the net present value of the future cash flows, certain assumptions are required to be made in respect of highly uncertain matters including management’s expectations of:

	-	growth in EBITDA future cash flows;
	-	timing and quantum of future capital expenditure;
	-	long-term growth rates; and
	-	the selection of discount rates to reflect the risks involved.

Changing the assumptions selected by management, in particular the discount rate and growth rate assumptions used in the cash flow projections, could significantly affect the Group’s impairment evaluation and hence results.

The Group’s review includes the key assumptions related to sensitivity in the cash flow projections. Further details are provided in note 8 to the consolidated financial statements.

	Key judgments - taxes

	Deferred tax assets

	Determining income tax provisions and the recognition of deferred tax assets including carried forward income tax involves judgment on the tax treatment of certain transactions. Deferred tax is recognised on tax losses not yet used and on temporary differences where it is probable that there will be taxable revenue against which these can be offset. Management has made judgments as to the probability of future taxable income being generated against which tax losses will be available for offset based on budgets, current and future expected economic conditions.

Critical Accounting Estimates and Judgments (Bendon Limited)

6 Months Ended

12 Months Ended

Jul. 31, 2018

Jan. 31, 2018

CriticalAccountingEstimatesAndJudgmentsLineItems [Line Items]

Critical Accounting Estimates and Judgments

5	Critical Accounting Estimates and Judgments

	The directors make estimates and judgements during the preparation of these financial statements regarding assumptions about current and future events affecting transactions and balances.

	These estimates and judgements are based on the best information available at the time of preparing the financial statements, however as additional information is known then the actual results may differ from the estimates.

	The significant estimates and judgements made have been described below.

	Key estimates - inventory

	Each item on inventory is reviewed on an annual basis to determine whether it is being carried at higher than its net realisable value. During the period, management have written down inventory based on best estimate of the net realisable value, although until the time that inventory is sold this is an estimate.

	Key estimates - fair value of financial instruments

	The Group has certain financial assets and liabilities which are measured at fair value. Where fair value has not been able to be determined based on quoted price, a valuation model has been used. The inputs to these models are observable, where possible, however these techniques involve significant estimates and therefore fair value of the instruments could be affected by changes in these assumptions and inputs.

	Key estimates - impairment of brands

	In accordance with IAS 36 Impairment of Assets, the Group is required to estimate the recoverable amount of indefinite-lived brand assets at each reporting period.

	Impairment testing is an area involving management judgement, requiring assessment as to whether the carrying value of assets can be supported by their value in use or fair value less cost to sell.

In calculating the fair value less costs to sell, certain assumptions are required to be made in respect of highly uncertain matters including management’s expectations of:

	-		growth in brand revenues
	-		market royalty rate
	-		the selection of discount rates to reflect the risks involved, and
	-		long-term growth rates

	Changing the assumptions selected by management, in particular the growth rate, discount rate and market royalty rate assumption used, could significantly affect the Group’s impairment evaluation and hence results.

	The Group’s review includes the key assumptions related to sensitivity in the model. Further details are provided in note 12 to the consolidated financial statements.

	Key estimates - impairment of goodwill

	In accordance with IAS 36 Impairment of Assets, the Group is required to estimate the recoverable amount of goodwill at each reporting period.

	Impairment testing is an area involving management judgement, requiring assessment as to whether the carrying value of assets can be supported by the net present value of future cash flows derived from such assets using cash flow projections which have been discounted at an appropriate rate and using a terminal value to incorporate expectations of growth thereafter.

	In calculating the net present value of the future cash flows, certain assumptions are required to be made in respect of highly uncertain matters including management’s expectations of:

	-	growth in EBITDA future cash flows;
	-	timing and quantum of future capital expenditure;
	-	long-term growth rates; and
	-	the selection of discount rates to reflect the risks involved.

The Group’s review includes the key assumptions related to sensitivity in the cash flow projections. Further details are provided in note 8 to the consolidated financial statements.

	Key judgments - taxes

	Deferred tax assets

	Determining income tax provisions and the recognition of deferred tax assets including carried forward income tax involves judgment on the tax treatment of certain transactions. Deferred tax is recognised on tax losses not yet used and on temporary differences where it is probable that there will be taxable revenue against which these can be offset. Management has made judgments as to the probability of future taxable income being generated against which tax losses will be available for offset based on budgets, current and future expected economic conditions.

CriticalAccountingEstimatesAndJudgmentsLineItems [Line Items]

Critical Accounting Estimates and Judgments

Critical Accounting Estimates and Judgments

The directors make estimates and judgements during the preparation of these financial statements regarding assumptions about current and future events affecting transactions and balances.

These estimates and judgements are based on the best information available at the time of preparing the financial statements, however as additional information is known then the actual results may differ from the estimates.

The significant estimates and judgements made have been described below.

Key estimates - inventory

Each item on inventory is reviewed on an annual basis to determine whether it is being carried at higher than its net realisable value. During the period, management have written down inventory based on best estimate of the net realisable value, although until the time that inventory is sold this is an estimate.

Key estimates - fair value of financial instruments

The Group has certain financial assets and liabilities which are measured at fair value. Where fair value has not been able to be determined based on quoted price, a valuation model has been used. The inputs to these models are observable, where possible, however these techniques involve significant estimates and therefore fair value of the instruments could be affected by changes in these assumptions and inputs.

Key estimates - impairment of brands

In accordance with IAS 36 Impairment of Assets, the Group is required to estimate the recoverable amount of indefinite-lived brand assets at each reporting period.

Impairment testing is an area involving management judgement, requiring assessment as to whether the carrying value of assets can be supported by their value in use or fair value less cost to sell.

In calculating the fair value less costs to sell, certain assumptions are required to be made in respect of highly uncertain matters including management’s expectations of:

- growth in brand revenues

- market royalty rate

- the selection of discount rates to reflect the risks involved, and

- long-term growth rates

Changing the assumptions selected by management, in particular the growth rate, discount rate and market royalty rate assumption used, could significantly affect the Group’s impairment evaluation and hence results.

The Group’s review includes the key assumptions related to sensitivity in the model. Further details are provided in note 12 to the consolidated financial statements.

Key estimates - impairment of goodwill

In accordance with IAS 36 Impairment of Assets, the Group is required to estimate the recoverable amount of goodwill at each reporting period.

Impairment testing is an area involving management judgement, requiring assessment as to whether the carrying value of assets can be supported by the net present value of future cash flows derived from such assets using cash flow projections which have been discounted at an appropriate rate and using a terminal value to incorporate expectations of growth thereafter.

In calculating the net present value of the future cash flows, certain assumptions are required to be made in respect of highly uncertain matters including management’s expectations of:

- growth in EBITDA future cash flows;

- timing and quantum of future capital expenditure;

- long-term growth rates; and

- the selection of discount rates to reflect the risks involved.

Key judgments - taxes

Deferred tax assets

Determining income tax provisions and the recognition of deferred tax assets including carried forward income tax involves judgment on the tax treatment of certain transactions. Deferred tax is recognised on tax losses not yet used and on temporary differences where it is probable that there will be taxable revenue against which these can be offset. Management has made judgments as to the probability of future taxable income being generated against which tax losses will be available for offset based on budgets, current and future expected economic conditions.

Revenue and Other Income (Bendon Limited)

12 Months Ended

Jan. 31, 2018

RevenueAndOtherIncomeLineItems [Line Items]

Profit and Loss Information

Revenue and Other Income

Revenue from continuing operations

				For the 7
	For the Year			Months			For the Year			For the Year
	Ended 31			Ended 31			Ended 30			Ended 30
	January 2018			January 2017			June 2016			June 2015
	NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s

Gross revenue	145,452			104,007			163,481			149,403
Rebates		(14,064	)		(7,723	)		(12,481	)		(10,565	)
		131,388			96,284			151,000			138,838

Sale of goods
- Retail		53,150			34,460			58,837			56,494
- Wholesale		45,901			43,379			77,729			76,570
- Online		32,234			18,157			6,724			5,750
		131,285			95,996			143,290			138,814

Services		-			-			7,702			-
Other income		103			288			8			24
		131,388			96,284			151,000			138,838

Other income relates to non-recurring advisory, management and design services provided to other third party intimates apparel brand owners.

Profit and Loss Information

6 Months Ended

Jul. 31, 2018

Profit And Loss Information

6	Profit and loss information

(a)

Revenue from continuing operations

	6 months to 31 July 2018 NZ $000’s			6 months to 31 July 2017 NZ $000’s

Gross revenue		61,282			68,445
Rebates		(4,532	)		(8,658	)
		56,750			59,787

Sale of goods
-Retail		24,425			23,427
-Wholesale		18,077			23,119
-Online		14,248			13,139
		56,750			59,685

Other income		-			102
		56,750			59,787

(b)

Significant items

The loss for the half year was derived after charging / (crediting) the following items that are unusual and of significance because of their size, nature and incidence:

Finance Costs
- Interest expense on external borrowings	(1,353	)	(1,879	)
- Interest expense on shareholder loans	(1,062	)	(1,292	)
- Interest expense on convertible notes	186		(1,605	)
- Amortisation of loan set up costs	(225	)	(251	)
	(2,454	)	(5,027	)

Other gains/(losses)
- Fair value gain on foreign exchange contracts	2,306		1,600
- Net foreign exchange gains/(losses)	1,228		(2,534	)
- Impairment of goodwill	(3,399	)	-
- Impairment of brand	(696	)	-
- Impairment of software	(64	)	-
	(625	)	(934	)

Brand transition, restructure and transaction expenses
- Brand transition expenses	(199	)	-
- Onerous contracts	-		265
- Restructure expenses	(526	)	(43	)
- Transaction expenses	(4,432	)	(1,334	)
	(5,157	)	(1,112	)

The onerous contracts expense reversal relates to a reversal of the provision raised in the prior year. Transaction expenses relate to acquisition related costs from business combination (note 15).

(c)

Income tax

Income tax expense/(benefits) is recognised based on the parent company’s effective annual income tax rate expected for the full financial year. The annual tax rate used for the half year to 31 July 2018 is 30% (6 month to 31 July 2017: 28%). The Group has assessed future forecast profits and concluded that not enough criteria have been satisfied to recognise any deferred tax assets at the period ended 31 July 2018. Unused tax losses do not have an expiry date.

Loss for the Period (Bendon Limited)

6 Months Ended

12 Months Ended

Jul. 31, 2018

Jan. 31, 2018

ProfitLossFromOperatingActivitiesprofitLossFromOperatingActivitiesLineItems [Line Items]

Loss for the Period

6	Profit and loss information

(a)

Revenue from continuing operations

	6 months to 31 July 2018 NZ $000’s			6 months to 31 July 2017 NZ $000’s

Gross revenue		61,282			68,445
Rebates		(4,532	)		(8,658	)
		56,750			59,787

Sale of goods
-Retail		24,425			23,427
-Wholesale		18,077			23,119
-Online		14,248			13,139
		56,750			59,685

Other income		-			102
		56,750			59,787

(b)

Significant items

The loss for the half year was derived after charging / (crediting) the following items that are unusual and of significance because of their size, nature and incidence:

Finance Costs
- Interest expense on external borrowings	(1,353	)	(1,879	)
- Interest expense on shareholder loans	(1,062	)	(1,292	)
- Interest expense on convertible notes	186		(1,605	)
- Amortisation of loan set up costs	(225	)	(251	)
	(2,454	)	(5,027	)

Other gains/(losses)
- Fair value gain on foreign exchange contracts	2,306		1,600
- Net foreign exchange gains/(losses)	1,228		(2,534	)
- Impairment of goodwill	(3,399	)	-
- Impairment of brand	(696	)	-
- Impairment of software	(64	)	-
	(625	)	(934	)

Brand transition, restructure and transaction expenses
- Brand transition expenses	(199	)	-
- Onerous contracts	-		265
- Restructure expenses	(526	)	(43	)
- Transaction expenses	(4,432	)	(1,334	)
	(5,157	)	(1,112	)

The onerous contracts expense reversal relates to a reversal of the provision raised in the prior year. Transaction expenses relate to acquisition related costs from business combination (note 15).

(c)

Income tax

ProfitLossFromOperatingActivitiesprofitLossFromOperatingActivitiesLineItems [Line Items]

Loss for the Period

5	Loss for the Period

	The loss for the period was derived after charging / (crediting) the following items that are unusual and of significance because of their size, nature and incidence:

				For the 7
	For the Year			Months		For the Year			For the Year
	Ended 31			Ended 31		Ended 30			Ended 30
	January 2018			January 2017		June 2016			June 2015
	NZ$000’s			NZ$000’s		NZ$000’s			NZ$000’s

Finance Costs
- Interest expense on external borrowings		5,431			2,923		3,140			2,476
- Interest expense on shareholder loans		2,807			3,040		7,042			3,192
- Interest expense on finance lease		-			-		-			50
- Amortisation on loan set up costs		553			275		227			152
		8,791			6,238		10,409			5,870

Other (gains)/losses
- Fair value (gain)/loss on foreign exchange contracts		(502	)		2,135		7,660			(6,330	)
- Net foreign exchange(gains)/losses		(255	)		1,171		(5,237	)		1,630
		(757	)		3,306		2,423			(4,700	)

For the 7

For the Year

Months

For the Year

Ended 31

Ended 30

January 2018

January 2017

June 2016

June 2015

NZ$000’s

Brand transition, restructure and transaction expenses

- Brand transition expenses

884

10,160

- Onerous contracts

(265

)

1,166

789

329

- Restructure expenses

215

103

559

111

- Transaction expenses

3,322

1,582

3,272

1,321

2,232

12,182

The onerous contracts expense reversal relates to a reversal of the provision raised in the prior year.

Transaction expenses relate to costs incurred in respect of the US listing process.

The loss for the period includes the following specific expenses:

				For the 7
	For the Year			Months			For the Year			For the Year
	Ended 31			Ended 31			Ended 30			Ended 30
	January 2018			January 2017			June 2016			June 2015
	NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s

Employee benefits expense:
- Salaries and wages		33,613			19,917			33,666			31,266
- Defined contribution expenses		545			1,022			1,588			1,466
		34,158			20,939			35,254			32,732

Depreciation		2,724			1,664			2,966			3,359
Amortisation		306			178			323			891
Impairment loss		1,914			292			2,157			-
		4,944			2,134			5,446			4,250

Rental expense on operating leases:
- Lease payments		10,807			6,485			11,034			10,488
- Sublease payments received		(483	)		(354	)		(567	)		(475	)
		10,324			6,131			10,467			10,013

The management decided to fully impair the costs on the ERP upgrade, and this software will need to be replaced and updated with more advanced system, refer note 12.

Income Tax Expense/(Benefit) (Bendon Limited)

12 Months Ended

Jan. 31, 2018

Income Tax Expense/(Benefit)

Statement Line Items [Line Items]

6	Income Tax Expense/(benefit)

	(a) The major components of tax expense/(benefit) comprise:

				For the 7
	For the Year			Months		For the Year			For the Year
	Ended 31			Ended 31		Ended 30			Ended 30
	January 2018			January 2017		June 2016			June 2015
	NZ$000’s			NZ$000’s		NZ$000’s			NZ$000’s

Current tax
Current tax on profits for the period		537			807		301			313
Adjustments for current tax of prior periods		(477	)		58		(344	)		412
Total current tax expense/(benefit)		60			865		(43	)		725

Deferred tax expense/(benefit)
Decrease/(increase) in deferred tax assets (note 25)		-			-		5,589			(1,999	)
Income tax expense/(benefit) for continuing operations		60			865		5,546			(1,274	)

(b) Reconciliation of income tax to accounting profit:

				For the 7
	For the Year			Months			For the Year			For the Year
	Ended 31			Ended 31			Ended 30			Ended 30
	January 2018			January 2017			June 2016			June 2015
	NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s

Loss before income tax		(37,533	)		(15,114	)		(15,200	)		(14,379	)
Tax at New Zealand tax rate of 28% (2017: 28%, 2016: 28%, 2015: 28%)		(10,509	)		(4,232	)		(4,256	)		(4,026	)

Tax effect of:
- permanent differences (including impairment expense)		(105	)		(6	)		757			23
- adjustments in respect of current income tax of previous years		(449	)		41			(237	)		378
- effects of different tax rates of subsidiaries operating in other jurisdictions		(30	)		(15	)		(42	)		(382	)
- deferred tax assets relating to prior periods no longer recognised (note 25)		-			-			5,589			-
- deferred tax assets relating to the current year not brought to account		11,150			5,119			3,934			2,630
- other		3			(42	)		(199	)		103
Income tax expense/(benefit)		60			865			5,546			(1,274	)

For the 7

For the Year

Months

For the Year

Ended 31

Ended 30

January 2018

January 2017

June 2016

June 2015

NZ$000’s

Unused tax losses for which no deferred tax asset has been recognised

87,455

43,269

23,765

10,236

Potential tax benefit at 28%

24,487

12,115

6,654

2,866

The Group has assessed future forecast profits and concluded that not enough criteria have been satisfied to recognise any deferred tax assets at the period ended 31 January 2018. Unused tax losses do not have an expiry date.

(d) Temporary differences not recognised

For the 7

For the Year

Months

For the Year

Ended 31

Ended 30

January 2018

January 2017

June 2016

June 2015

NZ$000’s

Temporary differences for which no deferred tax asset has been recognised

14,661

18,703

19,924

Potential tax benefit at 28%

4,105

5,237

5,579

Operating Segments

6 Months Ended

Jul. 31, 2018

Operating Segments

Operating Segments

7	Operating Segment

	Segment information

	Identification of reportable operating segments

	The consolidated entity’s Directors examined the group’s performance from both sales channel and geographical perspective and identified seven reportable segments being Australia Retail, New Zealand Retail, Australia wholesale, New Zealand wholesale, US Wholesale, EU Wholesale and e-commerce.

	Australia retail

	This segment covers retail and outlet stores located in Australia.

	New Zealand retail

	This segment covers retail and outlet stores located in New Zealand.

	Australia wholesale

	This segment covers the wholesale of intimates apparel to customers based in Australia

	New Zealand wholesale

	This segment covers the wholesale of intimates apparel to customers based in New Zealand.

	US wholesale

	This segment covers the wholesale of intimates apparel to customers based in the United States of America.

	Europe wholesale

	This segment covers the wholesale of intimates apparel to customers based in Europe.

	E-commerce

	This segment covers the group’s online retail activities. E-commerce revenue include revenue from a US brand called Fredericks of Hollywood for which Bendon Limited currently has a licence agreement.

	These operating segments are based on the internal reports that are reviewed and used by the Chief Executive Officer (who is identified as the Chief Operating Decision Makers (‘CODM’)) in assessing performance and in determining the allocation of resources.

	The CODM reviews segment EBITDA (earnings before interest, tax, depreciation and amortisation). The accounting policies adopted for internal reporting to the CODM are consistent with those adopted in the financial statements.

	EBITDA is a financial measure which is not prescribed by IFRS and represents the profit adjusted for specific non-cash and significant items. The directors consider EBITDA to reflect the core earnings of the consolidated entity.

	The information reported to the CODM is on a monthly basis.

	Other Costs and Business Activities

	Certain costs are not allocated to our reporting segment results, such as costs associated with the following:

	- Corporate overheads, which is responsible for centralized functions such as information technology, facilities, legal, finance, human resources, business development, and procurement. These costs also include compensation costs and other miscellaneous operating expenses not charged to our operating segments, as well as interest and tax income and expense.

	These costs are included within “unallocated” segment in our segment performance.

	Other assets and liabilities

	We manage our assets and liabilities on a Group basis, not by segment. CODM does not regularly review any asset or liability information by segment and its preparation is impracticable. Accordingly, we do not report asset and liability information by segment.

	(a) Reconciliations

	Reconciliation of segment revenue to consolidated statements of profit or loss and other comprehensive income:

	6 months to 31 July 2018 NZ $000’s			6 months to 31 July 2017 NZ $000’s

Total segment revenue		65,736			71,095
Intersegment eliminations		(8,986	)		(11,308	)
Total revenue		56,750			59,787

	Reconciliation of segment EBITDA to the consolidated statements of profit or loss and other comprehensive income:

	The Board meets on a monthly basis to assess the performance of each segment, net operating profit does not include non-operating revenue and expenses such as dividends, fair value gains and losses.

	6 months to 31 July 2018 NZ $000’s			6 months to 31 July 2017 NZ $000’s

Segment EBITDA		(15,436	)		(16,285	)
Income tax (expense)/benefit		411			(174	)
Other revenue					-
Any other reconciling items		(11,069	)		(2,754	)
Total net loss after tax		(26,094	)		(19,213	)

	Any other reconciling items includes brand transition, finance expenses, impairment expense, depreciation and amortisation, fair value gain/loss on foreign exchange contracts, and unrealised foreign exchange gain/loss that cannot be allocated to segments.

	(b) Geographical information

	In presenting information on the basis of geographical segments, segment revenue is based on the geographical location of customers whereas segment assets are based on the location of the assets.

	6 months to 31 July 2018 NZ $000’s		6 months to 31 July 2017 NZ $000’s

New Zealand		20,984		19,940
Australia		17,570		16,197
United States		14,383		15,496
Europe		3,813		8,154
		56,750		59,787

(c) Segment performance

	NZ Retail NZ$000’s			AU Retail NZ$000’s			NZ Wholesale NZ$000’s			AU Wholesale NZ$000’s			US Wholesale NZ$000’s			EU Wholesale NZ$000’s			e-commerce NZ$000’s			Unallocated NZ$000’s			Total
For the 6 months ended 31 July 2018
Revenue from external customers		15,571			8,758			4,556			6,757			3,047			3,813			14,248			-			56,750
Service income		-			-			-			-			-			-			-			-			-
		15,571			8,758			4,556			6,757			3,047			3,813			14,248			-			56,750

Cost of sales		(7,612	)		(4,246	)		(3,695	)		(5,246	)		(2,923	)		(3,007	)		(10,234	)		(2,109	)		(39,072	)
Gross margin		7,959			4,512			861			1,511			124			806			4,014			(2,109	)		17,678
Other segment expenses*		(6,856	)		(5,644	)		(672	)		(1,726	)		(1,187	)		(1,166	)		(5,375	)		-			(22,626	)
Unallocated expenses
Administrative expenses		-			-			-			-			-			-			-			(661	)		(661	)
Corporate expenses		-			-			-			-			-			-			-			(10,672	)		(10,672	)
Other foreign exchange gain/loss		-			-			-			-			-			-			-			845			845
EBITDA		1,103			(1,132	)		189			(215	)		(1,063	)		(360	)		(1,361	)		(12,597	)		(15,436	)
Brand transition, restructure and transaction expenses		-			-			-			-			-			-			-			(5,157	)		(5,157	)
Finance expense		-			-			-			-			-			-			-			(2,454	)		(2,454	)
Impairment expense		-			-			-			-			-			-			-			(4,182	)		(4,182	)
Depreciation and amortisation		-			-			-			-			-			-			-			(1,190	)		(1,190	)
Fair value (gain)/loss on foreign exchange contracts		-			-			-			-			-			-			-			2,306			2,306
Unrealised foreign exchange gain/(loss)		-			-			-			-			-			-			-			383			383
Fair value gain/(loss) on Convertible Note derivative		-			-			-			-			-			-			-			(775	)		(775	)
Loss before income tax expense		1,103			(1,132	)		189			(215	)		(1,063	)		(360	)		(1,361	)		(23,666	)		(26,505	)
Income tax expense		-			-			-			-			-			-			-			411			411
Loss after income tax expense		1,103			(1,132	)		189			(215	)		(1,063	)		(360	)		(1,361	)		(23,255	)		(26,094	)

	NZ Retail NZ$000’s			AU Retail NZ$000’s			NZ Wholesale NZ$000’s			AU Wholesale NZ$000’s			US Wholesale NZ$000’s			EU Wholesale NZ$000’s			e-commerce NZ$000’s			Unallocated NZ$000’s			Total
For the 6 months ended 31 July 2017
Revenue from external customers		15,072			8,030			4,092			6,497			4,803			8,154			13,139			-			59,787
		15,072			8,030			4,092			6,497			4,803			8,154			13,139			-			59,787

Cost of sales		(7,027	)		(4,085	)		(3,250	)		(6,294	)		(4,092	)		(6,308	)		(9,152	)		-			(40,207	)
Gross margin		8,045			3,946			842			203			711			1,846			3,987			-			19,580
Other segment expenses*		(6,462	)		(5,335	)		(449	)		(1,997	)		(1,507	)		(1,504	)		(5,407	)		-			(22,661	)
Unallocated expenses
Administrative expenses		-			-			-			-			-			-			-			(320	)		(320	)
Corporate expenses		-			-			-			-			-			-			-			(10,241	)		(10,241	)
Other foreign exchange gain/loss		-			-			-			-			-			-			-			(2,643	)		(2,643	)
EBITDA		1,583			(1,389	)		393			(1,794	)		(796	)		342			(1,420	)		(13,204	)		(16,285	)
Brand transition, restructure and transaction expenses		-			-			-			-			-			-			-			(1,112	)		(1,112	)
Finance expense		-			-			-			-			-			-			-			(4,776	)		(4,776	)
Depreciation and amortisation expense		-			-			-			-			-			-			-			(1,821	)		(1,821	)
Fair value (gain)/loss on foreign exchange contracts		-			-			-			-			-			-			-			(1,600	)		(1,600	)
Unrealised foreign exchange (gain)/loss		-			-			-			-			-			-			-			3,309			3,309
Fair value (gain)/loss on Convertible Note derivative		-			-			-			-			-			-			-			3,246			3,246
Loss before income tax expense		1,583			(1,389	)		393			(1,794	)		(796	)		342			(1,420	)		(15,958	)		(19,039	)
Income tax expense		-			-			-			-			-			-			-			(174	)		(174	)
Loss after income tax expense		1,583			(1,389	)		393			(1,794	)		(796	)		342			(1,420	)		(16,132	)		(19,213	)

* Other segment expenses relate to brand management expenses and some corporate expenses.

Operating Segments (Bendon Limited)

6 Months Ended

12 Months Ended

Jul. 31, 2018

Jan. 31, 2018

DisclosureOfOperatingSegmentLineItems [Line Items]

Operating Segment

7	Operating Segment

	Segment information

	Identification of reportable operating segments

	The consolidated entity’s Directors examined the group’s performance from both sales channel and geographical perspective and identified seven reportable segments being Australia Retail, New Zealand Retail, Australia wholesale, New Zealand wholesale, US Wholesale, EU Wholesale and e-commerce.

	Australia retail

	This segment covers retail and outlet stores located in Australia.

	New Zealand retail

	This segment covers retail and outlet stores located in New Zealand.

	Australia wholesale

	This segment covers the wholesale of intimates apparel to customers based in Australia

	New Zealand wholesale

	This segment covers the wholesale of intimates apparel to customers based in New Zealand.

	US wholesale

	This segment covers the wholesale of intimates apparel to customers based in the United States of America.

	Europe wholesale

	This segment covers the wholesale of intimates apparel to customers based in Europe.

	E-commerce

	This segment covers the group’s online retail activities. E-commerce revenue include revenue from a US brand called Fredericks of Hollywood for which Bendon Limited currently has a licence agreement.

	These operating segments are based on the internal reports that are reviewed and used by the Chief Executive Officer (who is identified as the Chief Operating Decision Makers (‘CODM’)) in assessing performance and in determining the allocation of resources.

	The CODM reviews segment EBITDA (earnings before interest, tax, depreciation and amortisation). The accounting policies adopted for internal reporting to the CODM are consistent with those adopted in the financial statements.

	EBITDA is a financial measure which is not prescribed by IFRS and represents the profit adjusted for specific non-cash and significant items. The directors consider EBITDA to reflect the core earnings of the consolidated entity.

	The information reported to the CODM is on a monthly basis.

	Other Costs and Business Activities

	Certain costs are not allocated to our reporting segment results, such as costs associated with the following:

	- Corporate overheads, which is responsible for centralized functions such as information technology, facilities, legal, finance, human resources, business development, and procurement. These costs also include compensation costs and other miscellaneous operating expenses not charged to our operating segments, as well as interest and tax income and expense.

	These costs are included within “unallocated” segment in our segment performance.

	Other assets and liabilities

	We manage our assets and liabilities on a Group basis, not by segment. CODM does not regularly review any asset or liability information by segment and its preparation is impracticable. Accordingly, we do not report asset and liability information by segment.

	(a) Reconciliations

	Reconciliation of segment revenue to consolidated statements of profit or loss and other comprehensive income:

	6 months to 31 July 2018 NZ $000’s			6 months to 31 July 2017 NZ $000’s

Total segment revenue		65,736			71,095
Intersegment eliminations		(8,986	)		(11,308	)
Total revenue		56,750			59,787

	Reconciliation of segment EBITDA to the consolidated statements of profit or loss and other comprehensive income:

	The Board meets on a monthly basis to assess the performance of each segment, net operating profit does not include non-operating revenue and expenses such as dividends, fair value gains and losses.

	6 months to 31 July 2018 NZ $000’s			6 months to 31 July 2017 NZ $000’s

Segment EBITDA		(15,436	)		(16,285	)
Income tax (expense)/benefit		411			(174	)
Other revenue					-
Any other reconciling items		(11,069	)		(2,754	)
Total net loss after tax		(26,094	)		(19,213	)

	Any other reconciling items includes brand transition, finance expenses, impairment expense, depreciation and amortisation, fair value gain/loss on foreign exchange contracts, and unrealised foreign exchange gain/loss that cannot be allocated to segments.

	(b) Geographical information

	In presenting information on the basis of geographical segments, segment revenue is based on the geographical location of customers whereas segment assets are based on the location of the assets.

	6 months to 31 July 2018 NZ $000’s		6 months to 31 July 2017 NZ $000’s

New Zealand		20,984		19,940
Australia		17,570		16,197
United States		14,383		15,496
Europe		3,813		8,154
		56,750		59,787

(c) Segment performance

	NZ Retail NZ$000’s			AU Retail NZ$000’s			NZ Wholesale NZ$000’s			AU Wholesale NZ$000’s			US Wholesale NZ$000’s			EU Wholesale NZ$000’s			e-commerce NZ$000’s			Unallocated NZ$000’s			Total
For the 6 months ended 31 July 2018
Revenue from external customers		15,571			8,758			4,556			6,757			3,047			3,813			14,248			-			56,750
Service income		-			-			-			-			-			-			-			-			-
		15,571			8,758			4,556			6,757			3,047			3,813			14,248			-			56,750

Cost of sales		(7,612	)		(4,246	)		(3,695	)		(5,246	)		(2,923	)		(3,007	)		(10,234	)		(2,109	)		(39,072	)
Gross margin		7,959			4,512			861			1,511			124			806			4,014			(2,109	)		17,678
Other segment expenses*		(6,856	)		(5,644	)		(672	)		(1,726	)		(1,187	)		(1,166	)		(5,375	)		-			(22,626	)
Unallocated expenses
Administrative expenses		-			-			-			-			-			-			-			(661	)		(661	)
Corporate expenses		-			-			-			-			-			-			-			(10,672	)		(10,672	)
Other foreign exchange gain/loss		-			-			-			-			-			-			-			845			845
EBITDA		1,103			(1,132	)		189			(215	)		(1,063	)		(360	)		(1,361	)		(12,597	)		(15,436	)
Brand transition, restructure and transaction expenses		-			-			-			-			-			-			-			(5,157	)		(5,157	)
Finance expense		-			-			-			-			-			-			-			(2,454	)		(2,454	)
Impairment expense		-			-			-			-			-			-			-			(4,182	)		(4,182	)
Depreciation and amortisation		-			-			-			-			-			-			-			(1,190	)		(1,190	)
Fair value (gain)/loss on foreign exchange contracts		-			-			-			-			-			-			-			2,306			2,306
Unrealised foreign exchange gain/(loss)		-			-			-			-			-			-			-			383			383
Fair value gain/(loss) on Convertible Note derivative		-			-			-			-			-			-			-			(775	)		(775	)
Loss before income tax expense		1,103			(1,132	)		189			(215	)		(1,063	)		(360	)		(1,361	)		(23,666	)		(26,505	)
Income tax expense		-			-			-			-			-			-			-			411			411
Loss after income tax expense		1,103			(1,132	)		189			(215	)		(1,063	)		(360	)		(1,361	)		(23,255	)		(26,094	)

	NZ Retail NZ$000’s			AU Retail NZ$000’s			NZ Wholesale NZ$000’s			AU Wholesale NZ$000’s			US Wholesale NZ$000’s			EU Wholesale NZ$000’s			e-commerce NZ$000’s			Unallocated NZ$000’s			Total
For the 6 months ended 31 July 2017
Revenue from external customers		15,072			8,030			4,092			6,497			4,803			8,154			13,139			-			59,787
		15,072			8,030			4,092			6,497			4,803			8,154			13,139			-			59,787

Cost of sales		(7,027	)		(4,085	)		(3,250	)		(6,294	)		(4,092	)		(6,308	)		(9,152	)		-			(40,207	)
Gross margin		8,045			3,946			842			203			711			1,846			3,987			-			19,580
Other segment expenses*		(6,462	)		(5,335	)		(449	)		(1,997	)		(1,507	)		(1,504	)		(5,407	)		-			(22,661	)
Unallocated expenses
Administrative expenses		-			-			-			-			-			-			-			(320	)		(320	)
Corporate expenses		-			-			-			-			-			-			-			(10,241	)		(10,241	)
Other foreign exchange gain/loss		-			-			-			-			-			-			-			(2,643	)		(2,643	)
EBITDA		1,583			(1,389	)		393			(1,794	)		(796	)		342			(1,420	)		(13,204	)		(16,285	)
Brand transition, restructure and transaction expenses		-			-			-			-			-			-			-			(1,112	)		(1,112	)
Finance expense		-			-			-			-			-			-			-			(4,776	)		(4,776	)
Depreciation and amortisation expense		-			-			-			-			-			-			-			(1,821	)		(1,821	)
Fair value (gain)/loss on foreign exchange contracts		-			-			-			-			-			-			-			(1,600	)		(1,600	)
Unrealised foreign exchange (gain)/loss		-			-			-			-			-			-			-			3,309			3,309
Fair value (gain)/loss on Convertible Note derivative		-			-			-			-			-			-			-			3,246			3,246
Loss before income tax expense		1,583			(1,389	)		393			(1,794	)		(796	)		342			(1,420	)		(15,958	)		(19,039	)
Income tax expense		-			-			-			-			-			-			-			(174	)		(174	)
Loss after income tax expense		1,583			(1,389	)		393			(1,794	)		(796	)		342			(1,420	)		(16,132	)		(19,213	)

* Other segment expenses relate to brand management expenses and some corporate expenses.

DisclosureOfOperatingSegmentLineItems [Line Items]

Operating Segment

7	Operating Segments

Segment information

Identification of reportable operating segments

The consolidated entities’ Director examined the group’s performance from both sales channel and geographical perspective and identified seven reportable segments being Australia Retail, New Zealand Retail, Australia wholesale, New Zealand wholesale, US Wholesale, EU Wholesale and e-commerce.

Australia retail

This segment covers retail and outlet stores located in Australia.

New Zealand retail

This segment covers retail and outlet stores located in New Zealand.

Australia wholesale

This segment covers the wholesale of intimates apparel to customers based in Australia.

New Zealand wholesale

This segment covers the wholesale of intimates apparel to customers based in New Zealand.

US wholesale

This segment covers the wholesale of intimates apparel to customers based in the United States of America.

Europe wholesale

This segment covers the wholesale of intimates apparel to customers based in Europe.

E-commerce

This segment covers the group’s online retail activities. E-commerce revenue for the periods ended 31 January 2018 and 31 January 2017 include revenue from a US brand called Fredericks of Hollywood for which Bendon Limited currently has a licence agreement.

These operating segments are based on the internal reports that are reviewed and used by the Chief Executive Officer (who is identified as the Chief Operating Decision Makers (‘CODM’) in assessing performance and in determining the allocation of resources.

The CODM reviews underlying EBITDA (earnings before interest, tax, depreciation and amortisation). The accounting policies adopted for internal reporting to the CODM are consistent with those adopted in the financial statements.

EBITDA is a financial measure which is not prescribed by IFRS and represents the profit adjusted for specific non-cash and significant items. The directors consider EBITDA to reflect the core earnings of the consolidated entity.

The information reported to the CODM is on a monthly basis.

Other Costs and Business Activities

Certain costs are not allocated to our reporting segment results, such as costs associated with the following:

- Corporate overheads, which is responsible for centralized functions such as information technology, facilities, legal, finance, human resources, business development, and procurement. These costs also include compensation costs and other miscellaneous operating expenses not charged to our operating segments, as well as interest and tax income and expense.

These costs are included with in “unallocated” segment in our segment performance.

Other assets and liabilities

We manage our assets and liabilities on a Group basis, not by segment. CODM does not regularly review any asset or liability information by segment and its preparation is impracticable. Accordingly, we do not report asset and liability information by segment.

(a)

Reconciliations

Reconciliation of segment revenue to consolidated statements of profit or loss and other comprehensive income:

	For the Year			For the 7 Months			For the Year			For the Year
	Ended 31			Ended 31			Ended 30			Ended 30
	January 2018			January 2017			June 2016			June 2015
	NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s
Total segment revenue		156,311			113,031			176,145			166,553
Intersegment eliminations		(24,923	)		(16,747	)		(32,855	)		(27,739	)
Other revenue		-			-			7,710			24
Total revenue		131,388			96,284			151,000			138,838

Reconciliation of segment EBITDA to the consolidated statements of profit or loss and other comprehensive income:

The Board meets on a monthly basis to assess the performance of each segment, net operating profit does not include non-operating revenue and expenses such as dividends, fair value gains and losses.

	For the Year			For the 7 Months			For the Year			For the Year
	Ended 31			Ended 31			Ended 30			Ended 30
	January 2018			January 2017			June 2016			June 2015
	NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s
Segment EBITDA		(24,053	)		(2,126	)		10,470			3,420
Income tax (expense)/benefit		(60	)		(865	)		(5,546	)		1,274
Other revenue		-			-			7,710			24
Any other reconciling items		(13,480	)		(12,988	)		(33,380	)		(17,823	)
Total net loss after tax		(37,593	)		(15,979	)		(20,746	)		(13,105	)

Any other reconciling items includes brand transition, finance expenses, impairment expense, depreciation and amortisation, fair value gain/loss on foreign exchange contracts, and unrealised foreign exchange gain/loss that cannot be allocated to segments.

(b)

Geographical information

In presenting information on the basis of geographical segments, segment revenue is based on the geographical location of customers whereas segment assets are based on the location of the assets.

	For the Year		For the 7 Months		For the Year		For the Year
	Ended 31		Ended 31		Ended 30		Ended 30
	January 2018		January 2017		June 2016		June 2015
	NZ$000’s		NZ$000’s		NZ$000’s		NZ$000’s
New Zealand		46,665		30,676		62,109		54,834
Australia		38,208		32,913		53,193		51,997
United States		32,323		23,146		19,167		14,435
Europe		14,192		9,549		16,531		17,572
		131,388		96,284		151,000		138,838

(c)

Segment performance

	NZ Retail			AU Retail			NZ Wholesale			AU Wholesale			US Wholesale			EU Wholesale			e-commerce			Unallocated			Total
For the year ended 31 January 2018	NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s
Revenue from external customers		34,269			18,236			10,453			15,512			6,390			14,192			32,234			-			131,286
Service income		-			-			-			-			-			-			-			102			102
		34,269			18,236			10,453			15,512			6,390			14,192			32,234			102			131,388
Cost of sales		(16,488	)		(9,457	)		(8,213	)		(12,545	)		(6,438	)		(10,221	)		(20,974	)		(3,123	)		(87,459	)
Gross margin		17,781			8,779			2,240			2,967			(48	)		3,971			11,260			(3,021	)		43,929
Other segment expenses*		(13,451	)		(11,329	)		(1,068	)		(3,781	)		(3,301	)		(2,904	)		(11,520	)		-			(47,354	)
Unallocated expenses
Administrative expenses		-			-			-			-			-			-			-			(1,101	)		(1,101	)
Corporate expenses		-			-			-			-			-			-			-			(19,150	)		(19,150	)
Other foreign exchange gain/loss		-			-			-			-			-			-			-			(377	)		(377	)
EBITDA		4,330			(2,550	)		1,172			(814	)		(3,349	)		1,067			(260	)		(23,649	)		(24,053	)
Brand transition, restructure and transaction expenses		-			-			-			-			-			-			-			(3,272	)		(3,272	)
Finance expense		-			-			-			-			-			-			-			(8,791	)		(8,791	)
Impairment expense		-			-			-			-			-			-			-			(1,914	)		(1,914	)
Depreciation and amortisation		-			-			-			-			-			-			-			(3,030	)		(3,030	)
Fair value gain/(loss) on foreign exchange contracts		-			-			-			-			-			-			-			(502	)		(502	)
Unrealised foreign exchange gain/(loss)		-			-			-			-			-			-			-			1,636			1,636
Fair value gain/(loss) on Convertible Notes derivative		-			-			-			-			-			-			-			2,393			2,393
Loss before income tax expense		4,330			(2,550	)		1,172			(814	)		(3,349	)		1,067			(260	)		(37,129	)		(37,533	)
Income tax expense		-			-			-			-			-			-			-			(60	)		(60	)
Loss after income tax expense		4,330			(2,550	)		1,172			(814	)		(3,349	)		1,067			(260	)		(37,189	)		(37,593	)

	NZ Retail			AU Retail			NZ Wholesale			AU Wholesale			US Wholesale			EU Wholesale			e-commerce			Unallocated			Total
For the 7 months ended 31 January 2017	NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s
Revenue from external customers		21,953			12,053			7,484			18,091			9,015			9,548			18,140			-			96,284
		21,953			12,053			7,484			18,091			9,015			9,548			18,140			-			96,284
Cost of sales		(9,707	)		(5,592	)		(4,961	)		(11,431	)		(6,934	)		(6,277	)		(11,902	)		(340	)		(57,144	)
Gross margin		12,246			6,461			2,523			6,660			2,081			3,271			6,238			(340	)		39,140
Other segment expenses*		(7,480	)		(6,196	)		(475	)		(2,089	)		(2,065	)		(2,013	)		(3,654	)		(8,068	)		(32,040	)
Unallocated expenses
Administrative expenses		-			-			-			-			-			-			-			(541	)		(541	)
Corporate expenses		-			-			-			-			-			-			-			(8,082	)		(8,082	)
Other foreign exchange gain/loss		-			-			-			-			-			-			-			(603	)		(603	)
EBITDA		4,766			265			2,048			4,571			16			1,258			2,584			(17,634	)		(2,126	)
Brand transition, restructure and transaction expenses		-			-			-			-			-			-			-			(1,321	)		(1,321	)
Finance expense		-			-			-			-			-			-			-			(6,238	)		(6,238	)
Impairment expense		-			(281	)		-			-			-			-			-			(11	)		(292	)
Depreciation and amortisation expense		-			-			-			-			-			-			-			(1,842	)		(1,842	)
Fair value gain/(loss) on foreign exchange contracts		-			-			-			-			-			-			-			(2,135	)		(2,135	)
Unrealised foreign exchange (gain)/loss		-			-			-			-			-			-			-			(568	)		(568	)
Fair value (gain)/loss on Convertible Note derivative		-			-			-			-			-			-			-			(592	)		(592	)
Loss before income tax expense		4,766			(16	)		2,048			4,571			16			1,258			2,584			(30,341	)		(15,114	)
Income tax expense		-			-			-			-			-			-			-			(865	)		(865	)
Loss after income tax expense		4,766			(16	)		2,048			4,571			16			1,258			2,584			(31,206	)		(15,979	)

* Other segment expenses relate to brand management expenses and some corporate expenses.

	NZ			AU			NZ			AU			US			EU
For the year ended 30	Retail			Retail			Wholesale			Wholesale			Wholesale			Wholesale			e-commerce			Unallocated			Total
June 2016	NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s
Revenue from external customers		37,389			20,680			15,071			28,021			18,876			16,531			6,722			-			143,290
Service income		-			-			-			-			-			-			-			7,702			7,702
Other income		-			-			-			-			-			-			-			8			8
		37,389			20,680			15,071			28,021			18,876			16,531			6,722			7,710			151,000
Cost of sales		(16,053	)		(8,930	)		(10,721	)		(18,056	)		(14,540	)		(11,658	)		(3,582	)		15			(83,525	)
Gross margin		21,336			11,750			4,350			9,965			4,336			4,873			3,140			7,725			67,475
Other segment expenses*		(12,263	)		(9,835	)		(709	)		(3,520	)		(2,817	)		(3,204	)		(2,039	)		(13,975	)		(48,362	)
Unallocated expenses
Administrative expenses		-			-			-			-			-			-			-			(801	)		(801	)
Corporate expenses		-			-			-			-			-			-			-			(13,002	)		(13,002	)
Other foreign exchange gain/loss		-			-			-			-			-			-			-			5,160			5,160
EBITDA		9,073			1,915			3,641			6,445			1,519			1,669			1,101			(14,893	)		10,470
Brand transition, restructure and transaction expenses		-			-			-			-			-			-			-			(2,232	)		(2,232	)
Finance expense		-			-			-			-			-			-			-			(10,409	)		(10,409	)
Impairment expense		-			-			-			-			-			-			-			-			-
Depreciation and amortisation expense		-			-			-			(2,157	)		-			-			-			(3,289	)		(5,446	)
Fair value gain/(loss) on foreign exchange contracts		-			-			-			-			-			-			-			(7,660	)		(7,660	)
Unrealised foreign exchange (gain)/loss		-			-			-			-			-			-			-			77			77
Loss before income tax expense		9,073			1,915			3,641			4,288			1,519			1,669			1,101			(38,406	)		(15,200	)
Income tax expense		-			-			-			-			-			-			-			(5,546	)		(5,546	)
Loss after income tax expense		9,073			1,915			3,641			4,288			1,519			1,669			1,101			(43,952	)		(20,746	)

* Other segment expenses relate to brand management expenses and some corporate expenses.

	NZ			AU			NZ			AU			US			EU
For the year ended 30	Retail			Retail			Wholesale			Wholesale			Wholesale			Wholesale			e-commerce			Unallocated			Total
June 2015	NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s
Revenue from external customers		37,089			18,491			16,333			29,817			13,853			17,548			5,683			-			138,814
		-			-			-			-			-			-			-			24			24
		37,089			18,491			16,333			29,817			13,853			17,548			5,683			24			138,838
Cost of sales		(16,270	)		(8,066	)		(10,978	)		(18,461	)		(10,929	)		(11,258	)		(3,072	)		3			(79,031	)
Gross margin		20,819			10,425			5,355			11,356			2,924			6,290			2,611			27			59,807
Other segment expenses*		(11,885	)		(7,624	)		(1,787	)		(2,449	)		(2,536	)		(3,266	)		(1,991	)		(10,665	)		(42,203	)
Unallocated expenses
Administrative expenses		-			-			-			-			-			-			-			(441	)		(441	)
Corporate expenses		-			-			-			-			-			-			-			(13,940	)		(13,940	)
Other foreign exchange gain/loss		-			-			-			-			-			-			-			197			197
EBITDA		8,934			2,801			3,568			8,907			388			3,024			620			(24,822	)		3,420
Brand transition, restructure and transaction expenses		-			-			-			-			-			-			-			(12,182	)		(12,182	)
Finance expense		-			-			-			-			-			-			-			(5,870	)		(5,870	)
Depreciation and amortisation expense		-			-			-			-			-			-			-			(4,250	)		(4,250	)
Fair value gain/(loss) on foreign exchange contracts		-			-			-			-			-			-			-			6,330			6,330
Unrealised foreign exchange (gain)/loss		-			-			-			-			-			-			-			(1,827	)		(1,827	)
Loss before income tax expense		8,934			2,801			3,568			8,907			388			3,024			620			(42,621	)		(14,379	)
Income tax expense		-			-			-			-			-			-			-			1,274			1,274
Loss after income tax expense		8,934			2,801			3,568			8,907			388			3,024			620			(41,347	)		(13,105	)

* Other segment expenses relate to brand management expenses and some corporate expenses.

Cash and Cash Equivalents (Bendon Limited)

12 Months Ended

Jan. 31, 2018

Statement Line Items [Line Items]

Cash and Cash Equivalents

31 January

30 June

2018

2017

2016

2015

NZ$000’s

Cash on hand

Cash at bank

10,685

2,596

4,146

1,194

10,739

2,644

4,193

1,246

Trade and Other Receivables (Bendon Limited)

12 Months Ended

Jan. 31, 2018

TradeAndOtherReceivableLineItems [Line Items]

Trade and Other Receivables

Trade and Other Receivables

		31 January			31 January			30 June			30 June
		2018			2017			2016			2015
			NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s
Trade receivables			9,982			26,499			20,603			16,020
Provision for impairment	(a)		(326	)		(537	)		(268	)		(340	)
			9,656			25,962			20,335			15,680
Prepayments			1,792			1,779			2,659			935
Other receivables			1,717			349			347			206
			13,165			28,090			23,341			16,821

Due to the short-term nature of the current receivables, their carrying amount is considered to be the same as their fair value.

(a)

Impairment of receivables

Reconciliation of changes in the provision for impairment of receivables is as follows:

	For the Year			For the 7 Months			For the Year			For the Year
	Ended 31			Ended 31			Ended 30			Ended 30
	January 2018			January 2017			June 2016			June 2015
		NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s
Balance at beginning of the period		(537	)		(268	)		(340	)		(368	)
Provision charged		(92	)		(364	)		(16	)		-
Reversal of impairment		316			80			88			28
Foreign exchange movement		(13	)		15			-			-
Balance at end of the period		(326	)		(537	)		(268	)		(340	)

(b)

Aged analysis

The ageing analysis of receivables is as follows:

	31 January		31 January		30 June		30 June
	2018		2017		2016		2015
	NZ$000’s		NZ$000’s		NZ$000’s		NZ$000’s
0-30 days		7,945		14,883		12,769		14,209
31-60 days		335		2,566		1,934		466
61-90 days (past due not impaired)		489		2,166		1,081		472
61-90 days (considered impaired)		-		-		-		-
91+ days (past due not impaired)		1,213		6,884		4,551		533
91+ days (considered impaired)		-		-		268		340
		9,982		26,499		20,603		16,020

(c)

Transferred receivables

The carrying amounts of the trade receivables include receivables which are subject to a bank funding arrangement. Under this arrangement, Bendon has transferred the relevant receivables to BNZ in exchange for cash and is prevented from selling or pledging the receivables. However Bendon has retained credit risk. The group therefore continues to recognise the transferred assets in their entirety in the balance sheet. The amount repayable under the factoring agreement is presented as secured borrowings.

31 January

30 June

2018

2017

2016

2015

NZ$000’s

Transferred receivables

9,790

11,649

14,599

Inventories (Bendon Limited)

12 Months Ended

Jan. 31, 2018

DisclosureOfInventoriesLineItems [Line Items]

Disclosure of detailed information about property, plant and equipment [abstract]

Inventories

	31 January			31 January			30 June			30 June
	2018			2017			2016			2015
	NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s
Finished goods		31,451			37,904			37,998			46,424
Provision for impairment		(338	)		(153	)		(426	)		(764	)
		31,113			37,751			37,572			45,660

Write downs of inventories to net realisable value during the period were NZ$ 298,098 (2017: NZ$ NIL, 2016: NZ$ NIL, 2015: NZ$ NIL).

Property, Plant and Equipment

6 Months Ended

Jul. 31, 2018

Disclosure of detailed information about property, plant and equipment [line items]

8	Property, plant and equipment

	31 July 2018 NZ $000’s			31 January 2018 NZ $000’s
Plant, furniture, fittings and motor vehicles At cost		26,461			27,801
Accumulated depreciation		(25,973	)		(25,789	)
		488			2,013

Leasehold improvements
At cost		12,254			10,762
Accumulated depreciation		(8,688	)		(8,034	)
		3,566			2,728
Total property, plant and equipment		4,054			4,741

(a) Movements in carrying amounts of property, plant and equipment

Movement in the carrying amounts for each class of property, plant and equipment between the beginning and the end of the current financial period:

Leasehold improvements
NZ $000’s

Plant, furniture,
fittings and
motor vehicles
NZ $000’s

Total
NZ $000’s

6 months ended 31 July 2018

Balance at the beginning of the period

2,728

2,013

4,741

Additions

1,362

(914

)

448

Disposals

(301

)

(301

)

Depreciation expense

(501

)

(569

)

(1,070

)

Impairment

(28

)

(28

)

Foreign exchange movements

(23

)

287

264

Balance at the end of the year

3,566

488

4,054

	Leasehold improvements NZ $000’s			Plant, furniture, fittings and motor vehicles NZ $000’s			Total NZ $000’s
6 months ended 31 January 2018
Balance at the beginning of the year		2,541			1,736			4,277
Additions		227			1,467			1,694
Depreciation expense		(238	)		(1,088	)		(1,326	)
Impairment		-			(111	)		(111	)
Foreign exchange movements		198			9			207
Balance at the end of the half year		2,728			2,013			4,741

Property, Plant and Equipment (Bendon Limited)

6 Months Ended

12 Months Ended

Jul. 31, 2018

Jan. 31, 2018

8	Property, plant and equipment

	31 July 2018 NZ $000’s			31 January 2018 NZ $000’s
Plant, furniture, fittings and motor vehicles At cost		26,461			27,801
Accumulated depreciation		(25,973	)		(25,789	)
		488			2,013

Leasehold improvements
At cost		12,254			10,762
Accumulated depreciation		(8,688	)		(8,034	)
		3,566			2,728
Total property, plant and equipment		4,054			4,741

(a) Movements in carrying amounts of property, plant and equipment

Movement in the carrying amounts for each class of property, plant and equipment between the beginning and the end of the current financial period:

Leasehold improvements
NZ $000’s

Plant, furniture,
fittings and
motor vehicles
NZ $000’s

Total
NZ $000’s

6 months ended 31 July 2018

Balance at the beginning of the period

2,728

2,013

4,741

Additions

1,362

(914

)

448

Disposals

(301

)

(301

)

Depreciation expense

(501

)

(569

)

(1,070

)

Impairment

(28

)

(28

)

Foreign exchange movements

(23

)

287

264

Balance at the end of the year

3,566

488

4,054

	Leasehold improvements NZ $000’s			Plant, furniture, fittings and motor vehicles NZ $000’s			Total NZ $000’s
6 months ended 31 January 2018
Balance at the beginning of the year		2,541			1,736			4,277
Additions		227			1,467			1,694
Depreciation expense		(238	)		(1,088	)		(1,326	)
Impairment		-			(111	)		(111	)
Foreign exchange movements		198			9			207
Balance at the end of the half year		2,728			2,013			4,741

Disclosure of detailed information about property, plant and equipment [line items]

Disclosure of detailed information about intangible assets [abstract]

Property, plant and equipment

	31 January			31 January			30 June			30 June
	2018			2017			2016			2015
	NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s

Plant, furniture, fittings and motor vehicles
At cost		27,801			25,455			26,269			24,687
Accumulated depreciation		(25,788	)		(23,182	)		(22,855	)		(21,176	)
		2,013			2,273			3,414			3,511

Leasehold Improvements
At cost		10,762			10,132			10,640			11,111
Accumulated depreciation		(8,034	)		(7,441	)		(7,845	)		(7,769	)
		2,728			2,691			2,795			3,342
Total property, plant and equipment		4,741			4,964			6,209			6,853

(a)

Movements in carrying amounts of property, plant and equipment

Movement in the carrying amounts for each class of property, plant and equipment between the beginning and the end of the current financial period:

Plant, furniture,

Leasehold

fittings and

improvements

motor vehicles

Total

NZ$000’s

Year ended 31 January 2018

Balance at the beginning of period

2,691

2,273

4,964

Additions

285

2,032

2,317

Disposals

)

(118

)

(122

)

Depreciation expense

(496

)

(2,228

)

(2,724

)

Foreign exchange movements

252

306

Balance at the end of the year

2,728

2,013

4,741

				Plant, furniture,
	Leasehold			fittings and
	improvements			motor vehicles			Total
	NZ$000’s			NZ$000’s			NZ$000’s
7 months ended 31 January 2017
Balance at the beginning of period		2,795			3,414			6,209
Additions		241			482			723
Depreciation expense		(296	)		(1,368	)		(1,664	)
Impairment		-			(281	)		(281	)
Foreign exchange movements		(49	)		26			(23	)
Balance at the end of the year		2,691			2,273			4,964

				Plant, furniture,
	Leasehold			fittings and
	Improvements			motor vehicles			Total
	NZ$000’s			NZ$000’s			NZ$000’s
Year ended 30 June 2016
Balance at the beginning of year		3,342			3,511			6,853
Additions		205			2,498			2,703
Disposals
Depreciation expense		(469	)		(2,497	)		(2,966	)
Foreign exchange movements		(283	)		(98	)		(381	)
Balance at the end of the year		2,795			3,414			6,209

							Plant, furniture,
	Plant under			Leasehold			fittings and
	finance lease			Improvements			motor vehicles			Total
		NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s

Year ended 30 June 2015
Balance at the beginning of year		461			3,841			1,038			5,340
Additions		-			96			4,605			4,701
Depreciation expense		(461	)		(657	)		(2,242	)		(3,360	)
Foreign exchange movements		-			62			110			172
Balance at the end of the year		-			3,342			3,511			6,853

The management decided to fully impair the costs on the ERP upgrade, and this software will need to be replaced and updated with more advanced system.

Intangible Assets

6 Months Ended

Jul. 31, 2018

Intangible Assets

9	Intangible Assets

	31 July 2018 NZ $000’s			31 January 2018 NZ $000’s

Patents and licences
Cost		1,037			919
Accumulated amortisation and impairment		(820	)		(718	)
Net book amount		217			201

Brands
Cost		15,091			12,463
Impairment		(696	)		-
Net book amount		14,395			12,463

Software
Cost		15,729			15,788
Accumulated amortisation and impairment		(15,453	)		(15,440	)
Net book amount		276			348

Goodwill
Costs		5,798			-
Impairment		(3,399	)		-
Net book amount		2,399			-

Total intangible assets		17,287			13,012

(a) Movements in carrying amounts of intangible assets

Goodwill
NZ $000’s

Software
NZ $000’s

Patents and licences
NZ $000’s

Brands
NZ $000’s

Total
NZ $000’s

Year ended 31 January 2018

Balance at the beginning of the year

348

201

12,463

13,012

Additions

5,798

119

2,726

8,675

Disposals

(22

)

(22

)

Amortisation

(17

)

(103

)

(120

)

Impairment (refer note 9e)

(3,399

)

(64

)

(696

)

(4,159

)

Foreign exchange movements

)

(98

)

(99

)

Closing value at 31 July 2018

2,399

276

217

14,395

17,287

	Goodwill NZ $000’s		Software NZ $000’s			Patents and licences NZ $000’s			Brands NZ $000’s		Total NZ $000’s
6 months ended 31 July 2017
Balance at the beginning of the period		-		1,957			536			12,206		14,699
Additions		-		101			-			-		101
Amortisation		-		(64	)		(71	)		-		(135	)
Impairment		-		(1,650	)		(264	)				(1,914	)
Foreign exchange movements		-		4			0			257		261
Closing value at 31 January 2018		-		348			201			12,463		13,012

(b) Impairment testing for indefinite-lived brand intangibles

Brand intangible assets represent brands owned by the Group, that arose on historical acquisitions including Pleasure State, Davenport and Lovable. The intangible assets increased in current period as result of the business combination with Naked Brand Group Inc. See note 15 for further information.

The brand intangible assets of $14,395,000 (31 January 2018: $12,463,000) are tested for impairment annually.

Impairment assumptions

Management has determined the recoverable amount of the indefinite-lived brand assets by assessing the fair value less cost of disposal (FVLCOD) of the underlying assets. The relief from royalty method adopted to complete the valuation determines, in lieu of ownership, the cost that would be required to obtain comparable rights to use the asset via a third-party licence arrangement. These calculations use cash flow projections based on financial budgets approved by management covering a five year period. Cash flows beyond the five year period are extrapolated using the estimated growth rates shown below. These growth rates do not exceed the long-term average growth rates for the industry. The result of the impairment assessment is that the carrying value exceeded the fair value less costs to sell by an amount of $696 thousand (31 January 2018: nil). As such, the indefinite-lived brand assets have been partially impaired during the half year ended 31 July 2018.

Management’s approach and the key assumptions used to determine the FVLCOD were as follows:

Sales growth: 2.5% (31 January 2018: 5%)
Royalty rate: 6.6% (31 January 2018: 6.6%)
Cash flow - revenue forecast period: 5 years (31 January 2018: 5 years)
Post-tax discount rate (%): 11.4% (31 January 2018: 11.4%)
Long term sales growth rate (%): 2% (31 January 2018: 2%)

Impact of possible changes in key assumptions

The directors have made judgements and estimates to assess indefinite-lived brand assets for impairment. Should these judgements and estimates not occur the resulting carrying amount may decrease.

The sensitivities that have been separately modelled are as follows:

(a) a 2.1% increase in the post-tax discount rate
(b) sales growth rate reduced to 0%

The carrying amounts of the indefinite-lived brand intangible assets are sensitive to assumptions used in the impairment test calculations including the post-tax discount rate and sales growth rate. A 2.1% increase in the post-tax discount rate would result in an impairment of $1,739 thousand (31 January 2018: an increase of 1.5% would result an impairment of $929 thousand) against the carrying amount of the indefinite-lived brand intangibles. A reduction of the sales growth rate to 0% would result in an impairment of $1,341 thousand (31 January 2018: a reduction to 2% would result an impairment of $611 thousand) against the carrying amount of the indefinite-lived brand intangible assets.

(c) Impairment of goodwill

For the purpose of impairment testing, goodwill is allocated to cash-generating units as below:

Description of cash-generating unit (CGU)

	31 July 2018 NZ $000’s
United States		5,798
Impairment expense		(3,399	)
		2,399

Impairment assumption

Goodwill was allocated to the Group’s operation in United States which is the cash generating unit (CGU) for the purpose of impairment testing. The recoverable amount of the CGU was determined based on value-in-use calculations which require the use of assumptions. The calculations use cash flow projections based on financial budgets approved by management covering a five-year period. Cash flows beyond the five-year period are extrapolated using the estimated growth rates stated below. These growth rates do not exceed the long-term average growth rates for the industry.

The result of the impairment assessment is that the carrying value exceeded the fair value less costs to sell by an amount of $3.4m. As such, the goodwill has been partially impaired during the half year ended 31 July 2018.

Significant assumptions used for the purposes of the value-in-use calculation include:

United States

Post-tax discount rate - 10.25%

EBITDA growth rate - 10%

Terminal growth - 2%

Impact of possible changes in key assumptions

The directors have made judgements and estimates to assess goodwill for impairment. Should these judgements and estimates not occur the resulting carrying amount may decrease.

The sensitivities that have been separately modelled are as follows:
(a) a 3.25% increase in the post-tax discount rate
(b) sales growth rate reduced to 5%

The carrying amount of the goodwill is sensitive to assumptions used in the impairment test calculations including the post-tax discount rate and sales growth rate. A 3.25% increase in the post-tax discount rate would result in an impairment of $1,833 thousand against the carrying amount of the goodwill. A reduction of the sales growth rate to 5% would result in an impairment of $566 thousand against the carrying amount of the goodwill.

(e) Impairment of software

Impairment charge relating to software is due to management deciding to fully impair the costs on the ERP upgrade, as this software will need to be replaced and updated with more advanced system.

Intangible Assets (Bendon Limited)

6 Months Ended

12 Months Ended

Jul. 31, 2018

Jan. 31, 2018

Disclosure of detailed information about intangible assets [line items]

Intangible Assets

9	Intangible Assets

	31 July 2018 NZ $000’s			31 January 2018 NZ $000’s

Patents and licences
Cost		1,037			919
Accumulated amortisation and impairment		(820	)		(718	)
Net book amount		217			201

Brands
Cost		15,091			12,463
Impairment		(696	)		-
Net book amount		14,395			12,463

Software
Cost		15,729			15,788
Accumulated amortisation and impairment		(15,453	)		(15,440	)
Net book amount		276			348

Goodwill
Costs		5,798			-
Impairment		(3,399	)		-
Net book amount		2,399			-

Total intangible assets		17,287			13,012

(a) Movements in carrying amounts of intangible assets

Goodwill
NZ $000’s

Software
NZ $000’s

Patents and licences
NZ $000’s

Brands
NZ $000’s

Total
NZ $000’s

Year ended 31 January 2018

Balance at the beginning of the year

348

201

12,463

13,012

Additions

5,798

119

2,726

8,675

Disposals

(22

)

(22

)

Amortisation

(17

)

(103

)

(120

)

Impairment (refer note 9e)

(3,399

)

(64

)

(696

)

(4,159

)

Foreign exchange movements

)

(98

)

(99

)

Closing value at 31 July 2018

2,399

276

217

14,395

17,287

	Goodwill NZ $000’s		Software NZ $000’s			Patents and licences NZ $000’s			Brands NZ $000’s		Total NZ $000’s
6 months ended 31 July 2017
Balance at the beginning of the period		-		1,957			536			12,206		14,699
Additions		-		101			-			-		101
Amortisation		-		(64	)		(71	)		-		(135	)
Impairment		-		(1,650	)		(264	)				(1,914	)
Foreign exchange movements		-		4			0			257		261
Closing value at 31 January 2018		-		348			201			12,463		13,012

(b) Impairment testing for indefinite-lived brand intangibles

The brand intangible assets of $14,395,000 (31 January 2018: $12,463,000) are tested for impairment annually.

Impairment assumptions

Management’s approach and the key assumptions used to determine the FVLCOD were as follows:

Impact of possible changes in key assumptions

The directors have made judgements and estimates to assess indefinite-lived brand assets for impairment. Should these judgements and estimates not occur the resulting carrying amount may decrease.

The sensitivities that have been separately modelled are as follows:

(a) a 2.1% increase in the post-tax discount rate
(b) sales growth rate reduced to 0%

(c) Impairment of goodwill

For the purpose of impairment testing, goodwill is allocated to cash-generating units as below:

Description of cash-generating unit (CGU)

	31 July 2018 NZ $000’s
United States		5,798
Impairment expense		(3,399	)
		2,399

Impairment assumption

Significant assumptions used for the purposes of the value-in-use calculation include:

United States

Post-tax discount rate - 10.25%

EBITDA growth rate - 10%

Terminal growth - 2%

Impact of possible changes in key assumptions

The directors have made judgements and estimates to assess goodwill for impairment. Should these judgements and estimates not occur the resulting carrying amount may decrease.

The sensitivities that have been separately modelled are as follows:
(a) a 3.25% increase in the post-tax discount rate
(b) sales growth rate reduced to 5%

(e) Impairment of software

Impairment charge relating to software is due to management deciding to fully impair the costs on the ERP upgrade, as this software will need to be replaced and updated with more advanced system.

Disclosure of detailed information about intangible assets [line items]

Intangible Assets

Intangible Assets

	31 January			31 January			30 June			30 June
	2018			2017			2016			2015
	NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s
Goodwill
Cost		-			-			2,157			2,347
Accumulated impairment		-			-			(2,157	)		-
		-			-			-			2,347

Patents and licences
Cost		919			1,169			818			557
Accumulated amortisation and impairment		(718	)		(573	)		(544	)		(540	)
		201			596			274			17
Brands
Cost		12,463			12,036			12,105			12,702
Software
Cost		15,788			17,308			17,312			17,131
Accumulated amortisation and impairment		(15,440	)		(15,260	)		(15,116	)		(14,816	)
		348			2,048			2,196			2,315
Total Intangible assets		13,012			14,680			14,575			17,381

(a)

Movements in carrying amounts of intangible assets

Patents and

Software

licences

Brands

Goodwill

Total

NZ$000’s

Year ended 31 January 2018

Balance at the beginning of the year

2,048

596

12,036

14,680

Additions

106

118

Amortisation

(163

)

(143

)

(306

)

Impairment (refer note 12(c)

(1,650

)

(264

)

(1,914

)

Foreign exchange movements

427

434

Closing value at 31 January 2018

348

201

12,463

13,012

				Patents and
	Software			licences			Brands			Goodwill		Total
	NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s		NZ$000’s
7 months ended 31 January 2017
Balance at the beginning of the period		2,196			274			12,105			-		14,575
Additions		-			351			-			-		351
Amortisation		(148	)		(30	)		-			-		(178	)
Foreign exchange movements		-			1			(69	)		-		(68	)
Closing value at 31 January 2017		2,048			596			12,036			-		14,680

				Patents and
	Software			licences			Brands			Goodwill			Total
	NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s
Year ended 30 June 2016
Balance at the beginning of the year		2,315			17			12,702			2,347			17,381
Additions		211			264			-			-			475
Amortisation		(316	)		(7	)		-			-			(323	)
Impairment		-			-			-			(2,157	)		(2,157	)
Foreign exchange movements		(14	)		-			(597	)		(190	)		(801	)
Closing value at 30 June 2016		2,196			274			12,105			-			14,575

				Patents and
	Software			licences			Brands		Goodwill		Total
	NZ$000’s			NZ$000’s			NZ$000’s		NZ$000’s		NZ$000’s
Year ended 30 June 2015
Balance at the beginning of the year		2,081			117			12,274		2,211		16,683
Additions		1,093			-			-		-		1,093
Amortisation		(787	)		(104	)		-		-		(891	)
Foreign exchange movements		(72	)		4			428		136		496
Closing value at 30 June 2015		2,315			17			12,702		2,347		17,381

(b)

Impairment testing for goodwill

The goodwill was fully impaired during the year ending 30 June 2016.

For the purpose of impairment testing, goodwill is allocated to cash-generating units as below:

	For the Year		For the 7		For the Year			For the Year
	Ended		Months Ended		Ended			Ended
Description of the cash-generating unit (CGU)		31 January 2018	31 January 2017		30 June 2016			30 June 2015
	NZ $000’s		NZ $000’s		NZ $000’s			NZ $000’s
Australia		-		-		2,157			2347
Impairment expense		-		-		(2,157	)		-
		-		-		-			2347

Impairment assumptions

Goodwill was allocated to Australia which is the cash generating unit (CGU) for the purpose of impairment testing. The recoverable amount of the CGU was determined based on the fair value less cost to sell method.

The fair value less costs to dispose calculation was based on a discount of the anticipated cash flows that a market participant would consider is possible from the asset, over a five year period. Cash flows beyond the five year period are extrapolated using the estimated growth rates shown below. These growth rates do not exceed the long-term average growth rates for the industry.

The result of the impairment assessment is that the carrying value exceeded the fair value less costs to sell by an amount of $2.2m. As such, the goodwill has been fully impaired during the year ended 30 June 2016.

Significant assumptions used for the purposes of the fair value calculation include:

Australia

Annualised restructuring savings - $1.035m

Pre-tax discount rate - 12.7%

Terminal growth - 3.5%

(c)

Impairment testing for indefinite-lived brand intangibles

Brand intangible assets represent brands owned by the Group, that arose on historical acquisitions including Pleasure State, Davenport and Lovable.

The brand intangible assets $12,463,000 (31 January 2017: $12,036,000, 30 June 2016: $12,105,000, 30 June 2015: $12,702,000) are tested for impairment annually.

Impairment assumptions

Management’s approach and the key assumptions used to determine the FVLCOD were as follows:

Sales growth: 5% (31 January 2017: 5%, 30 June 2016: 5%, 30 June 2015: 2%)

Royalty rate: 6.6% (31 January 2017: 6.6%, 30 June 2016: 6.6%, 30 June 2015: 6.6%)

Cash flow forecast period: 5 years (31 January 2017: 5 years, 30 June 2016: 5 years, 30 June 2015: 5 years)

Post-tax discount rate (%): 11.4% (31 January 2017: 11.4%, 30 June 2016: 11.4%, 30 June 2015: 11.4%)

Long term growth rate (%): 2% (31 January 2017: 2%, 30 June 2016: 2%, 30 June 2015: 0%)

Impact of possible changes in key assumptions

The directors have made judgements and estimates to assess indefinite-lived assets for impairment. Should these judgements and estimates not occur the resulting carrying amount may decrease.

The sensitivities that have been separately modelled are as follows:

(a) a 1.5% increase in the post-tax discount rate

(b) sales growth rate reduced to 2%

In the prior years, there were no reasonably possible changes in key assumptions that resulted in impairment.

The carrying amounts of the indefinite-lived brand intangible assets are sensitive to assumptions used in the impairment test calculations including the post-tax discount rate, sales growth rate and royalty rate. A 1.5% increase in the post-tax discount rate would result in an impairment of $928 thousand against the carrying amount of the indefinite-lived brand intangibles. A reduction of the sales growth rate to 2% would result in an impairment of $611 thousand against the carrying amount of the indefinite-lived brand intangible assets. A 1.5% reduction in the royalty rate would result in an impairment of $2,267 thousand against the carrying amount of the indefinite-lived brand intangibles.

(d)

Impairment of software

Impairment charge relating to software is due to management deciding to fully impair the costs on the ERP upgrade, as this software will need to be replaced and updated with more advanced system.

Derivative Financial Instruments

6 Months Ended

Jul. 31, 2018

Derivative Financial Instruments

Derivative Financial Instruments

10	Derivative Financial Instruments

	31 July 2018 NZ $000’s		31 January 2018 NZ $000’s
Current assets
Forward exchange contracts		220		-

	31 July 2018 NZ $000’s		31 January 2018 NZ $000’s
Current liabilities
Forward exchange contracts		-		4,188

In order to mitigate exchange rate movements and to manage the inventory costing process, the Group has entered into forward currency contracts to purchase US dollars.

Derivative Financial Instruments (Bendon Limited)

6 Months Ended

12 Months Ended

Jul. 31, 2018

Jan. 31, 2018

DisclosureOfDerivativeFinancialInstrumentsLineItems [Line Items]

Derivative Financial Instruments

10	Derivative Financial Instruments

	31 July 2018 NZ $000’s		31 January 2018 NZ $000’s
Current assets
Forward exchange contracts		220		-

	31 July 2018 NZ $000’s		31 January 2018 NZ $000’s
Current liabilities
Forward exchange contracts		-		4,188

In order to mitigate exchange rate movements and to manage the inventory costing process, the Group has entered into forward currency contracts to purchase US dollars.

DisclosureOfDerivativeFinancialInstrumentsLineItems [Line Items]

Derivative Financial Instruments

Derivative Financial Instruments

31 January

30 June

2018

2017

2016

2015

NZ$000’s

Current assets

Forward exchange contracts

2,289

31 January

30 June

2018

2017

2016

2015

NZ$000’s

Current liabilities

Foreign exchange contracts

2,087

4,188

5,531

In order to mitigate exchange rate movements and to manage the inventory costing process, the Group has entered into forward currency contracts to purchase US dollars.

Derivative on Convertible Notes (Bendon Limited)

12 Months Ended

Jan. 31, 2018

DisclosureOfDerivativeOnConvertibleNotesLineItems [Line Items]

Derivative on Convertible Notes

Derivative on Convertible Notes

31 January

30 June

2018

2017

2016

2015

NZ$000’s

Derivative on Convertible Notes

1,110

4,112

The Group has an embedded derivative feature in convertible notes due to foreign currency. Derivatives are recognized initially at fair value; attributable transaction costs are recognized in profit or loss as incurred. Fair value of the derivative is determined on inception using the Black-Scholes model. Subsequent to initial recognition, derivatives are measured at fair value, and changes therein are accounted in profit or loss.

The fair value of the separable embedded derivative in the convertible notes has been determined using Black-Scholes model. Measurement inputs include share price on measurement date, expected term of the instrument, risk free rate (based on government bonds), expected volatility (based on weighted average historic volatility) and expected dividend rate.

Trade and Other Payables

6 Months Ended

Jul. 31, 2018

Trade And Other Payables

DisclosureOfTradeAndOtherPayablesLineItems [Line Items]

11	Trade and Other Payables

	31 July 2018 NZ $000’s		31 January 2018 NZ $000’s
CURRENT
Trade payables		24,438		21,143
Accruals		8,061		9,568
Employee benefits liabilities		2,234		1,805
		34,734		32,516

Trade and other payables are unsecured, non-interest bearing and are normally settled within 30 days however some the trade creditors are out of term as at 31 July 2018 and subsequent to the end of the financial period the company has reduced the out of term trade creditors but further work is required to bring all of the creditors in term. The carrying amounts are considered to be a reasonable approximation of fair value.

Trade and Other Payables (Bendon Limited)

6 Months Ended

12 Months Ended

Jul. 31, 2018

Jan. 31, 2018

11	Trade and Other Payables

	31 July 2018 NZ $000’s		31 January 2018 NZ $000’s
CURRENT
Trade payables		24,438		21,143
Accruals		8,061		9,568
Employee benefits liabilities		2,234		1,805
		34,734		32,516

DisclosureOfTradeAndOtherPayablesLineItems [Line Items]

Trade and Other Payables

31 January

30 June

2018

2017

2016

2015

NZ$000’s

CURRENT

Trade payables

21,143

19,221

18,357

25,302

Accruals

9,568

7,503

6,934

9,096

Employee benefit liabilities

1,805

1,842

1,524

2,152

32,516

28,566

26,815

36,550

31 January

30 June

2018

2017

2016

2015

NZ$000’s

Employee benefit liabilities

118

150

Trade and other payables are unsecured, non-interest bearing and are normally settled within 30 days however some the trade creditors are out of term as at 31 January 2018 and subsequent to the end of the financial period the company has reduced the out of term trade creditors but further work is required to bring all of the creditors in term. The carrying amounts are considered to be a reasonable approximation of fair value.

Borrowings

6 Months Ended

Jul. 31, 2018

Disclosure Of Borrowings Abstract

12	Borrowings

	31 July 2018 NZ $000’s			31 January 2018 NZ $000’s

CURRENT
Secured liabilities:
Shareholder loans		-			10,951
Bank Loans		20,000			16,000
Debt issuance costs in relation to bank loan		(80	)		(218	)
Working capital financing bank facility		-			22,489
Convertible notes		-			1,740
Loan note		1,247			1,159
		21,167			52,121

The fair value of borrowings is not considered to be materially different to their carrying amounts.

(a)

Assets pledged as security:

Borrowings are secured by a fixed and floating charge over the assets of the consolidated entity. The lease liabilities are effectively secured as the rights to the leased assets, recognised in the balance sheet, revert to the lessor in the event of default.

(b)

Bank overdrafts and bank loans

On 13 June 2018, the Company entered into a Deed of Amendment with BNZ to reduce the facility to NZD$20,000,000 (31 January 2018: NZD$38,489,428). In addition the new facility takes over guarantees and financial instruments totalling NZD$1,345,000.

The term loan facility of NZD$20,000,000 is repayable on 14 June 2019. The current interest rate on this loan is 5.66% (31 January 2018: 5.55%) per annum. There has been a breach of covenant during the period.

Bank of New Zealand has the first ranking charge over all assets of Bendon Limited. Under the terms of the major borrowing facility, the new facility is subject to four undertakings being: Interest cover ratio of three times that is first tested as at 30 April 2019; gross EBITDA ratio measured to 3 months to September 2018 had to be greater than $0, six months to 30 December 2018 is greater than $3 million; inventory and receivables ratio must be greater than 2 times being first measured as at 30 September 2018; and the actual sales and gross margin must not vary by more than 10% from the budget submitted to the Bank.

	(c)	Loan covenants

	As at 30 September 2018, there was a breach in minimum Gross EBITDA ratio. The Bank has advised that they are currently taking the Breach under review.

	(d)	Shareholder loan - Related party

	On 19 June 2018, Bendon Limited issued additional 24,221 Bendon shares to the shareholders as part of an agreement to convert debt to equity. The amount of debt converted on this date amounted to a fair value of $12,244,208. After this conversion, the shareholder loan is fully converted to equity and the outstanding balance as at 31 July 2018 is $nil (31 January 2018: $10,951,295).

	The interest rate on the shareholder loans up to the date of conversion was 30% (31 January 2018: 30%) and was increased at the end of 2014, and was capitalised quarterly. Total interest capitalised during the 6 months to 31 July 2018 is $1,061,588 (6 months to 31 July 2017: $1,291,962).

	(e)	Convertible Notes

	On 19th June 2018, the holders of USD$2.8m (NZ$4.2m) of convertible notes converted to 16,408 Bendon ordinary shares. The holder of US$1.0m (NZ$1.42m) of convertible notes elected for their convertible note to be repaid which is due on 31 January 2019. The amount owing has been classified as a current borrowing and amounted to $1.247million as at 31 July 2018.

Borrowings (Bendon Limited)

6 Months Ended

12 Months Ended

Jul. 31, 2018

Jan. 31, 2018

12	Borrowings

	31 July 2018 NZ $000’s			31 January 2018 NZ $000’s

CURRENT
Secured liabilities:
Shareholder loans		-			10,951
Bank Loans		20,000			16,000
Debt issuance costs in relation to bank loan		(80	)		(218	)
Working capital financing bank facility		-			22,489
Convertible notes		-			1,740
Loan note		1,247			1,159
		21,167			52,121

The fair value of borrowings is not considered to be materially different to their carrying amounts.

(a)

Assets pledged as security:

(b)

Bank overdrafts and bank loans

	(c)	Loan covenants

	As at 30 September 2018, there was a breach in minimum Gross EBITDA ratio. The Bank has advised that they are currently taking the Breach under review.

	(d)	Shareholder loan - Related party

	On 19 June 2018, Bendon Limited issued additional 24,221 Bendon shares to the shareholders as part of an agreement to convert debt to equity. The amount of debt converted on this date amounted to a fair value of $12,244,208. After this conversion, the shareholder loan is fully converted to equity and the outstanding balance as at 31 July 2018 is $nil (31 January 2018: $10,951,295).

	The interest rate on the shareholder loans up to the date of conversion was 30% (31 January 2018: 30%) and was increased at the end of 2014, and was capitalised quarterly. Total interest capitalised during the 6 months to 31 July 2018 is $1,061,588 (6 months to 31 July 2017: $1,291,962).

	(e)	Convertible Notes

	On 19th June 2018, the holders of USD$2.8m (NZ$4.2m) of convertible notes converted to 16,408 Bendon ordinary shares. The holder of US$1.0m (NZ$1.42m) of convertible notes elected for their convertible note to be repaid which is due on 31 January 2019. The amount owing has been classified as a current borrowing and amounted to $1.247million as at 31 July 2018.

Borrowings

		31 January			31 January			30 June			30 June
		2018			2017			2016			2015
	Note	NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s

CURRENT
Secured liabilities:
Bank overdraft			-			-			-			18,064
Shareholder loans			10,951			8,200			29,281			16,918
Lease liability	22		-			-			-			105
Bank loans			16,000			16,000			-			17,841
Debt issuance costs in relation to bank loan			(218	)		(656	)		(565	)		(42	)
Working capital financing bank facility			22,489			31,710			32,877			3,387
Convertible notes			1,740			13,744			-			-
Other loan			1,159			-			-			-
			52,121			68,998			61,593			56,273

The fair value of borrowings is not considered to be materially different to their carrying amounts.

31 January

30 June

2018

2017

2016

2015

NZ$000’s

NON-CURRENT

Secured liabilities:

Bank loans

16,000

The fair value of borrowings is not considered to be materially different to their carrying amounts.

(a)

Assets pledged as security:

(b)

Bank overdrafts and bank loans

On 27 June 2016, all banking facilities were repaid and a new banking arrangement with BNZ commenced. BNZ has a first ranking charge over all assets of the Bendon Limited group.

The new debt arrangement entered into on 27 June 2016 includes a term loan facility and interchangeable (working capital) loan facility.

The term loan facility of NZD$16,000,000 is repayable on 27 June 2018. The current interest rate on this loan is 5.55% (31 January 2017: 4.84%, 2016: 4.77%) per annum. There has been a breach of covenant during the period.

As at 31 January 2018, the interchangeable facility is NZD$22,489,428 (31 January 2017: NZD$31,710,000, 30 June 2016: NZD$32,877,397) has a limit of NZD$35,000,000 and is repayable on demand. The current interest rate on this loan is 5.32% (31 January 2017: 3.87%). It provides a working capital facility, by allowing the Company to sell its trade receivables and fund the purchases of stock.

Bank of New Zealand has the first ranking charge over all assets of Bendon Limited. Under the terms of the major borrowing facilities, there were no covenants in place until 31 December 2016. From this date onwards, the group is required to comply with financial covenants in respect of a gearing ratio, fixed charge cover ratio, interest cover ratio, and capex spend.

As at 30 September 2017, 31 December 2017 there was a breach in the gearing ratio covenant that is not to be greater than 2.25 times for the reporting period. As at those dates the gearing ratio, as defined by the bank facility agreement was calculated at 6.45 times and 5.96 respectively. The Bank has advised that they are currently taking the Breach under review and they expressly reserve their rights under the facility agreement. The covenant is still in breach, and this is still under review as at the date of the report.

Subsequent to the end of the period Bendon has reduced the facility by the following: $1.8m on 4 August 2017, $2.7m on 7 August 2017 and $4.3m on 31 August 2017 as a permanent reduction.

The Bank has increased the Margin to 2% per annum and line fee of 1%.

(c)

Shareholder loan - Related party

The Group has loan from shareholders of $10,951,295 (31 January 2017: $8,200,000, 30 June 2016: $29,280,991, 30 June 2015: $16,917,902), which are secured by a debenture over the assets of the Group, subordinated to the bank loan.

On 29 September 2016, Bendon Limited issued additional 24,839 shares to the shareholders as part of an agreement to convert debt to equity. The amount of debt converted on this date amounted to $24,839,783. The remainder of the shareholder loan remained outstanding and is at call as per the shareholders Agreement. The shareholder has confirmed the loan will not be recalled in the period twelve months from the date of signing the 31 January 2018 financial statements.

The current interest rate on shareholder loans is 30% (31 January 2017: 30%, 30 June 2016: 30%, 30 June 2015: 30%) and was increased at the end of 2014, and is capitalised quarterly. Total interest capitalised and accrued during the year ending 31 January 2018 is $2,806,945 (2017: $6,436,987, year ended 30 June 2016: $7,042,000, year ended 30 June 2015: $3,192,000).

(d)

Convertible notes

During the year to 31 January 2018, Bendon Limited has on issue an aggregate amount of USD$2,600,000 (NZD$3,624,198) (31 January 2017: USD$12,000,000 (NZD$16,474,465) convertible loan notes with 10% interest pursuant to an Investment Agreement dated on 9 August 2017. The convertible notes are subject to a conversion at a fixed value on the business day immediately prior to the Scrip-for-Scrip Rollover and maturity date of 10th August 2019. Conversion is at the noteholders option. If conversion does not occur the convertible notes are redeemable at maturity. The issuer can elect to redeem at any time prior to maturity.

On 29th September 2017, the holders of USD$11.75m (NZ$16.79m) of convertible notes converted to 23,961 ordinary shares. The holder of US$1.0m (NZ$1.42m) of convertible notes elected for their convertible note to be repaid, and classified as other loan.

The carrying value of the convertible notes at initial recognition is determined as the difference between the consideration received and the fair value of the embedded derivative recognised. The convertible notes are subsequently measured at amortised cost using the effective interest rate method. The carrying value of the convertible notes at 31 January 2018 was $1,740,000 (31 January 2017: $13,744,000).

Provisions

6 Months Ended

Jul. 31, 2018

Provisions [abstract]

13	Provisions

	31 July 2018 NZ $000’s		31 January 2018 NZ $000’s
CURRENT
Lease contributions		423		412
Onerous contracts		49		264
Make good		921		430
		1,393		1,106

	31 July 2018 NZ $000’s		31 January 2018 NZ $000’s
NON-CURRENT
Lease contributions		723		910
Make good		1,442		1,801
		2,165		2,711

	Lease contributions NZ $000’s			Onerous contracts NZ $000’s			Make good NZ $000’s			Total NZ $000’s
Opening balance at 1 February 2018		1,322			264			2,231			3,817
Additional provisions recognised		573			-			181			754
Unused amounts reversed		-			-			(68	)		(68	)
Unwinding of discounts		-			-			28			28
Amounts used during the year		(619	)		(215	)		-			(834	)
Exchange differences		(130	)		-			(9	)		(139	)
Balance at 31 July 2018		1,146			49			2,363			3,558

Opening balance at 1 July 2017		997			369			2,066			3,432
Additional provisions recognised		584			-			595			1,179
Unused amounts reversed		-			-			(662	)		(662	)
Unwinding of discounts		-			-			271			271
Amounts used during the year		(293	)		(105	)		(77	)		(475	)
Exchange differences		34			-			38			72
Balance at 31 January 2018		1,322			264			2,231			3,817

Make good

In accordance with certain lease agreements, the Group must refurbish and restore the lease premises to a condition agreed with the landlord at the end of the lease term or as prescribed. The provision has been calculated using a pre-tax discount rate of 2% (31 January 2018: 2%), and other market assumptions and re-assessed annually.

Provisions (Bendon Limited)

6 Months Ended

12 Months Ended

Jul. 31, 2018

Jan. 31, 2018

13	Provisions

	31 July 2018 NZ $000’s		31 January 2018 NZ $000’s
CURRENT
Lease contributions		423		412
Onerous contracts		49		264
Make good		921		430
		1,393		1,106

	31 July 2018 NZ $000’s		31 January 2018 NZ $000’s
NON-CURRENT
Lease contributions		723		910
Make good		1,442		1,801
		2,165		2,711

	Lease contributions NZ $000’s			Onerous contracts NZ $000’s			Make good NZ $000’s			Total NZ $000’s
Opening balance at 1 February 2018		1,322			264			2,231			3,817
Additional provisions recognised		573			-			181			754
Unused amounts reversed		-			-			(68	)		(68	)
Unwinding of discounts		-			-			28			28
Amounts used during the year		(619	)		(215	)		-			(834	)
Exchange differences		(130	)		-			(9	)		(139	)
Balance at 31 July 2018		1,146			49			2,363			3,558

Opening balance at 1 July 2017		997			369			2,066			3,432
Additional provisions recognised		584			-			595			1,179
Unused amounts reversed		-			-			(662	)		(662	)
Unwinding of discounts		-			-			271			271
Amounts used during the year		(293	)		(105	)		(77	)		(475	)
Exchange differences		34			-			38			72
Balance at 31 January 2018		1,322			264			2,231			3,817

Make good

Disclosure of classes of share capital [abstract]

Provisions

31 January

30 June

2018

2017

2016

2015

NZ$000’s

CURRENT

Lease contributions

412

480

342

353

Onerous contracts

264

377

233

Make good

430

671

513

200

1,106

1,528

855

786

	31 January		31 January		30 June		30 June
	2018		2017		2016		2015
	NZ$000’s		NZ$000’s		NZ$000’s		NZ$000’s

NON-CURRENT
Lease contributions		910		702		976		906
Onerous contracts		-		176		275		361
Make good		1,801		1,371		1,304		1,500
		2,711		2,249		2,555		2,767

	Lease			Onerous
	contributions			contracts			Make good			Total
	NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s
Opening balance at 1 February 2017		1,182			553			2,042			3,777
Additional provisions recognised		635			-			595			1,230
Unused amounts reversed		-			-			(658	)		(658	)
Unwinding of discounts		-			-			271			271
Amounts used during the year		(547	)		(289	)		(77	)		(913	)
Exchange differences		52			-			58			110
Balance at 31 January 2018		1,322			264			2,231			3,817

Opening balance at 1 July 2016		1,318			275			1,817			3,410
Additional provisions recognised		145			508			353			1,006
Unused amounts reversed		-			-			(112	)		(112	)
Unwinding of discounts		-			-			(9	)		(9	)
Amounts used during the period		(269	)		(230	)		-			(499	)
Exchange differences		(12	)		-			(7	)		(19	)
Balance at 31 January 2017		1,182			553			2,042			3,777

Onerous contracts

The onerous provision relates to a head office lease for which the space is not fully utilised. The provision is calculated using a pre-tax discount rate of 11.4% (2017: 11.4%, 2016: 11.4%, 2015: 11.4%).

Make good

In accordance with certain lease agreements, the Group must refurbish and restore the lease premises to a condition agreed with the landlord at the end of the lease term or as prescribed. The provision has been calculated using a pre-tax discount rate of 2% (2017: 2%, 2016: 2%, 2015: 4%), and other market assumptions and re-assessed annually.

During the 2018 financial year an additional $595 thousand was recognised in relation to new retail leases in Australia. As a result of the new Auckland office lease, make good requirements were reversed.

Share Capital

6 Months Ended

Jul. 31, 2018

Disclosure of classes of share capital [line items]

14	Share Capital

	31 July 2018 NZ $000’s		31 January 2018 NZ $000’s

20,952,824 (31 January 2018: 306,028) Ordinary shares		116,491		68,727

Ordinary shares
	6 months to 31 July 2018 NZ $000’s		6 months to 31 January 2018 NZ $000’s

At the beginning of the reporting period		68,727		40,667
Issuance of ordinary shares:
- Cash collected		17,165		10,271
- Settle Shareholder loan		12,244		-
- Shares issued in lieu of consultancy fee		692		-
Convertible notes converted		4,159		17,789
Business combination with Naked Brand Group Inc.		14,196		-
At the end of the reporting period		117,183		68,727

The holders of ordinary shares are entitled to participate in dividends and the proceeds on winding up of the Company. On a show of hands at meetings of the Company, each holder of ordinary shares has one vote in person or by proxy, and upon a poll each share is entitled to one vote.

The Company does not have authorised capital or par value in respect of its shares.

	For the Year Ended 31 July 2018 Number		For the 6 Months Ended 31 January 2018 Number

Naked Brand Group Limited shares issued on close of the merger between Bendon Limited and Naked Brand Group Inc.
- Bendon shareholders		18,617,719		305,136
- Naked shareholders		2,068,438		-
Shares issued during the period		266,667		-
At the end of the period		20,952,824		305,136

The number of shares for the 6 months ended 31 January 2018 relates to the pre-merger entity Bendon Limited.

Share Capital (Bendon Limited)

6 Months Ended

12 Months Ended

Jul. 31, 2018

Jan. 31, 2018

14	Share Capital

	31 July 2018 NZ $000’s		31 January 2018 NZ $000’s

20,952,824 (31 January 2018: 306,028) Ordinary shares		116,491		68,727

Ordinary shares
	6 months to 31 July 2018 NZ $000’s		6 months to 31 January 2018 NZ $000’s

At the beginning of the reporting period		68,727		40,667
Issuance of ordinary shares:
- Cash collected		17,165		10,271
- Settle Shareholder loan		12,244		-
- Shares issued in lieu of consultancy fee		692		-
Convertible notes converted		4,159		17,789
Business combination with Naked Brand Group Inc.		14,196		-
At the end of the reporting period		117,183		68,727

The Company does not have authorised capital or par value in respect of its shares.

	For the Year Ended 31 July 2018 Number		For the 6 Months Ended 31 January 2018 Number

Naked Brand Group Limited shares issued on close of the merger between Bendon Limited and Naked Brand Group Inc.
- Bendon shareholders		18,617,719		305,136
- Naked shareholders		2,068,438		-
Shares issued during the period		266,667		-
At the end of the period		20,952,824		305,136

The number of shares for the 6 months ended 31 January 2018 relates to the pre-merger entity Bendon Limited.

Disclosure of classes of share capital [line items]

Share Capital

31 January

30 June

2018

2017

2016

2015

NZ$000’s

306,028 (2017: 274,839, 2016: 250,000, 2015: 250,000) Ordinary shares

68,727

27,948

3,108

(a)

Ordinary shares

For the 7

For the Year

Months

For the Year

Ended 31

Ended 30

January 2018

January 2017

June 2016

June 2015

NZ$000’s

At the beginning of the reporting period

27,948

3,108

Issuance of new shares

22,990

24,840

Convertible note maturity

17,789

At the end of the reporting period

68,727

27,948

3,108

The Company does not have authorised capital or par value in respect of its shares.

For the Year

Ended 31

Ended 30

January 2018

January 2017

June 2016

June 2015

Number

At the beginning of the period

274,839

250,000

Shares issued during the period

31,189

24,839

At the end of the period

306,028

274,839

250,000

(b)

Other equity

31 January

30 June

2018

2017

2016

2015

NZ$000’s

Value of conversion rights - convertible notes

17,789

The amount shown for other equity is the value of the conversion rights relating to the 15% convertible notes, details of which are shown in note 16(d).

(c)

Capital Management

The key objectives of the Company when managing capital is to safeguard its ability to continue as a going concern and maintain optimal benefits to stakeholders. Management also aims to maintain a capital structure that ensures the lowest cost of capital available to the entity. The Company defines capital as its equity and net debt.

There has been no change to capital risk management policies during the year.

Management are constantly adjusting the capital structure to take advantage of favourable costs of capital or high return on assets. As the market is constantly changing, management may change the amount of dividends to be paid to shareholders, return capital to shareholders or sell assets to reduce debt. The Group is not subject to any externally imposed capital requirements.

The gearing ratio is as follows:

		2018			2017			30 June 2016			30 June 2015
	Note	NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s
Total borrowings	16		52,121			68,998			77,593			56,273
Less Cash and cash equivalents	8		(10,739	)		(2,644	)		(4,193	)		(1,246	)
Net debt			41,382			66,354			73,400			55,027
Equity			(5,710	)		(9,044	)		(17,876	)		2,839
Total Captial			35,672			57,310			55,524			57,866
Gearing ratio			116	%		116	%		132	%		95	%

Reserves (Bendon Limited)

12 Months Ended

Jan. 31, 2018

Disclosure of reserves within equity [line items]

Reserves

Reserves

	31 January			31 January			30 June			30 June
	2018			2017			2016			2015
	NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s
Foreign currency translation reserve
Opening balance		(2,154	)		(2,125	)		(2,156	)		(2,063	)
Transfers in		148			(29	)		31			(93	)
Balance at the end of the period		(2,006	)		(2,154	)		(2,125	)		(2,156	)

Foreign currency translation reserve

Exchange differences arising on translation of the foreign controlled entity are recognised in other comprehensive income - foreign currency translation reserve. The cumulative amount is reclassified to profit or loss when the net investment is disposed of.

Business Combination

6 Months Ended

Jul. 31, 2018

Business Combination

Business Combination

15	Business Combination

	On 19th June 2018, Bendon Limited (Bendon) and Naked Brand Group Inc. (Naked) completed a business combination pursuant to the Merger Agreement. The business combination was executed after Bendon Limited reorganised its group and inserted a new entity as its parent entity in which the Bendon shareholders rolled over their shares into the new entity. The new parent entity is called Naked Brand Group Limited. Bendon Limited was considered the accounting acquirer of the consolidated group and the consolidated accounts represents a continuation of the Bendon Limited financial statements.

	Pursuant to the Merger Agreement, (i) Bendon undertook a reorganization (the “Reorganization”) pursuant to which all of the shareholders of Bendon Limited exchanged all of the outstanding ordinary shares of Bendon Limited (the “Bendon Ordinary Shares”) for ordinary shares in Naked Brand Group Limited (“Naked Brand Group Ordinary Shares”), and (ii) immediately thereafter, the parties effectuated a merger of Merger Sub and Naked, with Naked surviving as a wholly owned subsidiary of Naked Brand Group Limited and the Naked stockholders receiving Naked Brand Group Ordinary Shares in exchange for all of the outstanding shares of common stock of Naked (the “Merger” and together with the Reorganization, the “Transactions”).

Details of the purchase consideration, the net assets acquired and goodwill are as follows:

	$’000
Purchase consideration:
Shares issued (2,068,438 shares at $6.86 per share fair value)		14,196
Total purchase consideration		14,196

The assets and liabilities recognised as a result of the acquisition are as follows:

	Fair value $’000
Cash		592
Trade and other receivables		4,186
Inventories		1,810
Intangible assets
- Brand		2,200
- Customer relationships		526
Trade and other payables		(916	)
Net identifiable assets acquired		8,398
Add: goodwill		5,798
Net assets acquired		14,196

There were no acquisitions in the year ended 31 July 2017.

	(a)	Acquisition-related costs

	Acquisition-related costs of $3,739,279 that were not directly attributable to the issue of shares are included in administrative expenses in profit or loss and in operating cash flows in the statement of cash flows. In addition, Naked Brand Group Limited issued 100,886 shares at a price of $6.86 per share to the value of $692,000 to advisors as part of their consultancy in lieu of cash payment.

	(b)	Revenue and profit contribution

	The acquired business contributed revenues of $324,615 and net loss of $539,982 to the group for the period from 19 June 2018 to 31 July 2018. If the acquisition occurred on 1 February 2018, the full half year revenue of the combined group would have been $58,799,189 and loss of $25,436,507.

	(c)	Provisional accounting

	The initial accounting for the business combination is incomplete at the time of the end of the reporting period and as a result the Company will retrospectively adopt the provisional amounts recognised at the acquisition date to reflect new information obtained about facts and circumstance that existed as at the acquisition date. The measurement period ends as soon the Company receives the information it was seeking about facts and circumstances that existed as of the acquisition date or learns that more information is not obtained. The measurement shall not exceed one year from the acquisition date.

Earnings Per Share

6 Months Ended

Jul. 31, 2018

Earnings per share from loss from continuing operations attributable to the ordinary equity holders of Naked Brand Group Limited

Earnings Per Share

16	Earnings per Share

	(a)	Basic and diluted loss per share

	6 months to 31 July 2018 NZ $			6 months to 31 July 2017 NZ $

From continuing operations attributable to the ordinary equity holders of the company		(1.28	)		(0.89	)
Total basic and diluted loss per share attributable to the ordinary equity holders of the company		(1.28	)		(0.89	)

All convertible notes issued during the period are not included in the calculation of diluted loss per share because they are antidilutive in nature for the period ended 31 January 2018. These notes could potentially dilute earnings/loss per share in the future.

(b)

Reconciliation of loss used in calculating earnings per share

	6 months to 31 July 2018 NZ $000’s			6 months to 31 July 2017 NZ $000’s

Basic and diluted loss per share
Profit/(loss) attributable to the ordinary equity holders of the company used in calculating basic earnings per share:		(26,515	)		(18,456	)

(c)

Weighted average number of shares used as the denominator

31 July 2018

Number

31 July 2017

Number*

Weighted average number of ordinary shares used as the denominator in calculating basic and diluted loss per share

20,692,359

20,692,359

* Pursuant to the Merger Agreement between Bendon Limited and Naked Brands Inc and resulting e stock consolidation on 19 June 2018 the calculation of basic and diluted earnings per share for 2017 has been adjusted retrospectively. Number of ordinary shares outstanding has been adjusted to reflect the proportionate change in the number of shares.

Loss Per Share (Bendon Limited)

6 Months Ended

12 Months Ended

Jul. 31, 2018

Jan. 31, 2018

Loss Per Share

16	Earnings per Share

	(a)	Basic and diluted loss per share

	6 months to 31 July 2018 NZ $			6 months to 31 July 2017 NZ $

From continuing operations attributable to the ordinary equity holders of the company		(1.28	)		(0.89	)
Total basic and diluted loss per share attributable to the ordinary equity holders of the company		(1.28	)		(0.89	)

(b)

Reconciliation of loss used in calculating earnings per share

	6 months to 31 July 2018 NZ $000’s			6 months to 31 July 2017 NZ $000’s

Basic and diluted loss per share
Profit/(loss) attributable to the ordinary equity holders of the company used in calculating basic earnings per share:		(26,515	)		(18,456	)

(c)

Weighted average number of shares used as the denominator

31 July 2018

Number

31 July 2017

Number*

Weighted average number of ordinary shares used as the denominator in calculating basic and diluted loss per share

20,692,359

20,692,359

Loss Per Share

Loss per Share

(a)

Basic and diluted loss per share

	For the Year		Months		For the Year		For the Year
	Ended 31		Ended 31		Ended 30		Ended 30
	January 2018		January 2017		June 2016		June 2015
	NZ$		NZ$		NZ$		NZ$
From continuing operations attributable to the ordinary equity holders of the company	(131.38)		(60.54)	)	(82.86	)	(52.79)	)
Total basic and diluted loss per share attributable to the ordinary equity holders of the company	(131.38	)	(60.54	)	(82.86	)	(52.79)	)

(b)

Reconciliation of loss used in calculating loss per share

For the 7

For the Year

Months

For the Year

Ended 31

Ended 30

January 2018

January 2017

June 2016

June 2015

NZ$000’s

Basic and diluted loss per share

Profit/(loss) attributable to the ordinary equity holders of the company used in calculating basic earnings per share:

(37,445

)

(16,008

)

(20,715

)

(13,198

)

(c)

Weighted average number of shares used as the denominator

31 January

30 June

2018

2017

2016

2015

Number

Weighted average number of ordinary shares used as the denominator in calculating basic and diluted loss per share

285,019

264,441

250,000

(d)

Information concerning the classification of securities

Convertible notes

During the year ended 31 January 2018, Bendon Limited issued an aggregate amount of USD $2,600,000 (NZ$3,544,649) 7% convertible notes subject to an Investment Agreement dated on 9 August 2017. The convertible notes are subject to a conversion at a fixed value on the business day immediately prior to the Scrip-for-Scrip Rollover and maturity date of 10th August 2019. Conversion is at the noteholders option. If conversion does not occur, the convertible notes are redeemable at maturity. The issuer can elect to redeem at any time prior to maturity. The notes are convertible into ordinary shares of Bendon Limited, at the option of the holder, or redeemable on 10th August 2019. Due to the conversion being determined by the USD invested amount, the instrument contains a derivative in relation to potential fluctuations between the USD and NZD.

All convertible notes issued during the period are not included in the calculation of diluted loss per share because they are antidilutive in nature for the period ended 31 July 2018. These notes could potentially dilute earnings/loss per share in the future.

Accumulated Losses (Bendon Limited)

12 Months Ended

Jan. 31, 2018

AccumulatedLossesLineItems [Line Items]

Accumulated Losses

Accumulated Losses

				For the 7
	For the Year			Months			For the Year			For the Year
	Ended 31			Ended 31			Ended 30			Ended 30
	January 2018			January 2017			June 2016			June 2015
	NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s
(Accumulated losses)/retained earnings at the beginning of the period		(34,838	)		(18,859	)		1,887			14,992
Loss for the period		(37,593	)		(15,989	)		(20,746	)		(13,105	)
(Accumulated Losses)/Retained Earnings at end of the period		(72,431	)		(34,848	)		(18,859	)		1,887

Capital and Leasing Commitments (Bendon Limited)

12 Months Ended

Jan. 31, 2018

DisclosureOfCapitalAndLeasingCommitmentsLineItems [Line Items]

Capital and Leasing Commitments

Capital and Leasing Commitments

(a)

Finance Leases

	31 January		31 January		30 June		30 June
	2018		2017		2016		2015
	NZ$000’s		NZ$000’s		NZ$000’s		NZ$000’s
Minimum lease payments:
- not later than one year		-		-		-		105
Minimum lease payments		-		-		-		105
Less: finance changes		-		-		-		-
Present value of minimum lease payments		-		-		-		105

(b)

Operating Leases

31 January

30 June

2018

2017

2016

2015

NZ$000’s

Minimum lease payments under non-cancellable operating leases:

- not later than one year

9,618

9,472

9,594

8,952

- between one year and five years

14,943

14,435

16,438

17,089

- later than five years

528

140

312

25,089

23,966

26,172

26,353

Operating leases are in place for leased premises and vehicles, and normally have a term between 1 and 11 years. Lease payments are increased on an annual basis to reflect market rentals.

(c)

Contracted Commitments

	31 January		31 January		30 June		30 June
	2018		2017		2016		2015
	NZ$000’s		NZ$000’s		NZ$000’s		NZ$000’s
Licence contract
- not later than one year		3,797		3,652		3,696		3,147
- between one year and five years		12,009		15,917		16,775		15,808
- later than five years		-		-		2,283		6,652
		15,806		19,569		22,754		25,607

The Group has an exclusive licence to use the trademark and name Heidi Klum in the manufacture, promotion, sale and distribution of product. The contract was executed on 26 September 2014 and commenced on 1 January 2015. The contract has a 7 year term with no rights to renew. Licence royalties are calculated based on net sales, and the minimum guarantee payments payable by the Group are set out above.

Lessor Commitments (Bendon Limited)

12 Months Ended

Jan. 31, 2018

Disclosure of finance lease and operating lease by lessor [line items]

Lessor Commitments

Lessor Commitments

The Group sub leases its US and Australian premises under a commercial lease. These non-cancellable leases have terms between 1 and 6 years. All leases include an option for the Group to increase rent to current market rental on an annual basis.

The future minimum lease payments under non-cancellable leases are:

	31 January		31 January		30 June		30 June
	2018		2017		2016		2015
	NZ$000’s		NZ$000’s		NZ$000’s		NZ$000’s
- no later than 1 year		166		503		620		431
- between 1 year and 5 years		-		1,076		1,217		565
- greater than 5 years		-		-		-		-
Total minimum lease payments		166		1,579		1,837		996

Financial Risk Management (Bendon Limited)

12 Months Ended

Jan. 31, 2018

DisclosureOfFinancialRiskManagementLineItems [Line Items]

Financial Risk Management

24	Financial Risk Management

The Group is exposed to a variety of financial risks through its use of financial instruments.

The Group’s overall risk management plan seeks to minimise potential adverse effects due to the unpredictability of financial markets.

The most significant financial risks to which the Group is exposed to are described below:

Specific risks

●

Liquidity risk

●

Credit risk

●

Market risk - currency risk, interest rate risk and price risk

Financial instruments used

The principal categories of financial instrument used by the Group are:

●

Trade receivables

●

Cash at bank

●

Bank overdraft

●

Trade and other payables

●

Floating rate bank loans

●

Forward currency contracts

●

Shareholders loan

Objectives, policies and processes

The Board of Directors receives overall responsibility for the establishment of the Group’s financial risk management framework. This includes the development of policies covering specific areas such as foreign exchange risk, interest rate risk, credit risk and the use of derivatives.

Risk management policies and systems are reviewed regularly to reflect changes in market conditions and the Group’s activities.

The day-to-day risk management is carried out by the Group’s finance function under policies and objectives which have been approved by the Board of Directors.

Mitigation strategies for specific risks faced are described below:

Liquidity risk

Liquidity risk arises from the Group’s management of working capital and the finance charges and principal repayments on its debt instruments. It is the risk that the Group will encounter difficulty in meeting its financial obligations as they fall due.

The Group’s policy is to ensure that it will always have sufficient cash to allow it to meet its liabilities as and when they fall due.

The Group manages its liquidity needs by carefully monitoring scheduled debt servicing payments for long-term financial liabilities as well as cash-outflows due in day-to-day business.

The timing of cash flows presented in the table to settle financial liabilities reflects the earliest contractual settlement dates and does not reflect management’s expectations that banking facilities will be rolled forward. The amounts disclosed in the table are the undiscounted contracted cash flows and therefore the balances in the table may not equal the balances in the consolidated balance sheets due to the effect of discounting.

The Group’s liabilities have contractual maturities which are summarised below:

	Non-derivatives Borrowings NZ$000’s		Non-derivatives Finance lease obligations NZ$000’s		Non-derivatives Trade payables NZ$000’s		Non-derivatives Bank guarantees NZ$000’s		Non-derivatives Total NZ$000’s		Derivatives Gross future cash settlement on forward currency contracts - inflow NZ$000’s		Derivatives Gross future cash settlement on forward currency contracts - (outflow) NZ$000’s			Derivatives Total NZ$000’s
Not later than 1 month
31 January 2018		26,482		-		21,143		-		47,625		13,577		(13,950	)		(373	)
31 January 2017		56,333		-		19,221		-		75,554		2,078		(2,250	)		(172	)
30 June 2016		63,054		-		18,357		-		81,411		6,636		(7,097	)		(461	)
30 June 2015		22,322		66		25,302		-		47,690		-		-			-

1 to 3 months
31 January 2018		148		-		-		-		148		13,837		(14,453	)		(616	)
31 January 2017		129		-		-		-		129		9,900		(11,326	)		(1,426	)
30 June 2016		127		-		-		-		127		18,755		(20,454	)		(1,699	)
30 June 2015		996		40		-		-		1,036		1,841		(2,029	)		(188	)

3 months to 1 year
31 January 2018		27,247		-		-		-		27,247		20,895		(21,993	)		(1,098	)
31 January 2017		18,631		-		-		-		18,631		37,855		(40,445	)		(2,590	)
30 June 2016		572		-		-		-		572		36,397		(39,766	)		(3,369	)
30 June 2015		17,496		-		-		-		17,496		15,715		(17,133	)		(1,418	)

1 to 5 years
31 January 2018		-		-		-		-		-		-		-			-
31 January 2017		323		-		-		-		323		-		-			-
30 June 2016		16,763		-		-		582		17,345		-		-			-
30 June 2015		16,981		-		-		372		17,353		8,940		(9,623	)		(683	)

	Non-derivatives Borrowings NZ$000’s		Non-derivatives Finance lease obligations NZ$000’s		Non-derivatives Trade payables NZ$000’s		Non-derivatives Bank guarantees NZ$000’s		Non-derivatives Total NZ$000’s		Derivatives Gross future cash settlement on forward currency contracts - inflow NZ$000’s		Derivatives Gross future cash settlement on forward currency contracts - (outflow) NZ$000’s			Derivatives Total NZ$000’s

Total
31 January 2018		53,877		-		21,143		-		75,020		48,309		(50,396	)		(2,087	)
31 January 2017		75,416		-		19,221		-		94,637		49,833		(54,021	)		(4,188	)
30 June 2016		80,516		-		18,357		582		99,455		61,788		(67,317	)		(5,529	)
30 June 2015		57,795		106		25,302		372		83,575		26,496		(28,785	)		(2,289	)

Credit risk

Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in a financial loss to the Group.

Credit risk arises from cash and cash equivalents, derivative financial instruments, as well as credit exposure to wholesale and retail customers, including outstanding receivables and committed transactions.

The Group has adopted a policy of only dealing with creditworthy counterparties as a means of mitigating the risk of financial loss from defaults. The utilisation of credit limits by customers is regularly monitored by line management. Customers who subsequently fail to meet their credit terms are required to make purchases on a prepayment basis until creditworthiness can be re-established.

Trade receivables consist of a large number of customers, spread across diverse industries and geographical areas. Ongoing credit evaluation is performed on the financial condition of accounts receivable.

Management considers that all the financial assets that are not impaired for each of the reporting dates under review are of good credit quality, including those that are past due.

The credit risk for liquid funds and other short-term financial assets is considered negligible, since the counterparties are reputable banks with high quality external credit ratings.

The credit quality of financial assets that are neither past due nor impaired can be assessed by reference to external credit ratings if available or historical information about counterparty default rate.

31 January

30 June

2018

2017

2016

2015

NZ$000’s

Trade receivables

Counterparty without external credit ratings

New customer less than 6 months

187

1,046

Existing customers (more than 6 months with default in past)

9,970

26,312

19,557

Total trade receivables

9,982

26,499

20,603

31 January

30 June

2018

2017

2016

2015

NZ$000’s

Credit ratings

AA-

10,591

2,655

4,122

1,194

A+

(11

)

10,685

2,644

4,146

1,194

The Group has no significant concentration of credit risk with respect to any single counterparty or group of counterparties.

On a geographical basis, the Group has significant credit risk exposures in New Zealand and Australia, United States and United Kingdom given the substantial operations in those regions.

Market risk

Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices.

(i) Foreign exchange risk

Exposure to foreign exchange risk may result in the fair value or future cash flows of a financial instrument fluctuating due to movement in foreign exchange rates of currencies in which financial instruments are held in currencies other than the functional currency.

Exposures to currency exchange rates arise from overseas sales and purchases, which are primarily denominated in currencies other than the functional currency, in particular USD.

Foreign currency denominated financial assets and liabilities, translated into New Zealand Dollars at the closing rate, are as follows:

	AUD		USD		GBP		EUR		HKD		Total
	NZ$000’s		NZ$000’s		NZ$000’s		NZ$000’s		NZ$000’s		NZ$000’s
31 January 2018
Trade receivables		328		199		-		1,376		-		1,903
Trade payables		781		11,209		74		29		53		12,146
Cash and cash equivalents		1,660		7,190		77		92		165		9,184
31 January 2017
Trade receivables		424		211		-		1,509		-		2,144
Trade payables		315		8,557		131		32		16		9,051
Cash and cash equivalents		926		401		131		388		28		1,874
30 June 2016
Trade receivables		531		30		-		1,828		-		2,389
Trade payables		203		12,438		117		8		35		12,801
Cash and cash equivalents		965		163		110		149		9		1,396
30 June 2015
Trade receivables		5		167		-		1,405		-		1,577
Trade payables		334		14,942		50		6		351		15,683
Cash and cash equivalents		422		194		135		103		60		914

The following table illustrates the sensitivity of the net result for the year and equity in regards to the Group’s financial assets and financial liabilities and the US dollar - New Zealand Dollar, Australian Dollar - New Zealand Dollar, GB Pound - New Zealand Dollar, Euro - New Zealand Dollar, and Hong Kong Dollar - New Zealand Dollar exchange rates. There have been no changes in the assumptions calculating this sensitivity from prior years.

It assumes a 10% change of the New Zealand Dollar / Australian Dollar exchange rate for the year ended 31 January 2018 (31 January 2017: 10%, 30 June 2016: 10%, 30 June 2015: 10%). A 10% change is considered for the New Zealand Dollar / US Dollar exchange rate (31 January 2017: 10%, 30 June 2016: 10%, 30 June 2015: 10%). A 10% change is considered for the New Zealand Dollar / GB Pound exchange rate (31 January 2017: 10%, 30 June 2016: 10%, 30 June 2015: 10%). A 10% change is considered for the New Zealand Dollar / Euro exchange rate (31 January 2017: 10%, 30 June 2016: 10%, 30 June 2015: 10%). All of these percentages have been determined based on the average market volatility in exchange rates in the previous 12 months.

The year end rate is 0.9073 AUD, 0.7335 USD, 0.5183 GBP, 0.5913 EUR and 5.7368 HKD.

The sensitivity analysis is based on the foreign currency financial instruments held at the reporting date and also takes into account forward exchange contracts that offset effects from changes in currency exchange rates.

If the New Zealand Dollar had strengthened and weakened against the Australian Dollar, US Dollar, GB Pound, Euro and HK Dollar by 10%(31 January 2017: 10%, 30 June 2016: 10%, 30 June 2015: 10%) and 10% (31 January 2017: 10%, 30 June 2016: 10%, 30 June 2015: 10%) respectively then this would have had the following impact:

	NZ$000’s
	+10%			-10%
USD
Net results/Equity (31 January 2018)		(1,509	)		1,509
Net results/Equity (31 January 2017)		(1,196	)		1,196
Net results/Equity (30 June 2016)		(1,267	)		1,267
Net results/Equity (30 June 2015)		(797	)		797

AUD
Net results/Equity (31 January 2018)		(805	)		805
Net results/Equity (31 January 2017)		86			(86	)
Net results/Equity (30 June 2016)		75			(75	)
Net results/Equity (30 June 2015)		7			(7	)

GBP
Net results/Equity (31 January 2018)		(175	)		175
Net results/Equity (31 January 2017)		34			(34	)
Net results/Equity (30 June 2016)		(16	)		16
Net results/Equity (30 June 2015)		(3	)		3

EUR
Net results/Equity (31 January 2018)		(136	)		136
Net results/Equity (31 January 2017)		186			(186	)
Net results/Equity (30 June 2016)		142			(142	)
Net results/Equity (30 June 2015)		108			(108	)

HKD
Net results/Equity (31 January 2018)		(14	)		14
Net results/Equity (31 January 2017)		1			(1	)
Net results/Equity (30 June 2016)		(2	)		2
Net results/Equity (30 June 2015)		(21	)		21

Exposures to foreign exchange rates vary during the year depending on the volume of overseas transactions. Nonetheless, the analysis above is considered to be representative of the Group’s exposure to foreign currency risk.

Forward exchange contracts

The Group has open forward exchange contracts at the end of the reporting period relating to highly probable forecast transactions and recognised financial assets and financial liabilities. These contracts commit the Group to buy specified amounts of foreign currencies in the future at specified exchange rates. The Group has a policy of requiring that forward exchange contracts be entered into where future commitments are entered into requiring settlement at a time in excess of 1 month but less than 1 year, to a value of approximately 75% total foreign exchange exposure. Contracts are taken out with terms that reflect the underlying settlement terms of the commitment to the maximum extent possible so that hedge ineffectiveness is minimised.

The following table summarises the notional amount of the Group’s commitments in relation to forward exchange contracts.

	Notional Amounts								Average Exchange Rate
	31 January 2018 NZ$000’s		31 January 2017 NZ$000’s		30 June 2016 NZ$000’s		30 June 2015 NZ$000’s		31 January 2018 $		31 January 2017 $		30 June 2016 $		30 June 2015 $
Buy USD / sell NZD
Settlement
Less than 6 months		48,149		47,292		38,697		24,932		0.7061		0.6687		0.6473		0.7320
6 months to 1 year		-		3,479		22,378		3,854		-		0.7186		0.6424		0.7136

Buy AUD / sell NZD
Settlement

		NZ$000’s		NZ$000’s		NZ$000’s		NZ$000’s		$		$		$		$
Less than 6 months		2,247		2,250		5,242		-		0.8900		0.8890		0.9066

Buy GBP / sell NZD
Settlement

		NZ$000’s		NZ$000’s		NZ$000’s		NZ$000’s		$		$		$		$
Less than 6 months		-		1,000		1,000		-		-		0.5784		0.4181

(ii) Interest rate risk

The Group is exposed to interest rate risk as funds are borrowed at floating and fixed rates. Borrowings issued at fixed rates expose the Group to fair value interest rate risk.

The Group’s policy is to minimise interest rate cash flow risk exposures on long-term financing. Longer-term borrowings are therefore usually at fixed rates. At the reporting date, the Group is exposed to changes in market interest rates through its bank borrowings, which are subject to variable interest rates.

	31 January		31 January		30 June		30 June
	2018		2017		2016		2015
	NZ$000’s		NZ$000’s		NZ$000’s		NZ$000’s
Floating rate instruments
Bank overdraft		-		-		-		14,481
Working capital financing bank facility		22,489		31,710		32,877		3,387
Convertible notes		1,740		16,474		-		-
Borrowings		16,000		16,000		16,000		17,841
		40,229		64,184		48,877		35,709

The following table illustrates the sensitivity of the net result for the year and equity to a reasonably possible change in interest rates of +1.00%/-1.00% (2017: +1.00%/-1.00%), with effect from the beginning of the year. These changes are considered to be reasonably possible based on observation of current market conditions and economist reports.

The calculations are based on the financial instruments held at each reporting date. All other variables are held constant.

	NZ$000’s
	1.00%		-1.00%
	NZ$000’s		NZ$000’s
Net results/Equity (31 January 2018)		420		(420	)
Net results/Equity (31 January 2017)		642		(642	)
Net results/Equity (30 June 2016)		352		(352	)
Net results/Equity (30 June 2015)		283		(283	)

Tax Assets and Liabilities (Bendon Limited)

12 Months Ended

Jan. 31, 2018

Disclosure of temporary difference, unused tax losses and unused tax credits [line items]

Tax Assets and Liabilities

Tax assets and liabilities

	Opening Balance NZ$000’s			Charged to Income NZ$000’s			Charged directly to Equity NZ$000’s	Changes in Tax Rate NZ$000’s		Exchange Differences NZ$000’s		Closing Balance NZ$000’s
Deferred tax assets/(liabilities)
Property, plant and equipment		1,251			417				-		-		1,668
Doubtful debts		85			(5	)			-		-		80
Provision for annual leave		273			23				-		-		296
Provision for long service leave		66			13				-		-		79
Other payroll provisions		142			(18	)			-		-		124
General provisions		1,857			(1,524	)			-		-		333
Inventories		125			90				-		-		215
Carried forward tax losses		194			3,300				-		-		3,494
Intangible assets		(403	)		(297	)			-		-		(700	)
Balance at 30 June 2015		3,590			1,999				-		-		5,589

Property, plant and equipment		1,668			(1,668	)			-		-		-
Doubtful debts		80			(80	)			-		-		-
Provision for annual leave		296			(296	)			-		-		-
Provision for long service leave		79			(79	)			-		-		-
Other payroll provisions		124			(124	)			-		-		-
General provisions		333			(333	)			-		-		-
Inventories		215			(215	)			-		-		-
Carried forward tax losses		3,494			(2,864	)			-		-		630
Intangible assets		(700	)		70				-		-		(630	)
Balance at 30 June 2016		5,589			(5,589	)			-		-		-

Carried forward tax losses		630			-								630
Intangible assets		(630	)		-								(630	)
Balance at 31 January 2017		-			-				-		-		-

Carried forward tax losses		630			-								630
Intangible assets		(630	)		-								(630	)
Balance at 31 January 2018		-			-				-		-		-

Dividends (Bendon Limited)

12 Months Ended

Jan. 31, 2018

DisclosureOfDividendsLineItems [Line Items]

Dividends

Dividends

No final dividend will be paid in respect of the period ended 31 January 2018 (31 January 2017: Nil, 30 June 2016: Nil, 30 June 2015: Nil).

Franking account

31 January

30 June

2018

2017

2016

2015

NZ$000’s

Australian franking credits available for subsequent financial years at a tax rate of 30%

3,995

3,757

3,808

4,113

New Zealand imputation credits available for subsequent financial years at a tax rate of 28%

236

235

The above amounts are based on the dividend franking account at period-end adjusted for:

	(a)	Franking credits that will arise from the payment of the current tax liabilities;
	(b)	Franking debits that will arise from the payment of dividends recognised as a liability at the period end;
	(c)	Franking credits that will arise from the receipt of dividends recognised as receivables at the end of the period.

Key Management Personnel Remuneration (Bendon Limited)

12 Months Ended

Jan. 31, 2018

KeyManagementPersonnelRemunerationLineItems [Line Items]

Key Management Personnel Remuneration

Key Management Personnel Remuneration

Key management personnel remuneration included within employee expenses for the period is shown below:

For the Year

For the 7

Ended

Months Ended

For the Year

31 January

Ended 30 June

2018

2017

2016

2015

NZ$

Short-term employee benefits

1,742,530

1,492,015

1,751,710

2,039,156

1,742,530

1,492,015

1,751,710

2,039,156

Interests in Subsidiaries (Bendon Limited)

12 Months Ended

Jan. 31, 2018

Interests in Subsidiaries

Interests in Subsidiaries

Composition of the Group

		Percentage		Percentage		Percentage		Percentage
	Principal place of	Owned (%)*		Owned (%)*		Owned (%)*		Owned (%)*
	business / Country of	31 January		31 January		30 June		30 June
	Incorporation	2018		2017		2016		2015

Subsidiaries:
Bendon Retail Limited	New Zealand		100		100		100		100
Bendon Holdings Limited	New Zealand		100		100		100		100
Bendon Holdings Pty Limited	Australia		100		100		100		100
Bendon Pty Limited	Australia		100		100		100		100
Bendon Intimates Pty Limited	Australia		100		100		100		100
PS Holdings No. 1 Pty Limited	Australia		100		100		100		100
Pleasure State Pty Limited	Australia		100		100		100		100
Pleasure State (HK) Limited	Hong Kong		100		100		100		100
Bendon UK Limited	United Kingdom		100		100		100		100
Bendon USA Inc	United States of America		100		100		100		100

*The percentage of ownership interest held is equivalent to the percentage voting rights for all subsidiaries.

Fair Value Measurement

6 Months Ended

Jul. 31, 2018

Fair Value Measurement

Fair Value Measurement

17	Fair Value Measurement

	The Group measures the following assets and liabilities at fair value on a recurring basis:

	●	Financial assets - derivative financial instruments
	●	Financial liabilities - derivative financial instruments

	Fair value hierarchy

	All assets and liabilities measured at fair value to be assigned to a level in the fair value hierarchy as follows:

	Level 1	Unadjusted quoted prices in active markets for identical assets or liabilities that the entity can access at the measurement date.
	Level 2	Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly.
	Level 3	Unobservable inputs for the asset or liability.

The table below shows the assigned level for each asset and liability held at fair value by the Group:

	Level 1 NZ$000’s		Level 2 NZ$000’s		Level 3 NZ$000’s		Total
31 July 2018
Recurring fair value measurements

Financial assets
Foreign exchange contracts		-		220		-		220

Financial liabilities
Foreign exchange contracts		-		-		-		-
Derivative on Convertible Notes		-		-		-		-

31 January 2018
Recurring fair value measurements

Financial assets
Foreign exchange contracts		-		-		-		-

Financial liabilities
Foreign exchange contracts		-		2,087		-		2,087
Derivative on Convertible Notes		-		-		1,110		1,110

	There were no transfers between levels during the financial periods.

	The carrying amount of trade and other receivables and trade and other payables are assumed to approximate their fair values due to their short-term nature. Bank loans approximate fair value of the carrying amount on the basis of the variable nature of the interest rates associated with the loans.

	Valuation techniques for fair value measurements categorised within level 2

	The fair value of derivative financial instruments is determined using valuation techniques which maximise the use of observable market data where it is available and relies as little as possible on entity specific estimates.

	Valuation techniques for fair value measurements categorised within level 3

	The fair value of the derivative on convertible notes was determined using a Black-Scholes model. Measurement inputs include share price on measurement date, expected term of the instrument, risk free rate, expected volatility and expected dividend rate. The Company used valuations specialists to perform these valuations.

	Fair value measurements using significant unobservable movements (level 3)

	The following table presents the changes in level 3 instruments for the year ended 31 July 2018.

	Convertible note liability NZ$000’s
Balance at 31 January 2018		1,110
Changes in fair value		-
Conversion		(1,110	)
Balance at 31 July 2018		-

Fair Value Measurement (Bendon Limited)

6 Months Ended

12 Months Ended

Jul. 31, 2018

Jan. 31, 2018

DisclosureOfFairValueMeasurementLineItems [Line Items]

Fair Value Measurement

17	Fair Value Measurement

	The Group measures the following assets and liabilities at fair value on a recurring basis:

	●	Financial assets - derivative financial instruments
	●	Financial liabilities - derivative financial instruments

	Fair value hierarchy

	All assets and liabilities measured at fair value to be assigned to a level in the fair value hierarchy as follows:

	Level 1	Unadjusted quoted prices in active markets for identical assets or liabilities that the entity can access at the measurement date.
	Level 2	Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly.
	Level 3	Unobservable inputs for the asset or liability.

The table below shows the assigned level for each asset and liability held at fair value by the Group:

	Level 1 NZ$000’s		Level 2 NZ$000’s		Level 3 NZ$000’s		Total
31 July 2018
Recurring fair value measurements

Financial assets
Foreign exchange contracts		-		220		-		220

Financial liabilities
Foreign exchange contracts		-		-		-		-
Derivative on Convertible Notes		-		-		-		-

31 January 2018
Recurring fair value measurements

Financial assets
Foreign exchange contracts		-		-		-		-

Financial liabilities
Foreign exchange contracts		-		2,087		-		2,087
Derivative on Convertible Notes		-		-		1,110		1,110

	There were no transfers between levels during the financial periods.

	The carrying amount of trade and other receivables and trade and other payables are assumed to approximate their fair values due to their short-term nature. Bank loans approximate fair value of the carrying amount on the basis of the variable nature of the interest rates associated with the loans.

	Valuation techniques for fair value measurements categorised within level 2

	The fair value of derivative financial instruments is determined using valuation techniques which maximise the use of observable market data where it is available and relies as little as possible on entity specific estimates.

	Valuation techniques for fair value measurements categorised within level 3

	The fair value of the derivative on convertible notes was determined using a Black-Scholes model. Measurement inputs include share price on measurement date, expected term of the instrument, risk free rate, expected volatility and expected dividend rate. The Company used valuations specialists to perform these valuations.

	Fair value measurements using significant unobservable movements (level 3)

	The following table presents the changes in level 3 instruments for the year ended 31 July 2018.

	Convertible note liability NZ$000’s
Balance at 31 January 2018		1,110
Changes in fair value		-
Conversion		(1,110	)
Balance at 31 July 2018		-

DisclosureOfFairValueMeasurementLineItems [Line Items]

Fair Value Measurement

Fair Value Measurement

The Group measures the following assets and liabilities at fair value on a recurring basis:

	●	Financial assets - derivative financial instruments
	●	Financial liabilities - derivative financial instruments

Fair value hierarchy

All assets and liabilities measured at fair value to be assigned to a level in the fair value hierarchy as follows:

	Level 1	Unadjusted quoted prices in active markets for identical assets or liabilities that the entity can access at the measurement date.
	Level 2	Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly.
	Level 3	Unobservable inputs for the asset or liability.

The table below shows the assigned level for each asset and liability held at fair value by the Group:

	Level 1		Level 2		Level 3		Total
	NZ$000’s		NZ$000’s		NZ$000’s		NZ$000’s
31 January 2018
Recurring fair value measurements
Financial assets
Foreign exchange contracts		-		-		-		-
Financial liabilities
Foreign exchange contracts		-		2,087		-		2,087
Derivative on Convertible Notes		-		-		1,110		1,110

31 January 2017
Recurring fair value measurements
Financial assets
Foreign exchange contracts		-		-		-		-
Financial liabilities
Foreign exchange contracts		-		4,188		-		4,188
Derivative on Convertible Notes		-		-		4,112		4,112

30 June 2016
Recurring fair value measurements
Financial assets
Foreign exchange contracts		-		-		-		-
Financial liabilities
Foreign exchange contracts		-		5,531		-		5,531

30 June 2015
Recurring fair value measurements
Financial assets
Foreign exchange contracts		-		2,289		-		2,289
Financial liabilities
Foreign exchange contracts		-		1		-		1

There were no transfers between levels during the financial periods.

The carrying amount of trade and other receivables and trade and other payables are assumed to approximate their fair values due to their short-term nature. Bank loans approximate fair value of the carrying amount on the basis of the variable nature of the interest rates associated with the loans.

Valuation techniques for fair value measurements categorised within level 2

The fair value of derivative financial instruments is determined using valuation techniques which maximise the use of observable market data where it is available and relies as little as possible on entity specific estimates.

Valuation techniques for fair value measurements categorised within level 3

The fair value of the derivative on convertible notes has been determined using a Black-Scholes model. Measurement inputs include share price on measurement date, expected term of the instrument, risk free rate, expected volatility and expected dividend rate. The Company used valuations specialists to perform these valuations.

Fair value measurements using significant unobservable movements (level 3)

The following table presents the changes in level 3 instruments for the year ended 31 January 2018.

	Convertible
	note liability
	NZ$000’s
Balance at 31 January 2017		4,112
Changes in fair value		1,110
Conversion		(4,112	)
Balance at 31 January 2018		1,110

Valuation inputs and relationships to fair value (level 3)

The following table summarises the quantitative information about the significant inputs used in level 3 fair value measurements:

	Range of inputs for
Unobservable inputs	convertible note liability
Face value (NZD)		3,624,198
Interest rate of note		10	%
Risk free rate		1.66	%
Term of the instrument		August 2019
Expected volatility		128.7	%
Dividend yield		0	%

Contingencies (Bendon Limited)

12 Months Ended

Jan. 31, 2018

Disclosure of contingent liabilities [line items]

Contingencies

Contingencies

Contingent Liabilities

The Group had the following contingent liabilities at the end of the reporting period:

	31 January 2018		31 January 2017		30 June 2016		30 June 2015
	NZ$000’s		NZ$000’s		NZ$000’s		NZ$000’s

Rent guarantees to certain landlords		419		571		534		313
Standby letter of credit to JP Morgan Chase Bank		291		286		279		-
Guarantee provided to UK Customs Department		329		282		303		372
Guarantee provided to ANZ for Merchant Service		172		-		-		-

Related Parties

6 Months Ended

Jul. 31, 2018

Disclosure of transactions between related parties [abstract]

Related Parties

18	Related Parties

(a)

The Group’s main related parties are as follows:

Cullen Group is incorporated in New Zealand and owns 6.9% of Naked Brand Group Limited (31 January 2018: 71.8% of Bendon Limited).

Key management personnel

Other related parties include close family members of key management personnel and entities that are controlled or significantly influenced by those key management personnel or their close family members.

(b)

Loans to/from related parties

	Opening balance NZ$			Closing balance NZ$			Interest not charged NZ$		Interest paid/payable NZ$		Impairment NZ$

Loans to related parties
Cullen Investments Limited - 31 July 2018		11,535,677			12,791,201
Cullen Investments Limited - 31 January 2018		13,051,321			11,535,677			-		-		-
Whitespace Atelier Limited - 31 July 2018		272,665			722,385
Whitespace Atelier Limited - 31 January 2018		-			272,665			-		-		-
FOH Online Inc. - 31 July 2018		3,518,009			2,488,487
FOH Online Inc. - 31 January 2018		-			3,518,009			-		-		-

Loans from related parties
Naked Inc. - 31 July 2018		(1,368,577	)		-
Naked Inc. - 31 January 2018		-			(1,368,577	)		-		-		-

During the period presented transactions with Cullen Investments Limited include Cullen Investments Limited costs paid by the Group of $1,255,524 (31 January 2018: a recovery of $1,515,644), which does not relate to Bendon Ltd’s trading such as director costs and employee time.

Whitespace Atelier Limited (“Whitespace”) is owned by a KMP at Bendon Limited. Beginning 1 Feb 2017, Whitespace was engaged by the Group to procure stock from various suppliers at competitive prices. During the year ended 31 July 2018, purchases amounting to $6,687,559 (6 months to 31 January 2018: $11,283,526) have been made from Whitespace. As at 31 July 2018, the Group has made prepayments to Whitespace amounting to $722,385 (31 January 2018: 272,665).

Subsequent to the merger with Naked Brand Group Inc. on 19th June 2018, Naked Brand Group Inc. became part of the Group as at 31 July 2018. The balances between the subsidiaries are eliminated in the Group Balance Sheet (31 January 2018: $1,368,557).

FOH Online Corp is owned by Cullen Invenstment Limited who owns 6.9% shares of Naked Brand Group Limited. Under the current licence agreement between FOH Online Corp and Bendon Limited, the consolidated statement of comprehensive income for the half year ended 31 July 2018 includes revenue and net loss before tax of $11,233,239 (6 months to 31 July 2017: nil) and $952,729 (6 months to 31 July 2017: nil) respectively . As at 31 July 2018, the Group has a receivable balance with FOH Online Corp. of $2,488,487 (31 January 2018: $3,518,009).

Related Parties (Bendon Limited)

6 Months Ended

12 Months Ended

Jul. 31, 2018

Jan. 31, 2018

Disclosure of transactions between related parties [line items]

Related Parties

18	Related Parties

(a)

The Group’s main related parties are as follows:

Cullen Group is incorporated in New Zealand and owns 6.9% of Naked Brand Group Limited (31 January 2018: 71.8% of Bendon Limited).

Key management personnel

(b)

Loans to/from related parties

	Opening balance NZ$			Closing balance NZ$			Interest not charged NZ$		Interest paid/payable NZ$		Impairment NZ$

Loans to related parties
Cullen Investments Limited - 31 July 2018		11,535,677			12,791,201
Cullen Investments Limited - 31 January 2018		13,051,321			11,535,677			-		-		-
Whitespace Atelier Limited - 31 July 2018		272,665			722,385
Whitespace Atelier Limited - 31 January 2018		-			272,665			-		-		-
FOH Online Inc. - 31 July 2018		3,518,009			2,488,487
FOH Online Inc. - 31 January 2018		-			3,518,009			-		-		-

Loans from related parties
Naked Inc. - 31 July 2018		(1,368,577	)		-
Naked Inc. - 31 January 2018		-			(1,368,577	)		-		-		-

Disclosure of transactions between related parties [line items]

Related Parties

Related Parties

(a)

The Group’s main related parties are as follows:

The ultimate parent entity, which exercises control over the Group, is Cullen Group which is incorporated in New Zealand and owns 71.8% of Bendon Limited.

Key management personnel - refer to Note 27.

(b)

Loans (to)/from related parties

	Opening			Closing			Interest not		Interest
	balance			balance			charged		paid/payable		Impairment
	NZ$			NZ$			NZ$		NZ$		NZ$

Loans from related parties
Cullen Investments Limited - 31 January 2018		13,051,321			11,535,677			-		-		-
Cullen Investments Limited - 31 January 2017		9,613,014			13,051,321			-		-		-
Cullen Investments Limited - 30 June 2016		4,010,083			9,613,014			-		-		-
Cullen Investments Limited - 30 June 2015		3,381,579			4,010,083			-		-		-
Whitespace Atelier Limited - 31 January 2018		-			272,665			-		-		-
Whitespace Atelier Limited - 31 January 2017		-			-			-		-		-

Loans to related parties
Naked Inc. - 31 January 2018		-			(1,368,577	)		-		-		-
Naked Inc. - 31 January 2017		-			-			-		-		-
PS Holdings No. 2 Pty Limited - 30 June 2015		(21,078	)		-			-		-		-
FOH Online Inc. – 31 January 2018			-		3,518,009

During the period presented transactions with Cullen Investments Limited include a recovery for Cullen Investments Limited costs paid for by Bendon Group of $1,515,644 (2017: $3,438,307, 2016: $2,056,676, 2015: $628,604), which does not relate to Bendon Ltd’s trading such as director costs and employee time. Cullen require assistance with investment appraisal activities and Bendon provides these services to Cullen. There is no foreign currency option contract in current period (2017: $1,012,871, 2016: 3,546,255, 2015: Nil). During the period the Cullen Group provided services to Bendon and Bendon provided services in New Zealand and Australia of the Cullen Group. Cullen Group has also assisted the Company with various cashflow requirements over the year. The loans to Bendon are separately set out in note 16 and is classified as a subordinated loan. The rest of the trading between Bendon and Cullen Group is included in the receivable loan account. This amount is expected to be settled in the next 12 months.

Whitespace Atelier Limited (“Whitespace”) is owned by a KMP at Bendon Limited. Beginning 1 Feb 2017, Whitespace is engaged by the Group to procure stock from various suppliers at competitive prices. During the year ended 31 January 2018, purchases amounting to $13,281,727 have been made from Whitespace. As at 31 January 2018, the Group has made prepayments to Whitespace amounting to $272,665 (31 January 2017 : Nil).

As at 31 January 2018, the Group has a payable balance with Naked Brand Inc. of $1,368,577 (2017: nil). On October 4, 2017, the Group entered into a consignment agreement with Naked Brand Group Inc. for the purpose of facilitating a sale of the consigned goods by the Group. As at 31 January 2018, the amount owing to Naked Brand Group Inc. is $608,480 in relation to this agreement. Also within the related party payable balance, it also includes payable of $430,420 for expenses incurred by Naked on behalf of the Group, and payable of $329,677 for fourth quarter operating loss reimbursement payable per the Second Amendment to the Merger Agreement.

On 31 December 2017, Cullen Investments Limited acquired FOH Online Corp. with 100% voting shares. Under the current licence agreement between FOH Online Corp and Bendon Limitd, the consolidated statement of comprehensive income for the year ended 31 January 2018 includes revenue and net loss before tax of $1,078,077 and $617,814 respectively (31 January 2017: nil) . As at 31 January 2018, the Group has a receivable balance with FOH Online Corp. of $3,518,009 (31 January 2017: nil).

As at 31 January 2018, the Group has subordinated loans with EJ Group Limited which is a company owned by Eric Watson, who is also an ultimate shareholder of Bendon. The subordinated loans are also disclosed in note 16.

Cash Flow Information (Bendon Limited)

12 Months Ended

Jan. 31, 2018

CashFlowInformationLineItems [Line Items]

Cash Flow Information

Cash Flow Information

Reconciliation of result for the year to cashflows from operating activities

Reconciliation of net income to net cash provided by operating activities:

				For the 7
	For the Year			Months			For the Year			For the Year
	Ended 31			Ended 31			Ended 30			Ended 30
	January 2018			January 2017			June 2016			June 2015
	NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s
Loss for the period		(37,593	)		(15,979	)		(20,746	)		(13,105	)
Cash flows excluded from profit attributable to operating activities interest paid on borrowings		8,792			6,238			10,182			4,402
Non-cash flows in profit:
- depreciation and amortisation expense		3,030			1,842			3,516			5,718
- impairment expense		1,914			292			2,157			-
- fair value gain/(loss) on Convertible Notes derivative		(2,393	)		592			-			-
Changes in assets and liabilities:
- (increase) in trade and other receivables		14,925			(4,748	)		(6,518	)		(1,046	)
- (increase) in current tax receivable		52			35			(88	)		-
- (increase)/decrease in derivative assets		-			-			2,289			(2,225	)
- (increase)/decrease in inventories		6,638			(179	)		8,088			(15,646	)
- (increase)/decrease in deferred tax asset/(liability)		-			-			5,589			(2,160	)
- (increase) in related party receivables		(906	)		(3,438	)		(5,603	)		(650	)
- increase/(decrease) in trade and other payables		6,956			2,078			(11,113	)		12,817
- increase/(decrease) in income taxes payable		152			635			(483	)		36
- increase/(decrease) in provisions		39			367			311			(2,507	)
- increase/(decrease) in foreign currency derivative liability		(5,104	)		(1,343	)		5,530			(1,982	)
- net exchange differences		(618	)		90			1,849			(851	)
Cashflows from operations		(4,116	)		(13,518	)		(5,040	)		(17,199	)

Events Occurring After the Reporting Date

6 Months Ended

Jul. 31, 2018

Disclosure of non-adjusting events after reporting period [abstract]

Events Occurring After the Reporting Date

19	Events occurring after the reporting date

Subsequent to the end of the financial period, the Company issued 3,116,645 shares at an average price of $2.24 per share to the value of US$6.98 million. These proceeds were used as working capital in the business.

As at the date of this report, Company is in negotiations with its Bankers to reset the loan covenants and extend the Loan to beyond the expiry of it’s current terms of 30 June 2019.

On 15th August 2018, the Company filed a F1 Registration statement relating to the resale of up to 12,752,951 ordinary shares, no par value, of Naked Brand Group Limited and up to 1,293,892 Ordinary Shares issuable upon exercise of outstanding warrants. The securities were issued in connection with one or more private placements and placements that occurred outside the United States and the Company will not receive any proceeds from the sale of the securities under this prospectus. However, the Company could receive up to USD$4,852,095 in gross proceeds if all of the warrants held by three of the Selling Shareholders are exercised for cash. We are still evaluating the accounting and financial reporting treatment of this transaction.

On November 15, 2018, we and our wholly-owned subsidiary, Bendon, entered into a Stock Purchase Agreement with the shareholders of FOH Online Corp. (“FOH”), including Cullen Investments Limited (“Cullen”), a significant shareholder of the Company. Pursuant to the agreement, on December 6, 2018, we purchased all of the issued and outstanding shares of FOH, in order to gain direct ownership of the Frederick’s of Hollywood license arrangement FOH had with Authentic Brands Group (“ABG”). The Naked Group previously marketed merchandise under the Frederick’s of Hollywood brand through a sub-license arrangement with FOH. As a result of the acquisition of FOH, the Naked Brands Group now has a direct relationship with ABG in relation to the Frederick’s of Hollywood license. Under the terms of the agreement, we paid a purchase price of approximately US$18.2 million, as follows (i) Bendon forgave debt owed to it by FOH and Cullen, in the aggregate amount of approximately US$9.9 million, and (ii) we issued 3,765,087 of our Ordinary Shares to FOH’s shareholders, valued at a price per share of US$2.20. We also agreed to satisfy certain obligations with respect to certain claims involving the parties. A portion of the Ordinary Shares issued to FOH’s shareholders are held in trust and may be released to Cullen to the extent not applied in satisfaction of such claims. We are still evaluating the accounting and financial reporting treatment of this transaction.

Events Occurring After the Reporting Date (Bendon Limited)

6 Months Ended

12 Months Ended

Jul. 31, 2018

Jan. 31, 2018

Disclosure of non-adjusting events after reporting period [line items]

Events Occurring After the Reporting Date

19	Events occurring after the reporting date

As at the date of this report, Company is in negotiations with its Bankers to reset the loan covenants and extend the Loan to beyond the expiry of it’s current terms of 30 June 2019.

Disclosure of non-adjusting events after reporting period [line items]

Events Occurring After the Reporting Date

33	Events occurring after the reporting date

●

Subsequent to the end of the financial year the Company entered into a Deed of Amendment with their banker BNZ to reduce the facility as at 31 January 2018 of NZD$36.4 million to NZD$20 million. In addition the new facility takes over guarantees and financial instruments totaling NZD$1,345,000.

The new facility has been provided for 12 months to 14 June 2019 and is subject to four undertakings being: Interest cover ratio of three times that is first tested as at 30 April 2019; gross EBITDA ratio measured to 3 months to September 2018 of $0, six months to 30 December 2018 is greater than $3 million; inventory and receivables ratio must be greater than 2 times being first measured as at 30 September 2018; and the actual sales and gross margin must not vary by more than 10% from the budget submitted to the Bank.

●

Subsequent to the end of the financial period and up to 13 June 2018 the Company issued new ordinary shares to the value of $USD$23.5 million. The share capital has been used to reduce the outstanding Bank facilities as at 31 January 2018 to the new Bank facility limit of NZD$20 million described above.

●

Subsequent to the end of the financial year on 28 June 2018 the Company entered into a Loan facility Agreement with an associate of a major shareholder that provides the Company with a standby facility that makes available to the Company a loan facility to fund creditor calls, working capital, and or servicing of repayment of debt facilities. The facility is split between Facility A which is a NZD$10 million amount available for the purpose or creditor calls and working capital; and Facility B which is a NZD$10 million amount for the purpose of repayment of the Company’s debt with BNZ in the event the Company’s Bank gives notice to reduce or repay the facility. Each facility is subject to a facility fee of NZD$500,000 upon first draw down from each facility.

The facility expires on the second anniversary of the date of the agreement. Interest is payable under the facility on amounts drawn at a rate of 7.5%.

In the event the Company having outstanding indebeteness under the agreement, the borrower grants to the lender an option to convert all or part of the indebebteness into shares of the Company, where the number of shares are determined by the greater of a calcucation using the closing share price and the 30 day VWAP.

●

The Company and Naked Brands Inc completed a merger on 19 June 2018 that was approved by the Naked shareholders on 11 June 2018. The combined group will be known as Naked Brands Group Limited an Australian domiciled entity listed on the Nasdaq.

●

Subsequent to the end of the financial period, the shareholder loan converted to equity on closing of the merger with Naked Brands Inc.

Basis of Preparation of Half - Year Report (Policies)

6 Months Ended

Jul. 31, 2018

Basis Of Preparation Of Half - Year Report

Going Concern

(a)

Going concern

●

Raising further capital of at least NZ$36 million and collecting it between March 2019 and July 2019;

●

Continue to receive support from creditors to delay payment until the company has adequate facilities to commence a repayment arrangement.

Basis for Consolidation

	(b)	Basis for consolidation

		Subsidiaries

		Subsidiaries are all entities (including structured entities) over which the group has control. The group controls an entity when the group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the group. They are deconsolidated from the date that control ceases.

		Intercompany transactions, balances and unrealised gains on transactions between group companies are eliminated. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the transferred asset. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group.

		Non-controlling interests in the results and equity of subsidiaries are shown separately in the consolidated statement of profit or loss, statement of comprehensive income, statement of changes in equity and balance sheet respectively.

		When the group ceases to consolidate or equity account for an investment because of a loss of control, joint control or significant influence, any retained interest in the entity is remeasured to its fair value with the change in carrying amount recognised in profit or loss. This fair value becomes the initial carrying amount for the purposes of subsequently accounting for the retained interest as an associate, joint venture or financial asset. In addition, any amounts previously recognised in other comprehensive income in respect of that entity are accounted for as if the group had directly disposed of the related assets or liabilities. This may mean that amounts previously recognised in other comprehensive income are reclassified to profit or loss.

		If the ownership interest in a joint venture or an associate is reduced but joint control or significant influence is retained, only a proportionate share of the amounts previously recognised in other comprehensive income are reclassified to profit or loss where appropriate.

Business Combinations

	(c)	Business combinations

		Business combinations are accounted for by applying the acquisition method which requires an acquiring entity to be identified in all cases. The acquisition date under this method is the date that the acquiring entity obtains control over the acquired entity.

		The fair value of identifiable assets and liabilities acquired are recognised in the consolidated financial statements at the acquisition date.

		Goodwill or a gain on bargain purchase may arise on the acquisition date, this is calculated by comparing the consideration transferred and the amount of non-controlling interest in the acquiree with the fair value of the net identifiable assets acquired. Where consideration is greater than the net assets acquired, the excess is recorded as goodwill. Where the net assets acquired are greater than the consideration, the measurement basis of the net assets are reassessed and then a gain from bargain purchase recognised in profit or loss.

		All acquisition-related costs are recognised as expenses in the periods in which the costs are incurred except for costs to issue debt or equity securities.

		Any contingent consideration which forms part of the combination is recognised at fair value at the acquisition date. If the contingent consideration is classified as equity then it is not remeasured and the settlement is accounted for within equity. Otherwise subsequent changes in the value of the contingent consideration liability are measured through profit or loss.

Income Tax

	(d)	Income Tax

		The tax expense/(benefit) recognised in the consolidated statements of profit or loss and other comprehensive income comprises of current income tax expense plus deferred tax expense/(benefit).

		Current tax is the amount of income taxes payable/(recoverable) in respect of the taxable profit/(loss) for the period and is measured at the amount expected to be paid to/(recovered from) the taxation authorities, using the tax rates and laws that have been enacted or substantively enacted by each jurisdiction by the end of the reporting period. Current tax liabilities/(assets) are measured at the amounts expected to be paid to/(recovered from) the relevant taxation authority.

		Deferred tax is provided on temporary differences which are determined by comparing the carrying amounts of tax bases of assets and liabilities to the carrying amounts in the consolidated financial statements.

		Deferred tax is not provided for the following:

		●	The initial recognition of an asset or liability in a transaction that is not a business combination and at the time of the transaction, affects neither accounting profit nor taxable profit/(tax loss).
		●	Taxable temporary differences arising on the initial recognition of goodwill.
		●	Temporary differences related to investment in subsidiaries, associates and jointly controlled entities to the extent that the Group is able to control the timing of the reversal of the temporary differences and it is probable that they will not reverse in the foreseeable future.

		Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the period when the asset is realised or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted by each jurisdiction by the end of the reporting period.

		Deferred tax assets are recognised for all deductible temporary differences and unused tax losses to the extent that it is probable that taxable profit will be available against which the deductible temporary differences and losses can be utilised.

		Current and deferred tax is recognised as income or an expense and included in profit or loss for the period except where the tax arises from a transaction which is recognised in other comprehensive income or equity, in which case the tax is recognised in other comprehensive income or equity respectively.

Leases

(e)	Leases

	Leases of fixed assets where substantially all the risks and benefits incidental to the ownership of the asset, but not the legal ownership that are transferred to entities in the Group, are classified as finance leases.

	Finance leases are capitalised by recording an asset and a liability at the lower of the amounts equal to the fair value of the leased property or the present value of the minimum lease payments, including any guaranteed residual values. Lease payments are allocated between the reduction of the lease liability and the lease interest expense for the period.

	Lease payments for operating leases, where substantially all of the risks and benefits remain with the lessor, are charged as expenses on a straight-line basis over the life of the lease term.

	Lease incentives under operating leases are recognised as a liability and amortised on a straight-line basis over the life of the lease term.

Brand Management, Administrative and Corporate Expenses

	(f)	Revenue and other income

		Revenue is recognised when the amount of the revenue can be measured reliably, it is probable that economic benefits associated with the transaction will flow to the Group and specific criteria relating to the type of revenue as noted below, has been satisfied.

		Revenue is measured at the fair value of the consideration received or receivable and is presented net of returns, discounts and rebates. The Group assess the expected customer returns and rebates according to the specific information in its possession and its past experience in similar cases.

		Sale of goods

		Sales of goods through retail stores, e-commerce and wholesale channels are recognised when there has been a transfer of risk and rewards to the customer. Risks and rewards transfer at point of sale for retail stores sales. For wholesale and e-commerce sales, risks and rewards are transferred when goods are delivered to customers, and therefore reflects an estimate of shipments that have not been received at year end based on shipping terms and historical delivery times. The Company also provides a reserve for projected merchandise returns based on prior experience.

		The Company sells gift cards to customers. The Company recognises revenue from gift cards when they are redeemed by the customers. In addition, the Company recognises revenue on unredeemed gift cards after one year when the gift cards have expired.

		(i) Sale of goods - wholesale

		The Group sells a range of lingerie products in the wholesale market. Sales are recognised when control of the products has transferred, being when the products are delivered to the wholesaler, the wholesaler has full discretion over the channel and price to sell the products, and there is no unfulfilled obligation that could affect the wholesaler’s acceptance of the products. Delivery occurs when the products have been shipped to the specific location, the risks of obsolescence and loss have been transferred to the wholesaler, and either the wholesaler has accepted the products in accordance with the sales contract, the acceptance provisions have lapsed, or the group has objective evidence that all criteria for acceptance have been satisfied.

		The contracts with wholesalers have no specific terms on volume and price, and are not modified during the terms. Revenue from these sales is recognised based on the price specified in the contract, net of the estimated volume discounts. The estimates of discount is based on the trading terms in the contracts, and revenue is only recognised to the extent that it is highly probable that a significant reversal will not occur. A refund liability (included in trade and other payables) is recognised for expected volume payable to customers in relation to sales made until the end of the reporting period. The Group’s obligation to provide a refund for faulty products under the standard trading terms is recognised as a provision.

		(ii) Sale of goods - retail/e-commerce

		The group operates a chain of retail stores and e-commerce websites selling lingerie products. Revenue from the sale of goods is recognised when a group entity sells a product to the customer.

		Payment of the transaction price is due immediately when the customer purchases the product. It is the group’s policy to sell its products to the end customer with a right of return within 30 days. Therefore, a refund liability (included in trade and other payables) and a right to the returned goods (included in inventory) are recognised for the products expected to be returned. Accumulated experience is used to estimate such returns at the time of sale at a portfolio level (expected value method). Because the number of products returned has been steady for years, it is highly probable that a significant reversal in the cumulative revenue recognised will not occur. The validity of this assumption and the estimated amount of returns are reassessed at each reporting date.

		Interest revenue

		Interest is recognised using the effective interest method.

		Dividend revenue

		Dividends are recognised when the entity’s right to receive payment is established.

		Rendering of services

		Revenue from service transactions are recognised as services are performed.

		Other income

		Other income is recognised on an accruals basis when the Group is entitled to it.

(g)	Brand management, administrative and corporate expenses

	Corporate expenses includes head office costs such as human resources, finance team and rental costs. Administrative expenses includes depreciation and amortisation, as well as professional accounting fees. Brand management expenses includes other costs incurred in selling products, including advertising, design and retail store occupancy and payroll.

Borrowing Costs

(h)	Borrowing costs

	Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale. Investment income earned on the temporary investment of specific borrowing pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalisation.

	All other borrowing costs are recognised as an expense in the period in which they are incurred.

(i)	Inventories

	Inventories are measured at the lower of cost and net realisable value. Cost of inventory is determined using the weighted average costs basis and is net of any rebates and discounts received. Net realisable value represents the estimated selling price for inventories less costs necessary to make the sale. Net realisable value is estimated using the most reliable evidence available at the reporting date and inventory is written down through an obsolescence provision if necessary.

Impairment of Non-financial Assets

	(j)	Property, plant and equipment

		Plant and equipment

		Plant and equipment are measured using the cost model.

		Under the cost model the asset is carried at its cost less any accumulated depreciation and any impairment losses. Costs include purchase price and other directly attributable costs associated with locating the asset to the installation site, where applicable.

		Depreciation

		Property, plant and equipment, is depreciated on a straight-line basis over the assets useful life to the Group, commencing when the asset is ready for use.

		The estimated useful lives used for each class of depreciable asset are shown below:

Fixed asset class	Useful life

Leasehold improvements	1 - 10 years
Plant, furniture, fittings and motor vehicles	3 - 7 years

Financial Instruments

	(k)	Financial instruments

		Financial instruments are recognised initially using trade date accounting, i.e. on the date that the Group becomes party to the contractual provisions of the instrument.

		On initial recognition, all financial instruments are measured at fair value plus transaction costs (except for instruments measured at fair value through profit or loss where transaction costs are expensed as incurred).

		Financial Assets

		(i) Classification

		From 1 February 2018, the group classifies its financial assets in the following measurement categories:

	●	those to be measured subsequently at fair value (either through OCI or through profit or loss), and
	●	those to be measured at amortised cost.

		The classification depends on the entity’s business model for managing the financial assets and the contractual terms of the cash flows.

		For assets measured at fair value, gains and losses will either be recorded in profit or loss or OCI. For investments in equity instruments that are not held for trading, this will depend on whether the group has made an irrevocable election at the time of initial recognition to account for the equity investment at fair value through other comprehensive income (FVOCI).

		The group reclassifies debt investments when and only when its business model for managing those assets changes.

		(ii) Recognition and derecognition

		Regular way purchases and sales of financial assets are recognised on trade-date, the date on which the group commits to purchase or sell the asset. Financial assets are derecognised when the rights to receive cash flows from the financial assets have expired or have been transferred and the group has transferred substantially all the risks and rewards of ownership.

		(iii) Measurement

		At initial recognition, the group measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss (FVPL), transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at FVPL are expensed in profit or loss.

		Financial assets with embedded derivatives are considered in their entirety when determining whether their cash flows are solely payment of principal and interest.

		Debt instruments

		Subsequent measurement of debt instruments depends on the group’s business model for managing the asset and the cash flow characteristics of the asset. There are three measurement categories into which the group classifies its debt instruments:

	●	Amortised cost: Assets that are held for collection of contractual cash flows where those cash flows represent solely payments of principal and interest are measured at amortised cost. Interest income from these financial assets is included in finance income using the effective interest rate method. Any gain or loss arising on derecognition is recognised directly in profit or loss and presented in other gains/(losses) together with foreign exchange gains and losses. Impairment losses are presented as separate line item in the statement of profit or loss.

	●	FVOCI: Assets that are held for collection of contractual cash flows and for selling the financial assets, where the assets’ cash flows represent solely payments of principal and interest, are measured at FVOCI. Movements in the carrying amount are taken through OCI, except for the recognition of impairment gains or losses, interest income and foreign exchange gains and losses which are recognised in profit or loss. When the financial asset is derecognised, the cumulative gain or loss previously recognised in OCI is reclassified from equity to profit or loss and recognised in other gains/(losses). Interest income from these financial assets is included in finance income using the effective interest rate method. Foreign exchange gains and losses are presented in other gains/(losses) and impairment expenses are presented as separate line item in the statement of profit or loss.

	●	FVPL: Assets that do not meet the criteria for amortised cost or FVOCI are measured at FVPL. A gain or loss on a debt investment that is subsequently measured at FVPL is recognised in profit or loss and presented net within other gains/(losses) in the period in which it arises.

		Equity instruments

		The group subsequently measures all equity investments at fair value. Where the group’s management has elected to present fair value gains and losses on equity investments in OCI, there is no subsequent reclassification of fair value gains and losses to profit or loss following the derecognition of the investment. Dividends from such investments continue to be recognised in profit or loss as other income when the group’s right to receive payments is established.

		Changes in the fair value of financial assets at FVPL are recognised in other gains/(losses) in the statement of profit or loss as applicable. Impairment losses (and reversal of impairment losses) on equity investments measured at FVOCI are not reported separately from other changes in fair value.

		(iv) Impairment

		From 1 February 2018, the group assesses on a forward looking basis the expected credit losses associated with its debt instruments carried at amortised cost and FVOCI. The impairment methodology applied depends on whether there has been a significant increase in credit risk.

		For trade receivables, the group applies the simplified approach permitted by IFRS 9, which requires expected lifetime losses to be recognised from initial recognition of the receivables.

		(v) Subsequent measurement

		If there is objective evidence that an impairment loss on financial assets carried at amortised cost has been incurred, the amount of the loss is measured as the difference between the asset’s carrying amount and the present value of the estimated future cash flows discounted at the financial assets original effective interest rate.

		Subsequent recoveries of amounts previously written off are credited against other expenses in profit or loss.

		Financial liabilities

		Financial liabilities are classified as either financial liabilities ‘at fair value through profit or loss’ or other financial liabilities depending on the purpose for which the liability was acquired. Although the Group uses derivative financial instruments in economic hedges of currency and interest rate risk, it does not hedge account for these transactions.

		The Group’s financial liabilities include borrowings, trade and other payables (including finance lease liabilities), which are measured at amortised cost using the effective interest rate method.

		All of the Group’s derivative financial instruments that are not designated as hedging instruments are accounted for at fair value through profit or loss.

(l)	Impairment of non-financial assets

	At the end of each reporting period the Group determines whether there is an evidence of an impairment indicator for non-financial assets.

	Where an indicator exists and regardless for goodwill, indefinite life intangible assets and intangible assets not yet available for use, the recoverable amount of the asset is estimated.

	Where assets do not operate independently of other assets, the recoverable amount of the relevant cash-generating unit (CGU) is estimated.

	The recoverable amount of an asset or CGU is the higher of the fair value less costs of disposal and the value in use. Value in use is the present value of the future cash flows expected to be derived from an asset or cash-generating unit.

	Where the recoverable amount is less than the carrying amount, an impairment loss is recognised in profit or loss.

	Reversal indicators are considered in subsequent periods for all assets which have suffered an impairment loss, except for goodwill.

	(m)	Cash and cash equivalents

		For the purpose of presentation in the statement of cash flows, cash and cash equivalents includes cash on hand, deposits held at call with financial institutions, other short-term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities in the balance sheet.

Trade Receivables

	(n)	Trade receivables

		Trade receivables are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method, less provision for impairment.

	(o)	Trade and other payables

		These amounts represent liabilities for goods and services provided to the group prior to the end of financial year which are unpaid. The amounts are unsecured and are usually paid within 30 days of recognition. Trade and other payables are presented as current liabilities unless payment is not due within 12 months after the reporting period. They are recognised initially at their fair value and subsequently measured at amortised cost using the effective interest method.

Intangibles

	(p)	Intangibles

		Goodwill

		Goodwill is carried at cost less accumulated impairment losses. Goodwill is calculated as the excess of the sum of:

		i)	the consideration transferred;
		ii)	any non-controlling interest; and
		iii)	the acquisition date fair value of any previously held equity interest;

		over the acquisition date fair value of net identifiable assets acquired in a business combination.

		The value of goodwill recognised on acquisition of each subsidiary in which the Group holds less than a 100% interest will depend on the method adopted in measuring the aforementioned non-controlling interest. The Group can elect to measure the non-controlling interest in the acquiree either at fair value (‘full goodwill method’) or at the non-controlling interest’s proportionate share of the subsidiary’s identifiable net assets (‘proportionate interest method’). The Group determines which method to adopt for each acquisition.

		Patents and licences

		Separately acquired patents and licences are shown at historical cost. Licenses and customer contracts acquired in a business combination are recognised at fair value at the acquisition date. They have a finite useful life and are subsequently carried at cost less accumulated amortisation and impairment losses. Licence fees have an estimated useful life of 5 years.

		Software

		Software has a finite life and is carried at cost less any accumulated amortisation and impairment losses. It has an estimated useful life of between one and three years.

		Brands

		Brand assets relate to brands owned by the Group that have arisen on historical acquisitions. These assets were initially measured at fair value.

		Brands are considered to have an indefinite life and are therefore not amortised. They are considered to have indefinite lives because there is no foreseeable limit to the period over which the asset is expected to generate net cash flows for the entity. The brands have been in existence for many years, are well established and show no signs of deteriorating. They are assessed for impairment annually or more frequently if impairment indicators exist.

		Amortisation

		Amortisation is recognised in profit or loss on a straight-line basis over the estimated useful lives of intangible assets, other than goodwill and brands, from the date that they are available for use.

		Amortisation methods, useful lives and residual values are reviewed at each reporting date and adjusted if appropriate.

		Goodwill and indefinite life brands are not amortised but are tested for impairment annually or more frequently if impairment indicators exist. Goodwill is allocated to the Group’s cash generating units or groups of cash generating units, which represent the lowest level at which goodwill is monitored but where such level is not larger than an operating segment. Gains and losses on the disposal of an entity include the carrying amount of goodwill related to the entity sold.

Employee Benefits

(q)

Employee benefits

		(i)	Short-term obligations

			Liabilities for wages and salaries, including non-monetary benefits and accumulating sick leave that are expected to be settled wholly within 12 months after the end of the period in which the employees render the related service are recognised in respect of employees’ services up to the end of the reporting period and are measured at the amounts expected to be paid when the liabilities are settled. The liabilities are presented as current employee benefit obligations in the balance sheet.

		(ii)	Other long-term employee benefit obligations

			The liabilities for long service leave and annual leave are not expected to be settled wholly within 12 months after the end of the period in which the employees render the related service. They are therefore measured as the present value of expected future payments to be made in respect of services provided by employees up to the end of the reporting period using the projected unit credit method. Consideration is given to expected future wage and salary levels, experience of employee departures and periods of service. Expected future payments are discounted using market yields at the end of the reporting period of high-quality corporate bonds with terms and currencies that match, as closely as possible, the estimated future cash outflows. Remeasurements as a result of experience adjustments and changes in actuarial assumptions are recognised in profit or loss.

		(ii)	Other long-term employee benefit obligations

			The obligations are presented as current liabilities in the balance sheet if the entity does not have an unconditional right to defer settlement for at least twelve months after the reporting period, regardless of when the actual settlement is expected to occur.

Earnings/(Loss) Per Share

	(r)	Provisions

		Provisions are recognised when the Group has a legal or constructive obligation, as a result of past events, for which it is probable that an outflow of economic benefits will result and that outflow can be reliably measured.

		Provisions are measured at the present value of management’s best estimate of the outflow required to settle the obligation at the end of the reporting period. The discount rate used is a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The increase in the provision due to the unwinding of the discount is taken to finance costs in the consolidated statements of profit or loss and other comprehensive income.

		Provisions recognised represent the best estimate of the amounts required to settle the obligation at the end of the reporting period.

		(i)	Lease incentive provision

			Lease contributions include payment for improvements initially funded by the landlord. The improvement asset is capitalised and a provision for the amount of landlord contribution is recognised. The provision is released on a monthly basis over the term of the lease of the property.

		(ii)	Onerous contract provision

			The Group provides for future losses on long-term contracts where it is considered probable that the contract costs are likely to exceed revenues in future years. A provision is required for the present value of future losses. Estimating these future losses involves a number of assumptions about the achievement of contract performance targets and the likely levels of future cost escalation over time.

		(iii)	Make good provision

			The Group is required to restore the lease premises of various retail stores to their original condition at the end of the respective lease terms. Provisions for make good obligations are recognised when the group has a present legal or constructive obligation as a result of past events, it is probable that an outflow of resources will be required to settle the obligation and the amount can be reliably estimated. A provision is recognised for the present value of the estimated expenditure required to remove any leasehold improvements. These costs have been capitalised as part of the cost of leasehold improvements and are amortised over the lease term.

(s)

Earnings/(loss) per share

(i)

Basic earnings/(loss) per share

Basic earnings/(loss) per share is calculated by dividing:

	●	the profit/(loss) attributable to owners of the Company, excluding any costs of servicing equity other than ordinary shares
	●	by the weighted average number of ordinary shares outstanding during the financial year.

(ii) Diluted earnings/(loss) per share

Diluted earnings/(loss) per share adjusts the figures used in the determination of basic earnings per share to take into account:

		●	the after income tax effect of interest and other financing costs associated with dilutive potential ordinary shares, and
		●	the weighted average number of additional ordinary shares that would have been outstanding assuming the conversion of all dilutive potential ordinary shares.

	(t)	Borrowings

		Borrowings are initially recognised at fair value, net of transaction costs incurred. Borrowings are subsequently measured at amortised cost. Any difference between the proceeds (net of transaction costs) and the redemption amount is recognised in profit or loss over the period of the borrowings using the effective interest method. Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalised as a prepayment for liquidity services and amortised over the period of the facility to which it relates.

		Where the terms of a financial liability are renegotiated and the entity issues equity instruments to a creditor to extinguish all or part of the liability (debt for equity swap), a gain or loss is recognised in profit or loss, which is measured as the difference between the carrying amount of the financial liability and the fair value of the equity instruments issued.

		Borrowings are classified as current liabilities unless the Group has an unconditional right to defer settlement of the liability for at least 12 months after the reporting period.

Convertible Notes

(u)	Convertible Notes

	On issuance of the convertible notes, an assessment is made to determine whether the convertible notes contain an equity instrument or whether the whole instrument should be classified as a financial liability.

	When it is determined that the whole instrument is a financial liability and no equity instrument is identified (for example for foreign-currency-denominated convertibles notes), the conversion option is separated from the host debt and classified as a derivative liability. The carrying value of the host contract (a contract denominated in a foreign currency) at initial recognition is determined as the difference between the consideration received and the fair value of the embedded derivative. The host contract is subsequently measured at amortised cost using the effective interest rate method. The embedded derivative is subsequently measured at fair value at the end of each reporting period through the profit and loss. The convertible note and the derivative are presented as a single number on the balance sheet within interest-bearing loans and borrowings.

	When it is determined that the instrument contains an equity component based on the terms of the contract, on issuance of the convertible notes, the fair value of the liability component is determined using a market rate for an equivalent non-convertible bond. This amount is classified as a financial liability measured at amortised cost (net of transaction costs) until it is extinguished on conversion or redemption. The remainder of the proceeds is allocated to the conversion option that is recognised and included in equity. Transaction costs are deducted from equity, net of associated income tax. The carrying amount of the conversion option is not re-measured in subsequent years.

Foreign Currency Transactions and Balances

(v)	Share capital

	Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of ordinary shares are recognised as a deduction from equity, net of any tax effects.

	(w)	Foreign currency transactions and balances

		Each of the entities within the Group prepare their financial statements based on the currency of the primary economic environment in which the entity operates (functional currency). The consolidated financial statements are presented in New Zealand dollars which is the parent entity’s functional and presentation currency.

		Transaction and balances

		Foreign currency transactions are recorded at the spot rate on the date of the transaction.

		At the end of the reporting period:

	●	Foreign currency monetary items are translated using the closing foreign currency rate;
	●	Non-monetary items that are measured at historical cost are translated using the exchange rate at the date of the transaction; and
	●	Non-monetary items that are measured at fair value are translated using the rate at the date when fair value was determined.

		Group companies

		The financial results and position of foreign operations whose functional currency is different from the Group’s presentation currency are translated as follows:

		●	assets and liabilities are translated at period-end exchange rates prevailing at that reporting date;
		●	income and expenses are translated at average exchange rates for the period where the average rate approximates the rate at the date of the transaction; and
		●	retained earnings are translated at the exchange rates prevailing at the date of the transaction.

New and Amended Accounting Standards Adopted by the Group

	(x)	New and amended accounting standards adopted by the Group

		A number of new or amended accounting standards become applicable for the current reporting period and the Group had to change it accounting policies as a result of adopting the following accounting standards.

		- IFRS 9 Financial Instruments
		- IFRS 15 Revenue from contract with customers

New Accounting Standards and Interpretations

(y)

New Accounting Standards and Interpretations

Title of Standard	Nature of change	Impact	Mandatory application date/Date of adoption by Group
IFRS 16 Leases	In February 2016 the IASB issued a new standard for leases. This AASB 16 replaces IAS 17. The main impact on lessees is that almost all leases go on balance sheet. This is because the balance sheet distinction between operating and finance leases is removed for lessees. Instead, under the new standard an asset (the right to use the leased item) and a financial liability to pay rentals are recognised. The only exemptions are short-term and low-value leases.	This standard will affect the accounting for the Group’s operating leases. As at the reporting date, the Group has non-cancellable operating lease commitments of $29.9m. However, the Group has not yet determined to what extent these commitments will result in the recognition of an asset and a liability for future payments and how this will affect the Group’s profit and classification of cash flows.	Management is currently assessing the impact of the new rules and believes the adoption of the provisions of this update will have a material impact on the Company’s consolidated financial statements. Mandatory for financial years commencing on or after 1 January 2019. Expected date of adoption by the Group: 1 February 2019.
IFRC 23 Uncertainty over Income Tax Treatments (IFRIC 23)	On June 7, 2017, the IASB issued IFRIC 23, Uncertainty over Income Tax Treatments (“IFRIC 23”). IFRIC 23 clarifies the application of recognition and measurement requirements in IAS 12, Income Taxes, when there is uncertainty over income tax treatments. The IFRIC 23 interpretation specifically addresses whether an entity considers uncertain tax treatments separately; the assumptions an entity makes about the examination of tax treatments by taxation authorities; how an entity determines taxable profit (tax loss), tax bases, unused tax losses, unused tax credits and tax rates; and how an entity considers changes in facts and circumstances.	The Company is currently evaluating the impact of adopting this standard on the consolidated financial statements.	IFRIC 23 is effective for annual periods beginning on or after January 1, 2019, with earlier application permitted.

Operating Segments

	(z)	Operating segments

		Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision maker. The executive directors are the chief operating decision maker, responsible for allocating resources and assessing performance of the operating segments.

Summary of Significant Accounting Policies (Policies) (Bendon Limited)

6 Months Ended

12 Months Ended

Jul. 31, 2018

Jan. 31, 2018

SummaryOfSignificantAccountingPoliciesLineItems [Line Items]

Going Concern

(a)

Going concern

●

Raising further capital of at least NZ$36 million and collecting it between March 2019 and July 2019;

●

Continue to receive support from creditors to delay payment until the company has adequate facilities to commence a repayment arrangement.

Basis for Consolidation

	(b)	Basis for consolidation

		Subsidiaries

		Subsidiaries are all entities (including structured entities) over which the group has control. The group controls an entity when the group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the group. They are deconsolidated from the date that control ceases.

		Intercompany transactions, balances and unrealised gains on transactions between group companies are eliminated. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the transferred asset. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group.

		Non-controlling interests in the results and equity of subsidiaries are shown separately in the consolidated statement of profit or loss, statement of comprehensive income, statement of changes in equity and balance sheet respectively.

		When the group ceases to consolidate or equity account for an investment because of a loss of control, joint control or significant influence, any retained interest in the entity is remeasured to its fair value with the change in carrying amount recognised in profit or loss. This fair value becomes the initial carrying amount for the purposes of subsequently accounting for the retained interest as an associate, joint venture or financial asset. In addition, any amounts previously recognised in other comprehensive income in respect of that entity are accounted for as if the group had directly disposed of the related assets or liabilities. This may mean that amounts previously recognised in other comprehensive income are reclassified to profit or loss.

		If the ownership interest in a joint venture or an associate is reduced but joint control or significant influence is retained, only a proportionate share of the amounts previously recognised in other comprehensive income are reclassified to profit or loss where appropriate.

Business Combinations

	(c)	Business combinations

		Business combinations are accounted for by applying the acquisition method which requires an acquiring entity to be identified in all cases. The acquisition date under this method is the date that the acquiring entity obtains control over the acquired entity.

		The fair value of identifiable assets and liabilities acquired are recognised in the consolidated financial statements at the acquisition date.

		Goodwill or a gain on bargain purchase may arise on the acquisition date, this is calculated by comparing the consideration transferred and the amount of non-controlling interest in the acquiree with the fair value of the net identifiable assets acquired. Where consideration is greater than the net assets acquired, the excess is recorded as goodwill. Where the net assets acquired are greater than the consideration, the measurement basis of the net assets are reassessed and then a gain from bargain purchase recognised in profit or loss.

		All acquisition-related costs are recognised as expenses in the periods in which the costs are incurred except for costs to issue debt or equity securities.

		Any contingent consideration which forms part of the combination is recognised at fair value at the acquisition date. If the contingent consideration is classified as equity then it is not remeasured and the settlement is accounted for within equity. Otherwise subsequent changes in the value of the contingent consideration liability are measured through profit or loss.

Income Tax

	(d)	Income Tax

		The tax expense/(benefit) recognised in the consolidated statements of profit or loss and other comprehensive income comprises of current income tax expense plus deferred tax expense/(benefit).

		Current tax is the amount of income taxes payable/(recoverable) in respect of the taxable profit/(loss) for the period and is measured at the amount expected to be paid to/(recovered from) the taxation authorities, using the tax rates and laws that have been enacted or substantively enacted by each jurisdiction by the end of the reporting period. Current tax liabilities/(assets) are measured at the amounts expected to be paid to/(recovered from) the relevant taxation authority.

		Deferred tax is provided on temporary differences which are determined by comparing the carrying amounts of tax bases of assets and liabilities to the carrying amounts in the consolidated financial statements.

		Deferred tax is not provided for the following:

		●	The initial recognition of an asset or liability in a transaction that is not a business combination and at the time of the transaction, affects neither accounting profit nor taxable profit/(tax loss).
		●	Taxable temporary differences arising on the initial recognition of goodwill.
		●	Temporary differences related to investment in subsidiaries, associates and jointly controlled entities to the extent that the Group is able to control the timing of the reversal of the temporary differences and it is probable that they will not reverse in the foreseeable future.

		Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the period when the asset is realised or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted by each jurisdiction by the end of the reporting period.

		Deferred tax assets are recognised for all deductible temporary differences and unused tax losses to the extent that it is probable that taxable profit will be available against which the deductible temporary differences and losses can be utilised.

		Current and deferred tax is recognised as income or an expense and included in profit or loss for the period except where the tax arises from a transaction which is recognised in other comprehensive income or equity, in which case the tax is recognised in other comprehensive income or equity respectively.

Leases

(e)	Leases

	Leases of fixed assets where substantially all the risks and benefits incidental to the ownership of the asset, but not the legal ownership that are transferred to entities in the Group, are classified as finance leases.

	Finance leases are capitalised by recording an asset and a liability at the lower of the amounts equal to the fair value of the leased property or the present value of the minimum lease payments, including any guaranteed residual values. Lease payments are allocated between the reduction of the lease liability and the lease interest expense for the period.

	Lease payments for operating leases, where substantially all of the risks and benefits remain with the lessor, are charged as expenses on a straight-line basis over the life of the lease term.

	Lease incentives under operating leases are recognised as a liability and amortised on a straight-line basis over the life of the lease term.

Brand Management, Administrative and Corporate Expenses

	(f)	Revenue and other income

		Revenue is recognised when the amount of the revenue can be measured reliably, it is probable that economic benefits associated with the transaction will flow to the Group and specific criteria relating to the type of revenue as noted below, has been satisfied.

		Revenue is measured at the fair value of the consideration received or receivable and is presented net of returns, discounts and rebates. The Group assess the expected customer returns and rebates according to the specific information in its possession and its past experience in similar cases.

		Sale of goods

		Sales of goods through retail stores, e-commerce and wholesale channels are recognised when there has been a transfer of risk and rewards to the customer. Risks and rewards transfer at point of sale for retail stores sales. For wholesale and e-commerce sales, risks and rewards are transferred when goods are delivered to customers, and therefore reflects an estimate of shipments that have not been received at year end based on shipping terms and historical delivery times. The Company also provides a reserve for projected merchandise returns based on prior experience.

		The Company sells gift cards to customers. The Company recognises revenue from gift cards when they are redeemed by the customers. In addition, the Company recognises revenue on unredeemed gift cards after one year when the gift cards have expired.

		(i) Sale of goods - wholesale

		The Group sells a range of lingerie products in the wholesale market. Sales are recognised when control of the products has transferred, being when the products are delivered to the wholesaler, the wholesaler has full discretion over the channel and price to sell the products, and there is no unfulfilled obligation that could affect the wholesaler’s acceptance of the products. Delivery occurs when the products have been shipped to the specific location, the risks of obsolescence and loss have been transferred to the wholesaler, and either the wholesaler has accepted the products in accordance with the sales contract, the acceptance provisions have lapsed, or the group has objective evidence that all criteria for acceptance have been satisfied.

		The contracts with wholesalers have no specific terms on volume and price, and are not modified during the terms. Revenue from these sales is recognised based on the price specified in the contract, net of the estimated volume discounts. The estimates of discount is based on the trading terms in the contracts, and revenue is only recognised to the extent that it is highly probable that a significant reversal will not occur. A refund liability (included in trade and other payables) is recognised for expected volume payable to customers in relation to sales made until the end of the reporting period. The Group’s obligation to provide a refund for faulty products under the standard trading terms is recognised as a provision.

		(ii) Sale of goods - retail/e-commerce

		The group operates a chain of retail stores and e-commerce websites selling lingerie products. Revenue from the sale of goods is recognised when a group entity sells a product to the customer.

		Payment of the transaction price is due immediately when the customer purchases the product. It is the group’s policy to sell its products to the end customer with a right of return within 30 days. Therefore, a refund liability (included in trade and other payables) and a right to the returned goods (included in inventory) are recognised for the products expected to be returned. Accumulated experience is used to estimate such returns at the time of sale at a portfolio level (expected value method). Because the number of products returned has been steady for years, it is highly probable that a significant reversal in the cumulative revenue recognised will not occur. The validity of this assumption and the estimated amount of returns are reassessed at each reporting date.

		Interest revenue

		Interest is recognised using the effective interest method.

		Dividend revenue

		Dividends are recognised when the entity’s right to receive payment is established.

		Rendering of services

		Revenue from service transactions are recognised as services are performed.

		Other income

		Other income is recognised on an accruals basis when the Group is entitled to it.

(g)	Brand management, administrative and corporate expenses

	Corporate expenses includes head office costs such as human resources, finance team and rental costs. Administrative expenses includes depreciation and amortisation, as well as professional accounting fees. Brand management expenses includes other costs incurred in selling products, including advertising, design and retail store occupancy and payroll.

Borrowing Costs

(h)	Borrowing costs

	Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale. Investment income earned on the temporary investment of specific borrowing pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalisation.

	All other borrowing costs are recognised as an expense in the period in which they are incurred.

(i)	Inventories

	Inventories are measured at the lower of cost and net realisable value. Cost of inventory is determined using the weighted average costs basis and is net of any rebates and discounts received. Net realisable value represents the estimated selling price for inventories less costs necessary to make the sale. Net realisable value is estimated using the most reliable evidence available at the reporting date and inventory is written down through an obsolescence provision if necessary.

Impairment of Non-financial Assets

	(j)	Property, plant and equipment

		Plant and equipment

		Plant and equipment are measured using the cost model.

		Under the cost model the asset is carried at its cost less any accumulated depreciation and any impairment losses. Costs include purchase price and other directly attributable costs associated with locating the asset to the installation site, where applicable.

		Depreciation

		Property, plant and equipment, is depreciated on a straight-line basis over the assets useful life to the Group, commencing when the asset is ready for use.

		The estimated useful lives used for each class of depreciable asset are shown below:

Fixed asset class	Useful life

Leasehold improvements	1 - 10 years
Plant, furniture, fittings and motor vehicles	3 - 7 years

Financial Instruments

	(k)	Financial instruments

		Financial instruments are recognised initially using trade date accounting, i.e. on the date that the Group becomes party to the contractual provisions of the instrument.

		On initial recognition, all financial instruments are measured at fair value plus transaction costs (except for instruments measured at fair value through profit or loss where transaction costs are expensed as incurred).

		Financial Assets

		(i) Classification

		From 1 February 2018, the group classifies its financial assets in the following measurement categories:

	●	those to be measured subsequently at fair value (either through OCI or through profit or loss), and
	●	those to be measured at amortised cost.

		The classification depends on the entity’s business model for managing the financial assets and the contractual terms of the cash flows.

		For assets measured at fair value, gains and losses will either be recorded in profit or loss or OCI. For investments in equity instruments that are not held for trading, this will depend on whether the group has made an irrevocable election at the time of initial recognition to account for the equity investment at fair value through other comprehensive income (FVOCI).

		The group reclassifies debt investments when and only when its business model for managing those assets changes.

		(ii) Recognition and derecognition

		Regular way purchases and sales of financial assets are recognised on trade-date, the date on which the group commits to purchase or sell the asset. Financial assets are derecognised when the rights to receive cash flows from the financial assets have expired or have been transferred and the group has transferred substantially all the risks and rewards of ownership.

		(iii) Measurement

		At initial recognition, the group measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss (FVPL), transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at FVPL are expensed in profit or loss.

		Financial assets with embedded derivatives are considered in their entirety when determining whether their cash flows are solely payment of principal and interest.

		Debt instruments

		Subsequent measurement of debt instruments depends on the group’s business model for managing the asset and the cash flow characteristics of the asset. There are three measurement categories into which the group classifies its debt instruments:

	●	Amortised cost: Assets that are held for collection of contractual cash flows where those cash flows represent solely payments of principal and interest are measured at amortised cost. Interest income from these financial assets is included in finance income using the effective interest rate method. Any gain or loss arising on derecognition is recognised directly in profit or loss and presented in other gains/(losses) together with foreign exchange gains and losses. Impairment losses are presented as separate line item in the statement of profit or loss.

	●	FVOCI: Assets that are held for collection of contractual cash flows and for selling the financial assets, where the assets’ cash flows represent solely payments of principal and interest, are measured at FVOCI. Movements in the carrying amount are taken through OCI, except for the recognition of impairment gains or losses, interest income and foreign exchange gains and losses which are recognised in profit or loss. When the financial asset is derecognised, the cumulative gain or loss previously recognised in OCI is reclassified from equity to profit or loss and recognised in other gains/(losses). Interest income from these financial assets is included in finance income using the effective interest rate method. Foreign exchange gains and losses are presented in other gains/(losses) and impairment expenses are presented as separate line item in the statement of profit or loss.

	●	FVPL: Assets that do not meet the criteria for amortised cost or FVOCI are measured at FVPL. A gain or loss on a debt investment that is subsequently measured at FVPL is recognised in profit or loss and presented net within other gains/(losses) in the period in which it arises.

		Equity instruments

		The group subsequently measures all equity investments at fair value. Where the group’s management has elected to present fair value gains and losses on equity investments in OCI, there is no subsequent reclassification of fair value gains and losses to profit or loss following the derecognition of the investment. Dividends from such investments continue to be recognised in profit or loss as other income when the group’s right to receive payments is established.

		Changes in the fair value of financial assets at FVPL are recognised in other gains/(losses) in the statement of profit or loss as applicable. Impairment losses (and reversal of impairment losses) on equity investments measured at FVOCI are not reported separately from other changes in fair value.

		(iv) Impairment

		From 1 February 2018, the group assesses on a forward looking basis the expected credit losses associated with its debt instruments carried at amortised cost and FVOCI. The impairment methodology applied depends on whether there has been a significant increase in credit risk.

		For trade receivables, the group applies the simplified approach permitted by IFRS 9, which requires expected lifetime losses to be recognised from initial recognition of the receivables.

		(v) Subsequent measurement

		If there is objective evidence that an impairment loss on financial assets carried at amortised cost has been incurred, the amount of the loss is measured as the difference between the asset’s carrying amount and the present value of the estimated future cash flows discounted at the financial assets original effective interest rate.

		Subsequent recoveries of amounts previously written off are credited against other expenses in profit or loss.

		Financial liabilities

		Financial liabilities are classified as either financial liabilities ‘at fair value through profit or loss’ or other financial liabilities depending on the purpose for which the liability was acquired. Although the Group uses derivative financial instruments in economic hedges of currency and interest rate risk, it does not hedge account for these transactions.

		The Group’s financial liabilities include borrowings, trade and other payables (including finance lease liabilities), which are measured at amortised cost using the effective interest rate method.

		All of the Group’s derivative financial instruments that are not designated as hedging instruments are accounted for at fair value through profit or loss.

(l)	Impairment of non-financial assets

	At the end of each reporting period the Group determines whether there is an evidence of an impairment indicator for non-financial assets.

	Where an indicator exists and regardless for goodwill, indefinite life intangible assets and intangible assets not yet available for use, the recoverable amount of the asset is estimated.

	Where assets do not operate independently of other assets, the recoverable amount of the relevant cash-generating unit (CGU) is estimated.

	The recoverable amount of an asset or CGU is the higher of the fair value less costs of disposal and the value in use. Value in use is the present value of the future cash flows expected to be derived from an asset or cash-generating unit.

	Where the recoverable amount is less than the carrying amount, an impairment loss is recognised in profit or loss.

	Reversal indicators are considered in subsequent periods for all assets which have suffered an impairment loss, except for goodwill.

	(m)	Cash and cash equivalents

		For the purpose of presentation in the statement of cash flows, cash and cash equivalents includes cash on hand, deposits held at call with financial institutions, other short-term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities in the balance sheet.

Trade Receivables

	(n)	Trade receivables

		Trade receivables are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method, less provision for impairment.

	(o)	Trade and other payables

		These amounts represent liabilities for goods and services provided to the group prior to the end of financial year which are unpaid. The amounts are unsecured and are usually paid within 30 days of recognition. Trade and other payables are presented as current liabilities unless payment is not due within 12 months after the reporting period. They are recognised initially at their fair value and subsequently measured at amortised cost using the effective interest method.

Intangibles

	(p)	Intangibles

		Goodwill

		Goodwill is carried at cost less accumulated impairment losses. Goodwill is calculated as the excess of the sum of:

		i)	the consideration transferred;
		ii)	any non-controlling interest; and
		iii)	the acquisition date fair value of any previously held equity interest;

		over the acquisition date fair value of net identifiable assets acquired in a business combination.

		The value of goodwill recognised on acquisition of each subsidiary in which the Group holds less than a 100% interest will depend on the method adopted in measuring the aforementioned non-controlling interest. The Group can elect to measure the non-controlling interest in the acquiree either at fair value (‘full goodwill method’) or at the non-controlling interest’s proportionate share of the subsidiary’s identifiable net assets (‘proportionate interest method’). The Group determines which method to adopt for each acquisition.

		Patents and licences

		Separately acquired patents and licences are shown at historical cost. Licenses and customer contracts acquired in a business combination are recognised at fair value at the acquisition date. They have a finite useful life and are subsequently carried at cost less accumulated amortisation and impairment losses. Licence fees have an estimated useful life of 5 years.

		Software

		Software has a finite life and is carried at cost less any accumulated amortisation and impairment losses. It has an estimated useful life of between one and three years.

		Brands

		Brand assets relate to brands owned by the Group that have arisen on historical acquisitions. These assets were initially measured at fair value.

		Brands are considered to have an indefinite life and are therefore not amortised. They are considered to have indefinite lives because there is no foreseeable limit to the period over which the asset is expected to generate net cash flows for the entity. The brands have been in existence for many years, are well established and show no signs of deteriorating. They are assessed for impairment annually or more frequently if impairment indicators exist.

		Amortisation

		Amortisation is recognised in profit or loss on a straight-line basis over the estimated useful lives of intangible assets, other than goodwill and brands, from the date that they are available for use.

		Amortisation methods, useful lives and residual values are reviewed at each reporting date and adjusted if appropriate.

		Goodwill and indefinite life brands are not amortised but are tested for impairment annually or more frequently if impairment indicators exist. Goodwill is allocated to the Group’s cash generating units or groups of cash generating units, which represent the lowest level at which goodwill is monitored but where such level is not larger than an operating segment. Gains and losses on the disposal of an entity include the carrying amount of goodwill related to the entity sold.

Employee Benefits

(q)

Employee benefits

		(i)	Short-term obligations

			Liabilities for wages and salaries, including non-monetary benefits and accumulating sick leave that are expected to be settled wholly within 12 months after the end of the period in which the employees render the related service are recognised in respect of employees’ services up to the end of the reporting period and are measured at the amounts expected to be paid when the liabilities are settled. The liabilities are presented as current employee benefit obligations in the balance sheet.

		(ii)	Other long-term employee benefit obligations

			The liabilities for long service leave and annual leave are not expected to be settled wholly within 12 months after the end of the period in which the employees render the related service. They are therefore measured as the present value of expected future payments to be made in respect of services provided by employees up to the end of the reporting period using the projected unit credit method. Consideration is given to expected future wage and salary levels, experience of employee departures and periods of service. Expected future payments are discounted using market yields at the end of the reporting period of high-quality corporate bonds with terms and currencies that match, as closely as possible, the estimated future cash outflows. Remeasurements as a result of experience adjustments and changes in actuarial assumptions are recognised in profit or loss.

		(ii)	Other long-term employee benefit obligations

			The obligations are presented as current liabilities in the balance sheet if the entity does not have an unconditional right to defer settlement for at least twelve months after the reporting period, regardless of when the actual settlement is expected to occur.

Earnings/(Loss) Per Share

	(r)	Provisions

		Provisions are recognised when the Group has a legal or constructive obligation, as a result of past events, for which it is probable that an outflow of economic benefits will result and that outflow can be reliably measured.

		Provisions are measured at the present value of management’s best estimate of the outflow required to settle the obligation at the end of the reporting period. The discount rate used is a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The increase in the provision due to the unwinding of the discount is taken to finance costs in the consolidated statements of profit or loss and other comprehensive income.

		Provisions recognised represent the best estimate of the amounts required to settle the obligation at the end of the reporting period.

		(i)	Lease incentive provision

			Lease contributions include payment for improvements initially funded by the landlord. The improvement asset is capitalised and a provision for the amount of landlord contribution is recognised. The provision is released on a monthly basis over the term of the lease of the property.

		(ii)	Onerous contract provision

			The Group provides for future losses on long-term contracts where it is considered probable that the contract costs are likely to exceed revenues in future years. A provision is required for the present value of future losses. Estimating these future losses involves a number of assumptions about the achievement of contract performance targets and the likely levels of future cost escalation over time.

		(iii)	Make good provision

			The Group is required to restore the lease premises of various retail stores to their original condition at the end of the respective lease terms. Provisions for make good obligations are recognised when the group has a present legal or constructive obligation as a result of past events, it is probable that an outflow of resources will be required to settle the obligation and the amount can be reliably estimated. A provision is recognised for the present value of the estimated expenditure required to remove any leasehold improvements. These costs have been capitalised as part of the cost of leasehold improvements and are amortised over the lease term.

(s)

Earnings/(loss) per share

(i)

Basic earnings/(loss) per share

Basic earnings/(loss) per share is calculated by dividing:

	●	the profit/(loss) attributable to owners of the Company, excluding any costs of servicing equity other than ordinary shares
	●	by the weighted average number of ordinary shares outstanding during the financial year.

(ii) Diluted earnings/(loss) per share

Diluted earnings/(loss) per share adjusts the figures used in the determination of basic earnings per share to take into account:

		●	the after income tax effect of interest and other financing costs associated with dilutive potential ordinary shares, and
		●	the weighted average number of additional ordinary shares that would have been outstanding assuming the conversion of all dilutive potential ordinary shares.

	(t)	Borrowings

		Borrowings are initially recognised at fair value, net of transaction costs incurred. Borrowings are subsequently measured at amortised cost. Any difference between the proceeds (net of transaction costs) and the redemption amount is recognised in profit or loss over the period of the borrowings using the effective interest method. Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalised as a prepayment for liquidity services and amortised over the period of the facility to which it relates.

		Where the terms of a financial liability are renegotiated and the entity issues equity instruments to a creditor to extinguish all or part of the liability (debt for equity swap), a gain or loss is recognised in profit or loss, which is measured as the difference between the carrying amount of the financial liability and the fair value of the equity instruments issued.

		Borrowings are classified as current liabilities unless the Group has an unconditional right to defer settlement of the liability for at least 12 months after the reporting period.

Convertible Notes

(u)	Convertible Notes

	On issuance of the convertible notes, an assessment is made to determine whether the convertible notes contain an equity instrument or whether the whole instrument should be classified as a financial liability.

	When it is determined that the whole instrument is a financial liability and no equity instrument is identified (for example for foreign-currency-denominated convertibles notes), the conversion option is separated from the host debt and classified as a derivative liability. The carrying value of the host contract (a contract denominated in a foreign currency) at initial recognition is determined as the difference between the consideration received and the fair value of the embedded derivative. The host contract is subsequently measured at amortised cost using the effective interest rate method. The embedded derivative is subsequently measured at fair value at the end of each reporting period through the profit and loss. The convertible note and the derivative are presented as a single number on the balance sheet within interest-bearing loans and borrowings.

	When it is determined that the instrument contains an equity component based on the terms of the contract, on issuance of the convertible notes, the fair value of the liability component is determined using a market rate for an equivalent non-convertible bond. This amount is classified as a financial liability measured at amortised cost (net of transaction costs) until it is extinguished on conversion or redemption. The remainder of the proceeds is allocated to the conversion option that is recognised and included in equity. Transaction costs are deducted from equity, net of associated income tax. The carrying amount of the conversion option is not re-measured in subsequent years.

Foreign Currency Transactions and Balances

(v)	Share capital

	Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of ordinary shares are recognised as a deduction from equity, net of any tax effects.

	(w)	Foreign currency transactions and balances

		Each of the entities within the Group prepare their financial statements based on the currency of the primary economic environment in which the entity operates (functional currency). The consolidated financial statements are presented in New Zealand dollars which is the parent entity’s functional and presentation currency.

		Transaction and balances

		Foreign currency transactions are recorded at the spot rate on the date of the transaction.

		At the end of the reporting period:

	●	Foreign currency monetary items are translated using the closing foreign currency rate;
	●	Non-monetary items that are measured at historical cost are translated using the exchange rate at the date of the transaction; and
	●	Non-monetary items that are measured at fair value are translated using the rate at the date when fair value was determined.

		Group companies

		The financial results and position of foreign operations whose functional currency is different from the Group’s presentation currency are translated as follows:

		●	assets and liabilities are translated at period-end exchange rates prevailing at that reporting date;
		●	income and expenses are translated at average exchange rates for the period where the average rate approximates the rate at the date of the transaction; and
		●	retained earnings are translated at the exchange rates prevailing at the date of the transaction.

SummaryOfSignificantAccountingPoliciesLineItems [Line Items]

Going Concern

(a)

Going concern

●

Raising further capital of at least NZ$36 million and collecting it between March 2019 and July 2019;

●

Continue to receive support from creditors to delay payment until the company has adequate facilities to commence a repayment arrangement.

Basis for Consolidation

(b)

Basis for consolidation

Subsidiaries

Business Combinations

(c)

Business combinations

The fair value of identifiable assets and liabilities acquired are recognised in the consolidated financial statements at the acquisition date.

All acquisition-related costs are recognised as expenses in the periods in which the costs are incurred except for costs to issue debt or equity securities.

Income Tax

(d)

Income Tax

The tax expense/(benefit) recognised in the consolidated statements of profit or loss and other comprehensive income comprises of current income tax expense plus deferred tax expense/(benefit).

Deferred tax is not provided for the following:

●

Taxable temporary differences arising on the initial recognition of goodwill.

●

Leases

(e)

Leases

Lease payments for operating leases, where substantially all of the risks and benefits remain with the lessor, are charged as expenses on a straight-line basis over the life of the lease term.

Lease incentives under operating leases are recognised as a liability and amortised on a straight-line basis over the life of the lease term.

Brand Management, Administrative and Corporate Expenses

(f)

Revenue and other income

Sale of goods

Interest revenue

Interest is recognised using the effective interest method.

Dividend revenue

Dividends are recognised when the entity’s right to receive payment is established.

Rendering of services

Revenue from service transactions are recognised as services are performed.

Other income

Other income is recognised on an accruals basis when the Group is entitled to it.

(g)

Brand management, administrative and corporate expenses

Borrowing Costs

(h)

Borrowing costs

All other borrowing costs are recognised as an expense in the period in which they are incurred.

(i)

Inventories

Impairment of Non-financial Assets

(j)

Property, plant and equipment

Plant and equipment

Plant and equipment are measured using the cost model.

Depreciation

Property, plant and equipment, is depreciated on a straight-line basis over the assets useful life to the Group, commencing when the asset is ready for use.

The estimated useful lives used for each class of depreciable asset are shown below:

Fixed asset class		Useful life
Leasehold improvements		1 - 10 years
Plant, furniture, fittings and motor vehicles		3 - 7 years

Financial Instruments

(k)

Financial instruments

Financial instruments are recognised initially using trade date accounting, i.e. on the date that the Group becomes party to the contractual provisions of the instrument.

Financial Assets

Financial assets are divided into the following categories which are described in detail below:

	●	loans and receivables; and
	●	financial assets at fair value through profit or loss.

Loans and receivables

After initial recognition these are measured at amortised cost using the effective interest method, less provision for impairment. Any change in their value is recognised in profit or loss.

The Group’s trade and other receivables fall into this category of financial instruments.

The amount of the impairment is the difference between the net carrying amount and the present value of the future expected cash flows associated with the impaired receivable.

Financial assets at fair value through profit or loss

Financial assets at fair value through profit or loss include financial assets:

	●	acquired principally for the purpose of selling in the near future
	●	designated by the entity to be carried at fair value through profit or loss upon initial recognition or
	●	which are derivatives not qualifying for hedge accounting.

The Group has some derivatives which are classified as financial assets at fair value through profit or loss.

Assets included within this category are carried in the consolidated balance sheets at fair value with changes in fair value recognised in finance income or expenses in profit or loss.

Financial liabilities

The Group’s financial liabilities include borrowings, trade and other payables (including finance lease liabilities), which are measured at amortised cost using the effective interest rate method.

All of the Group’s derivative financial instruments that are not designated as hedging instruments are accounted for at fair value through profit or loss.

Impairment of financial assets

At the end of the reporting period the Group assesses whether there is any objective evidence that a financial asset or group of financial assets is impaired.

Financial assets at amortised cost

Impairment on loans and receivables is reduced through the use of an allowance accounts, all other impairment losses on financial assets at amortised cost are taken directly to the asset.

Subsequent recoveries of amounts previously written off are credited against other expenses in profit or loss.

(l)

Impairment of non-financial assets

At the end of each reporting period the Group determines whether there is an evidence of an impairment indicator for non-financial assets.

Where an indicator exists and regardless for goodwill, indefinite life intangible assets and intangible assets not yet available for use, the recoverable amount of the asset is estimated.

Where assets do not operate independently of other assets, the recoverable amount of the relevant cash-generating unit (CGU) is estimated.

Where the recoverable amount is less than the carrying amount, an impairment loss is recognised in profit or loss.

Reversal indicators are considered in subsequent periods for all assets which have suffered an impairment loss, except for goodwill.

(m)

Cash and cash equivalents

Trade Receivables

(n)

Trade receivables

Trade receivables are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method, less provision for impairment.

(o)

Trade and other payables

Intangibles

(p)

Intangibles

Goodwill

Goodwill is carried at cost less accumulated impairment losses. Goodwill is calculated as the excess of the sum of:

	i)	the consideration transferred;
	ii)	any non-controlling interest; and
	iii)	the acquisition date fair value of any previously held equity interest;

over the acquisition date fair value of net identifiable assets acquired in a business combination.

Patents and licences

Software

Software has a finite life and is carried at cost less any accumulated amortisation and impairment losses. It has an estimated useful life of between one and three years.

Brands

Brand assets relate to brands owned by the Group that have arisen on historical acquisitions. These assets were initially measured at fair value.

Amortisation

Amortisation methods, useful lives and residual values are reviewed at each reporting date and adjusted if appropriate.

Employee Benefits

(q)

Employee benefits

(i)

Short-term obligations

(ii)

Other long-term employee benefit obligations

Earnings/(Loss) Per Share

(r)

Provisions

Provisions recognised represent the best estimate of the amounts required to settle the obligation at the end of the reporting period.

(i)

Lease incentive provision

(ii)

Onerous contract provision

(iii)

Make good provision

(s)

Earnings/(loss) per share

(i) Basic earnings/(loss) per share

Basic earnings/(loss) per share is calculated by dividing:

	●	the profit/(loss) attributable to owners of the Company, excluding any costs of servicing equity other than ordinary shares
	●	by the weighted average number of ordinary shares outstanding during the financial year.

(ii) Diluted earnings/(loss) per share

Diluted earnings/(loss) per share adjusts the figures used in the determination of basic earnings per share to take into account:

	●	the after income tax effect of interest and other financing costs associated with dilutive potential ordinary shares, and
	●	the weighted average number of additional ordinary shares that would have been outstanding assuming the conversion of all dilutive potential ordinary shares.

(t)

Borrowings

Borrowings are classified as current liabilities unless the Group has an unconditional right to defer settlement of the liability for at least 12 months after the reporting period.

Convertible Notes

(u)

Convertible Notes

Foreign Currency Transactions and Balances

(v)

Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of ordinary shares are recognised as a deduction from equity, net of any tax effects.

(w)

Foreign currency transactions and balances

Transaction and balances

Foreign currency transactions are recorded at the spot rate on the date of the transaction.

At the end of the reporting period:

	●	Foreign currency monetary items are translated using the closing foreign currency rate;
	●	Non-monetary items that are measured at historical cost are translated using the exchange rate at the date of the transaction; and
	●	Non-monetary items that are measured at fair value are translated using the rate at the date when fair value was determined.

Group companies

The financial results and position of foreign operations whose functional currency is different from the Group’s presentation currency are translated as follows:

	●	assets and liabilities are translated at period-end exchange rates prevailing at that reporting date;
	●	income and expenses are translated at average exchange rates for the period where the average rate approximates the rate at the date of the transaction; and
	●	retained earnings are translated at the exchange rates prevailing at the date of the transaction.

Adoption of New and Revised Accounting Standards

(x)

Adoption of new and revised accounting standards

New Accounting Standards and Interpretations

(y)

New Accounting Standards and Interpretations

			Mandatory
			application
Title of			date/Date of
Standard	Nature of change	Impact	adoption by Group
IFRS 9 Financial Instruments	IFRS 9 addresses the classification, measurement and derecognition of financial assets and financial liabilities and introduces new rules for hedge accounting. In December 2014, the IASB made further changes to the classification and measurement rules and also introduced a new impairment model. These latest amendments now complete the new financial instruments standard.	Following the changes approved by the IASB in December 2014, the Group no longer expects any impact from the new classification, measurement and derecognition rules on the Group’s financial assets and financial liabilities. There will also be no impact on the Group’s accounting for financial liabilities, as the new requirements only affect the accounting for financial liabilities that are designated at fair value through profit or loss and the Group does not have any such liabilities. The new impairment model is an expected credit loss (ECL) model which may result in the earlier recognition of credit losses. The Group does not expect any material impact on transition to the new model.	Must be applied for financial years commencing on or after 1 January 2018. The Group will adopt IFRS 9 for the financial year beginning 1 February 2018.

IFRS 15 Revenue from Contracts with Customers	The IASB has issued a new standard for the recognition of revenue. This will replace IAS 18 which covers contracts for goods and services and IAS 11 which covers construction contracts. The new standard is based on the principle that revenue is recognised when control of a good or service transfers to a customer so the notion of control replaces the existing notion of risks and rewards. The standard permits a modified retrospective approach for the adoption. Under this approach entities will recognise transitional adjustments in retained earnings on the date of initial application (e.g. 1 February 2018), i.e. without restating the comparative period. The new rules are applied to contracts that are not completed as of the date of initial application.	Management is currently assessing the impact of the new Standard Management have yet to quantify the potential impact of any adjustments.	Mandatory for financial years commencing on or after 1 January 2018. Expected date of adoption by the Group: 1 February 2018.

IFRS 16 Leases

The IASB has issued a new standard for leases. This will replace IAS 17.

The new standard will require that we record a liability and a related asset on the balance sheet for our leased facilities.

Management have yet to quantify the potential impact of any adjustments.

Mandatory for financial years commencing on or after 1 January 2019.

Expected date of adoption by the Group: 1 February 2019.

IFRC 23 Uncertainty over Income Tax Treatments (IFRIC 23)

The Company is currently evaluating the impact of adopting this standard on the consolidated financial statements.

IFRIC 23 is effective for annual periods beginning on or after January 1, 2019, with earlier application permitted.

Operating Segments

(z)

Operating segments

Basis of Preparation of Half - Year Report (Tables)

6 Months Ended

Jul. 31, 2018

Basis Of Preparation Of Half - Year Report

Disclosure of Detailed Information About Estimated Useful Lives of Property, Plant and Equipment

The estimated useful lives used for each class of depreciable asset are shown below:

Fixed asset class	Useful life

Leasehold improvements	1 - 10 years
Plant, furniture, fittings and motor vehicles	3 - 7 years

Summary of Significant Accounting Policies (Tables) (Bendon Limited)

6 Months Ended

12 Months Ended

Jul. 31, 2018

Jan. 31, 2018

SummaryOfSignificantAccountingPoliciesLineItems [Line Items]

Disclosure of Detailed Information About Useful Lives Property Plant and Equipment Explanatory

The estimated useful lives used for each class of depreciable asset are shown below:

Fixed asset class	Useful life

Leasehold improvements	1 - 10 years
Plant, furniture, fittings and motor vehicles	3 - 7 years

SummaryOfSignificantAccountingPoliciesLineItems [Line Items]

Disclosure of Detailed Information About Useful Lives Property Plant and Equipment Explanatory

The estimated useful lives used for each class of depreciable asset are shown below:

Fixed asset class		Useful life
Leasehold improvements		1 - 10 years
Plant, furniture, fittings and motor vehicles		3 - 7 years

Revenue and Other Income (Tables) (Bendon Limited)

12 Months Ended

Jan. 31, 2018

RevenueAndOtherIncomeLineItems [Line Items]

Disclosure of Detailed Information About Revenue from Continuing Operations

Revenue from continuing operations

				For the 7
	For the Year			Months			For the Year			For the Year
	Ended 31			Ended 31			Ended 30			Ended 30
	January 2018			January 2017			June 2016			June 2015
	NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s

Gross revenue	145,452			104,007			163,481			149,403
Rebates		(14,064	)		(7,723	)		(12,481	)		(10,565	)
		131,388			96,284			151,000			138,838

Sale of goods
- Retail		53,150			34,460			58,837			56,494
- Wholesale		45,901			43,379			77,729			76,570
- Online		32,234			18,157			6,724			5,750
		131,285			95,996			143,290			138,814

Services		-			-			7,702			-
Other income		103			288			8			24
		131,388			96,284			151,000			138,838

Profit and Loss Information (Tables)

6 Months Ended

Jul. 31, 2018

Profit And Loss Information

Disclosure of Detailed Information About Revenue from Continuing Operations

	6 months to 31 July 2018 NZ $000’s			6 months to 31 July 2017 NZ $000’s

Gross revenue		61,282			68,445
Rebates		(4,532	)		(8,658	)
		56,750			59,787

Sale of goods
-Retail		24,425			23,427
-Wholesale		18,077			23,119
-Online		14,248			13,139
		56,750			59,685

Other income		-			102
		56,750			59,787

Disclosure of Detailed Information About Profit Loss from Operating Activities

The loss for the half year was derived after charging / (crediting) the following items that are unusual and of significance because of their size, nature and incidence:

Finance Costs
- Interest expense on external borrowings	(1,353	)	(1,879	)
- Interest expense on shareholder loans	(1,062	)	(1,292	)
- Interest expense on convertible notes	186		(1,605	)
- Amortisation of loan set up costs	(225	)	(251	)
	(2,454	)	(5,027	)

Other gains/(losses)
- Fair value gain on foreign exchange contracts	2,306		1,600
- Net foreign exchange gains/(losses)	1,228		(2,534	)
- Impairment of goodwill	(3,399	)	-
- Impairment of brand	(696	)	-
- Impairment of software	(64	)	-
	(625	)	(934	)

Brand transition, restructure and transaction expenses
- Brand transition expenses	(199	)	-
- Onerous contracts	-		265
- Restructure expenses	(526	)	(43	)
- Transaction expenses	(4,432	)	(1,334	)
	(5,157	)	(1,112	)

Loss for the Period (Tables) (Bendon Limited)

6 Months Ended

12 Months Ended

Jul. 31, 2018

Jan. 31, 2018

ProfitLossFromOperatingActivitiesprofitLossFromOperatingActivitiesLineItems [Line Items]

Disclosure of Detailed Information About Profit Loss from Operating Activities

The loss for the half year was derived after charging / (crediting) the following items that are unusual and of significance because of their size, nature and incidence:

Finance Costs
- Interest expense on external borrowings	(1,353	)	(1,879	)
- Interest expense on shareholder loans	(1,062	)	(1,292	)
- Interest expense on convertible notes	186		(1,605	)
- Amortisation of loan set up costs	(225	)	(251	)
	(2,454	)	(5,027	)

Other gains/(losses)
- Fair value gain on foreign exchange contracts	2,306		1,600
- Net foreign exchange gains/(losses)	1,228		(2,534	)
- Impairment of goodwill	(3,399	)	-
- Impairment of brand	(696	)	-
- Impairment of software	(64	)	-
	(625	)	(934	)

Brand transition, restructure and transaction expenses
- Brand transition expenses	(199	)	-
- Onerous contracts	-		265
- Restructure expenses	(526	)	(43	)
- Transaction expenses	(4,432	)	(1,334	)
	(5,157	)	(1,112	)

ProfitLossFromOperatingActivitiesprofitLossFromOperatingActivitiesLineItems [Line Items]

Disclosure of Detailed Information About Profit Loss from Operating Activities

The loss for the period was derived after charging / (crediting) the following items that are unusual and of significance because of their size, nature and incidence:

				For the 7
	For the Year			Months		For the Year			For the Year
	Ended 31			Ended 31		Ended 30			Ended 30
	January 2018			January 2017		June 2016			June 2015
	NZ$000’s			NZ$000’s		NZ$000’s			NZ$000’s

Finance Costs
- Interest expense on external borrowings		5,431			2,923		3,140			2,476
- Interest expense on shareholder loans		2,807			3,040		7,042			3,192
- Interest expense on finance lease		-			-		-			50
- Amortisation on loan set up costs		553			275		227			152
		8,791			6,238		10,409			5,870

Other (gains)/losses
- Fair value (gain)/loss on foreign exchange contracts		(502	)		2,135		7,660			(6,330	)
- Net foreign exchange(gains)/losses		(255	)		1,171		(5,237	)		1,630
		(757	)		3,306		2,423			(4,700	)

For the 7

For the Year

Months

For the Year

Ended 31

Ended 30

January 2018

January 2017

June 2016

June 2015

NZ$000’s

Brand transition, restructure and transaction expenses

- Brand transition expenses

884

10,160

- Onerous contracts

(265

)

1,166

789

329

- Restructure expenses

215

103

559

111

- Transaction expenses

3,322

1,582

3,272

1,321

2,232

12,182

Disclosure of Detailed Information About Profit Loss from Operating Activities in Connection with Specific Expenses

The loss for the period includes the following specific expenses:

				For the 7
	For the Year			Months			For the Year			For the Year
	Ended 31			Ended 31			Ended 30			Ended 30
	January 2018			January 2017			June 2016			June 2015
	NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s

Employee benefits expense:
- Salaries and wages		33,613			19,917			33,666			31,266
- Defined contribution expenses		545			1,022			1,588			1,466
		34,158			20,939			35,254			32,732

Depreciation		2,724			1,664			2,966			3,359
Amortisation		306			178			323			891
Impairment loss		1,914			292			2,157			-
		4,944			2,134			5,446			4,250

Rental expense on operating leases:
- Lease payments		10,807			6,485			11,034			10,488
- Sublease payments received		(483	)		(354	)		(567	)		(475	)
		10,324			6,131			10,467			10,013

Income Tax Expense/(Benefit) (Tables) (Bendon Limited) - Bendon Limited [Member]

12 Months Ended

Jan. 31, 2018

Statement Line Items [Line Items]

Disclosure of Detailed Information About Major Components of Tax Expense Income

(a) The major components of tax expense/(benefit) comprise:

				For the 7
	For the Year			Months		For the Year			For the Year
	Ended 31			Ended 31		Ended 30			Ended 30
	January 2018			January 2017		June 2016			June 2015
	NZ$000’s			NZ$000’s		NZ$000’s			NZ$000’s

Current tax
Current tax on profits for the period		537			807		301			313
Adjustments for current tax of prior periods		(477	)		58		(344	)		412
Total current tax expense/(benefit)		60			865		(43	)		725

Deferred tax expense/(benefit)
Decrease/(increase) in deferred tax assets (note 25)		-			-		5,589			(1,999	)
Income tax expense/(benefit) for continuing operations		60			865		5,546			(1,274	)

Disclosure of Detailed Information About Reconciliation of Accounting Profit Multiplied by Applicable Tax Rates

(b) Reconciliation of income tax to accounting profit:

				For the 7
	For the Year			Months			For the Year			For the Year
	Ended 31			Ended 31			Ended 30			Ended 30
	January 2018			January 2017			June 2016			June 2015
	NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s

Loss before income tax		(37,533	)		(15,114	)		(15,200	)		(14,379	)
Tax at New Zealand tax rate of 28% (2017: 28%, 2016: 28%, 2015: 28%)		(10,509	)		(4,232	)		(4,256	)		(4,026	)

Tax effect of:
- permanent differences (including impairment expense)		(105	)		(6	)		757			23
- adjustments in respect of current income tax of previous years		(449	)		41			(237	)		378
- effects of different tax rates of subsidiaries operating in other jurisdictions		(30	)		(15	)		(42	)		(382	)
- deferred tax assets relating to prior periods no longer recognised (note 25)		-			-			5,589			-
- deferred tax assets relating to the current year not brought to account		11,150			5,119			3,934			2,630
- other		3			(42	)		(199	)		103
Income tax expense/(benefit)		60			865			5,546			(1,274	)

Disclosure of Detailed Information About Tax Losses Not Recognised

For the 7

For the Year

Months

For the Year

Ended 31

Ended 30

January 2018

January 2017

June 2016

June 2015

NZ$000’s

Unused tax losses for which no deferred tax asset has been recognised

87,455

43,269

23,765

10,236

Potential tax benefit at 28%

24,487

12,115

6,654

2,866

Disclosure of Detailed Information About Temporary Differences Not Recognised

(d) Temporary differences not recognised

For the 7

For the Year

Months

For the Year

Ended 31

Ended 30

January 2018

January 2017

June 2016

June 2015

NZ$000’s

Temporary differences for which no deferred tax asset has been recognised

14,661

18,703

19,924

Potential tax benefit at 28%

4,105

5,237

5,579

Operating Segment (Tables)

6 Months Ended

Jul. 31, 2018

Operating Segments

Disclosure of Reconciliation of Segment Revenue to Profit or Loss and Other Comprehensive Income

Reconciliation of segment revenue to consolidated statements of profit or loss and other comprehensive income:

	6 months to 31 July 2018 NZ $000’s			6 months to 31 July 2017 NZ $000’s

Total segment revenue		65,736			71,095
Intersegment eliminations		(8,986	)		(11,308	)
Total revenue		56,750			59,787

Disclosure of Reconciliation of Segment EBITDA to Profit or Loss and Other Comprehensive Income

The Board meets on a monthly basis to assess the performance of each segment, net operating profit does not include non-operating revenue and expenses such as dividends, fair value gains and losses.

	6 months to 31 July 2018 NZ $000’s			6 months to 31 July 2017 NZ $000’s

Segment EBITDA		(15,436	)		(16,285	)
Income tax (expense)/benefit		411			(174	)
Other revenue					-
Any other reconciling items		(11,069	)		(2,754	)
Total net loss after tax		(26,094	)		(19,213	)

Disclosure of Detailed Information About Geographical Information

In presenting information on the basis of geographical segments, segment revenue is based on the geographical location of customers whereas segment assets are based on the location of the assets.

	6 months to 31 July 2018 NZ $000’s		6 months to 31 July 2017 NZ $000’s

New Zealand		20,984		19,940
Australia		17,570		16,197
United States		14,383		15,496
Europe		3,813		8,154
		56,750		59,787

Disclosure of Detailed Information About Segment Performance

	NZ Retail NZ$000’s			AU Retail NZ$000’s			NZ Wholesale NZ$000’s			AU Wholesale NZ$000’s			US Wholesale NZ$000’s			EU Wholesale NZ$000’s			e-commerce NZ$000’s			Unallocated NZ$000’s			Total
For the 6 months ended 31 July 2018
Revenue from external customers		15,571			8,758			4,556			6,757			3,047			3,813			14,248			-			56,750
Service income		-			-			-			-			-			-			-			-			-
		15,571			8,758			4,556			6,757			3,047			3,813			14,248			-			56,750

Cost of sales		(7,612	)		(4,246	)		(3,695	)		(5,246	)		(2,923	)		(3,007	)		(10,234	)		(2,109	)		(39,072	)
Gross margin		7,959			4,512			861			1,511			124			806			4,014			(2,109	)		17,678
Other segment expenses*		(6,856	)		(5,644	)		(672	)		(1,726	)		(1,187	)		(1,166	)		(5,375	)		-			(22,626	)
Unallocated expenses
Administrative expenses		-			-			-			-			-			-			-			(661	)		(661	)
Corporate expenses		-			-			-			-			-			-			-			(10,672	)		(10,672	)
Other foreign exchange gain/loss		-			-			-			-			-			-			-			845			845
EBITDA		1,103			(1,132	)		189			(215	)		(1,063	)		(360	)		(1,361	)		(12,597	)		(15,436	)
Brand transition, restructure and transaction expenses		-			-			-			-			-			-			-			(5,157	)		(5,157	)
Finance expense		-			-			-			-			-			-			-			(2,454	)		(2,454	)
Impairment expense		-			-			-			-			-			-			-			(4,182	)		(4,182	)
Depreciation and amortisation		-			-			-			-			-			-			-			(1,190	)		(1,190	)
Fair value (gain)/loss on foreign exchange contracts		-			-			-			-			-			-			-			2,306			2,306
Unrealised foreign exchange gain/(loss)		-			-			-			-			-			-			-			383			383
Fair value gain/(loss) on Convertible Note derivative		-			-			-			-			-			-			-			(775	)		(775	)
Loss before income tax expense		1,103			(1,132	)		189			(215	)		(1,063	)		(360	)		(1,361	)		(23,666	)		(26,505	)
Income tax expense		-			-			-			-			-			-			-			411			411
Loss after income tax expense		1,103			(1,132	)		189			(215	)		(1,063	)		(360	)		(1,361	)		(23,255	)		(26,094	)

	NZ Retail NZ$000’s			AU Retail NZ$000’s			NZ Wholesale NZ$000’s			AU Wholesale NZ$000’s			US Wholesale NZ$000’s			EU Wholesale NZ$000’s			e-commerce NZ$000’s			Unallocated NZ$000’s			Total
For the 6 months ended 31 July 2017
Revenue from external customers		15,072			8,030			4,092			6,497			4,803			8,154			13,139			-			59,787
		15,072			8,030			4,092			6,497			4,803			8,154			13,139			-			59,787

Cost of sales		(7,027	)		(4,085	)		(3,250	)		(6,294	)		(4,092	)		(6,308	)		(9,152	)		-			(40,207	)
Gross margin		8,045			3,946			842			203			711			1,846			3,987			-			19,580
Other segment expenses*		(6,462	)		(5,335	)		(449	)		(1,997	)		(1,507	)		(1,504	)		(5,407	)		-			(22,661	)
Unallocated expenses
Administrative expenses		-			-			-			-			-			-			-			(320	)		(320	)
Corporate expenses		-			-			-			-			-			-			-			(10,241	)		(10,241	)
Other foreign exchange gain/loss		-			-			-			-			-			-			-			(2,643	)		(2,643	)
EBITDA		1,583			(1,389	)		393			(1,794	)		(796	)		342			(1,420	)		(13,204	)		(16,285	)
Brand transition, restructure and transaction expenses		-			-			-			-			-			-			-			(1,112	)		(1,112	)
Finance expense		-			-			-			-			-			-			-			(4,776	)		(4,776	)
Depreciation and amortisation expense		-			-			-			-			-			-			-			(1,821	)		(1,821	)
Fair value (gain)/loss on foreign exchange contracts		-			-			-			-			-			-			-			(1,600	)		(1,600	)
Unrealised foreign exchange (gain)/loss		-			-			-			-			-			-			-			3,309			3,309
Fair value (gain)/loss on Convertible Note derivative		-			-			-			-			-			-			-			3,246			3,246
Loss before income tax expense		1,583			(1,389	)		393			(1,794	)		(796	)		342			(1,420	)		(15,958	)		(19,039	)
Income tax expense		-			-			-			-			-			-			-			(174	)		(174	)
Loss after income tax expense		1,583			(1,389	)		393			(1,794	)		(796	)		342			(1,420	)		(16,132	)		(19,213	)

* Other segment expenses relate to brand management expenses and some corporate expenses.

Operating Segments (Tables) (Bendon Limited)

6 Months Ended

12 Months Ended

Jul. 31, 2018

Jan. 31, 2018

DisclosureOfOperatingSegmentLineItems [Line Items]

Disclosure of Reconciliation of Segment Revenue to Profit or Loss and Other Comprehensive Income

Reconciliation of segment revenue to consolidated statements of profit or loss and other comprehensive income:

	6 months to 31 July 2018 NZ $000’s			6 months to 31 July 2017 NZ $000’s

Total segment revenue		65,736			71,095
Intersegment eliminations		(8,986	)		(11,308	)
Total revenue		56,750			59,787

Disclosure of Reconciliation of Segment EBITDA to Profit or Loss and Other Comprehensive Income

The Board meets on a monthly basis to assess the performance of each segment, net operating profit does not include non-operating revenue and expenses such as dividends, fair value gains and losses.

	6 months to 31 July 2018 NZ $000’s			6 months to 31 July 2017 NZ $000’s

Segment EBITDA		(15,436	)		(16,285	)
Income tax (expense)/benefit		411			(174	)
Other revenue					-
Any other reconciling items		(11,069	)		(2,754	)
Total net loss after tax		(26,094	)		(19,213	)

Disclosure of Detailed Information About Geographical Information

In presenting information on the basis of geographical segments, segment revenue is based on the geographical location of customers whereas segment assets are based on the location of the assets.

	6 months to 31 July 2018 NZ $000’s		6 months to 31 July 2017 NZ $000’s

New Zealand		20,984		19,940
Australia		17,570		16,197
United States		14,383		15,496
Europe		3,813		8,154
		56,750		59,787

Disclosure of Detailed Information About Segment Performance

	NZ Retail NZ$000’s			AU Retail NZ$000’s			NZ Wholesale NZ$000’s			AU Wholesale NZ$000’s			US Wholesale NZ$000’s			EU Wholesale NZ$000’s			e-commerce NZ$000’s			Unallocated NZ$000’s			Total
For the 6 months ended 31 July 2018
Revenue from external customers		15,571			8,758			4,556			6,757			3,047			3,813			14,248			-			56,750
Service income		-			-			-			-			-			-			-			-			-
		15,571			8,758			4,556			6,757			3,047			3,813			14,248			-			56,750

Cost of sales		(7,612	)		(4,246	)		(3,695	)		(5,246	)		(2,923	)		(3,007	)		(10,234	)		(2,109	)		(39,072	)
Gross margin		7,959			4,512			861			1,511			124			806			4,014			(2,109	)		17,678
Other segment expenses*		(6,856	)		(5,644	)		(672	)		(1,726	)		(1,187	)		(1,166	)		(5,375	)		-			(22,626	)
Unallocated expenses
Administrative expenses		-			-			-			-			-			-			-			(661	)		(661	)
Corporate expenses		-			-			-			-			-			-			-			(10,672	)		(10,672	)
Other foreign exchange gain/loss		-			-			-			-			-			-			-			845			845
EBITDA		1,103			(1,132	)		189			(215	)		(1,063	)		(360	)		(1,361	)		(12,597	)		(15,436	)
Brand transition, restructure and transaction expenses		-			-			-			-			-			-			-			(5,157	)		(5,157	)
Finance expense		-			-			-			-			-			-			-			(2,454	)		(2,454	)
Impairment expense		-			-			-			-			-			-			-			(4,182	)		(4,182	)
Depreciation and amortisation		-			-			-			-			-			-			-			(1,190	)		(1,190	)
Fair value (gain)/loss on foreign exchange contracts		-			-			-			-			-			-			-			2,306			2,306
Unrealised foreign exchange gain/(loss)		-			-			-			-			-			-			-			383			383
Fair value gain/(loss) on Convertible Note derivative		-			-			-			-			-			-			-			(775	)		(775	)
Loss before income tax expense		1,103			(1,132	)		189			(215	)		(1,063	)		(360	)		(1,361	)		(23,666	)		(26,505	)
Income tax expense		-			-			-			-			-			-			-			411			411
Loss after income tax expense		1,103			(1,132	)		189			(215	)		(1,063	)		(360	)		(1,361	)		(23,255	)		(26,094	)

	NZ Retail NZ$000’s			AU Retail NZ$000’s			NZ Wholesale NZ$000’s			AU Wholesale NZ$000’s			US Wholesale NZ$000’s			EU Wholesale NZ$000’s			e-commerce NZ$000’s			Unallocated NZ$000’s			Total
For the 6 months ended 31 July 2017
Revenue from external customers		15,072			8,030			4,092			6,497			4,803			8,154			13,139			-			59,787
		15,072			8,030			4,092			6,497			4,803			8,154			13,139			-			59,787

Cost of sales		(7,027	)		(4,085	)		(3,250	)		(6,294	)		(4,092	)		(6,308	)		(9,152	)		-			(40,207	)
Gross margin		8,045			3,946			842			203			711			1,846			3,987			-			19,580
Other segment expenses*		(6,462	)		(5,335	)		(449	)		(1,997	)		(1,507	)		(1,504	)		(5,407	)		-			(22,661	)
Unallocated expenses
Administrative expenses		-			-			-			-			-			-			-			(320	)		(320	)
Corporate expenses		-			-			-			-			-			-			-			(10,241	)		(10,241	)
Other foreign exchange gain/loss		-			-			-			-			-			-			-			(2,643	)		(2,643	)
EBITDA		1,583			(1,389	)		393			(1,794	)		(796	)		342			(1,420	)		(13,204	)		(16,285	)
Brand transition, restructure and transaction expenses		-			-			-			-			-			-			-			(1,112	)		(1,112	)
Finance expense		-			-			-			-			-			-			-			(4,776	)		(4,776	)
Depreciation and amortisation expense		-			-			-			-			-			-			-			(1,821	)		(1,821	)
Fair value (gain)/loss on foreign exchange contracts		-			-			-			-			-			-			-			(1,600	)		(1,600	)
Unrealised foreign exchange (gain)/loss		-			-			-			-			-			-			-			3,309			3,309
Fair value (gain)/loss on Convertible Note derivative		-			-			-			-			-			-			-			3,246			3,246
Loss before income tax expense		1,583			(1,389	)		393			(1,794	)		(796	)		342			(1,420	)		(15,958	)		(19,039	)
Income tax expense		-			-			-			-			-			-			-			(174	)		(174	)
Loss after income tax expense		1,583			(1,389	)		393			(1,794	)		(796	)		342			(1,420	)		(16,132	)		(19,213	)

* Other segment expenses relate to brand management expenses and some corporate expenses.

DisclosureOfOperatingSegmentLineItems [Line Items]

Disclosure of Reconciliation of Segment Revenue to Profit or Loss and Other Comprehensive Income

Reconciliation of segment revenue to consolidated statements of profit or loss and other comprehensive income:

	For the Year			For the 7 Months			For the Year			For the Year
	Ended 31			Ended 31			Ended 30			Ended 30
	January 2018			January 2017			June 2016			June 2015
	NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s
Total segment revenue		156,311			113,031			176,145			166,553
Intersegment eliminations		(24,923	)		(16,747	)		(32,855	)		(27,739	)
Other revenue		-			-			7,710			24
Total revenue		131,388			96,284			151,000			138,838

Disclosure of Reconciliation of Segment EBITDA to Profit or Loss and Other Comprehensive Income

The Board meets on a monthly basis to assess the performance of each segment, net operating profit does not include non-operating revenue and expenses such as dividends, fair value gains and losses.

	For the Year			For the 7 Months			For the Year			For the Year
	Ended 31			Ended 31			Ended 30			Ended 30
	January 2018			January 2017			June 2016			June 2015
	NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s
Segment EBITDA		(24,053	)		(2,126	)		10,470			3,420
Income tax (expense)/benefit		(60	)		(865	)		(5,546	)		1,274
Other revenue		-			-			7,710			24
Any other reconciling items		(13,480	)		(12,988	)		(33,380	)		(17,823	)
Total net loss after tax		(37,593	)		(15,979	)		(20,746	)		(13,105	)

Disclosure of Detailed Information About Geographical Information

In presenting information on the basis of geographical segments, segment revenue is based on the geographical location of customers whereas segment assets are based on the location of the assets.

	For the Year		For the 7 Months		For the Year		For the Year
	Ended 31		Ended 31		Ended 30		Ended 30
	January 2018		January 2017		June 2016		June 2015
	NZ$000’s		NZ$000’s		NZ$000’s		NZ$000’s
New Zealand		46,665		30,676		62,109		54,834
Australia		38,208		32,913		53,193		51,997
United States		32,323		23,146		19,167		14,435
Europe		14,192		9,549		16,531		17,572
		131,388		96,284		151,000		138,838

Disclosure of Detailed Information About Segment Performance

	NZ Retail			AU Retail			NZ Wholesale			AU Wholesale			US Wholesale			EU Wholesale			e-commerce			Unallocated			Total
For the year ended 31 January 2018	NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s
Revenue from external customers		34,269			18,236			10,453			15,512			6,390			14,192			32,234			-			131,286
Service income		-			-			-			-			-			-			-			102			102
		34,269			18,236			10,453			15,512			6,390			14,192			32,234			102			131,388
Cost of sales		(16,488	)		(9,457	)		(8,213	)		(12,545	)		(6,438	)		(10,221	)		(20,974	)		(3,123	)		(87,459	)
Gross margin		17,781			8,779			2,240			2,967			(48	)		3,971			11,260			(3,021	)		43,929
Other segment expenses*		(13,451	)		(11,329	)		(1,068	)		(3,781	)		(3,301	)		(2,904	)		(11,520	)		-			(47,354	)
Unallocated expenses
Administrative expenses		-			-			-			-			-			-			-			(1,101	)		(1,101	)
Corporate expenses		-			-			-			-			-			-			-			(19,150	)		(19,150	)
Other foreign exchange gain/loss		-			-			-			-			-			-			-			(377	)		(377	)
EBITDA		4,330			(2,550	)		1,172			(814	)		(3,349	)		1,067			(260	)		(23,649	)		(24,053	)
Brand transition, restructure and transaction expenses		-			-			-			-			-			-			-			(3,272	)		(3,272	)
Finance expense		-			-			-			-			-			-			-			(8,791	)		(8,791	)
Impairment expense		-			-			-			-			-			-			-			(1,914	)		(1,914	)
Depreciation and amortisation		-			-			-			-			-			-			-			(3,030	)		(3,030	)
Fair value gain/(loss) on foreign exchange contracts		-			-			-			-			-			-			-			(502	)		(502	)
Unrealised foreign exchange gain/(loss)		-			-			-			-			-			-			-			1,636			1,636
Fair value gain/(loss) on Convertible Notes derivative		-			-			-			-			-			-			-			2,393			2,393
Loss before income tax expense		4,330			(2,550	)		1,172			(814	)		(3,349	)		1,067			(260	)		(37,129	)		(37,533	)
Income tax expense		-			-			-			-			-			-			-			(60	)		(60	)
Loss after income tax expense		4,330			(2,550	)		1,172			(814	)		(3,349	)		1,067			(260	)		(37,189	)		(37,593	)

	NZ Retail			AU Retail			NZ Wholesale			AU Wholesale			US Wholesale			EU Wholesale			e-commerce			Unallocated			Total
For the 7 months ended 31 January 2017	NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s
Revenue from external customers		21,953			12,053			7,484			18,091			9,015			9,548			18,140			-			96,284
		21,953			12,053			7,484			18,091			9,015			9,548			18,140			-			96,284
Cost of sales		(9,707	)		(5,592	)		(4,961	)		(11,431	)		(6,934	)		(6,277	)		(11,902	)		(340	)		(57,144	)
Gross margin		12,246			6,461			2,523			6,660			2,081			3,271			6,238			(340	)		39,140
Other segment expenses*		(7,480	)		(6,196	)		(475	)		(2,089	)		(2,065	)		(2,013	)		(3,654	)		(8,068	)		(32,040	)
Unallocated expenses
Administrative expenses		-			-			-			-			-			-			-			(541	)		(541	)
Corporate expenses		-			-			-			-			-			-			-			(8,082	)		(8,082	)
Other foreign exchange gain/loss		-			-			-			-			-			-			-			(603	)		(603	)
EBITDA		4,766			265			2,048			4,571			16			1,258			2,584			(17,634	)		(2,126	)
Brand transition, restructure and transaction expenses		-			-			-			-			-			-			-			(1,321	)		(1,321	)
Finance expense		-			-			-			-			-			-			-			(6,238	)		(6,238	)
Impairment expense		-			(281	)		-			-			-			-			-			(11	)		(292	)
Depreciation and amortisation expense		-			-			-			-			-			-			-			(1,842	)		(1,842	)
Fair value gain/(loss) on foreign exchange contracts		-			-			-			-			-			-			-			(2,135	)		(2,135	)
Unrealised foreign exchange (gain)/loss		-			-			-			-			-			-			-			(568	)		(568	)
Fair value (gain)/loss on Convertible Note derivative		-			-			-			-			-			-			-			(592	)		(592	)
Loss before income tax expense		4,766			(16	)		2,048			4,571			16			1,258			2,584			(30,341	)		(15,114	)
Income tax expense		-			-			-			-			-			-			-			(865	)		(865	)
Loss after income tax expense		4,766			(16	)		2,048			4,571			16			1,258			2,584			(31,206	)		(15,979	)

* Other segment expenses relate to brand management expenses and some corporate expenses.

	NZ			AU			NZ			AU			US			EU
For the year ended 30	Retail			Retail			Wholesale			Wholesale			Wholesale			Wholesale			e-commerce			Unallocated			Total
June 2016	NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s
Revenue from external customers		37,389			20,680			15,071			28,021			18,876			16,531			6,722			-			143,290
Service income		-			-			-			-			-			-			-			7,702			7,702
Other income		-			-			-			-			-			-			-			8			8
		37,389			20,680			15,071			28,021			18,876			16,531			6,722			7,710			151,000
Cost of sales		(16,053	)		(8,930	)		(10,721	)		(18,056	)		(14,540	)		(11,658	)		(3,582	)		15			(83,525	)
Gross margin		21,336			11,750			4,350			9,965			4,336			4,873			3,140			7,725			67,475
Other segment expenses*		(12,263	)		(9,835	)		(709	)		(3,520	)		(2,817	)		(3,204	)		(2,039	)		(13,975	)		(48,362	)
Unallocated expenses
Administrative expenses		-			-			-			-			-			-			-			(801	)		(801	)
Corporate expenses		-			-			-			-			-			-			-			(13,002	)		(13,002	)
Other foreign exchange gain/loss		-			-			-			-			-			-			-			5,160			5,160
EBITDA		9,073			1,915			3,641			6,445			1,519			1,669			1,101			(14,893	)		10,470
Brand transition, restructure and transaction expenses		-			-			-			-			-			-			-			(2,232	)		(2,232	)
Finance expense		-			-			-			-			-			-			-			(10,409	)		(10,409	)
Impairment expense		-			-			-			-			-			-			-			-			-
Depreciation and amortisation expense		-			-			-			(2,157	)		-			-			-			(3,289	)		(5,446	)
Fair value gain/(loss) on foreign exchange contracts		-			-			-			-			-			-			-			(7,660	)		(7,660	)
Unrealised foreign exchange (gain)/loss		-			-			-			-			-			-			-			77			77
Loss before income tax expense		9,073			1,915			3,641			4,288			1,519			1,669			1,101			(38,406	)		(15,200	)
Income tax expense		-			-			-			-			-			-			-			(5,546	)		(5,546	)
Loss after income tax expense		9,073			1,915			3,641			4,288			1,519			1,669			1,101			(43,952	)		(20,746	)

* Other segment expenses relate to brand management expenses and some corporate expenses.

	NZ			AU			NZ			AU			US			EU
For the year ended 30	Retail			Retail			Wholesale			Wholesale			Wholesale			Wholesale			e-commerce			Unallocated			Total
June 2015	NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s
Revenue from external customers		37,089			18,491			16,333			29,817			13,853			17,548			5,683			-			138,814
		-			-			-			-			-			-			-			24			24
		37,089			18,491			16,333			29,817			13,853			17,548			5,683			24			138,838
Cost of sales		(16,270	)		(8,066	)		(10,978	)		(18,461	)		(10,929	)		(11,258	)		(3,072	)		3			(79,031	)
Gross margin		20,819			10,425			5,355			11,356			2,924			6,290			2,611			27			59,807
Other segment expenses*		(11,885	)		(7,624	)		(1,787	)		(2,449	)		(2,536	)		(3,266	)		(1,991	)		(10,665	)		(42,203	)
Unallocated expenses
Administrative expenses		-			-			-			-			-			-			-			(441	)		(441	)
Corporate expenses		-			-			-			-			-			-			-			(13,940	)		(13,940	)
Other foreign exchange gain/loss		-			-			-			-			-			-			-			197			197
EBITDA		8,934			2,801			3,568			8,907			388			3,024			620			(24,822	)		3,420
Brand transition, restructure and transaction expenses		-			-			-			-			-			-			-			(12,182	)		(12,182	)
Finance expense		-			-			-			-			-			-			-			(5,870	)		(5,870	)
Depreciation and amortisation expense		-			-			-			-			-			-			-			(4,250	)		(4,250	)
Fair value gain/(loss) on foreign exchange contracts		-			-			-			-			-			-			-			6,330			6,330
Unrealised foreign exchange (gain)/loss		-			-			-			-			-			-			-			(1,827	)		(1,827	)
Loss before income tax expense		8,934			2,801			3,568			8,907			388			3,024			620			(42,621	)		(14,379	)
Income tax expense		-			-			-			-			-			-			-			1,274			1,274
Loss after income tax expense		8,934			2,801			3,568			8,907			388			3,024			620			(41,347	)		(13,105	)

* Other segment expenses relate to brand management expenses and some corporate expenses.

Cash and Cash Equivalents (Tables) (Bendon Limited)

12 Months Ended

Jan. 31, 2018

CashAndCashEquivalentLineItems [Line Items]

Schedule of Cash and Cash Equivalents

31 January

30 June

2018

2017

2016

2015

NZ$000’s

Cash on hand

Cash at bank

10,685

2,596

4,146

1,194

10,739

2,644

4,193

1,246

Trade and Other Receivables (Tables) (Bendon Limited) - Bendon Limited [Member]

12 Months Ended

Jan. 31, 2018

TradeAndOtherReceivablesLineItems [Line Items]

Schedule of Trade and Other Receivables

		31 January			31 January			30 June			30 June
		2018			2017			2016			2015
			NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s
Trade receivables			9,982			26,499			20,603			16,020
Provision for impairment	(a)		(326	)		(537	)		(268	)		(340	)
			9,656			25,962			20,335			15,680
Prepayments			1,792			1,779			2,659			935
Other receivables			1,717			349			347			206
			13,165			28,090			23,341			16,821

Disclosure of Impairment Loss and Reversal of Impairment Loss

Reconciliation of changes in the provision for impairment of receivables is as follows:

	For the Year			For the 7 Months			For the Year			For the Year
	Ended 31			Ended 31			Ended 30			Ended 30
	January 2018			January 2017			June 2016			June 2015
		NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s
Balance at beginning of the period		(537	)		(268	)		(340	)		(368	)
Provision charged		(92	)		(364	)		(16	)		-
Reversal of impairment		316			80			88			28
Foreign exchange movement		(13	)		15			-			-
Balance at end of the period		(326	)		(537	)		(268	)		(340	)

Analysis of Age of Financial Assets That are Past Due but Not Impaired

The ageing analysis of receivables is as follows:

	31 January		31 January		30 June		30 June
	2018		2017		2016		2015
	NZ$000’s		NZ$000’s		NZ$000’s		NZ$000’s
0-30 days		7,945		14,883		12,769		14,209
31-60 days		335		2,566		1,934		466
61-90 days (past due not impaired)		489		2,166		1,081		472
61-90 days (considered impaired)		-		-		-		-
91+ days (past due not impaired)		1,213		6,884		4,551		533
91+ days (considered impaired)		-		-		268		340
		9,982		26,499		20,603		16,020

Disclosure of Transfers of Financial Assets

The amount repayable under the factoring agreement is presented as secured borrowings.

31 January

30 June

2018

2017

2016

2015

NZ$000’s

Transferred receivables

9,790

11,649

14,599

Inventories (Tables) (Bendon Limited)

12 Months Ended

Jan. 31, 2018

DisclosureOfInventoriesLineItems [Line Items]

Disclosure of Detailed Information About Inventories

	31 January			31 January			30 June			30 June
	2018			2017			2016			2015
	NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s
Finished goods		31,451			37,904			37,998			46,424
Provision for impairment		(338	)		(153	)		(426	)		(764	)
		31,113			37,751			37,572			45,660

Property, Plant and Equipment (Tables)

6 Months Ended

Jul. 31, 2018

Disclosure of detailed information about property, plant and equipment [abstract]

Disclosure of Detailed Information About Property, Plant and Equipment

	31 July 2018 NZ $000’s			31 January 2018 NZ $000’s
Plant, furniture, fittings and motor vehicles At cost		26,461			27,801
Accumulated depreciation		(25,973	)		(25,789	)
		488			2,013

Leasehold improvements
At cost		12,254			10,762
Accumulated depreciation		(8,688	)		(8,034	)
		3,566			2,728
Total property, plant and equipment		4,054			4,741

Disclosure of Detailed Information About Movements in Carrying Amounts of Property, Plant and Equipment

Movement in the carrying amounts for each class of property, plant and equipment between the beginning and the end of the current financial period:

Leasehold improvements
NZ $000’s

Plant, furniture,
fittings and
motor vehicles
NZ $000’s

Total
NZ $000’s

6 months ended 31 July 2018

Balance at the beginning of the period

2,728

2,013

4,741

Additions

1,362

(914

)

448

Disposals

(301

)

(301

)

Depreciation expense

(501

)

(569

)

(1,070

)

Impairment

(28

)

(28

)

Foreign exchange movements

(23

)

287

264

Balance at the end of the year

3,566

488

4,054

	Leasehold improvements NZ $000’s			Plant, furniture, fittings and motor vehicles NZ $000’s			Total NZ $000’s
6 months ended 31 January 2018
Balance at the beginning of the year		2,541			1,736			4,277
Additions		227			1,467			1,694
Depreciation expense		(238	)		(1,088	)		(1,326	)
Impairment		-			(111	)		(111	)
Foreign exchange movements		198			9			207
Balance at the end of the half year		2,728			2,013			4,741

Property, Plant and Equipment (Tables) (Bendon Limited)

6 Months Ended

12 Months Ended

Jul. 31, 2018

Jan. 31, 2018

Disclosure of detailed information about property, plant and equipment [line items]

Disclosure of Detailed Information About Property, Plant and Equipment

	31 July 2018 NZ $000’s			31 January 2018 NZ $000’s
Plant, furniture, fittings and motor vehicles At cost		26,461			27,801
Accumulated depreciation		(25,973	)		(25,789	)
		488			2,013

Leasehold improvements
At cost		12,254			10,762
Accumulated depreciation		(8,688	)		(8,034	)
		3,566			2,728
Total property, plant and equipment		4,054			4,741

Disclosure of Detailed Information About Movements in Carrying Amounts of Property, Plant and Equipment

Movement in the carrying amounts for each class of property, plant and equipment between the beginning and the end of the current financial period:

Leasehold improvements
NZ $000’s

Plant, furniture,
fittings and
motor vehicles
NZ $000’s

Total
NZ $000’s

6 months ended 31 July 2018

Balance at the beginning of the period

2,728

2,013

4,741

Additions

1,362

(914

)

448

Disposals

(301

)

(301

)

Depreciation expense

(501

)

(569

)

(1,070

)

Impairment

(28

)

(28

)

Foreign exchange movements

(23

)

287

264

Balance at the end of the year

3,566

488

4,054

	Leasehold improvements NZ $000’s			Plant, furniture, fittings and motor vehicles NZ $000’s			Total NZ $000’s
6 months ended 31 January 2018
Balance at the beginning of the year		2,541			1,736			4,277
Additions		227			1,467			1,694
Depreciation expense		(238	)		(1,088	)		(1,326	)
Impairment		-			(111	)		(111	)
Foreign exchange movements		198			9			207
Balance at the end of the half year		2,728			2,013			4,741

Disclosure of detailed information about property, plant and equipment [line items]

Disclosure of Detailed Information About Property, Plant and Equipment

	31 January			31 January			30 June			30 June
	2018			2017			2016			2015
	NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s

Plant, furniture, fittings and motor vehicles
At cost		27,801			25,455			26,269			24,687
Accumulated depreciation		(25,788	)		(23,182	)		(22,855	)		(21,176	)
		2,013			2,273			3,414			3,511

Leasehold Improvements
At cost		10,762			10,132			10,640			11,111
Accumulated depreciation		(8,034	)		(7,441	)		(7,845	)		(7,769	)
		2,728			2,691			2,795			3,342
Total property, plant and equipment		4,741			4,964			6,209			6,853

Disclosure of Detailed Information About Movements in Carrying Amounts of Property, Plant and Equipment

Movement in the carrying amounts for each class of property, plant and equipment between the beginning and the end of the current financial period:

Plant, furniture,

Leasehold

fittings and

improvements

motor vehicles

Total

NZ$000’s

Year ended 31 January 2018

Balance at the beginning of period

2,691

2,273

4,964

Additions

285

2,032

2,317

Disposals

)

(118

)

(122

)

Depreciation expense

(496

)

(2,228

)

(2,724

)

Foreign exchange movements

252

306

Balance at the end of the year

2,728

2,013

4,741

				Plant, furniture,
	Leasehold			fittings and
	improvements			motor vehicles			Total
	NZ$000’s			NZ$000’s			NZ$000’s
7 months ended 31 January 2017
Balance at the beginning of period		2,795			3,414			6,209
Additions		241			482			723
Depreciation expense		(296	)		(1,368	)		(1,664	)
Impairment		-			(281	)		(281	)
Foreign exchange movements		(49	)		26			(23	)
Balance at the end of the year		2,691			2,273			4,964

				Plant, furniture,
	Leasehold			fittings and
	Improvements			motor vehicles			Total
	NZ$000’s			NZ$000’s			NZ$000’s
Year ended 30 June 2016
Balance at the beginning of year		3,342			3,511			6,853
Additions		205			2,498			2,703
Disposals
Depreciation expense		(469	)		(2,497	)		(2,966	)
Foreign exchange movements		(283	)		(98	)		(381	)
Balance at the end of the year		2,795			3,414			6,209

							Plant, furniture,
	Plant under			Leasehold			fittings and
	finance lease			Improvements			motor vehicles			Total
		NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s

Year ended 30 June 2015
Balance at the beginning of year		461			3,841			1,038			5,340
Additions		-			96			4,605			4,701
Depreciation expense		(461	)		(657	)		(2,242	)		(3,360	)
Foreign exchange movements		-			62			110			172
Balance at the end of the year		-			3,342			3,511			6,853

Intangible Assets (Tables)

6 Months Ended

Jul. 31, 2018

Disclosure of detailed information about intangible assets [abstract]

Disclosure of Detailed Information About Intangible Assets

	31 July 2018 NZ $000’s			31 January 2018 NZ $000’s

Patents and licences
Cost		1,037			919
Accumulated amortisation and impairment		(820	)		(718	)
Net book amount		217			201

Brands
Cost		15,091			12,463
Impairment		(696	)		-
Net book amount		14,395			12,463

Software
Cost		15,729			15,788
Accumulated amortisation and impairment		(15,453	)		(15,440	)
Net book amount		276			348

Goodwill
Costs		5,798			-
Impairment		(3,399	)		-
Net book amount		2,399			-

Total intangible assets		17,287			13,012

Disclosure of Detailed Information About Movements in Carrying Amounts of Intangible Assets

Goodwill
NZ $000’s

Software
NZ $000’s

Patents and licences
NZ $000’s

Brands
NZ $000’s

Total
NZ $000’s

Year ended 31 January 2018

Balance at the beginning of the year

348

201

12,463

13,012

Additions

5,798

119

2,726

8,675

Disposals

(22

)

(22

)

Amortisation

(17

)

(103

)

(120

)

Impairment (refer note 9e)

(3,399

)

(64

)

(696

)

(4,159

)

Foreign exchange movements

)

(98

)

(99

)

Closing value at 31 July 2018

2,399

276

217

14,395

17,287

	Goodwill NZ $000’s		Software NZ $000’s			Patents and licences NZ $000’s			Brands NZ $000’s		Total NZ $000’s
6 months ended 31 July 2017
Balance at the beginning of the period		-		1,957			536			12,206		14,699
Additions		-		101			-			-		101
Amortisation		-		(64	)		(71	)		-		(135	)
Impairment		-		(1,650	)		(264	)				(1,914	)
Foreign exchange movements		-		4			0			257		261
Closing value at 31 January 2018		-		348			201			12,463		13,012

Disclosure of Information for Cash-generating Units

	31 July 2018 NZ $000’s
United States		5,798
Impairment expense		(3,399	)
		2,399

Intangible Assets (Tables) (Bendon Limited)

6 Months Ended

12 Months Ended

Jul. 31, 2018

Jan. 31, 2018

Disclosure of detailed information about intangible assets [line items]

Disclosure of Detailed Information About Intangible Assets

	31 July 2018 NZ $000’s			31 January 2018 NZ $000’s

Patents and licences
Cost		1,037			919
Accumulated amortisation and impairment		(820	)		(718	)
Net book amount		217			201

Brands
Cost		15,091			12,463
Impairment		(696	)		-
Net book amount		14,395			12,463

Software
Cost		15,729			15,788
Accumulated amortisation and impairment		(15,453	)		(15,440	)
Net book amount		276			348

Goodwill
Costs		5,798			-
Impairment		(3,399	)		-
Net book amount		2,399			-

Total intangible assets		17,287			13,012

Disclosure of Detailed Information About Movements in Carrying Amounts of Intangible Assets

Goodwill
NZ $000’s

Software
NZ $000’s

Patents and licences
NZ $000’s

Brands
NZ $000’s

Total
NZ $000’s

Year ended 31 January 2018

Balance at the beginning of the year

348

201

12,463

13,012

Additions

5,798

119

2,726

8,675

Disposals

(22

)

(22

)

Amortisation

(17

)

(103

)

(120

)

Impairment (refer note 9e)

(3,399

)

(64

)

(696

)

(4,159

)

Foreign exchange movements

)

(98

)

(99

)

Closing value at 31 July 2018

2,399

276

217

14,395

17,287

	Goodwill NZ $000’s		Software NZ $000’s			Patents and licences NZ $000’s			Brands NZ $000’s		Total NZ $000’s
6 months ended 31 July 2017
Balance at the beginning of the period		-		1,957			536			12,206		14,699
Additions		-		101			-			-		101
Amortisation		-		(64	)		(71	)		-		(135	)
Impairment		-		(1,650	)		(264	)				(1,914	)
Foreign exchange movements		-		4			0			257		261
Closing value at 31 January 2018		-		348			201			12,463		13,012

Disclosure of Information for Cash-generating Units

	31 July 2018 NZ $000’s
United States		5,798
Impairment expense		(3,399	)
		2,399

Disclosure of detailed information about intangible assets [line items]

Disclosure of Detailed Information About Intangible Assets

	31 January			31 January			30 June			30 June
	2018			2017			2016			2015
	NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s
Goodwill
Cost		-			-			2,157			2,347
Accumulated impairment		-			-			(2,157	)		-
		-			-			-			2,347

Patents and licences
Cost		919			1,169			818			557
Accumulated amortisation and impairment		(718	)		(573	)		(544	)		(540	)
		201			596			274			17
Brands
Cost		12,463			12,036			12,105			12,702
Software
Cost		15,788			17,308			17,312			17,131
Accumulated amortisation and impairment		(15,440	)		(15,260	)		(15,116	)		(14,816	)
		348			2,048			2,196			2,315
Total Intangible assets		13,012			14,680			14,575			17,381

Disclosure of Detailed Information About Movements in Carrying Amounts of Intangible Assets

(a)

Movements in carrying amounts of intangible assets

Patents and

Software

licences

Brands

Goodwill

Total

NZ$000’s

Year ended 31 January 2018

Balance at the beginning of the year

2,048

596

12,036

14,680

Additions

106

118

Amortisation

(163

)

(143

)

(306

)

Impairment (refer note 12(c)

(1,650

)

(264

)

(1,914

)

Foreign exchange movements

427

434

Closing value at 31 January 2018

348

201

12,463

13,012

				Patents and
	Software			licences			Brands			Goodwill		Total
	NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s		NZ$000’s
7 months ended 31 January 2017
Balance at the beginning of the period		2,196			274			12,105			-		14,575
Additions		-			351			-			-		351
Amortisation		(148	)		(30	)		-			-		(178	)
Foreign exchange movements		-			1			(69	)		-		(68	)
Closing value at 31 January 2017		2,048			596			12,036			-		14,680

				Patents and
	Software			licences			Brands			Goodwill			Total
	NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s
Year ended 30 June 2016
Balance at the beginning of the year		2,315			17			12,702			2,347			17,381
Additions		211			264			-			-			475
Amortisation		(316	)		(7	)		-			-			(323	)
Impairment		-			-			-			(2,157	)		(2,157	)
Foreign exchange movements		(14	)		-			(597	)		(190	)		(801	)
Closing value at 30 June 2016		2,196			274			12,105			-			14,575

				Patents and
	Software			licences			Brands		Goodwill		Total
	NZ$000’s			NZ$000’s			NZ$000’s		NZ$000’s		NZ$000’s
Year ended 30 June 2015
Balance at the beginning of the year		2,081			117			12,274		2,211		16,683
Additions		1,093			-			-		-		1,093
Amortisation		(787	)		(104	)		-		-		(891	)
Foreign exchange movements		(72	)		4			428		136		496
Closing value at 30 June 2015		2,315			17			12,702		2,347		17,381

Disclosure of Information for Cash-generating Units

For the purpose of impairment testing, goodwill is allocated to cash-generating units as below:

	For the Year		For the 7		For the Year			For the Year
	Ended		Months Ended		Ended			Ended
Description of the cash-generating unit (CGU)		31 January 2018	31 January 2017		30 June 2016			30 June 2015
	NZ $000’s		NZ $000’s		NZ $000’s			NZ $000’s
Australia		-		-		2,157			2347
Impairment expense		-		-		(2,157	)		-
		-		-		-			2347

Derivative Financial Instruments (Tables)

6 Months Ended

Jul. 31, 2018

Derivative Financial Instruments

Schedule of Derivative Financial Instruments

	31 July 2018 NZ $000’s		31 January 2018 NZ $000’s
Current assets
Forward exchange contracts		220		-

	31 July 2018 NZ $000’s		31 January 2018 NZ $000’s
Current liabilities
Forward exchange contracts		-		4,188

Derivative Financial Instruments (Tables) (Bendon Limited)

6 Months Ended

12 Months Ended

Jul. 31, 2018

Jan. 31, 2018

DisclosureOfDerivativeFinancialInstrumentsLineItems [Line Items]

Disclosure of Fair Value of Financial Instruments

	31 July 2018 NZ $000’s		31 January 2018 NZ $000’s
Current assets
Forward exchange contracts		220		-

	31 July 2018 NZ $000’s		31 January 2018 NZ $000’s
Current liabilities
Forward exchange contracts		-		4,188

DisclosureOfDerivativeFinancialInstrumentsLineItems [Line Items]

Disclosure of Fair Value of Financial Instruments

31 January

30 June

2018

2017

2016

2015

NZ$000’s

Current assets

Forward exchange contracts

2,289

31 January

30 June

2018

2017

2016

2015

NZ$000’s

Current liabilities

Foreign exchange contracts

2,087

4,188

5,531

Derivative on Convertible Notes (Tables) (Bendon Limited)

12 Months Ended

Jan. 31, 2018

DisclosureOfDerivativeOnConvertibleNotesLineItems [Line Items]

Disclosure of Detailed Information About Derivative on Convertible Notes

31 January

30 June

2018

2017

2016

2015

NZ$000’s

Derivative on Convertible Notes

1,110

4,112

Trade and Other Payables (Tables)

6 Months Ended

Jul. 31, 2018

Trade And Other Payables

Disclosure of Detailed Information About Trade and Other Current Payables

	31 July 2018 NZ $000’s		31 January 2018 NZ $000’s
CURRENT
Trade payables		24,438		21,143
Accruals		8,061		9,568
Employee benefits liabilities		2,234		1,805
		34,734		32,516

Trade and Other Payables (Tables) (Bendon Limited)

6 Months Ended

12 Months Ended

Jul. 31, 2018

Jan. 31, 2018

DisclosureOfTradeAndOtherPayablesLineItems [Line Items]

Disclosure of Detailed Information About Trade and Other Current Payables

	31 July 2018 NZ $000’s		31 January 2018 NZ $000’s
CURRENT
Trade payables		24,438		21,143
Accruals		8,061		9,568
Employee benefits liabilities		2,234		1,805
		34,734		32,516

DisclosureOfTradeAndOtherPayablesLineItems [Line Items]

Disclosure of Detailed Information About Trade and Other Current Payables

31 January

30 June

2018

2017

2016

2015

NZ$000’s

CURRENT

Trade payables

21,143

19,221

18,357

25,302

Accruals

9,568

7,503

6,934

9,096

Employee benefit liabilities

1,805

1,842

1,524

2,152

32,516

28,566

26,815

36,550

Disclosure of Detailed Information About Trade and Other Non Current Payables

31 January

30 June

2018

2017

2016

2015

NZ$000’s

Employee benefit liabilities

118

150

Borrowings (Tables)

6 Months Ended

Jul. 31, 2018

Disclosure Of Borrowings Abstract

Disclosure of Detailed Information About Borrowings

	31 July 2018 NZ $000’s			31 January 2018 NZ $000’s

CURRENT
Secured liabilities:
Shareholder loans		-			10,951
Bank Loans		20,000			16,000
Debt issuance costs in relation to bank loan		(80	)		(218	)
Working capital financing bank facility		-			22,489
Convertible notes		-			1,740
Loan note		1,247			1,159
		21,167			52,121

Borrowings (Tables) (Bendon Limited)

6 Months Ended

12 Months Ended

Jul. 31, 2018

Jan. 31, 2018

Disclosure of Detailed Information About Borrowings

	31 July 2018 NZ $000’s			31 January 2018 NZ $000’s

CURRENT
Secured liabilities:
Shareholder loans		-			10,951
Bank Loans		20,000			16,000
Debt issuance costs in relation to bank loan		(80	)		(218	)
Working capital financing bank facility		-			22,489
Convertible notes		-			1,740
Loan note		1,247			1,159
		21,167			52,121

Disclosure of Detailed Information About Borrowings

		31 January			31 January			30 June			30 June
		2018			2017			2016			2015
	Note	NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s

CURRENT
Secured liabilities:
Bank overdraft			-			-			-			18,064
Shareholder loans			10,951			8,200			29,281			16,918
Lease liability	22		-			-			-			105
Bank loans			16,000			16,000			-			17,841
Debt issuance costs in relation to bank loan			(218	)		(656	)		(565	)		(42	)
Working capital financing bank facility			22,489			31,710			32,877			3,387
Convertible notes			1,740			13,744			-			-
Other loan			1,159			-			-			-
			52,121			68,998			61,593			56,273

The fair value of borrowings is not considered to be materially different to their carrying amounts.

31 January

30 June

2018

2017

2016

2015

NZ$000’s

NON-CURRENT

Secured liabilities:

Bank loans

16,000

Provisions (Tables)

6 Months Ended

Jul. 31, 2018

Provisions [abstract]

Disclosure of Detailed Information About Provisions

	31 July 2018 NZ $000’s		31 January 2018 NZ $000’s
CURRENT
Lease contributions		423		412
Onerous contracts		49		264
Make good		921		430
		1,393		1,106

	31 July 2018 NZ $000’s		31 January 2018 NZ $000’s
NON-CURRENT
Lease contributions		723		910
Make good		1,442		1,801
		2,165		2,711

Disclosure of Detailed Information About Reconciliation of Changes in Other Provisions

	Lease contributions NZ $000’s			Onerous contracts NZ $000’s			Make good NZ $000’s			Total NZ $000’s
Opening balance at 1 February 2018		1,322			264			2,231			3,817
Additional provisions recognised		573			-			181			754
Unused amounts reversed		-			-			(68	)		(68	)
Unwinding of discounts		-			-			28			28
Amounts used during the year		(619	)		(215	)		-			(834	)
Exchange differences		(130	)		-			(9	)		(139	)
Balance at 31 July 2018		1,146			49			2,363			3,558

Opening balance at 1 July 2017		997			369			2,066			3,432
Additional provisions recognised		584			-			595			1,179
Unused amounts reversed		-			-			(662	)		(662	)
Unwinding of discounts		-			-			271			271
Amounts used during the year		(293	)		(105	)		(77	)		(475	)
Exchange differences		34			-			38			72
Balance at 31 January 2018		1,322			264			2,231			3,817

Provisions (Tables) (Bendon Limited)

6 Months Ended

12 Months Ended

Jul. 31, 2018

Jan. 31, 2018

Disclosure of Detailed Information About Provisions

	31 July 2018 NZ $000’s		31 January 2018 NZ $000’s
CURRENT
Lease contributions		423		412
Onerous contracts		49		264
Make good		921		430
		1,393		1,106

	31 July 2018 NZ $000’s		31 January 2018 NZ $000’s
NON-CURRENT
Lease contributions		723		910
Make good		1,442		1,801
		2,165		2,711

Disclosure of Detailed Information About Reconciliation of Changes in Other Provisions

	Lease contributions NZ $000’s			Onerous contracts NZ $000’s			Make good NZ $000’s			Total NZ $000’s
Opening balance at 1 February 2018		1,322			264			2,231			3,817
Additional provisions recognised		573			-			181			754
Unused amounts reversed		-			-			(68	)		(68	)
Unwinding of discounts		-			-			28			28
Amounts used during the year		(619	)		(215	)		-			(834	)
Exchange differences		(130	)		-			(9	)		(139	)
Balance at 31 July 2018		1,146			49			2,363			3,558

Opening balance at 1 July 2017		997			369			2,066			3,432
Additional provisions recognised		584			-			595			1,179
Unused amounts reversed		-			-			(662	)		(662	)
Unwinding of discounts		-			-			271			271
Amounts used during the year		(293	)		(105	)		(77	)		(475	)
Exchange differences		34			-			38			72
Balance at 31 January 2018		1,322			264			2,231			3,817

Disclosure of Detailed Information About Provisions

31 January

30 June

2018

2017

2016

2015

NZ$000’s

CURRENT

Lease contributions

412

480

342

353

Onerous contracts

264

377

233

Make good

430

671

513

200

1,106

1,528

855

786

	31 January		31 January		30 June		30 June
	2018		2017		2016		2015
	NZ$000’s		NZ$000’s		NZ$000’s		NZ$000’s

NON-CURRENT
Lease contributions		910		702		976		906
Onerous contracts		-		176		275		361
Make good		1,801		1,371		1,304		1,500
		2,711		2,249		2,555		2,767

Disclosure of Detailed Information About Reconciliation of Changes in Other Provisions

	Lease			Onerous
	contributions			contracts			Make good			Total
	NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s
Opening balance at 1 February 2017		1,182			553			2,042			3,777
Additional provisions recognised		635			-			595			1,230
Unused amounts reversed		-			-			(658	)		(658	)
Unwinding of discounts		-			-			271			271
Amounts used during the year		(547	)		(289	)		(77	)		(913	)
Exchange differences		52			-			58			110
Balance at 31 January 2018		1,322			264			2,231			3,817

Opening balance at 1 July 2016		1,318			275			1,817			3,410
Additional provisions recognised		145			508			353			1,006
Unused amounts reversed		-			-			(112	)		(112	)
Unwinding of discounts		-			-			(9	)		(9	)
Amounts used during the period		(269	)		(230	)		-			(499	)
Exchange differences		(12	)		-			(7	)		(19	)
Balance at 31 January 2017		1,182			553			2,042			3,777

Share Capital (Tables)

6 Months Ended

Jul. 31, 2018

Disclosure of classes of share capital [abstract]

Disclosure of Detailed Information About Share Capital

	31 July 2018 NZ $000’s		31 January 2018 NZ $000’s

20,952,824 (31 January 2018: 306,028) Ordinary shares		116,491		68,727

Disclosure of Detailed Information About Ordinary Shares Explanatory

Ordinary shares
	6 months to 31 July 2018 NZ $000’s		6 months to 31 January 2018 NZ $000’s

At the beginning of the reporting period		68,727		40,667
Issuance of ordinary shares:
- Cash collected		17,165		10,271
- Settle Shareholder loan		12,244		-
- Shares issued in lieu of consultancy fee		692		-
Convertible notes converted		4,159		17,789
Business combination with Naked Brand Group Inc.		14,196		-
At the end of the reporting period		117,183		68,727

The Company does not have authorised capital or par value in respect of its shares.

	For the Year Ended 31 July 2018 Number		For the 6 Months Ended 31 January 2018 Number

Naked Brand Group Limited shares issued on close of the merger between Bendon Limited and Naked Brand Group Inc.
- Bendon shareholders		18,617,719		305,136
- Naked shareholders		2,068,438		-
Shares issued during the period		266,667		-
At the end of the period		20,952,824		305,136

Share Capital (Tables) (Bendon Limited)

6 Months Ended

12 Months Ended

Jul. 31, 2018

Jan. 31, 2018

Disclosure of classes of share capital [line items]

Disclosure of Detailed Information About Share Capital

	31 July 2018 NZ $000’s		31 January 2018 NZ $000’s

20,952,824 (31 January 2018: 306,028) Ordinary shares		116,491		68,727

Disclosure of Detailed Information About Ordinary Shares Explanatory

Ordinary shares
	6 months to 31 July 2018 NZ $000’s		6 months to 31 January 2018 NZ $000’s

At the beginning of the reporting period		68,727		40,667
Issuance of ordinary shares:
- Cash collected		17,165		10,271
- Settle Shareholder loan		12,244		-
- Shares issued in lieu of consultancy fee		692		-
Convertible notes converted		4,159		17,789
Business combination with Naked Brand Group Inc.		14,196		-
At the end of the reporting period		117,183		68,727

The Company does not have authorised capital or par value in respect of its shares.

	For the Year Ended 31 July 2018 Number		For the 6 Months Ended 31 January 2018 Number

Naked Brand Group Limited shares issued on close of the merger between Bendon Limited and Naked Brand Group Inc.
- Bendon shareholders		18,617,719		305,136
- Naked shareholders		2,068,438		-
Shares issued during the period		266,667		-
At the end of the period		20,952,824		305,136

Disclosure of classes of share capital [line items]

Disclosure of Detailed Information About Share Capital

31 January

30 June

2018

2017

2016

2015

NZ$000’s

306,028 (2017: 274,839, 2016: 250,000, 2015: 250,000) Ordinary shares

68,727

27,948

3,108

Disclosure of Detailed Information About Ordinary Shares Explanatory

For the 7

For the Year

Months

For the Year

Ended 31

Ended 30

January 2018

January 2017

June 2016

June 2015

NZ$000’s

At the beginning of the reporting period

27,948

3,108

Issuance of new shares

22,990

24,840

Convertible note maturity

17,789

At the end of the reporting period

68,727

27,948

3,108

The Company does not have authorised capital or par value in respect of its shares.

For the Year

Ended 31

Ended 30

January 2018

January 2017

June 2016

June 2015

Number

At the beginning of the period

274,839

250,000

Shares issued during the period

31,189

24,839

At the end of the period

306,028

274,839

250,000

Disclosure of Detailed Information About Other Equity Explanatory

31 January

30 June

2018

2017

2016

2015

NZ$000’s

Value of conversion rights - convertible notes

17,789

Disclosure of Detailed Information About Gearing Ratio

The gearing ratio is as follows:

		2018			2017			30 June 2016			30 June 2015
	Note	NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s
Total borrowings	16		52,121			68,998			77,593			56,273
Less Cash and cash equivalents	8		(10,739	)		(2,644	)		(4,193	)		(1,246	)
Net debt			41,382			66,354			73,400			55,027
Equity			(5,710	)		(9,044	)		(17,876	)		2,839
Total Captial			35,672			57,310			55,524			57,866
Gearing ratio			116	%		116	%		132	%		95	%

Reserves (Tables) (Bendon Limited)

12 Months Ended

Jan. 31, 2018

Disclosure of reserves within equity [line items]

Disclosure of Detailed Information About Reserves Within Equity

	31 January			31 January			30 June			30 June
	2018			2017			2016			2015
	NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s
Foreign currency translation reserve
Opening balance		(2,154	)		(2,125	)		(2,156	)		(2,063	)
Transfers in		148			(29	)		31			(93	)
Balance at the end of the period		(2,006	)		(2,154	)		(2,125	)		(2,156	)

Business Combination (Tables)

6 Months Ended

Jul. 31, 2018

Business Combination

Disclosure of Detailed Information About Purchase Consideration

Details of the purchase consideration, the net assets acquired and goodwill are as follows:

	$’000
Purchase consideration:
Shares issued (2,068,438 shares at $6.86 per share fair value)		14,196
Total purchase consideration		14,196

Disclosure of Detailed Information About Assets and Liabilities Recognised

The assets and liabilities recognised as a result of the acquisition are as follows:

	Fair value $’000
Cash		592
Trade and other receivables		4,186
Inventories		1,810
Intangible assets
- Brand		2,200
- Customer relationships		526
Trade and other payables		(916	)
Net identifiable assets acquired		8,398
Add: goodwill		5,798
Net assets acquired		14,196

Earnings Per Share (Tables)

6 Months Ended

Jul. 31, 2018

Earnings per share from loss from continuing operations attributable to the ordinary equity holders of Naked Brand Group Limited

Disclosure of Detailed Information About Earning Loss Per Share

(a)

Basic and diluted loss per share

	6 months to 31 July 2018 NZ $			6 months to 31 July 2017 NZ $

From continuing operations attributable to the ordinary equity holders of the company		(1.28	)		(0.89	)
Total basic and diluted loss per share attributable to the ordinary equity holders of the company		(1.28	)		(0.89	)

(b)

Reconciliation of loss used in calculating earnings per share

	6 months to 31 July 2018 NZ $000’s			6 months to 31 July 2017 NZ $000’s

Basic and diluted loss per share
Profit/(loss) attributable to the ordinary equity holders of the company used in calculating basic earnings per share:		(26,515	)		(18,456	)

(c)

Weighted average number of shares used as the denominator

31 July 2018

Number

31 July 2017

Number*

Weighted average number of ordinary shares used as the denominator in calculating basic and diluted loss per share

20,692,359

20,692,359

Loss Per Share (Tables) (Bendon Limited)

6 Months Ended

12 Months Ended

Jul. 31, 2018

Jan. 31, 2018

Disclosure of Detailed Information About Earning Loss Per Share

(a)

Basic and diluted loss per share

	6 months to 31 July 2018 NZ $			6 months to 31 July 2017 NZ $

From continuing operations attributable to the ordinary equity holders of the company		(1.28	)		(0.89	)
Total basic and diluted loss per share attributable to the ordinary equity holders of the company		(1.28	)		(0.89	)

(b)

Reconciliation of loss used in calculating earnings per share

	6 months to 31 July 2018 NZ $000’s			6 months to 31 July 2017 NZ $000’s

Basic and diluted loss per share
Profit/(loss) attributable to the ordinary equity holders of the company used in calculating basic earnings per share:		(26,515	)		(18,456	)

(c)

Weighted average number of shares used as the denominator

31 July 2018

Number

31 July 2017

Number*

Weighted average number of ordinary shares used as the denominator in calculating basic and diluted loss per share

20,692,359

20,692,359

Disclosure of Detailed Information About Earning Loss Per Share

(a)

Basic and diluted loss per share

	For the Year		Months		For the Year		For the Year
	Ended 31		Ended 31		Ended 30		Ended 30
	January 2018		January 2017		June 2016		June 2015
	NZ$		NZ$		NZ$		NZ$
From continuing operations attributable to the ordinary equity holders of the company	(131.38)		(60.54)	)	(82.86	)	(52.79)	)
Total basic and diluted loss per share attributable to the ordinary equity holders of the company	(131.38	)	(60.54	)	(82.86	)	(52.79)	)

(b)

Reconciliation of loss used in calculating loss per share

For the 7

For the Year

Months

For the Year

Ended 31

Ended 30

January 2018

January 2017

June 2016

June 2015

NZ$000’s

Basic and diluted loss per share

Profit/(loss) attributable to the ordinary equity holders of the company used in calculating basic earnings per share:

(37,445

)

(16,008

)

(20,715

)

(13,198

)

(c)

Weighted average number of shares used as the denominator

31 January

30 June

2018

2017

2016

2015

Number

Weighted average number of ordinary shares used as the denominator in calculating basic and diluted loss per share

285,019

264,441

250,000

Accumulated Losses (Tables) (Bendon Limited)

12 Months Ended

Jan. 31, 2018

AccumulatedLossesLineItems [Line Items]

Disclosure of Detailed Information About Retained Earnings Accumulated Losses

				For the 7
	For the Year			Months			For the Year			For the Year
	Ended 31			Ended 31			Ended 30			Ended 30
	January 2018			January 2017			June 2016			June 2015
	NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s
(Accumulated losses)/retained earnings at the beginning of the period		(34,838	)		(18,859	)		1,887			14,992
Loss for the period		(37,593	)		(15,989	)		(20,746	)		(13,105	)
(Accumulated Losses)/Retained Earnings at end of the period		(72,431	)		(34,848	)		(18,859	)		1,887

Capital and Leasing Commitments (Tables) (Bendon Limited) - Bendon Limited [Member]

12 Months Ended

Jan. 31, 2018

DisclosureOfCapitalAndLeasingCommitmentsLineItems [Line Items]

Detailed Information of Finance Leases Explanatory

	31 January		31 January		30 June		30 June
	2018		2017		2016		2015
	NZ$000’s		NZ$000’s		NZ$000’s		NZ$000’s
Minimum lease payments:
- not later than one year		-		-		-		105
Minimum lease payments		-		-		-		105
Less: finance changes		-		-		-		-
Present value of minimum lease payments		-		-		-		105

Disclosure of Detailed Information About Operating Leases Explenatory

31 January

30 June

2018

2017

2016

2015

NZ$000’s

Minimum lease payments under non-cancellable operating leases:

- not later than one year

9,618

9,472

9,594

8,952

- between one year and five years

14,943

14,435

16,438

17,089

- later than five years

528

140

312

25,089

23,966

26,172

26,353

Disclosure of Detailed Information About Contracted Commitments Explanatory

	31 January		31 January		30 June		30 June
	2018		2017		2016		2015
	NZ$000’s		NZ$000’s		NZ$000’s		NZ$000’s
Licence contract
- not later than one year		3,797		3,652		3,696		3,147
- between one year and five years		12,009		15,917		16,775		15,808
- later than five years		-		-		2,283		6,652
		15,806		19,569		22,754		25,607

Lessor Commitments (Tables) (Bendon Limited)

12 Months Ended

Jan. 31, 2018

Disclosure of finance lease and operating lease by lessor [line items]

Disclosure of Finance Lease and Operating Lease by Lessor

The future minimum lease payments under non-cancellable leases are:

	31 January		31 January		30 June		30 June
	2018		2017		2016		2015
	NZ$000’s		NZ$000’s		NZ$000’s		NZ$000’s
- no later than 1 year		166		503		620		431
- between 1 year and 5 years		-		1,076		1,217		565
- greater than 5 years		-		-		-		-
Total minimum lease payments		166		1,579		1,837		996

Financial Risk Management (Tables) (Bendon Limited) - Bendon Limited [Member]

12 Months Ended

Jan. 31, 2018

DisclosureOfFinancialRiskManagementLineItems [Line Items]

Disclosure of Financial Risk Management

The Group’s liabilities have contractual maturities which are summarised below:

	Non-derivatives Borrowings NZ$000’s		Non-derivatives Finance lease obligations NZ$000’s		Non-derivatives Trade payables NZ$000’s		Non-derivatives Bank guarantees NZ$000’s		Non-derivatives Total NZ$000’s		Derivatives Gross future cash settlement on forward currency contracts - inflow NZ$000’s		Derivatives Gross future cash settlement on forward currency contracts - (outflow) NZ$000’s			Derivatives Total NZ$000’s
Not later than 1 month
31 January 2018		26,482		-		21,143		-		47,625		13,577		(13,950	)		(373	)
31 January 2017		56,333		-		19,221		-		75,554		2,078		(2,250	)		(172	)
30 June 2016		63,054		-		18,357		-		81,411		6,636		(7,097	)		(461	)
30 June 2015		22,322		66		25,302		-		47,690		-		-			-

1 to 3 months
31 January 2018		148		-		-		-		148		13,837		(14,453	)		(616	)
31 January 2017		129		-		-		-		129		9,900		(11,326	)		(1,426	)
30 June 2016		127		-		-		-		127		18,755		(20,454	)		(1,699	)
30 June 2015		996		40		-		-		1,036		1,841		(2,029	)		(188	)

3 months to 1 year
31 January 2018		27,247		-		-		-		27,247		20,895		(21,993	)		(1,098	)
31 January 2017		18,631		-		-		-		18,631		37,855		(40,445	)		(2,590	)
30 June 2016		572		-		-		-		572		36,397		(39,766	)		(3,369	)
30 June 2015		17,496		-		-		-		17,496		15,715		(17,133	)		(1,418	)

1 to 5 years
31 January 2018		-		-		-		-		-		-		-			-
31 January 2017		323		-		-		-		323		-		-			-
30 June 2016		16,763		-		-		582		17,345		-		-			-
30 June 2015		16,981		-		-		372		17,353		8,940		(9,623	)		(683	)

	Non-derivatives Borrowings NZ$000’s		Non-derivatives Finance lease obligations NZ$000’s		Non-derivatives Trade payables NZ$000’s		Non-derivatives Bank guarantees NZ$000’s		Non-derivatives Total NZ$000’s		Derivatives Gross future cash settlement on forward currency contracts - inflow NZ$000’s		Derivatives Gross future cash settlement on forward currency contracts - (outflow) NZ$000’s			Derivatives Total NZ$000’s

Total
31 January 2018		53,877		-		21,143		-		75,020		48,309		(50,396	)		(2,087	)
31 January 2017		75,416		-		19,221		-		94,637		49,833		(54,021	)		(4,188	)
30 June 2016		80,516		-		18,357		582		99,455		61,788		(67,317	)		(5,529	)
30 June 2015		57,795		106		25,302		372		83,575		26,496		(28,785	)		(2,289	)

Disclosure of Credit Risk Exposure

31 January

30 June

2018

2017

2016

2015

NZ$000’s

Trade receivables

Counterparty without external credit ratings

New customer less than 6 months

187

1,046

Existing customers (more than 6 months with default in past)

9,970

26,312

19,557

Total trade receivables

9,982

26,499

20,603

31 January

30 June

2018

2017

2016

2015

NZ$000’s

Credit ratings

AA-

10,591

2,655

4,122

1,194

A+

(11

)

10,685

2,644

4,146

1,194

Disclosure of Market Risk

Foreign currency denominated financial assets and liabilities, translated into New Zealand Dollars at the closing rate, are as follows:

	AUD		USD		GBP		EUR		HKD		Total
	NZ$000’s		NZ$000’s		NZ$000’s		NZ$000’s		NZ$000’s		NZ$000’s
31 January 2018
Trade receivables		328		199		-		1,376		-		1,903
Trade payables		781		11,209		74		29		53		12,146
Cash and cash equivalents		1,660		7,190		77		92		165		9,184
31 January 2017
Trade receivables		424		211		-		1,509		-		2,144
Trade payables		315		8,557		131		32		16		9,051
Cash and cash equivalents		926		401		131		388		28		1,874
30 June 2016
Trade receivables		531		30		-		1,828		-		2,389
Trade payables		203		12,438		117		8		35		12,801
Cash and cash equivalents		965		163		110		149		9		1,396
30 June 2015
Trade receivables		5		167		-		1,405		-		1,577
Trade payables		334		14,942		50		6		351		15,683
Cash and cash equivalents		422		194		135		103		60		914

Disclosure of Detailed Information About Hedging Instruments

The following table summarises the notional amount of the Group’s commitments in relation to forward exchange contracts.

	Notional Amounts								Average Exchange Rate
	31 January 2018 NZ$000’s		31 January 2017 NZ$000’s		30 June 2016 NZ$000’s		30 June 2015 NZ$000’s		31 January 2018 $		31 January 2017 $		30 June 2016 $		30 June 2015 $
Buy USD / sell NZD
Settlement
Less than 6 months		48,149		47,292		38,697		24,932		0.7061		0.6687		0.6473		0.7320
6 months to 1 year		-		3,479		22,378		3,854		-		0.7186		0.6424		0.7136

Buy AUD / sell NZD
Settlement

		NZ$000’s		NZ$000’s		NZ$000’s		NZ$000’s		$		$		$		$
Less than 6 months		2,247		2,250		5,242		-		0.8900		0.8890		0.9066

Buy GBP / sell NZD
Settlement

		NZ$000’s		NZ$000’s		NZ$000’s		NZ$000’s		$		$		$		$
Less than 6 months		-		1,000		1,000		-		-		0.5784		0.4181

Disclosure of Financial Instruments by Type of Interest Rate

At the reporting date, the Group is exposed to changes in market interest rates through its bank borrowings, which are subject to variable interest rates.

	31 January		31 January		30 June		30 June
	2018		2017		2016		2015
	NZ$000’s		NZ$000’s		NZ$000’s		NZ$000’s
Floating rate instruments
Bank overdraft		-		-		-		14,481
Working capital financing bank facility		22,489		31,710		32,877		3,387
Convertible notes		1,740		16,474		-		-
Borrowings		16,000		16,000		16,000		17,841
		40,229		64,184		48,877		35,709

Currency risk [member]

DisclosureOfFinancialRiskManagementLineItems [Line Items]

Sensitivity Analysis for Types of Market Risk

	NZ$000’s
	+10%			-10%
USD
Net results/Equity (31 January 2018)		(1,509	)		1,509
Net results/Equity (31 January 2017)		(1,196	)		1,196
Net results/Equity (30 June 2016)		(1,267	)		1,267
Net results/Equity (30 June 2015)		(797	)		797

AUD
Net results/Equity (31 January 2018)		(805	)		805
Net results/Equity (31 January 2017)		86			(86	)
Net results/Equity (30 June 2016)		75			(75	)
Net results/Equity (30 June 2015)		7			(7	)

GBP
Net results/Equity (31 January 2018)		(175	)		175
Net results/Equity (31 January 2017)		34			(34	)
Net results/Equity (30 June 2016)		(16	)		16
Net results/Equity (30 June 2015)		(3	)		3

EUR
Net results/Equity (31 January 2018)		(136	)		136
Net results/Equity (31 January 2017)		186			(186	)
Net results/Equity (30 June 2016)		142			(142	)
Net results/Equity (30 June 2015)		108			(108	)

HKD
Net results/Equity (31 January 2018)		(14	)		14
Net results/Equity (31 January 2017)		1			(1	)
Net results/Equity (30 June 2016)		(2	)		2
Net results/Equity (30 June 2015)		(21	)		21

Interest Rate Risk [Member]

DisclosureOfFinancialRiskManagementLineItems [Line Items]

Sensitivity Analysis for Types of Market Risk

The calculations are based on the financial instruments held at each reporting date. All other variables are held constant.

	NZ$000’s
	1.00%		-1.00%
	NZ$000’s		NZ$000’s
Net results/Equity (31 January 2018)		420		(420	)
Net results/Equity (31 January 2017)		642		(642	)
Net results/Equity (30 June 2016)		352		(352	)
Net results/Equity (30 June 2015)		283		(283	)

Tax Assets and Liabilities (Tables) (Bendon Limited)

12 Months Ended

Jan. 31, 2018

Disclosure of temporary difference, unused tax losses and unused tax credits [line items]

Reconciliation of Changes in Deferred Tax Liability Asset

	Opening Balance NZ$000’s			Charged to Income NZ$000’s			Charged directly to Equity NZ$000’s	Changes in Tax Rate NZ$000’s		Exchange Differences NZ$000’s		Closing Balance NZ$000’s
Deferred tax assets/(liabilities)
Property, plant and equipment		1,251			417				-		-		1,668
Doubtful debts		85			(5	)			-		-		80
Provision for annual leave		273			23				-		-		296
Provision for long service leave		66			13				-		-		79
Other payroll provisions		142			(18	)			-		-		124
General provisions		1,857			(1,524	)			-		-		333
Inventories		125			90				-		-		215
Carried forward tax losses		194			3,300				-		-		3,494
Intangible assets		(403	)		(297	)			-		-		(700	)
Balance at 30 June 2015		3,590			1,999				-		-		5,589

Property, plant and equipment		1,668			(1,668	)			-		-		-
Doubtful debts		80			(80	)			-		-		-
Provision for annual leave		296			(296	)			-		-		-
Provision for long service leave		79			(79	)			-		-		-
Other payroll provisions		124			(124	)			-		-		-
General provisions		333			(333	)			-		-		-
Inventories		215			(215	)			-		-		-
Carried forward tax losses		3,494			(2,864	)			-		-		630
Intangible assets		(700	)		70				-		-		(630	)
Balance at 30 June 2016		5,589			(5,589	)			-		-		-

Carried forward tax losses		630			-								630
Intangible assets		(630	)		-								(630	)
Balance at 31 January 2017		-			-				-		-		-

Carried forward tax losses		630			-								630
Intangible assets		(630	)		-								(630	)
Balance at 31 January 2018		-			-				-		-		-

Dividends (Tables) (Bendon Limited)

12 Months Ended

Jan. 31, 2018

DisclosureOfDividendsLineItems [Line Items]

Disclosure of Detailed Information About Dividends Explanatory

31 January

30 June

2018

2017

2016

2015

NZ$000’s

Australian franking credits available for subsequent financial years at a tax rate of 30%

3,995

3,757

3,808

4,113

New Zealand imputation credits available for subsequent financial years at a tax rate of 28%

236

235

Key Management Personnel Remuneration (Tables) (Bendon Limited)

12 Months Ended

Jan. 31, 2018

KeyManagementPersonnelRemunerationLineItems [Line Items]

Disclosure of Detailed Information About Key Management Personnel

Key management personnel remuneration included within employee expenses for the period is shown below:

For the Year

For the 7

Ended

Months Ended

For the Year

31 January

Ended 30 June

2018

2017

2016

2015

NZ$

Short-term employee benefits

1,742,530

1,492,015

1,751,710

2,039,156

1,742,530

1,492,015

1,751,710

2,039,156

Interests in Subsidiaries (Tables) (Bendon Limited)

12 Months Ended

Jan. 31, 2018

Disclosure of Composition of Group

Composition of the Group

		Percentage		Percentage		Percentage		Percentage
	Principal place of	Owned (%)*		Owned (%)*		Owned (%)*		Owned (%)*
	business / Country of	31 January		31 January		30 June		30 June
	Incorporation	2018		2017		2016		2015

Subsidiaries:
Bendon Retail Limited	New Zealand		100		100		100		100
Bendon Holdings Limited	New Zealand		100		100		100		100
Bendon Holdings Pty Limited	Australia		100		100		100		100
Bendon Pty Limited	Australia		100		100		100		100
Bendon Intimates Pty Limited	Australia		100		100		100		100
PS Holdings No. 1 Pty Limited	Australia		100		100		100		100
Pleasure State Pty Limited	Australia		100		100		100		100
Pleasure State (HK) Limited	Hong Kong		100		100		100		100
Bendon UK Limited	United Kingdom		100		100		100		100
Bendon USA Inc	United States of America		100		100		100		100

*The percentage of ownership interest held is equivalent to the percentage voting rights for all subsidiaries.

Fair Value Measurement (Tables)

6 Months Ended

Jul. 31, 2018

Fair Value Measurement

Schedule of Fair Value Measurement of Assets and Liabilities

The table below shows the assigned level for each asset and liability held at fair value by the Group:

	Level 1 NZ$000’s		Level 2 NZ$000’s		Level 3 NZ$000’s		Total
31 July 2018
Recurring fair value measurements

Financial assets
Foreign exchange contracts		-		220		-		220

Financial liabilities
Foreign exchange contracts		-		-		-		-
Derivative on Convertible Notes		-		-		-		-

31 January 2018
Recurring fair value measurements

Financial assets
Foreign exchange contracts		-		-		-		-

Financial liabilities
Foreign exchange contracts		-		2,087		-		2,087
Derivative on Convertible Notes		-		-		1,110		1,110

Schedule of Valuation Techniques for Fair Value Measurements Categorized Within Level 3

The following table presents the changes in level 3 instruments for the year ended 31 July 2018.

	Convertible note liability NZ$000’s
Balance at 31 January 2018		1,110
Changes in fair value		-
Conversion		(1,110	)
Balance at 31 July 2018		-

Fair Value Measurement (Tables) (Bendon Limited)

6 Months Ended

12 Months Ended

Jul. 31, 2018

Jan. 31, 2018

DisclosureOfFairValueMeasurementLineItems [Line Items]

Schedule of Fair Value Measurement of Assets and Liabilities

The table below shows the assigned level for each asset and liability held at fair value by the Group:

	Level 1 NZ$000’s		Level 2 NZ$000’s		Level 3 NZ$000’s		Total
31 July 2018
Recurring fair value measurements

Financial assets
Foreign exchange contracts		-		220		-		220

Financial liabilities
Foreign exchange contracts		-		-		-		-
Derivative on Convertible Notes		-		-		-		-

31 January 2018
Recurring fair value measurements

Financial assets
Foreign exchange contracts		-		-		-		-

Financial liabilities
Foreign exchange contracts		-		2,087		-		2,087
Derivative on Convertible Notes		-		-		1,110		1,110

Schedule of Valuation Techniques for Fair Value Measurements Categorized Within Level 3

The following table presents the changes in level 3 instruments for the year ended 31 July 2018.

	Convertible note liability NZ$000’s
Balance at 31 January 2018		1,110
Changes in fair value		-
Conversion		(1,110	)
Balance at 31 July 2018		-

DisclosureOfFairValueMeasurementLineItems [Line Items]

Schedule of Fair Value Measurement of Assets and Liabilities

The table below shows the assigned level for each asset and liability held at fair value by the Group:

	Level 1		Level 2		Level 3		Total
	NZ$000’s		NZ$000’s		NZ$000’s		NZ$000’s
31 January 2018
Recurring fair value measurements
Financial assets
Foreign exchange contracts		-		-		-		-
Financial liabilities
Foreign exchange contracts		-		2,087		-		2,087
Derivative on Convertible Notes		-		-		1,110		1,110

31 January 2017
Recurring fair value measurements
Financial assets
Foreign exchange contracts		-		-		-		-
Financial liabilities
Foreign exchange contracts		-		4,188		-		4,188
Derivative on Convertible Notes		-		-		4,112		4,112

30 June 2016
Recurring fair value measurements
Financial assets
Foreign exchange contracts		-		-		-		-
Financial liabilities
Foreign exchange contracts		-		5,531		-		5,531

30 June 2015
Recurring fair value measurements
Financial assets
Foreign exchange contracts		-		2,289		-		2,289
Financial liabilities
Foreign exchange contracts		-		1		-		1

Schedule of Valuation Techniques for Fair Value Measurements Categorized Within Level 3

The following table presents the changes in level 3 instruments for the year ended 31 January 2018.

	Convertible
	note liability
	NZ$000’s
Balance at 31 January 2017		4,112
Changes in fair value		1,110
Conversion		(4,112	)
Balance at 31 January 2018		1,110

Schedule of Quantitative Information for Fair Value Measurements Categorised Within Level 3

The following table summarises the quantitative information about the significant inputs used in level 3 fair value measurements:

	Range of inputs for
Unobservable inputs	convertible note liability
Face value (NZD)		3,624,198
Interest rate of note		10	%
Risk free rate		1.66	%
Term of the instrument		August 2019
Expected volatility		128.7	%
Dividend yield		0	%

Contingencies (Tables) (Bendon Limited)

12 Months Ended

Jan. 31, 2018

Disclosure of contingent liabilities [line items]

Schedule of Contingent Liabilities

The Group had the following contingent liabilities at the end of the reporting period:

	31 January 2018		31 January 2017		30 June 2016		30 June 2015
	NZ$000’s		NZ$000’s		NZ$000’s		NZ$000’s

Rent guarantees to certain landlords		419		571		534		313
Standby letter of credit to JP Morgan Chase Bank		291		286		279		-
Guarantee provided to UK Customs Department		329		282		303		372
Guarantee provided to ANZ for Merchant Service		172		-		-		-

Related Parties (Tables)

6 Months Ended

Jul. 31, 2018

Disclosure of transactions between related parties [abstract]

Disclosure of Transactions Between Related Parties

	Opening balance NZ$			Closing balance NZ$			Interest not charged NZ$		Interest paid/payable NZ$		Impairment NZ$

Loans to related parties
Cullen Investments Limited - 31 July 2018		11,535,677			12,791,201
Cullen Investments Limited - 31 January 2018		13,051,321			11,535,677			-		-		-
Whitespace Atelier Limited - 31 July 2018		272,665			722,385
Whitespace Atelier Limited - 31 January 2018		-			272,665			-		-		-
FOH Online Inc. - 31 July 2018		3,518,009			2,488,487
FOH Online Inc. - 31 January 2018		-			3,518,009			-		-		-

Loans from related parties
Naked Inc. - 31 July 2018		(1,368,577	)		-
Naked Inc. - 31 January 2018		-			(1,368,577	)		-		-		-

Related Parties (Tables) (Bendon Limited)

6 Months Ended

12 Months Ended

Jul. 31, 2018

Jan. 31, 2018

Disclosure of transactions between related parties [line items]

Disclosure of Transactions Between Related Parties

	Opening balance NZ$			Closing balance NZ$			Interest not charged NZ$		Interest paid/payable NZ$		Impairment NZ$

Loans to related parties
Cullen Investments Limited - 31 July 2018		11,535,677			12,791,201
Cullen Investments Limited - 31 January 2018		13,051,321			11,535,677			-		-		-
Whitespace Atelier Limited - 31 July 2018		272,665			722,385
Whitespace Atelier Limited - 31 January 2018		-			272,665			-		-		-
FOH Online Inc. - 31 July 2018		3,518,009			2,488,487
FOH Online Inc. - 31 January 2018		-			3,518,009			-		-		-

Loans from related parties
Naked Inc. - 31 July 2018		(1,368,577	)		-
Naked Inc. - 31 January 2018		-			(1,368,577	)		-		-		-

Disclosure of transactions between related parties [line items]

Disclosure of Transactions Between Related Parties

	Opening			Closing			Interest not		Interest
	balance			balance			charged		paid/payable		Impairment
	NZ$			NZ$			NZ$		NZ$		NZ$

Loans from related parties
Cullen Investments Limited - 31 January 2018		13,051,321			11,535,677			-		-		-
Cullen Investments Limited - 31 January 2017		9,613,014			13,051,321			-		-		-
Cullen Investments Limited - 30 June 2016		4,010,083			9,613,014			-		-		-
Cullen Investments Limited - 30 June 2015		3,381,579			4,010,083			-		-		-
Whitespace Atelier Limited - 31 January 2018		-			272,665			-		-		-
Whitespace Atelier Limited - 31 January 2017		-			-			-		-		-

Loans to related parties
Naked Inc. - 31 January 2018		-			(1,368,577	)		-		-		-
Naked Inc. - 31 January 2017		-			-			-		-		-
PS Holdings No. 2 Pty Limited - 30 June 2015		(21,078	)		-			-		-		-
FOH Online Inc. – 31 January 2018			-		3,518,009

Cash Flow Information (Tables) (Bendon Limited)

12 Months Ended

Jan. 31, 2018

CashFlowInformationLineItems [Line Items]

Schedule of Cash Flow Information

Reconciliation of net income to net cash provided by operating activities:

				For the 7
	For the Year			Months			For the Year			For the Year
	Ended 31			Ended 31			Ended 30			Ended 30
	January 2018			January 2017			June 2016			June 2015
	NZ$000’s			NZ$000’s			NZ$000’s			NZ$000’s
Loss for the period		(37,593	)		(15,979	)		(20,746	)		(13,105	)
Cash flows excluded from profit attributable to operating activities interest paid on borrowings		8,792			6,238			10,182			4,402
Non-cash flows in profit:
- depreciation and amortisation expense		3,030			1,842			3,516			5,718
- impairment expense		1,914			292			2,157			-
- fair value gain/(loss) on Convertible Notes derivative		(2,393	)		592			-			-
Changes in assets and liabilities:
- (increase) in trade and other receivables		14,925			(4,748	)		(6,518	)		(1,046	)
- (increase) in current tax receivable		52			35			(88	)		-
- (increase)/decrease in derivative assets		-			-			2,289			(2,225	)
- (increase)/decrease in inventories		6,638			(179	)		8,088			(15,646	)
- (increase)/decrease in deferred tax asset/(liability)		-			-			5,589			(2,160	)
- (increase) in related party receivables		(906	)		(3,438	)		(5,603	)		(650	)
- increase/(decrease) in trade and other payables		6,956			2,078			(11,113	)		12,817
- increase/(decrease) in income taxes payable		152			635			(483	)		36
- increase/(decrease) in provisions		39			367			311			(2,507	)
- increase/(decrease) in foreign currency derivative liability		(5,104	)		(1,343	)		5,530			(1,982	)
- net exchange differences		(618	)		90			1,849			(851	)
Cashflows from operations		(4,116	)		(13,518	)		(5,040	)		(17,199	)

Basis of Preparation of Half - Year Report (Details Narrative) - NZD ($)	6 Months Ended		12 Months Ended
	Jul. 31, 2018	Jul. 31, 2017	Jan. 31, 2018
BasisOfPreparationLineItems [Line Items]
Loss for the period	$ (26,094,000)	$ (19,213,000)	$ 37,593,000
Cash flows from (used in) operating activities	(5,427,000)	$ (8,436,000)	4,116,000
Current assets (liabilities)	2,944,000		20,752,000
Assets (liabilities)	16,232,000		$ (5,710,000)
Short-term debt	1,247,000
Increase in capital	$ 36,000,000
Percentage of equity interests acquired	100.00%
Useful lives or amortisation rates, intangible assets other than goodwill	5 years
Non-cancellable operating lease commitments	$ 29,900,000
Bank Facilities [Member]
BasisOfPreparationLineItems [Line Items]
Facility description	Renegotiating the current bank facilities of $20 million to a facility that is at least a 12 month facility, reviewed annually, and is subject to amortisation of $2.5 million per quarter commencing April 2019
Amortisation	$ 2,500,000
Bank Borrowing Facility Agreement [Member]
BasisOfPreparationLineItems [Line Items]
Short-term debt	$ 20,000,000

Basis of Preparation of Half - Year Report - Disclosure of Detailed Information About Estimated Useful Lives of Property, Plant and Equipment (Details)	6 Months Ended
	Jul. 31, 2018
Leasehold Improvements [Member]
BasisOfPreparationLineItems [Line Items]
Useful lives or depreciation rates, property, plant and equipment	1 - 10 years
Plant, furniture, fittings and motor vehicles [Member]
BasisOfPreparationLineItems [Line Items]
Useful lives or depreciation rates, property, plant and equipment	3 - 7 years

Summary of Significant Accounting Policies (Details Narrative) (Bendon Limited) - NZD ($)	6 Months Ended		7 Months Ended	12 Months Ended
	Jul. 31, 2018	Jul. 31, 2017	Jan. 31, 2017	Jan. 31, 2018	Jun. 30, 2016	Jun. 30, 2015
SummaryOfSignificantAccountingPoliciesLineItems [Line Items]
Loss for the period	$ (26,094,000)	$ (19,213,000)		$ 37,593,000
Cash flows from (used in) operating activities	(5,427,000)	$ (8,436,000)		4,116,000
Current assets (liabilities)	2,944,000			20,752,000
Assets (liabilities)	16,232,000			(5,710,000)
Short-term debt	1,247,000
Increase in capital	$ 36,000,000
Percentage of equity interests acquired	100.00%
Useful lives or amortisation rates, intangible assets other than goodwill	5 years
Bank Facilities [Member]
SummaryOfSignificantAccountingPoliciesLineItems [Line Items]
Facility description	Renegotiating the current bank facilities of $20 million to a facility that is at least a 12 month facility, reviewed annually, and is subject to amortisation of $2.5 million per quarter commencing April 2019
Amortisation	$ 2,500,000
Bank Borrowing Facility Agreement [Member]
SummaryOfSignificantAccountingPoliciesLineItems [Line Items]
Short-term debt	20,000,000
Bendon Limited [Member]
SummaryOfSignificantAccountingPoliciesLineItems [Line Items]
Loss for the period	26,094,000		$ (15,979,000)	(37,593,000)	$ (20,746,000)	$ (13,105,000)
Cash flows from (used in) operating activities	5,427,000		(13,518,000)	(4,116,000)	(5,040,000)	(17,199,000)
Current assets (liabilities)	2,944,000			20,752,000
Assets (liabilities)	16,232,000		(9,044,000)	(5,710,000)	(17,876,000)	2,839,000
Increase in capital				36,000,000
Amortisation			$ 178,000	$ 306,000	$ 323,000	$ 891,000
Percentage of equity interests acquired				100.00%
Bendon Limited [Member] \| Patents and Licences [Member]
SummaryOfSignificantAccountingPoliciesLineItems [Line Items]
Useful lives or amortisation rates, intangible assets other than goodwill				P5Y
Bendon Limited [Member] \| Software [Member] \| Bottom of Range [Member]
SummaryOfSignificantAccountingPoliciesLineItems [Line Items]
Useful lives or amortisation rates, intangible assets other than goodwill				P1Y
Bendon Limited [Member] \| Software [Member] \| Top of Range [Member]
SummaryOfSignificantAccountingPoliciesLineItems [Line Items]
Useful lives or amortisation rates, intangible assets other than goodwill				P3Y
Bendon Limited [Member] \| Bank Facilities [Member]
SummaryOfSignificantAccountingPoliciesLineItems [Line Items]
Facility description				Renegotiating the current bank facilities of $20 million to a facility that is at least a 12 month facility, reviewed annually, and is subject to amortisation of $2.5 million per quarter commencing April 2019
Amortisation				$ 2,500,000
Bendon Limited [Member] \| Bank Borrowing Facility Agreement [Member]
SummaryOfSignificantAccountingPoliciesLineItems [Line Items]
Short-term debt	$ 20,000,000

Summary of Significant Accounting Policies - Disclosure of Detailed Information About Useful Lives Property Plant and Equipment Explanatory (Details) (Bendon Limited)	6 Months Ended	12 Months Ended
	Jul. 31, 2018	Jan. 31, 2018
Leasehold Improvements [Member]
SummaryOfSignificantAccountingPoliciesLineItems [Line Items]
Useful lives or depreciation rates, property, plant and equipment	1 - 10 years
Bendon Limited [Member] \| Leasehold Improvements [Member]
SummaryOfSignificantAccountingPoliciesLineItems [Line Items]
Useful lives or depreciation rates, property, plant and equipment		1 - 10 years
Bendon Limited [Member] \| Plant, Furniture, Fittings and Motor Vehicles [Member]
SummaryOfSignificantAccountingPoliciesLineItems [Line Items]
Useful lives or depreciation rates, property, plant and equipment		3 - 7 years

Critical Accounting Estimates and Judgments (Details Narrative) (Bendon Limited)) - NZD ($) $ in Thousands	6 Months Ended		7 Months Ended	12 Months Ended
	Jul. 31, 2018	Jul. 31, 2017	Jan. 31, 2017	Jan. 31, 2018	Jun. 30, 2016	Jun. 30, 2015
CriticalAccountingEstimatesAndJudgmentsLineItems [Line Items]
Impairment of goodwill	$ (3,399)
Bendon Limited [Member]
CriticalAccountingEstimatesAndJudgmentsLineItems [Line Items]
Impairment of goodwill					$ (2,157)

Revenue and Other Income - Disclosure of Detailed Information About Revenue from Continuing Operations (Details) (Bendon Limited) - NZD ($) $ in Thousands	6 Months Ended		7 Months Ended	12 Months Ended
	Jul. 31, 2018	Jul. 31, 2017	Jan. 31, 2017	Jan. 31, 2018	Jun. 30, 2016	Jun. 30, 2015
RevenueAndOtherIncomeLineItems [Line Items]
Gross revenue	$ 61,282	$ 68,445
Rebates	(4,532)	(8,658)
Revenue	56,750	59,787
Sale of goods	56,750	59,685
Other income		102
Revenue from continuing operations	$ 56,750	$ 59,787
Bendon Limited [Member]
RevenueAndOtherIncomeLineItems [Line Items]
Gross revenue			$ 104,007	$ 145,452	$ 163,481	$ 149,403
Rebates			(7,723)	(14,064)	(12,481)	(10,565)
Revenue			96,284	131,388	151,000	138,838
Sale of goods			95,996	131,285	143,290	138,814
Services					7,702
Other income			288	103	8	24
Revenue from continuing operations			96,284	131,388	151,000	138,838
Bendon Limited [Member] \| Retail [Member]
RevenueAndOtherIncomeLineItems [Line Items]
Sale of goods			34,460	53,150	58,837	56,494
Bendon Limited [Member] \| Wholesale [Member]
RevenueAndOtherIncomeLineItems [Line Items]
Sale of goods			43,379	45,901	77,729	76,570
Bendon Limited [Member] \| Online [Member]
RevenueAndOtherIncomeLineItems [Line Items]
Sale of goods			$ 18,157	$ 32,234	$ 6,724	$ 5,750

Profit and Loss Information (Details Narrative)	6 Months Ended
Profit and Loss Information (Details Narrative)	Jul. 31, 2018	Jul. 31, 2017
Profit And Loss Information
Applicable tax rate	30.00%	28.00%

Profit and Loss Information - Disclosure of Detailed Information About Revenue from Continuing Operations (Details) - NZD ($) $ in Thousands	6 Months Ended
	Jul. 31, 2018	Jul. 31, 2017
ProfitAndLossInformationLineItems [Line Items]
Gross revenue	$ 61,282	$ 68,445
Rebates	(4,532)	(8,658)
Revenue	56,750	59,787
Sale of goods	56,750	59,685
Other income		102
Revenue from continuing operations	56,750	59,787
Retail [Member]
ProfitAndLossInformationLineItems [Line Items]
Sale of goods	24,425	23,427
Wholesale [Member]
ProfitAndLossInformationLineItems [Line Items]
Sale of goods	18,077	23,119
Online [Member]
ProfitAndLossInformationLineItems [Line Items]
Sale of goods	$ 14,248	$ 13,139

Profit and Loss Information - Disclosure of Detailed Information About Profit Loss from Operating Activities (Details) - NZD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jul. 31, 2018	Jul. 31, 2017	Jan. 31, 2018
Profit And Loss Information
Interest expense on external borrowings	$ (1,353)	$ (1,879)
Interest expense on shareholder loans	(1,062)	(1,292)
Interest expense on convertible notes	186	(1,605)
Amortisation on loan set up costs	(225)	(251)
Finance costs	(2,454)	(5,027)
Fair value gain on foreign exchange contracts	2,306	1,600
Net foreign exchange gains/(losses)	1,228	(2,534)
Impairment of goodwill	(3,399)
Impairment of brand	(696)
Impairment of software	(64)
Other (gains)/losses	(625)	(934)
Brand transition expenses	(199)
Onerous contracts		265
Restructure expenses	(526)	(43)
Transaction expenses	(4,432)	(1,334)
Brand transition, restructure and transaction cost	$ (5,157)	$ (1,112)

Loss for the Period - Disclosure of Detailed Information About Profit Loss from Operating Activities (Details) (Bendon Limited) - NZD ($) $ in Thousands	6 Months Ended		7 Months Ended	12 Months Ended
	Jul. 31, 2018	Jul. 31, 2017	Jan. 31, 2017	Jan. 31, 2018	Jun. 30, 2016	Jun. 30, 2015
LossForPeriodLineItems [Line Items]
Interest expense on external borrowings	$ 1,353	$ 1,879
Interest expense on shareholder loans	1,062	1,292
Amortisation on loan set up costs	225	251
Finance costs	2,454	5,027
Net foreign exchange(gains)/losses	(2,306)	(1,600)
Gains (losses) on change in value of foreign currency basis spreads, before tax	(3,535)	934
Brand transition expenses	199
Onerous contracts		265
Restructure expenses	526	43
Transaction expenses	4,432	1,334
Brand transition, restructure and transaction cost	$ 5,157	$ 1,112
Bendon Limited [Member]
LossForPeriodLineItems [Line Items]
Interest expense on external borrowings			$ 2,923	$ 5,431	$ 3,140	$ 2,476
Interest expense on shareholder loans			3,040	2,807	7,042	3,192
Interest expense on finance lease						50
Amortisation on loan set up costs			275	553	227	152
Finance costs			6,238	8,791	10,409	5,870
Fair value (gain)/loss on foreign exchange contracts			2,135	(502)	7,660	(6,330)
Net foreign exchange(gains)/losses			1,171	(255)	(5,237)	1,630
Gains (losses) on change in value of foreign currency basis spreads, before tax			3,306	(757)	2,423	(4,700)
Brand transition expenses					884	10,160
Onerous contracts			1,166	(265)	789	329
Restructure expenses			103	215	559	111
Transaction expenses			52	3,322		1,582
Brand transition, restructure and transaction cost			$ 1,321	$ 3,272	$ 2,232	$ 12,182

Loss for the Period - Disclosure of Detailed Information About Profit Loss from Operating Activities in Connection with Specific Expenses (Details) (Bendon Limited) - Bendon Limited [Member] - NZD ($) $ in Thousands	7 Months Ended	12 Months Ended
	Jan. 31, 2017	Jan. 31, 2018	Jun. 30, 2016	Jun. 30, 2015
LossForPeriodLineItems [Line Items]
Salaries and wages	$ 19,917	$ 33,613	$ 33,666	$ 31,266
Defined contribution expenses	1,022	545	1,588	1,466
Employee benefits expense	20,939	34,158	35,254	32,732
Depreciation	1,664	2,724	2,966	3,359
Amortisation	178	306	323	891
Impairment loss	292	1,914	2,157
Depreciation, amortisation and impairment loss (reversal of impairment loss) recognised in profit or loss	2,134	4,944	5,446	4,250
Lease payments	6,485	10,807	11,034	10,488
Sublease payments received	(354)	(483)	(567)	(475)
Rental expense	$ 6,131	$ 10,324	$ 10,467	$ 10,013

Income Tax Expense/(Benefit) - Disclosure of Detailed Information About Major Components of Tax Expense Income (Details) (Bendon Limited) - NZD ($) $ in Thousands	6 Months Ended		7 Months Ended	12 Months Ended
	Jul. 31, 2018	Jul. 31, 2017	Jan. 31, 2017	Jan. 31, 2018	Jun. 30, 2016	Jun. 30, 2015
CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriodsLineItems [Line Items]
Income tax expense/(benefit) for continuing operations	$ (411)	$ 174
Bendon Limited [Member]
CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriodsLineItems [Line Items]
Current tax on profits for the period			$ 807	$ 537	$ 301	$ 313
Adjustments for current tax of prior periods			58	(477)	(344)	412
Total current tax expense/(benefit)			865	60	(43)	725
Decrease/(increase) in deferred tax assets (note 25)					5,589	(1,999)
Income tax expense/(benefit) for continuing operations			$ 865	$ 60	$ 5,546	$ (1,274)

The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax. [Refer: Current tax expense (income); Deferred tax expense (income)]

Income Tax Expense/(Benefit) - Disclosure of Detailed Information About Reconciliation of Accounting Profit Multiplied by Applicable Tax Rates (Details) (Bendon Limited) - NZD ($) $ in Thousands	6 Months Ended		7 Months Ended	12 Months Ended
	Jul. 31, 2018	Jul. 31, 2017	Jan. 31, 2017	Jan. 31, 2018	Jun. 30, 2016	Jun. 30, 2015
Income taxes [Line Items]
Loss before income tax	$ (26,505)	$ (19,039)
Income tax expense/(benefit)	$ (411)	$ 174
Bendon Limited [Member]
Income taxes [Line Items]
Loss before income tax			$ (15,114)	$ (37,533)	$ (15,200)	$ (14,379)
Tax at New Zealand tax rate of 28% (2017: 28%, 2016: 28%, 2015: 28%)			(4,232)	(10,509)	(4,256)	(4,026)
Tax effect of: permanent differences (including impairment expense)			(6)	(105)	757	23
Tax effect of: adjustments in respect of current income tax of previous years			41	(449)	(237)	378
Tax effect of: effects of different tax rates of subsidiaries operating in other jurisdictions			(15)	(30)	(42)	(382)
Tax effect of: deferred tax assets relating to prior periods no longer recognised (note 25)					5,589
Tax effect of: deferred tax assets relating to the current year not brought to account			5,119	11,150	3,934	2,630
Tax effect of: other			(42)	3	(199)	103
Income tax expense/(benefit)			$ 865	$ 60	$ 5,546	$ (1,274)

Income Tax Expense/(Benefit) - Disclosure of Detailed Information About Reconciliation of Accounting Profit Multiplied by Applicable Tax Rates (Details) (Bendon Limited) (Parenthetical)	6 Months Ended		7 Months Ended	12 Months Ended
	Jul. 31, 2018	Jul. 31, 2017	Jan. 31, 2017	Jan. 31, 2018	Jun. 30, 2016	Jun. 30, 2015
Income taxes [Line Items]
Applicable tax rate	30.00%	28.00%
Bendon Limited [Member]
Income taxes [Line Items]
Applicable tax rate			28.00%	28.00%	28.00%	28.00%

Income Tax Expense/(Benefit) - Disclosure of Detailed Information About Tax Losses Not Recognised (Details) (Bendon Limited) - Bendon Limited [Member] - NZD ($) $ in Thousands	7 Months Ended	12 Months Ended
	Jan. 31, 2017	Jan. 31, 2018	Jun. 30, 2016	Jun. 30, 2015
IncomeTaxeLineItems [Line Items]
Unused tax losses for which no deferred tax asset recognised	$ 43,269	$ 87,455	$ 23,765	$ 10,236
Potential tax benefit at 28%	$ 12,115	$ 24,487	$ 6,654	$ 2,866

Income Tax Expense/(benefit) - Disclosure of Detailed Information About Temporary Differences Not Recognised (Details) (Bendon Limited) - Bendon Limited [Member] - NZD ($) $ in Thousands	7 Months Ended	12 Months Ended
	Jan. 31, 2017	Jan. 31, 2018	Jun. 30, 2016	Jun. 30, 2015
IncomeTaxeLineItems [Line Items]
Temporary differences for which no deferred tax asset has been recognised	$ 18,703	$ 14,661	$ 19,924
Potential tax benefit at 28%	$ 5,237	$ 4,105	$ 5,579

Operating Segment (Details Narrative)	6 Months Ended
Operating Segment (Details Narrative)	Jul. 31, 2018 Integer
Operating Segments
Number of reportable segments	7

Operating Segment - Disclosure of Reconciliation of Segment Revenue to Profit or Loss and Other Comprehensive Income (Details) - NZD ($) $ in Thousands	6 Months Ended
	Jul. 31, 2018	Jul. 31, 2017
Operating Segments
Total segment revenue	$ 65,736	$ 71,095
Intersegment eliminations	(8,986)	(11,308)
Total revenue	$ 56,750	$ 59,787

The income arising in the course of an entity's ordinary activities. Income is increases in economic benefits during the accounting period in the form of inflows or enhancements of assets or decreases of liabilities that result in an increase in equity, other than those relating to contributions from equity participants.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Operating Segment - Disclosure of Reconciliation of Segment EBITDA to Profit or Loss and Other Comprehensive Income (Details) - NZD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jul. 31, 2018	Jul. 31, 2017	Jan. 31, 2018
Operating Segments
Segment EBITDA	$ (15,436)	$ (16,285)
Income tax (expense)/benefit	411	(174)
Other revenue
Any other reconciling items	(11,069)	(2,754)
Loss for the period	$ (26,094)	$ (19,213)	$ 37,593

The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax. [Refer: Current tax expense (income); Deferred tax expense (income)]

The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]

Operating Segment - Disclosure of Detailed Information About Geographical Information (Details) - NZD ($) $ in Thousands	6 Months Ended
	Jul. 31, 2018	Jul. 31, 2017
OperatingSegmentsLineItems [Line Items]
Revenue	$ 56,750	$ 59,787
New Zealand [Member]
OperatingSegmentsLineItems [Line Items]
Revenue	20,984	19,940
Australia [Member]
OperatingSegmentsLineItems [Line Items]
Revenue	17,570	16,197
United States [Member]
OperatingSegmentsLineItems [Line Items]
Revenue	14,383	15,496
Europe [Member]
OperatingSegmentsLineItems [Line Items]
Revenue	$ 3,813	$ 8,154

Operating Segment - Disclosure of Detailed Information About Segment Performance (Details) - NZD ($)
$ in Thousands

6 Months Ended

12 Months Ended

Jul. 31, 2018

Jul. 31, 2017

Jan. 31, 2018

Jun. 30, 2015

$ 56,750

$ 59,787

(39,072)

(40,207)

17,678

19,580

(1,851)

(1,891)

(7,901)

(7,028)

(3,535)

934

Brand transition, restructure and transaction expenses

(15,436)

(16,285)

(5,157)

(1,112)

Fair value (gain)/loss on foreign exchange contracts

(2,454)

(5,027)

2,306

1,600

Fair value gain/(loss) on Convertible Note derivative

(775)

3,246

(26,505)

(19,039)

411

(174)

(26,094)

(19,213)

$ 37,593

Unallocated [member]

^[1]

(10,665)

(441)

(13,940)

(197)

Brand transition, restructure and transaction expenses

(24,822)

(12,182)

(5,870)

(4,250)

(1,827)

(42,621)

1,274

Operating Segments [Member]

$ (41,347)

56,750

59,787

56,750

59,787

(39,072)

(40,207)

17,678

19,580

^[1]

(22,626)

(22,661)

(661)

(320)

(10,672)

(10,241)

845

(2,643)

Brand transition, restructure and transaction expenses

(15,436)

(16,285)

(5,157)

(1,112)

(2,454)

(4,776)

(4,182)

Fair value (gain)/loss on foreign exchange contracts

(1,190)

(1,821)

2,306

(1,600)

Fair value gain/(loss) on Convertible Note derivative

383

3,309

(775)

3,246

(26,505)

(19,039)

411

(174)

Operating Segments [Member] | New Zealand Retail [Member]

(26,094)

(19,213)

15,571

15,072

15,571

15,072

(7,612)

(7,027)

7,959

8,045

^[1]

(6,856)

(6,462)

Brand transition, restructure and transaction expenses

1,103

1,583

Fair value (gain)/loss on foreign exchange contracts

Fair value gain/(loss) on Convertible Note derivative

1,103

1,583

Operating Segments [Member] | Australia Retail [Member]

1,103

1,583

8,758

8,030

8,758

8,030

(4,246)

(4,085)

4,512

3,946

^[1]

(5,644)

(5,335)

Brand transition, restructure and transaction expenses

(1,132)

(1,389)

Fair value (gain)/loss on foreign exchange contracts

Fair value gain/(loss) on Convertible Note derivative

(1,132)

(1,389)

Operating Segments [Member] | New Zealand Wholesale [Member]

(1,132)

(1,389)

4,556

4,092

4,556

4,092

(3,695)

(3,250)

861

842

^[1]

(672)

(449)

Brand transition, restructure and transaction expenses

189

393

Fair value (gain)/loss on foreign exchange contracts

Fair value gain/(loss) on Convertible Note derivative

189

393

Operating Segments [Member] | Australia Wholesale [Member]

189

393

6,757

6,497

6,757

6,497

(5,246)

(6,294)

1,511

203

^[1]

(1,726)

(1,997)

Brand transition, restructure and transaction expenses

(215)

(1,794)

Fair value (gain)/loss on foreign exchange contracts

Fair value gain/(loss) on Convertible Note derivative

(215)

(1,794)

Operating Segments [Member] | US Wholesale [Member]

(215)

(1,794)

3,047

4,803

3,047

4,803

(2,923)

(4,092)

124

711

^[1]

(1,187)

(1,507)

Brand transition, restructure and transaction expenses

(1,063)

(796)

Fair value (gain)/loss on foreign exchange contracts

Fair value gain/(loss) on Convertible Note derivative

(1,063)

(796)

Operating Segments [Member] | Europe Wholesale [Member]

(1,063)

(796)

3,813

8,154

3,813

8,154

(3,007)

(6,308)

806

1,846

^[1]

(1,166)

(1,504)

Brand transition, restructure and transaction expenses

(360)

342

Fair value (gain)/loss on foreign exchange contracts

Fair value gain/(loss) on Convertible Note derivative

(360)

342

Operating Segments [Member] | E-Commerce [Member]

(360)

342

14,248

13,139

14,248

13,139

(10,234)

(9,152)

4,014

3,987

^[1]

(5,375)

(5,407)

Brand transition, restructure and transaction expenses

(1,361)

(1,420)

Fair value (gain)/loss on foreign exchange contracts

Fair value gain/(loss) on Convertible Note derivative

(1,361)

(1,420)

Operating Segments [Member] | Unallocated [member]

(1,361)

(1,420)

(2,109)

(2,109)

^[1]

(661)

(320)

(10,672)

(10,241)

845

(2,643)

Brand transition, restructure and transaction expenses

(12,597)

(13,204)

(5,157)

(1,112)

(2,454)

(4,776)

(4,182)

Fair value (gain)/loss on foreign exchange contracts

(1,190)

(1,821)

2,306

(1,600)

Fair value gain/(loss) on Convertible Note derivative

383

3,309

(775)

3,246

(23,666)

(15,958)

411

(174)

$ (23,255)

$ (16,132)

[1]	Other segment expenses relate to brand management expenses and some corporate expenses.

Operating Segments (Details Narrative) (Bendon Limited) - Integer	6 Months Ended	12 Months Ended
	Jul. 31, 2018	Jan. 31, 2018
OperatingSegmentsLineItems [Line Items]
Number of reportable segments	7
Bendon Limited [Member]
OperatingSegmentsLineItems [Line Items]
Number of reportable segments		7

Operating Segments - Disclosure of Reconciliation of Segment Revenue to Profit or Loss and Other Comprehensive Income (Details) (Bendon Limited) - NZD ($) $ in Thousands	6 Months Ended		7 Months Ended	12 Months Ended
	Jul. 31, 2018	Jul. 31, 2017	Jan. 31, 2017	Jan. 31, 2018	Jun. 30, 2016	Jun. 30, 2015
OperatingSegmentsLineItems [Line Items]
Total segment revenue	$ 65,736	$ 71,095
Intersegment eliminations	(8,986)	(11,308)
Other revenue
Total revenue	$ 56,750	$ 59,787
Bendon Limited [Member]
OperatingSegmentsLineItems [Line Items]
Total segment revenue			$ 113,031	$ 156,311	$ 176,145	$ 166,553
Intersegment eliminations			(16,747)	(24,923)	(32,855)	(27,739)
Other revenue					7,710	24
Total revenue			$ 96,284	$ 131,388	$ 151,000	$ 138,838

Operating Segments - Disclosure of Reconciliation of Segment EBITDA to Profit or Loss and Other Comprehensive Income (Details) (Bendon Limited) - NZD ($) $ in Thousands	6 Months Ended		7 Months Ended	12 Months Ended
	Jul. 31, 2018	Jul. 31, 2017	Jan. 31, 2017	Jan. 31, 2018	Jun. 30, 2016	Jun. 30, 2015
OperatingSegmentsLineItems [Line Items]
Segment EBITDA	$ (15,436)	$ (16,285)
Income tax (expense)/benefit	411	(174)
Other revenue
Any other reconciling items	(11,069)	(2,754)
Loss for the period	(26,094)	$ (19,213)		$ 37,593
Bendon Limited [Member]
OperatingSegmentsLineItems [Line Items]
Segment EBITDA			$ (2,126)	(24,053)	$ 10,470	$ 3,420
Income tax (expense)/benefit			(865)	(60)	(5,546)	1,274
Other revenue					7,710	24
Any other reconciling items			(12,988)	(13,480)	(33,380)	(17,823)
Loss for the period	$ 26,094		$ (15,979)	$ (37,593)	$ (20,746)	$ (13,105)

The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax. [Refer: Current tax expense (income); Deferred tax expense (income)]

The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]

Operating Segments - Disclosure of Detailed Information About Geographical Information (Details) (Bendon Limited) - NZD ($) $ in Thousands	6 Months Ended		7 Months Ended	12 Months Ended
	Jul. 31, 2018	Jul. 31, 2017	Jan. 31, 2017	Jan. 31, 2018	Jun. 30, 2016	Jun. 30, 2015
OperatingSegmentsLineItems [Line Items]
Revenue	$ 56,750	$ 59,787
New Zealand [Member]
OperatingSegmentsLineItems [Line Items]
Revenue	20,984	19,940
Australia [Member]
OperatingSegmentsLineItems [Line Items]
Revenue	17,570	16,197
United States [Member]
OperatingSegmentsLineItems [Line Items]
Revenue	14,383	15,496
Europe [Member]
OperatingSegmentsLineItems [Line Items]
Revenue	$ 3,813	$ 8,154
Bendon Limited [Member]
OperatingSegmentsLineItems [Line Items]
Revenue			$ 96,284	$ 131,388	$ 151,000	$ 138,838
Bendon Limited [Member] \| New Zealand [Member]
OperatingSegmentsLineItems [Line Items]
Revenue			30,676	46,665	62,109	54,834
Bendon Limited [Member] \| Australia [Member]
OperatingSegmentsLineItems [Line Items]
Revenue			32,913	38,208	53,193	51,997
Bendon Limited [Member] \| United States [Member]
OperatingSegmentsLineItems [Line Items]
Revenue			23,146	32,323	19,167	14,435
Bendon Limited [Member] \| Europe [Member]
OperatingSegmentsLineItems [Line Items]
Revenue			$ 9,549	$ 14,192	$ 16,531	$ 17,572

Operating Segments - Disclosure of Detailed Information About Segment Performance (Details) (Bendon Limited) - NZD ($)
$ in Thousands

6 Months Ended

7 Months Ended

12 Months Ended

Jul. 31, 2018

Jul. 31, 2017

Jan. 31, 2017

Jan. 31, 2018

Jun. 30, 2016

Jun. 30, 2015

$ 56,750

$ 59,787

(39,072)

(40,207)

17,678

19,580

(1,851)

(1,891)

(7,901)

(7,028)

3,535

(934)

Brand transition, restructure and transaction expenses

(15,436)

(16,285)

(5,157)

(1,112)

Fair value gain/(loss) on Convertible Notes derivative

(2,454)

(5,027)

(775)

3,246

(26,505)

(19,039)

411

(174)

Operating Segments [Member]

(26,094)

(19,213)

$ 37,593

56,750

59,787

56,750

59,787

(39,072)

(40,207)

17,678

19,580

^[1]

(22,626)

(22,661)

(661)

(320)

(10,672)

(10,241)

(845)

2,643

Brand transition, restructure and transaction expenses

(15,436)

(16,285)

(5,157)

(1,112)

(2,454)

(4,776)

(4,182)

(1,190)

(1,821)

Fair value gain/(loss) on Convertible Notes derivative

383

3,309

(775)

3,246

(26,505)

(19,039)

411

(174)

New Zealand Retail [Member] | Operating Segments [Member]

(26,094)

(19,213)

15,571

15,072

15,571

15,072

(7,612)

(7,027)

7,959

8,045

^[1]

(6,856)

(6,462)

Brand transition, restructure and transaction expenses

1,103

1,583

Fair value gain/(loss) on Convertible Notes derivative

1,103

1,583

Australia Retail [Member] | Operating Segments [Member]

1,103

1,583

8,758

8,030

8,758

8,030

(4,246)

(4,085)

4,512

3,946

^[1]

(5,644)

(5,335)

Brand transition, restructure and transaction expenses

(1,132)

(1,389)

Fair value gain/(loss) on Convertible Notes derivative

(1,132)

(1,389)

New Zealand Wholesale [Member] | Operating Segments [Member]

(1,132)

(1,389)

4,556

4,092

4,556

4,092

(3,695)

(3,250)

861

842

^[1]

(672)

(449)

Brand transition, restructure and transaction expenses

189

393

Fair value gain/(loss) on Convertible Notes derivative

189

393

Australia Wholesale [Member] | Operating Segments [Member]

189

393

6,757

6,497

6,757

6,497

(5,246)

(6,294)

1,511

203

^[1]

(1,726)

(1,997)

Brand transition, restructure and transaction expenses

(215)

(1,794)

Fair value gain/(loss) on Convertible Notes derivative

(215)

(1,794)

US Wholesale [Member] | Operating Segments [Member]

(215)

(1,794)

3,047

4,803

3,047

4,803

(2,923)

(4,092)

124

711

^[1]

(1,187)

(1,507)

Brand transition, restructure and transaction expenses

(1,063)

(796)

Fair value gain/(loss) on Convertible Notes derivative

(1,063)

(796)

Europe Wholesale [Member] | Operating Segments [Member]

(1,063)

(796)

3,813

8,154

3,813

8,154

(3,007)

(6,308)

806

1,846

^[1]

(1,166)

(1,504)

Brand transition, restructure and transaction expenses

(360)

342

Fair value gain/(loss) on Convertible Notes derivative

(360)

342

E-Commerce [Member] | Operating Segments [Member]

(360)

342

14,248

13,139

14,248

13,139

(10,234)

(9,152)

4,014

3,987

^[1]

(5,375)

(5,407)

Brand transition, restructure and transaction expenses

(1,361)

(1,420)

Fair value gain/(loss) on Convertible Notes derivative

(1,361)

(1,420)

Unallocated Amounts [Member]

(1,361)

(1,420)

^[1]

(10,665)

(441)

(13,940)

197

Brand transition, restructure and transaction expenses

(24,822)

(12,182)

(5,870)

Fair value gain/(loss) on foreign exchange contracts

(4,250)

6,330

(1,827)

(42,621)

1,274

Unallocated Amounts [Member] | Operating Segments [Member]

(41,347)

(2,109)

(2,109)

^[1]

(661)

(320)

(10,672)

(10,241)

(845)

2,643

Brand transition, restructure and transaction expenses

(12,597)

(13,204)

(5,157)

(1,112)

(2,454)

(4,776)

(4,182)

(1,190)

(1,821)

Fair value gain/(loss) on Convertible Notes derivative

383

3,309

(775)

3,246

(23,666)

(15,958)

411

(174)

(23,255)

$ (16,132)

$ 7,702

96,284

131,388

151,000

138,838

(57,144)

(87,459)

(83,525)

(79,031)

39,140

43,929

67,475

59,807

(2,383)

(4,131)

(4,090)

(4,691)

(8,082)

(12,851)

(13,002)

(13,940)

(3,306)

757

(2,423)

4,700

Brand transition, restructure and transaction expenses

(2,126)

(24,053)

10,470

3,420

(1,321)

(3,272)

(2,232)

(12,182)

(6,238)

(8,791)

(10,409)

(5,870)

Fair value gain/(loss) on foreign exchange contracts

(292)

(1,914)

(2,157)

2,135

(502)

7,660

(6,330)

Fair value gain/(loss) on Convertible Notes derivative

(592)

2,393

(15,114)

(37,533)

(15,200)

(14,379)

(865)

(60)

(5,546)

1,274

Bendon Limited [Member] | Operating Segments [Member]

$ 26,094

(15,979)

(37,593)

(20,746)

(13,105)

96,284

131,286

143,290

138,814

102

7,702

96,284

131,388

151,000

138,838

(57,144)

(87,459)

(83,525)

(79,031)

39,140

43,929

67,475

59,807

^[1]

(32,040)

(47,354)

(48,362)

(42,203)

(541)

(1,101)

(801)

(441)

(8,082)

(19,150)

(13,002)

(13,940)

(603)

(377)

5,160

197

Brand transition, restructure and transaction expenses

(2,126)

(24,053)

10,470

3,420

(1,321)

(3,272)

(2,232)

(12,182)

(6,238)

(8,791)

(10,409)

(5,870)

(292)

(1,914)

Fair value gain/(loss) on foreign exchange contracts

(1,842)

(3,030)

(5,446)

(4,250)

(2,135)

(502)

(7,660)

6,330

Fair value gain/(loss) on Convertible Notes derivative

(568)

1,636

(1,827)

(592)

2,393

(15,114)

(37,533)

(15,200)

(14,379)

(865)

(60)

(5,546)

1,274

Bendon Limited [Member] | New Zealand Retail [Member]

(15,979)

(37,593)

(20,746)

(13,105)

21,953

34,269

37,389

37,089

21,953

34,269

37,389

37,089

(9,707)

(16,488)

(16,053)

(16,270)

12,246

17,781

21,336

20,819

^[1]

(7,480)

(13,451)

(12,263)

(11,885)

Brand transition, restructure and transaction expenses

4,766

4,330

9,073

8,934

Fair value gain/(loss) on foreign exchange contracts

Fair value gain/(loss) on Convertible Notes derivative

4,766

4,330

9,073

8,934

Bendon Limited [Member] | Australia Retail [Member]

4,766

4,330

9,073

8,934

12,053

18,236

20,680

18,491

12,053

18,236

20,680

18,491

(5,592)

(9,457)

(8,930)

(8,066)

6,461

8,779

11,750

10,425

^[1]

(6,196)

(11,329)

(9,835)

(7,624)

Brand transition, restructure and transaction expenses

265

(2,550)

1,915

2,801

(281)

Fair value gain/(loss) on foreign exchange contracts

Fair value gain/(loss) on Convertible Notes derivative

(16)

(2,550)

1,915

2,801

Bendon Limited [Member] | New Zealand Wholesale [Member]

(16)

(2,550)

1,915

2,801

7,484

10,453

15,071

16,333

7,484

10,453

15,071

16,333

(4,961)

(8,213)

(10,721)

(10,978)

2,523

2,240

4,350

5,355

^[1]

(475)

(1,068)

(709)

(1,787)

Brand transition, restructure and transaction expenses

2,048

1,172

3,641

3,568

Fair value gain/(loss) on foreign exchange contracts

Fair value gain/(loss) on Convertible Notes derivative

2,048

1,172

3,641

3,568

Bendon Limited [Member] | Australia Wholesale [Member]

2,048

1,172

3,641

3,568

18,091

15,512

28,021

29,817

18,091

15,512

28,021

29,817

(11,431)

(12,545)

(18,056)

(18,461)

6,660

2,967

9,965

11,356

^[1]

(2,089)

(3,781)

(3,520)

(2,449)

Brand transition, restructure and transaction expenses

4,571

(814)

6,445

8,907

Fair value gain/(loss) on foreign exchange contracts

(2,157)

Fair value gain/(loss) on Convertible Notes derivative

4,571

(814)

4,288

8,907

Bendon Limited [Member] | US Wholesale [Member]

4,571

(814)

4,288

8,907

9,015

6,390

18,876

13,853

9,015

6,390

18,876

13,853

(6,934)

(6,438)

(14,540)

(10,929)

2,081

(48)

4,336

2,924

^[1]

(2,065)

(3,301)

(2,817)

(2,536)

Brand transition, restructure and transaction expenses

(3,349)

1,519

388

Fair value gain/(loss) on foreign exchange contracts

Fair value gain/(loss) on Convertible Notes derivative

(3,349)

1,519

388

Bendon Limited [Member] | Europe Wholesale [Member]

(3,349)

1,519

388

9,548

14,192

16,531

17,548

9,548

14,192

16,531

17,548

(6,277)

(10,221)

(11,658)

(11,258)

3,271

3,971

4,873

6,290

^[1]

(2,013)

(2,904)

(3,204)

(3,266)

Brand transition, restructure and transaction expenses

1,258

1,067

1,669

3,024

Fair value gain/(loss) on foreign exchange contracts

Fair value gain/(loss) on Convertible Notes derivative

1,258

1,067

1,669

3,024

Bendon Limited [Member] | E-Commerce [Member]

1,258

1,067

1,669

3,024

18,140

32,234

6,722

5,683

18,140

32,234

6,722

5,683

(11,902)

(20,974)

(3,582)

(3,072)

6,238

11,260

3,140

2,611

^[1]

(3,654)

(11,520)

(2,039)

(1,991)

Brand transition, restructure and transaction expenses

2,584

(260)

1,101

620

Fair value gain/(loss) on foreign exchange contracts

Fair value gain/(loss) on Convertible Notes derivative

2,584

(260)

1,101

620

Bendon Limited [Member] | Unallocated Amounts [Member]

2,584

(260)

1,101

$ 620

102

7,702

102

7,710

(340)

(3,123)

(340)

(3,021)

7,725

^[1]

(8,068)

(13,975)

(541)

(1,101)

(801)

(8,082)

(19,150)

(13,002)

(603)

(377)

5,160

Brand transition, restructure and transaction expenses

(17,634)

(23,649)

(14,893)

(1,321)

(3,272)

(2,232)

(6,238)

(8,791)

(10,409)

(11)

(1,914)

Fair value gain/(loss) on foreign exchange contracts

(1,842)

(3,030)

(3,289)

(2,135)

(502)

(7,660)

Fair value gain/(loss) on Convertible Notes derivative

(568)

1,636

(592)

2,393

(30,341)

(37,129)

(38,406)

(865)

(60)

(5,546)

$ (31,206)

$ (37,189)

$ (43,952)

[1]	Other segment expenses relate to brand management expenses and some corporate expenses.

Cash and Cash Equivalents - Schedule of Cash and Cash Equivalents (Details) (Bendon Limited) - NZD ($) $ in Thousands	Jul. 31, 2018	Jan. 31, 2018	Jul. 31, 2017	Jan. 31, 2017	Jun. 30, 2016	Jun. 30, 2015
CashAndCashEquivalentLineItems [Line Items]
Cash and cash equivalents	$ 4,173	$ 10,739	$ 3,464	$ 2,644
Bendon Limited [Member]
CashAndCashEquivalentLineItems [Line Items]
Cash on hand		54		48	$ 47	$ 52
Cash at bank		10,685		2,596	4,146	1,194
Cash and cash equivalents		$ 10,739		$ 2,644	$ 4,193	$ 1,246

Trade and Other Receivables - Schedule of Trade and Other Receivables (Details) (Bendon Limited) - Bendon Limited [Member] - NZD ($) $ in Thousands	Jan. 31, 2018	Jan. 31, 2017	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
TradeAndOtherReceivablesLineItems [Line Items]
Trade receivables	$ 9,982	$ 26,499	$ 20,603	$ 16,020
Provision for impairment	(326)	(537)	(268)	(340)	$ (368)
Trade Receivables Net	9,656	25,962	20,335	15,680
Prepayments	1,792	1,779	2,659	935
Other receivables	1,717	349	347	206
Trade and other receivables	$ 13,165	$ 28,090	$ 23,341	$ 16,821

Trade and Other Receivables - Disclosure of Impairment Loss and Reversal of Impairment Loss (Details) (Bendon Limited) - Bendon Limited [Member] - NZD ($) $ in Thousands	7 Months Ended	12 Months Ended
	Jan. 31, 2017	Jan. 31, 2018	Jun. 30, 2016	Jun. 30, 2015
TradeAndOtherReceivablesLineItems [Line Items]
Balance at beginning of the period	$ (268)	$ (537)	$ (340)	$ (368)
Provision charged	(364)	(92)	(16)
Reversal of impairment	80	316	88	28
Foreign exchange movement	15	(13)
Balance at end of the period	$ (537)	$ (326)	$ (268)	$ (340)

Trade and Other Receivables - Analysis of Age of Financial Assets That are Past Due but Not Impaired (Details) (Bendon Limited) - Bendon Limited [Member] - NZD ($) $ in Thousands	Jan. 31, 2018	Jan. 31, 2017	Jun. 30, 2016	Jun. 30, 2015
TradeAndOtherReceivablesLineItems [Line Items]
Trade receivables	$ 9,982	$ 26,499	$ 20,603	$ 16,020
0-30 Days [Member]
TradeAndOtherReceivablesLineItems [Line Items]
Trade receivables	7,945	14,883	12,769	14,209
31-60 Days [Member]
TradeAndOtherReceivablesLineItems [Line Items]
Trade receivables	335	2,566	1,934	466
61-90 Days [Member] \| Past Due Not Impaired [Member]
TradeAndOtherReceivablesLineItems [Line Items]
Trade receivables	489	2,166	1,081	472
61-90 Days [Member] \| Considered Impaired [Member]
TradeAndOtherReceivablesLineItems [Line Items]
Trade receivables
91+ Days [Member] \| Past Due Not Impaired [Member]
TradeAndOtherReceivablesLineItems [Line Items]
Trade receivables	1,213	6,884	4,551	533
91+ Days [Member] \| Considered Impaired [Member]
TradeAndOtherReceivablesLineItems [Line Items]
Trade receivables			$ 268	$ 340

Trade and Other Receivables - Disclosure of Transfers of Financial Assets (Details) (Bendon Limited) - NZD ($) $ in Thousands	Jan. 31, 2018	Jan. 31, 2017	Jun. 30, 2016
Bendon Limited [Member]
TradeAndOtherReceivablesLineItems [Line Items]
Transferred receivables	$ 9,790	$ 11,649	$ 14,599

Inventories (Details Narrative) (Bendon Limited) - NZD ($)	7 Months Ended	12 Months Ended
	Jan. 31, 2017	Jan. 31, 2018	Jun. 30, 2016	Jun. 30, 2015
Bendon Limited [Member]
DisclosureOfInventoriesLineItems [Line Items]
Inventory write-down		$ 298,098

Inventories - Disclosure of Detailed Information About Inventories (Details) (Bendon Limited) - NZD ($) $ in Thousands	Jul. 31, 2018	Jan. 31, 2018	Jan. 31, 2017	Jun. 30, 2016	Jun. 30, 2015
DisclosureOfInventoriesLineItems [Line Items]
Current inventories	$ 24,030	$ 31,113
Bendon Limited [Member]
DisclosureOfInventoriesLineItems [Line Items]
Finished goods		31,451	$ 37,904	$ 37,998	$ 46,424
Provision for impairment		(338)	(153)	(426)	(764)
Current inventories		$ 31,113	$ 37,751	$ 37,572	$ 45,660

Property, Plant and Equipment - Disclosure of Detailed Information About Property, Plant and Equipment (Details) - NZD ($) $ in Thousands	Jul. 31, 2018	Jan. 31, 2018	Jul. 31, 2017
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	$ 4,054	$ 4,741	$ 4,277
Plant, Furniture, Fittings and Motor Vehicles [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	488	2,013	1,736
Plant, Furniture, Fittings and Motor Vehicles [Member] \| At Cost [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	26,461	27,801
Plant, Furniture, Fittings and Motor Vehicles [Member] \| Accumulated Amortisation and Impairment [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	(25,973)	(25,789)
Leasehold Improvements [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	3,566	2,728	$ 2,541
Leasehold Improvements [Member] \| At Cost [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	12,254	10,762
Leasehold Improvements [Member] \| Accumulated Amortisation and Impairment [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	$ (8,688)	$ (8,034)

Property, Plant and Equipment - Disclosure of Detailed Information About Movements in Carrying Amounts of Property, Plant and Equipment (Details) - NZD ($) $ in Thousands	6 Months Ended
	Jul. 31, 2018	Jan. 31, 2018
Disclosure of detailed information about property, plant and equipment [line items]
Balance at the beginning of the period	$ 4,741	$ 4,277
Additions	448	1,694
Disposals	(301)
Depreciation expense	(1,070)	(1,326)
Impairment	(28)	(111)
Foreign exchange movements	264	207
Balance at the end of the year	4,054	4,741
Leasehold Improvements [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance at the beginning of the period	2,728	2,541
Additions	1,362	227
Disposals
Depreciation expense	(501)	(238)
Impairment
Foreign exchange movements	(23)	198
Balance at the end of the year	3,566	2,728
Plant, Furniture, Fittings and Motor Vehicles [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance at the beginning of the period	2,013	1,736
Additions	(914)	1,467
Disposals	(301)
Depreciation expense	(569)	(1,088)
Impairment	(28)	(111)
Foreign exchange movements	287	9
Balance at the end of the year	$ 488	$ 2,013

Property, Plant and Equipment - Disclosure of Detailed Information About Property, Plant and Equipment (Details) (Bendon Limited) - NZD ($) $ in Thousands	Jul. 31, 2018	Jan. 31, 2018	Jul. 31, 2017	Jan. 31, 2017	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	$ 4,054	$ 4,741	$ 4,277
Plant, Furniture, Fittings and Motor Vehicles [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	488	2,013	1,736
Plant, Furniture, Fittings and Motor Vehicles [Member] \| At Cost [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	26,461	27,801
Plant, Furniture, Fittings and Motor Vehicles [Member] \| Accumulated Amortisation and Impairment [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	(25,973)	(25,789)
Leasehold Improvements [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	3,566	2,728	$ 2,541
Leasehold Improvements [Member] \| At Cost [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	12,254	10,762
Leasehold Improvements [Member] \| Accumulated Amortisation and Impairment [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	$ (8,688)	(8,034)
Bendon Limited [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment		4,741		$ 4,964	$ 6,209	$ 6,853	$ 5,340
Bendon Limited [Member] \| Plant, Furniture, Fittings and Motor Vehicles [Member] \| At Cost [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment		27,801		25,455	26,269	24,687
Bendon Limited [Member] \| Plant, Furniture, Fittings and Motor Vehicles [Member] \| Accumulated Amortisation and Impairment [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment		(25,788)		(23,182)	(22,855)	(21,176)
Bendon Limited [Member] \| Plant, Furniture, Fittings and Motor Vehicles [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment		2,013		2,273	3,414	3,511	1,038
Bendon Limited [Member] \| Leasehold Improvements [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment		2,728		2,691	2,795	3,342	$ 3,841
Bendon Limited [Member] \| Leasehold Improvements [Member] \| At Cost [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment		10,762		10,132	10,640	11,111
Bendon Limited [Member] \| Leasehold Improvements [Member] \| Accumulated Amortisation and Impairment [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment		$ (8,034)		$ (7,441)	$ (7,845)	$ (7,769)

Property, Plant and Equipment - Disclosure of Detailed Information About Movements in Carrying Amounts of Property, Plant and Equipment (Details) (Bendon Limited) - NZD ($) $ in Thousands	6 Months Ended		7 Months Ended	12 Months Ended
	Jul. 31, 2018	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2018	Jun. 30, 2016	Jun. 30, 2015
Disclosure of detailed information about property, plant and equipment [line items]
Balance at the beginning of the period	$ 4,741	$ 4,277
Additions	448	1,694
Disposals	(301)
Depreciation expense	(1,070)	(1,326)
Foreign exchange movements	264	207
Impairment	(28)	(111)
Balance at the end of the year	4,054	4,741		$ 4,741
Leasehold Improvements [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance at the beginning of the period	2,728	2,541
Additions	1,362	227
Disposals
Depreciation expense	(501)	(238)
Foreign exchange movements	(23)	198
Impairment
Balance at the end of the year	3,566	2,728		2,728
Bendon Limited [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance at the beginning of the period	4,741		$ 6,209	4,964	$ 6,853	$ 5,340
Additions			723	2,317	2,703	4,701
Disposals				(122)
Depreciation expense			(1,664)	(2,724)	(2,966)	(3,360)
Foreign exchange movements			(23)	306	(381)	172
Impairment			(281)
Balance at the end of the year		4,741	4,964	4,741	6,209	6,853
Bendon Limited [Member] \| Leasehold Improvements [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance at the beginning of the period	2,728		2,795	2,691	3,342	3,841
Additions			241	285	205	96
Disposals				(4)
Depreciation expense			(296)	(496)	(469)	(657)
Foreign exchange movements			(49)	252	(283)	62
Impairment
Balance at the end of the year		2,728	2,691	2,728	2,795	3,342
Bendon Limited [Member] \| Plant, Furniture, Fittings and Motor Vehicles [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance at the beginning of the period	$ 2,013		3,414	2,273	3,511	1,038
Additions			482	2,032	2,498	4,605
Disposals				(118)
Depreciation expense			(1,368)	(2,228)	(2,497)	(2,242)
Foreign exchange movements			26	54	(98)	110
Impairment			(281)
Balance at the end of the year		$ 2,013	$ 2,273	$ 2,013	3,414	3,511
Bendon Limited [Member] \| Property, Plant and Equipment Under Finance Leases [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance at the beginning of the period						461
Additions
Depreciation expense						(461)
Foreign exchange movements
Balance at the end of the year

Intangible Assets (Details Narrative) - NZD ($) $ in Thousands	6 Months Ended		7 Months Ended	12 Months Ended
	Jul. 31, 2018	Jul. 31, 2017	Jan. 31, 2017	Jan. 31, 2018	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Disclosure of detailed information about intangible assets [line items]
Intangible assets	$ 17,287	$ 14,699		$ 13,012
Impairment of brand	$ 696
Sales growth rate used to extrapolate cash flow projections	2.50%			5.00%
Royalty rate	6.60%			6.60%
Cash flow forecast period	5 years			5 years
Discount rate applied to cash flow projections	11.40%			11.40%
Growth rate used to extrapolate cash flow projections	2.00%			2.00%
Increase in post-tax discount rate	2.10%			1.50%
Decrease in sales growth rate	0.00%			2.00%
Impairment of intangible assets	$ 1,739			$ 929
Impact of possible changes in key assumptions used in impairment test calculations	A reduction of the sales growth rate to 0% would result in an impairment of $1,341 thousand (31 January 2018: a reduction to 2% would result an impairment of $611 thousand) against the carrying amount of the indefinite-lived brand intangible assets.
Impairment loss recognised in profit or loss, goodwill	$ 3,399
Bendon Limited [Member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets			$ 14,680	$ 13,012	$ 14,575	$ 17,381	$ 16,683
Increase in post-tax discount rate				1.50%
Decrease in sales growth rate				2.00%
Impact of possible changes in key assumptions used in impairment test calculations				A 1.5% increase in the post-tax discount rate would result in an impairment of $928 thousand against the carrying amount of the indefinite-lived brand intangibles. A reduction of the sales growth rate to 2% would result in an impairment of $611 thousand against the carrying amount of the indefinite-lived brand intangible assets. A 1.5% reduction in the royalty rate would result in an impairment of $2,267 thousand against the carrying amount of the indefinite-lived brand intangibles.
Impairment loss recognised in profit or loss, goodwill					2,157
Amount of fair value less costs					2,200
United States [Member]
Disclosure of detailed information about intangible assets [line items]
Discount rate applied to cash flow projections	10.25%
Growth rate used to extrapolate cash flow projections	2.00%
EBITDA growth rate	10.00%
Brands [Member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets	$ 14,395	12,206		12,463
Brands [Member] \| Bendon Limited [Member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets			$ 12,036	$ 12,463	$ 12,105	$ 12,702	12,274
Sales growth rate used to extrapolate cash flow projections			5.00%	5.00%	5.00%	2.00%
Royalty rate			6.60%	6.60%	6.60%	6.60%
Cash flow forecast period			5 years	5 years	5 years	5 years
Increase in post-tax discount rate			11.40%	11.40%	11.40%	11.40%
Decrease in sales growth rate			2.00%	2.00%	2.00%	0.00%
Goodwill [Member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets	$ 2,399
Increase in post-tax discount rate	3.25%
Decrease in sales growth rate	5.00%
Impact of possible changes in key assumptions used in impairment test calculations	A reduction of the sales growth rate to 5% would result in an impairment of $566 thousand against the carrying amount of the goodwill.
Impairment loss recognised in profit or loss, goodwill	$ 1,833
Goodwill [Member] \| Bendon Limited [Member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets						$ 2,347	$ 2,211

Intangible Assets - Disclosure of Detailed Information about Intangible Assets (Details) - NZD ($) $ in Thousands	Jul. 31, 2018	Jan. 31, 2018	Jul. 31, 2017
Disclosure of detailed information about intangible assets [line items]
Total intangible assets and goodwill	$ 17,287	$ 13,012	$ 14,699
Patents and Licences [Member]
Disclosure of detailed information about intangible assets [line items]
Total intangible assets and goodwill	217	201	536
Patents and Licences [Member] \| At Cost [Member]
Disclosure of detailed information about intangible assets [line items]
Total intangible assets and goodwill	1,037	919
Patents and Licences [Member] \| Accumulated Amortisation and Impairment [Member]
Disclosure of detailed information about intangible assets [line items]
Total intangible assets and goodwill	(820)	(718)
Brands [Member]
Disclosure of detailed information about intangible assets [line items]
Total intangible assets and goodwill	14,395	12,463	12,206
Brands [Member] \| At Cost [Member]
Disclosure of detailed information about intangible assets [line items]
Total intangible assets and goodwill	15,091	12,463
Brands [Member] \| Impairment [Member]
Disclosure of detailed information about intangible assets [line items]
Total intangible assets and goodwill	(696)
Software [Member]
Disclosure of detailed information about intangible assets [line items]
Total intangible assets and goodwill	276	348	1,957
Software [Member] \| At Cost [Member]
Disclosure of detailed information about intangible assets [line items]
Total intangible assets and goodwill	15,729	15,788
Software [Member] \| Accumulated Amortisation and Impairment [Member]
Disclosure of detailed information about intangible assets [line items]
Total intangible assets and goodwill	(15,453)	(15,440)
Goodwill [Member]
Disclosure of detailed information about intangible assets [line items]
Total intangible assets and goodwill	2,399
Goodwill [Member] \| At Cost [Member]
Disclosure of detailed information about intangible assets [line items]
Total intangible assets and goodwill	5,798
Goodwill [Member] \| Impairment [Member]
Disclosure of detailed information about intangible assets [line items]
Total intangible assets and goodwill	$ (3,399)

Intangible Assets - Disclosure of Detailed Information about Movements in Carrying Amounts of Intangible Assets (Details) - NZD ($) $ in Thousands	6 Months Ended
	Jul. 31, 2018	Jan. 31, 2018
Disclosure of detailed information about intangible assets [line items]
Balance at the beginning of the year	$ 13,012	$ 14,699
Additions	8,675	101
Disposals	(22)
Amortisation	(120)	(135)
Impairment (refer note 9e)	(4,159)	(1,914)
Foreign exchange movements	(99)	261
Closing value end of the year	17,287	13,012
Goodwill [Member]
Disclosure of detailed information about intangible assets [line items]
Balance at the beginning of the year
Additions	5,798
Disposals
Amortisation
Impairment (refer note 9e)	(3,399)
Foreign exchange movements
Closing value end of the year	2,399
Software [Member]
Disclosure of detailed information about intangible assets [line items]
Balance at the beginning of the year	348	1,957
Additions	32	101
Disposals	(22)
Amortisation	(17)	(64)
Impairment (refer note 9e)	(64)	(1,650)
Foreign exchange movements	(1)	4
Closing value end of the year	276	348
Patents and Licences [Member]
Disclosure of detailed information about intangible assets [line items]
Balance at the beginning of the year	201	536
Additions	119
Disposals
Amortisation	(103)	(71)
Impairment (refer note 9e)		(264)
Foreign exchange movements		0
Closing value end of the year	217	201
Brands [Member]
Disclosure of detailed information about intangible assets [line items]
Balance at the beginning of the year	12,463	12,206
Additions	2,726
Disposals
Amortisation
Impairment (refer note 9e)	(696)
Foreign exchange movements	(98)	257
Closing value end of the year	$ 14,395	$ 12,463

Intangible Assets - Disclosure of Information for Cash-generating Units (Details) - NZD ($) $ in Thousands	6 Months Ended
	Jul. 31, 2018	Jul. 31, 2017
Disclosure of detailed information about intangible assets [line items]
Goodwill	$ 2,399
Impairment expense	(3,399)
United States [Member]
Disclosure of detailed information about intangible assets [line items]
Goodwill	$ 5,798

Intangible Assets (Details Narrative) (Bendon Limited) - NZD ($) $ in Thousands	6 Months Ended		7 Months Ended	12 Months Ended
	Jul. 31, 2018	Jul. 31, 2017	Jan. 31, 2017	Jan. 31, 2018	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Disclosure of detailed information about intangible assets [line items]
Impairment loss recognised in profit or loss, goodwill	$ (3,399)
Pre-tax discount rate	11.40%			11.40%
Terminal growth	2.00%			2.00%
Intangible assets	$ 17,287	14,699		$ 13,012
Sales growth rate used to extrapolate cash flow projections	2.50%			5.00%
Royalty rate	6.60%			6.60%
Cash flow forecast period	5 years			5 years
Increase in post-tax discount rate	2.10%			1.50%
Decrease in sales growth rate	0.00%			2.00%
Impact of possible changes in key assumptions used in impairment test calculations	A reduction of the sales growth rate to 0% would result in an impairment of $1,341 thousand (31 January 2018: a reduction to 2% would result an impairment of $611 thousand) against the carrying amount of the indefinite-lived brand intangible assets.
Brands [Member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets	$ 14,395	$ 12,206		$ 12,463
Bendon Limited [Member]
Disclosure of detailed information about intangible assets [line items]
Impairment loss recognised in profit or loss, goodwill					$ (2,157)
Intangible assets			14,680	$ 13,012	14,575	17,381	$ 16,683
Increase in post-tax discount rate				1.50%
Decrease in sales growth rate				2.00%
Decrease in royalty rate				1.50%
Impact of possible changes in key assumptions used in impairment test calculations				A 1.5% increase in the post-tax discount rate would result in an impairment of $928 thousand against the carrying amount of the indefinite-lived brand intangibles. A reduction of the sales growth rate to 2% would result in an impairment of $611 thousand against the carrying amount of the indefinite-lived brand intangible assets. A 1.5% reduction in the royalty rate would result in an impairment of $2,267 thousand against the carrying amount of the indefinite-lived brand intangibles.
Bendon Limited [Member] \| Brands [Member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets			$ 12,036	$ 12,463	$ 12,105	$ 12,702	$ 12,274
Sales growth rate used to extrapolate cash flow projections			5.00%	5.00%	5.00%	2.00%
Royalty rate			6.60%	6.60%	6.60%	6.60%
Cash flow forecast period			5 years	5 years	5 years	5 years
Increase in post-tax discount rate			11.40%	11.40%	11.40%	11.40%
Decrease in sales growth rate			2.00%	2.00%	2.00%	0.00%
Bendon Limited [Member] \| Australia [Member]
Disclosure of detailed information about intangible assets [line items]
Annualised restructuring savings				$ 1,035
Pre-tax discount rate				12.70%
Terminal growth				3.50%

Intangible Assets - Disclosure of Detailed Information About Movements in Carrying Amounts of Intangible Assets (Details) (Bendon Limited) - NZD ($) $ in Thousands	6 Months Ended		7 Months Ended	12 Months Ended
	Jul. 31, 2018	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2018	Jun. 30, 2016	Jun. 30, 2015
Disclosure of detailed information about intangible assets [line items]
Balance at the beginning of the year	$ 13,012	$ 14,699
Additions	8,675	101
Amortisation	(120)	(135)
Impairment (refer note 12(c )	(4,159)	(1,914)
Foreign exchange movements	(99)	261
Closing value end of the year	17,287	13,012		$ 13,012
Software [Member]
Disclosure of detailed information about intangible assets [line items]
Balance at the beginning of the year	348	1,957
Additions	32	101
Amortisation	(17)	(64)
Impairment (refer note 12(c )	(64)	(1,650)
Foreign exchange movements	(1)	4
Closing value end of the year	276	348		348
Patents and Licences [Member]
Disclosure of detailed information about intangible assets [line items]
Balance at the beginning of the year	201	536
Additions	119
Amortisation	(103)	(71)
Impairment (refer note 12(c )		(264)
Foreign exchange movements		0
Closing value end of the year	217	201		201
Brands [Member]
Disclosure of detailed information about intangible assets [line items]
Balance at the beginning of the year	12,463	12,206
Additions	2,726
Amortisation
Impairment (refer note 12(c )	(696)
Foreign exchange movements	(98)	257
Closing value end of the year	14,395	12,463		12,463
Goodwill [Member]
Disclosure of detailed information about intangible assets [line items]
Balance at the beginning of the year
Additions	5,798
Amortisation
Impairment (refer note 12(c )	(3,399)
Foreign exchange movements
Closing value end of the year	2,399
Bendon Limited [Member]
Disclosure of detailed information about intangible assets [line items]
Balance at the beginning of the year	13,012		$ 14,575	14,680	$ 17,381	$ 16,683
Additions			351	118	475	1,093
Amortisation			(178)	(306)	(323)	(891)
Impairment (refer note 12(c )				(1,914)	(2,157)
Foreign exchange movements			(68)	434	(801)	496
Closing value end of the year		13,012	14,680	13,012	14,575	17,381
Bendon Limited [Member] \| Software [Member]
Disclosure of detailed information about intangible assets [line items]
Balance at the beginning of the year	348		2,196	2,048	2,315	2,081
Additions				106	211	1,093
Amortisation			(148)	(163)	(316)	(787)
Impairment (refer note 12(c )				(1,650)
Foreign exchange movements				7	(14)	(72)
Closing value end of the year		348	2,048	348	2,196	2,315
Bendon Limited [Member] \| Patents and Licences [Member]
Disclosure of detailed information about intangible assets [line items]
Balance at the beginning of the year	201		274	596	17	117
Additions			351	12	264
Amortisation			(30)	(143)	(7)	(104)
Impairment (refer note 12(c )				(264)
Foreign exchange movements			1			4
Closing value end of the year		201	596	201	274	17
Bendon Limited [Member] \| Brands [Member]
Disclosure of detailed information about intangible assets [line items]
Balance at the beginning of the year	12,463		12,105	12,036	12,702	12,274
Additions
Amortisation
Impairment (refer note 12(c )
Foreign exchange movements			(69)	427	(597)	428
Closing value end of the year		12,463	12,036	12,463	12,105	12,702
Bendon Limited [Member] \| Goodwill [Member]
Disclosure of detailed information about intangible assets [line items]
Balance at the beginning of the year					2,347	2,211
Additions
Amortisation
Impairment (refer note 12(c )					(2,157)
Foreign exchange movements					(190)	136
Closing value end of the year						$ 2,347

Intangible Assets - Disclosure of Information for Cash-generating Units (Details) (Bendon Limited) - NZD ($) $ in Thousands	6 Months Ended		7 Months Ended	12 Months Ended
	Jul. 31, 2018	Jul. 31, 2017	Jan. 31, 2017	Jan. 31, 2018	Jun. 30, 2016	Jun. 30, 2015
Disclosure of detailed information about intangible assets [line items]
Impairment expense	$ (3,399)
Goodwill, net	$ 2,399
Bendon Limited [Member]
Disclosure of detailed information about intangible assets [line items]
Impairment expense					$ (2,157)
Goodwill, net						2,347
Bendon Limited [Member] \| Australia [Member]
Disclosure of detailed information about intangible assets [line items]
Goodwill, gross					$ 2,157	$ 2,347

Derivative Financial Instruments - Schedule of Derivative Financial Instruments (Details) - NZD ($) $ in Thousands	Jul. 31, 2018	Jan. 31, 2018	Jun. 30, 2015
Derivative Financial Instruments
Current assets, Forward exchange contracts	$ 220		$ 2,289
Current liabilities, Forward exchange contracts		$ 2,087	$ 1

Derivative Financial Instruments - Disclosure of Fair Value of Financial Instruments (Details) (Bendon Limited) - NZD ($) $ in Thousands	Jul. 31, 2018	Jan. 31, 2018	Jan. 31, 2017	Jun. 30, 2016	Jun. 30, 2015
DisclosureOfDerivativeOnConvertibleNotesLineItems [Line Items]
Current assets, Forward exchange contracts	$ 220				$ 2,289
Current liabilities, Forward exchange contracts		2,087			1
Bendon Limited [Member]
DisclosureOfDerivativeOnConvertibleNotesLineItems [Line Items]
Current assets, Forward exchange contracts					2,289
Current liabilities, Forward exchange contracts		$ 2,087	$ 4,188	$ 5,531	$ 1

Derivative on Convertible Notes - Disclosure of Detailed Information About Derivative on Convertible Notes (Details) (Bendon Limited) - NZD ($) $ in Thousands	Jan. 31, 2018	Jan. 31, 2017
DisclosureOfDerivativeOnConvertibleNotesLineItems [Line Items]
Derivative on Convertible Notes	$ 1,110
Bendon Limited [Member]
DisclosureOfDerivativeOnConvertibleNotesLineItems [Line Items]
Derivative on Convertible Notes	$ 1,110	$ 4,112

Trade and Other Payables - Disclosure of Detailed Information About Trade and Other Current Payables (Details) - NZD ($) $ in Thousands	Jul. 31, 2018	Jan. 31, 2018
Trade And Other Payables
Trade payables	$ 24,438	$ 21,143
Accruals	8,061	9,568
Employee benefits liabilities	2,234	1,805
Trade and other current payables	$ 34,734	$ 32,516

Trade and Other Payables - Disclosure of Detailed Information About Trade and Other Current Payables (Details) (Bendon Limited) - NZD ($) $ in Thousands	Jul. 31, 2018	Jan. 31, 2018	Jan. 31, 2017	Jun. 30, 2016	Jun. 30, 2015
DisclosureOfTradeAndOtherPayablesLineItems [Line Items]
Trade payables	$ 24,438	$ 21,143
Accruals	8,061	9,568
Employee benefit liabilities	2,234	1,805
Trade and other current payables	$ 34,734	32,516
Bendon Limited [Member]
DisclosureOfTradeAndOtherPayablesLineItems [Line Items]
Trade payables		21,143	$ 19,221	$ 18,357	$ 25,302
Accruals		9,568	7,503	6,934	9,096
Employee benefit liabilities		1,805	1,842	1,524	2,152
Trade and other current payables		$ 32,516	$ 28,566	$ 26,815	$ 36,550

Trade and Other Payables - Disclosure of Detailed Information About Trade and Other Non Current Payables (Details) (Bendon Limited) - NZD ($) $ in Thousands	Jun. 30, 2016	Jun. 30, 2015
Bendon Limited [Member]
DisclosureOfTradeAndOtherPayablesLineItems [Line Items]
Employee benefit liabilities	$ 118	$ 150

Borrowings (Details Narrative)			6 Months Ended
Borrowings (Details Narrative)	Jun. 19, 2018 NZD ($) shares	Jun. 19, 2018 USD ($) shares	Jul. 31, 2018 NZD ($)	Jul. 31, 2018 USD ($)	Jul. 31, 2017 NZD ($)	Jun. 13, 2018 NZD ($)	Jan. 31, 2018 NZD ($)
DisclosureOfBorrowingsLineItems [Line Items]
Borrowings, maturity date			Jan. 31, 2019	Jan. 31, 2019
Borrowings, interest rate							15.00%
Borrowings converted amount	$ 4,200,000		$ 1,420,000
Current shareholder loans							$ 10,951,000
Convertible notes converted into ordinary shares \| shares	16,408	16,408
Current borrowing amount			$ 1,247,000
USD [Member]
DisclosureOfBorrowingsLineItems [Line Items]
Borrowings converted amount		$ 2,800,000		$ 1,000,000
Bendon Limited [Member]
DisclosureOfBorrowingsLineItems [Line Items]
Increase decrease in shares through conversion of convertible instruments, equity \| shares	24,221	24,221
Borrowings converted amount	$ 12,244,208
Bank of New Zealand [Member]
DisclosureOfBorrowingsLineItems [Line Items]
Description of borrowings			The new facility is subject to four undertakings being: Interest cover ratio of three times that is first tested as at 30 April 2019; gross EBITDA ratio measured to 3 months to September 2018 had to be greater than $0, six months to 30 December 2018 is greater than $3 million; inventory and receivables ratio must be greater than 2 times being first measured as at 30 September 2018; and the actual sales and gross margin must not vary by more than 10% from the budget submitted to the Bank.	The new facility is subject to four undertakings being: Interest cover ratio of three times that is first tested as at 30 April 2019; gross EBITDA ratio measured to 3 months to September 2018 had to be greater than $0, six months to 30 December 2018 is greater than $3 million; inventory and receivables ratio must be greater than 2 times being first measured as at 30 September 2018; and the actual sales and gross margin must not vary by more than 10% from the budget submitted to the Bank.
Term loan facility [Member]
DisclosureOfBorrowingsLineItems [Line Items]
Notional amount			$ 20,000,000
Borrowings, maturity date			Jun. 14, 2019	Jun. 14, 2019
Borrowings, interest rate			5.66%				5.55%
Term loan facility [Member] \| Bank of New Zealand [Member]
DisclosureOfBorrowingsLineItems [Line Items]
Notional amount						$ 20,000,000	$ 38,489,428
New Term Loan Facility [Member] \| Bank of New Zealand [Member]
DisclosureOfBorrowingsLineItems [Line Items]
Notional amount						$ 1,345,000
Shareholder loan [Member]
DisclosureOfBorrowingsLineItems [Line Items]
Borrowings, interest rate			30.00%				30.00%
Interest costs capitalised			$ 1,061,588		$ 1,291,962

Borrowings - Disclosure of Detailed Information About Borrowings (Details) - NZD ($) $ in Thousands	Jul. 31, 2018	Jan. 31, 2018
Borrowings - Disclosure Of Detailed Information About Borrowings
Shareholder loans		$ 10,951
Bank loans	20,000	16,000
Debt issuance costs in relation to bank loan	(80)	(218)
Working capital financing bank facility		22,489
Convertible notes		1,740
Loan note	1,247	1,159
Current borrowings and current portion of non-current borrowings	$ 21,167	$ 52,121

Borrowings (Details Narrative) (Bendon Limited)										1 Months Ended		6 Months Ended			7 Months Ended	12 Months Ended
Borrowings (Details Narrative) (Bendon Limited)	Jun. 19, 2018 NZD ($)	Jun. 19, 2018 USD ($)	Sep. 29, 2017 NZD ($) shares	Sep. 29, 2017 USD ($) shares	Aug. 31, 2017 NZD ($)	Aug. 07, 2017 NZD ($)	Aug. 04, 2017 NZD ($)	Sep. 29, 2016 NZD ($) shares	Jun. 27, 2016 NZD ($)	Dec. 31, 2017	Sep. 30, 2017	Jul. 31, 2018 NZD ($)	Jul. 31, 2018 USD ($)	Jul. 31, 2017 NZD ($)	Jan. 31, 2017 NZD ($)	Jan. 31, 2018 NZD ($)	Jun. 30, 2016 NZD ($)	Jun. 30, 2015 NZD ($)	Jan. 31, 2018 USD ($)	Aug. 09, 2017	Jan. 31, 2017 USD ($)
DisclosureOfBorrowingsLineItems [Line Items]
Borrowings, maturity date												Jan. 31, 2019	Jan. 31, 2019
Borrowings, interest rate																15.00%			15.00%
Current shareholder loans																$ 10,951,000
Borrowings converted amount	$ 4,200,000											1,420,000
Current convertible notes																$ 1,740,000
USD [Member]
DisclosureOfBorrowingsLineItems [Line Items]
Borrowings converted amount		$ 2,800,000											$ 1,000,000
Term loan facility [Member]
DisclosureOfBorrowingsLineItems [Line Items]
Notional amount												$ 20,000,000
Borrowings, maturity date												Jun. 14, 2019	Jun. 14, 2019
Borrowings, interest rate												5.66%				5.55%			5.55%
Shareholder loan [Member]
DisclosureOfBorrowingsLineItems [Line Items]
Borrowings, interest rate												30.00%				30.00%			30.00%
Interest costs capitalised												$ 1,061,588		$ 1,291,962
Bendon Limited [Member]
DisclosureOfBorrowingsLineItems [Line Items]
Notional amount																$ 3,544,649
Borrowings, interest rate																7.00%			7.00%
Gearing ratio										5.96	6.45
Decrease in borrowing facility					$ 4,300,000	$ 270,000	$ 180,000
Increase in margin percentage																2.00%
Increase in line fee percentage																1.00%
Current shareholder loans															$ 8,200,000	$ 10,951,000	$ 29,281,000	$ 16,918,000
Increase decrease in shares through conversion of convertible instruments, equity \| shares								24,839
Borrowings converted amount								$ 24,839,783
Other current borrowings and current portion of other non-current borrowings																1,159,000
Current convertible notes															$ 13,744,000	$ 1,740,000
Bendon Limited [Member] \| USD [Member]
DisclosureOfBorrowingsLineItems [Line Items]
Notional amount																			$ 2,600,000
Bendon Limited [Member] \| Term loan facility [Member]
DisclosureOfBorrowingsLineItems [Line Items]
Notional amount									$ 16,000,000
Borrowings, maturity date									Jun. 27, 2018
Borrowings, interest rate															4.84%	5.55%	4.77%		5.55%		4.84%
Bendon Limited [Member] \| Interchangeable facility [Member]
DisclosureOfBorrowingsLineItems [Line Items]
Notional amount															$ 31,710,000	$ 22,489,428	$ 32,877,397
Borrowings, interest rate															3.87%	5.32%			5.32%		3.87%
Maximum borrowing amount																$ 35,000,000
Bendon Limited [Member] \| Shareholder loan [Member]
DisclosureOfBorrowingsLineItems [Line Items]
Borrowings, interest rate															30.00%	30.00%	30.00%	30.00%	30.00%		30.00%
Interest costs capitalised															$ 6,436,987	$ 2,806,945	$ 7,042,000	$ 3,192,000
Bendon Limited [Member] \| Convertible notes [Member]
DisclosureOfBorrowingsLineItems [Line Items]
Notional amount															$ 16,474,465	$ 3,624,198
Borrowings, maturity date																Aug. 10, 2019
Borrowings, interest rate																				10.00%
Increase decrease in shares through conversion of convertible instruments, equity \| shares			23,961	23,961
Borrowings converted amount			$ 16,790,000
Bendon Limited [Member] \| Convertible notes [Member] \| USD [Member]
DisclosureOfBorrowingsLineItems [Line Items]
Notional amount																			$ 2,600,000		$ 12,000,000
Borrowings converted amount				$ 11,750,000
Bendon Limited [Member] \| Other Loan [Member]
DisclosureOfBorrowingsLineItems [Line Items]
Interest costs capitalised			$ 1,420,000
Bendon Limited [Member] \| Other Loan [Member] \| USD [Member]
DisclosureOfBorrowingsLineItems [Line Items]
Interest costs capitalised				$ 1,000,000

Borrowings - Disclosure of Detailed Information About Borrowings (Details) (Bendon Limited) - NZD ($)	Jul. 31, 2018	Jan. 31, 2018	Jan. 31, 2017	Jun. 30, 2016	Jun. 30, 2015
DisclosureOfBorrowingsLineItems [Line Items]
Shareholder loans		$ 10,951,000
Bank loans	20,000,000	16,000,000
Debt issuance costs in relation to bank loan	(80,000)	(218,000)
Working capital financing bank facility		22,489,000
Convertible notes		1,740,000
Current borrowings and current portion of non-current borrowings	$ 21,167,000	52,121,000
Bendon Limited [Member]
DisclosureOfBorrowingsLineItems [Line Items]
Bank overdrafts					$ 18,064,000
Shareholder loans		10,951,000	8,200,000	29,281,000	16,918,000
Lease liability					105,000
Bank loans		16,000,000	16,000,000		17,841,000
Debt issuance costs in relation to bank loan		(218,000)	(656,000)	(565,000)	(42,000)
Working capital financing bank facility		22,489,000	31,710,000	32,877,000	3,387,000
Convertible notes		1,740,000	13,744,000
Other loan		1,159,000
Current borrowings and current portion of non-current borrowings		52,121,000	68,998,000	61,593,000	56,273,000
Bank loans				$ 16,000,000

Provisions (Details Narrative)	6 Months Ended	12 Months Ended
Provisions (Details Narrative)	Jul. 31, 2018	Jan. 31, 2018
Make Good Provision [Member]
ProvisionsLineItems [Line Items]
Pre-tax discount rate applied to provisions calculations	2.00%	2.00%

Provisions - Disclosure of Detailed Information About Provisions (Details) - NZD ($) $ in Thousands	Jul. 31, 2018	Jan. 31, 2018
ProvisionsLineItems [Line Items]
Current provisions	$ 1,393	$ 1,106
Non-current provisions	2,165	2,711
Lease Contributions Provision [Member]
ProvisionsLineItems [Line Items]
Current provisions	423	412
Non-current provisions	723	910
Onerous Contract Provision [Member]
ProvisionsLineItems [Line Items]
Current provisions	49	264
Make Good Provision [Member]
ProvisionsLineItems [Line Items]
Current provisions	921	430
Non-current provisions	$ 1,442	$ 1,801

Provisions - Disclosure of Detailed Information About Reconciliation of Changes in Other Provisions (Details) - NZD ($) $ in Thousands	6 Months Ended	7 Months Ended
	Jul. 31, 2018	Jan. 31, 2018
ProvisionsLineItems [Line Items]
Opening balance	$ 3,817	$ 3,432
Additional provisions recognised	754	1,179
Unused amounts reversed	(68)	(662)
Unwinding of discounts	28	271
Amounts used during the year	(834)	(475)
Exchange differences	(139)	72
Ending Balance	3,558	3,817
Lease Contributions Provision [Member]
ProvisionsLineItems [Line Items]
Opening balance	1,322	997
Additional provisions recognised	573	584
Unused amounts reversed
Unwinding of discounts
Amounts used during the year	(619)	(293)
Exchange differences	(130)	34
Ending Balance	1,146	1,322
Onerous Contract Provision [Member]
ProvisionsLineItems [Line Items]
Opening balance	264	369
Additional provisions recognised
Unused amounts reversed
Unwinding of discounts
Amounts used during the year	(215)	(105)
Exchange differences
Ending Balance	49	264
Make Good Provision [Member]
ProvisionsLineItems [Line Items]
Opening balance	2,231	2,066
Additional provisions recognised	181	595
Unused amounts reversed	(68)	(662)
Unwinding of discounts	28	271
Amounts used during the year		(77)
Exchange differences	(9)	38
Ending Balance	$ 2,363	$ 2,231

Provisions (Details Narrative) (Bendon Limited) - NZD ($) $ in Thousands	6 Months Ended	7 Months Ended		12 Months Ended
	Jul. 31, 2018	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2018	Jun. 30, 2016	Jun. 30, 2015
ProvisionsLineItems [Line Items]
Additional provisions, other provisions	$ 754	$ 1,179
Onerous Contract Provision [Member]
ProvisionsLineItems [Line Items]
Additional provisions, other provisions
Make Good Provision [Member]
ProvisionsLineItems [Line Items]
Pre-tax discount rate applied to provisions calculations	2.00%			2.00%
Additional provisions, other provisions	$ 181	$ 595
Bendon Limited [Member]
ProvisionsLineItems [Line Items]
Additional provisions, other provisions			$ 1,006	$ 1,230
Bendon Limited [Member] \| Onerous Contract Provision [Member]
ProvisionsLineItems [Line Items]
Pre-tax discount rate applied to provisions calculations			11.40%	11.40%	11.40%	11.40%
Additional provisions, other provisions			$ 508
Bendon Limited [Member] \| Make Good Provision [Member]
ProvisionsLineItems [Line Items]
Pre-tax discount rate applied to provisions calculations			2.00%	2.00%	2.00%	4.00%
Additional provisions, other provisions			$ 353	$ 595

Provisions - Disclosure of Detailed Information About Provisions (Details) (Bendon Limited) - NZD ($) $ in Thousands	Jul. 31, 2018	Jan. 31, 2018	Jan. 31, 2017	Jun. 30, 2016	Jun. 30, 2015
ProvisionsLineItems [Line Items]
Current provisions	$ 1,393	$ 1,106
Non-current provisions	2,165	2,711
Lease Contributions Provision [Member]
ProvisionsLineItems [Line Items]
Current provisions	423	412
Non-current provisions	723	910
Onerous Contract Provision [Member]
ProvisionsLineItems [Line Items]
Current provisions	49	264
Make Good Provision [Member]
ProvisionsLineItems [Line Items]
Current provisions	921	430
Non-current provisions	$ 1,442	1,801
Bendon Limited [Member]
ProvisionsLineItems [Line Items]
Current provisions		1,106	$ 1,528	$ 855	$ 786
Non-current provisions		2,711	2,249	2,555	2,767
Bendon Limited [Member] \| Lease Contributions Provision [Member]
ProvisionsLineItems [Line Items]
Current provisions		412	480	342	353
Non-current provisions		910	702	976	906
Bendon Limited [Member] \| Onerous Contract Provision [Member]
ProvisionsLineItems [Line Items]
Current provisions		264	377		233
Non-current provisions			176	275	361
Bendon Limited [Member] \| Make Good Provision [Member]
ProvisionsLineItems [Line Items]
Current provisions		430	671	513	200
Non-current provisions		$ 1,801	$ 1,371	$ 1,304	$ 1,500

Provisions - Disclosure of Detailed Information About Reconciliation of Changes in Other Provisions (Details) (Bendon Limited) - NZD ($) $ in Thousands	6 Months Ended	7 Months Ended		12 Months Ended
	Jul. 31, 2018	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2018
ProvisionsLineItems [Line Items]
Opening balance	$ 3,817	$ 3,432
Additional provisions recognised	754	1,179
Unused amounts reversed	(68)	(662)
Unwinding of discounts	28	271
Amounts used during the year	(834)	(475)
Exchange differences	(139)	72
Ending Balance	3,558	3,817		$ 3,817
Lease Contributions Provision [Member]
ProvisionsLineItems [Line Items]
Opening balance	1,322	997
Additional provisions recognised	573	584
Unused amounts reversed
Unwinding of discounts
Amounts used during the year	(619)	(293)
Exchange differences	(130)	34
Ending Balance	1,146	1,322		1,322
Onerous Contract Provision [Member]
ProvisionsLineItems [Line Items]
Opening balance	264	369
Additional provisions recognised
Unused amounts reversed
Unwinding of discounts
Amounts used during the year	(215)	(105)
Exchange differences
Ending Balance	49	264		264
Make Good Provision [Member]
ProvisionsLineItems [Line Items]
Opening balance	2,231	2,066
Additional provisions recognised	181	595
Unused amounts reversed	(68)	(662)
Unwinding of discounts	28	271
Amounts used during the year		(77)
Exchange differences	(9)	38
Ending Balance	2,363	2,231		2,231
Bendon Limited [Member]
ProvisionsLineItems [Line Items]
Opening balance	3,817		$ 3,410	3,777
Additional provisions recognised			1,006	1,230
Unused amounts reversed			(112)	(658)
Unwinding of discounts			(9)	271
Amounts used during the year			(499)	(913)
Exchange differences			(19)	110
Ending Balance		3,817	3,777	3,817
Bendon Limited [Member] \| Lease Contributions Provision [Member]
ProvisionsLineItems [Line Items]
Opening balance	1,322		1,318	1,182
Additional provisions recognised			145	635
Unused amounts reversed
Unwinding of discounts
Amounts used during the year			(269)	(547)
Exchange differences			(12)	52
Ending Balance		1,322	1,182	1,322
Bendon Limited [Member] \| Onerous Contract Provision [Member]
ProvisionsLineItems [Line Items]
Opening balance	264		275	553
Additional provisions recognised			508
Unused amounts reversed
Unwinding of discounts
Amounts used during the year			(230)	(289)
Exchange differences
Ending Balance		264	553	264
Bendon Limited [Member] \| Make Good Provision [Member]
ProvisionsLineItems [Line Items]
Opening balance	$ 2,231		1,817	2,042
Additional provisions recognised			353	595
Unused amounts reversed			(112)	(658)
Unwinding of discounts			(9)	271
Amounts used during the year				(77)
Exchange differences			(7)	58
Ending Balance		$ 2,231	$ 2,042	$ 2,231

Share Capital - Disclosure of Detailed Information About Share Capital (Details) - NZD ($) $ in Thousands	Jul. 31, 2018	Jan. 31, 2018
Disclosure of classes of share capital [abstract]
Shares Outstanding Value	$ 116,491	$ 68,727

Share Capital - Disclosure of Detailed Information About Share Capital (Details) (Parenthetical) - shares	6 Months Ended	12 Months Ended
	Jul. 31, 2018	Jan. 31, 2018
Disclosure of classes of share capital [abstract]
Number of shares outstanding	20,952,824	306,028

Share Capital - Disclosure of Detailed Information About Ordinary Shares Explanatory (Details) - NZD ($) $ in Thousands	6 Months Ended
	Jul. 31, 2018	Jan. 31, 2018
Disclosure of classes of share capital [line items]
Balance, beginning	$ 68,727
Balance, ending	116,491	$ 68,727
Ordinary share [Member]
Disclosure of classes of share capital [line items]
Balance, beginning	68,727	40,667
Issuance of ordinary shares, Cash collected	17,165	10,271
Issuance of ordinary shares, Settle Shareholder loan	12,244
Issuance of ordinary shares, Shares issued in lieu of consultancy fee	692
Convertible notes converted	4,159	17,789
Business combination with Naked Brand Group Inc.	14,196
Balance, ending	$ 117,183	$ 68,727
Shares issued during the period	266,667
Balance, ending	20,952,824	305,136
Bendon Shareholders [Member]
Disclosure of classes of share capital [line items]
Shares issued during the period	18,617,719	305,136
Naked Shareholders [Member]
Disclosure of classes of share capital [line items]
Shares issued during the period	2,068,438

Share Capital (Details Narrative) (Bendon Limited)	Jan. 31, 2018
Disclosure of classes of share capital [line items]
Convertible notes, interest rate	15.00%
Bendon Limited [Member]
Disclosure of classes of share capital [line items]
Convertible notes, interest rate	7.00%
Bendon Limited [Member] \| Other Equity [Member]
Disclosure of classes of share capital [line items]
Convertible notes, interest rate	15.00%

Share Capital - Disclosure of Detailed Information About Share Capital (Details) (Bendon Limited) - NZD ($) $ in Thousands	Jul. 31, 2018	Jan. 31, 2018	Jan. 31, 2017	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Disclosure of classes of share capital [line items]
Shares Outstanding Value	$ 116,491	$ 68,727
Bendon Limited [Member]
Disclosure of classes of share capital [line items]
Shares Outstanding Value		$ 68,727	$ 27,948	$ 3,108	$ 3,108	$ 3,108

Share Capital - Disclosure of Detailed Information About Share Capital (Details) (Bendon Limited) (Parenthetical) - shares	Jan. 31, 2018	Jan. 31, 2017	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Bendon Limited [Member]
Disclosure of classes of share capital [line items]
Number of shares outstanding	306,028	274,839	250,000	250,000	250,000

Share Capital - Disclosure of Detailed Information About Ordinary Shares Explanatory (Details) (Bendon Limited) - NZD ($) $ in Thousands	6 Months Ended	7 Months Ended	12 Months Ended
	Jul. 31, 2018	Jan. 31, 2017	Jan. 31, 2018	Jun. 30, 2016	Jun. 30, 2015
Disclosure of classes of share capital [line items]
Balance, beginning	$ 68,727
Balance, ending	116,491		$ 68,727
Bendon Limited [Member]
Disclosure of classes of share capital [line items]
Balance, beginning	$ 68,727	$ 3,108	27,948	$ 3,108	$ 3,108
Issuance of new shares		24,840	22,990
Convertible note maturity			17,789
Balance, ending		$ 27,948	$ 68,727	$ 3,108	$ 3,108
Balance, beginning	306,028	250,000	274,839	250,000	250,000
Shares issued during the period		24,839	31,189
Balance, ending		274,839	306,028	250,000	250,000

Share Capital - Disclosure of Detailed Information About Other Equity Explanatory (Details) (Bendon Limited) - NZD ($) $ in Thousands	7 Months Ended	12 Months Ended
	Jan. 31, 2017	Jan. 31, 2018	Jun. 30, 2016	Jun. 30, 2015
Bendon Limited [Member]
Disclosure of classes of share capital [line items]
Value of conversion rights - convertible notes		$ 17,789

Share Capital - Disclosure of Detailed Information About Gearing Ratio (Details) (Bendon Limited) - NZD ($) $ in Thousands	Jul. 31, 2018	Jan. 31, 2018	Jul. 31, 2017	Jan. 31, 2017	Jun. 30, 2016	Jun. 30, 2015
Disclosure of classes of share capital [line items]
Total borrowings	$ 1,247	$ 1,159
Less Cash and cash equivalents	(4,173)	(10,739)	$ (3,464)	$ (2,644)
Equity	$ 16,232	(5,710)	$ (14,781)	(9,044)
Bendon Limited [Member]
Disclosure of classes of share capital [line items]
Total borrowings		52,121		68,998	$ 77,593	$ 56,273
Less Cash and cash equivalents		(10,739)		(2,644)	(4,193)	(1,246)
Net debt		41,382		66,354	73,400	55,027
Equity		(5,710)		(9,044)	(17,876)	2,839
Total Capital		$ 35,672		$ 57,310	$ 55,524	$ 57,866
Gearing ratio		116.00%		116.00%	132.00%	95.00%

The amount of residual interest in the assets of the entity after deducting all its liabilities.

Earnings per share from loss from continuing operations attributable to the ordinary equity holders of Naked Brand Group Limited

Reserves - Disclosure of Detailed Information About Reserves Within Equity (Details) (Bendon Limited) - NZD ($) $ in Thousands	6 Months Ended		7 Months Ended	12 Months Ended
	Jul. 31, 2018	Jul. 31, 2017	Jan. 31, 2017	Jan. 31, 2018	Jun. 30, 2016	Jun. 30, 2015
Disclosure of reserves within equity [line items]
Opening balance	$ (2,006)
Transfers in	(420)	$ 757
Balance at the end of the period	(2,426)			$ (2,006)
Bendon Limited [Member]
Disclosure of reserves within equity [line items]
Opening balance	$ (2,006)	$ (2,154)	$ (2,125)	(2,154)	$ (2,156)	$ (2,063)
Transfers in			(29)	148	31	(93)
Balance at the end of the period			$ (2,154)	$ (2,006)	$ (2,125)	$ (2,156)

Business Combination (Details Narrative) - NZD ($)		1 Months Ended	6 Months Ended
Business Combination (Details Narrative) - NZD ($)	Feb. 02, 2018	Jul. 31, 2018	Jul. 31, 2018	Jun. 19, 2018
Business Combination
Acquisition-related costs			$ 3,739,279
Number of shares issued			100,886
Shares issued price per share		$ 6.86	$ 6.86	$ 6.86
Value of shares issued			$ 692,000
Business contributed revenues	$ 58,799,189	$ 324,615
Net loss	$ 25,436,507	$ 539,982

Business Combination - Disclosure of Detailed Information About Purchase Consideration (Details)	Jun. 19, 2018 NZD ($)
Business Combination
Shares issued (2,068,438 shares at $6.86 per share fair value)	$ 14,196,000
Total purchase consideration	$ 14,196,000

Business Combination - Disclosure of Detailed Information About Purchase Consideration (Details) (Parenthetical) - $ / shares	Jul. 31, 2018	Jun. 19, 2018
Business Combination
Number of shares issued		2,068,438
Shares issued price per share	$ 6.86	$ 6.86

Business Combination - Disclosure of Detailed Information About Assets and Liabilities Recognised (Details) $ in Thousands	Jun. 19, 2018 NZD ($)
DisclosureOfBusinessCombinationLineItems [Line Items]
Cash	$ 592
Trade and other receivables	4,186
Inventories	1,810
Trade and other payables	(916)
Net identifiable assets acquired	8,398
Add: goodwill	5,798
Net assets acquired	14,196
Brands [Member]
DisclosureOfBusinessCombinationLineItems [Line Items]
Intangible assets	2,200
Customer Relationships [Member]
DisclosureOfBusinessCombinationLineItems [Line Items]
Intangible assets	$ 526

Earnings Per Share - Disclosure of Detailed Information About Earning Loss Per Share (Details) - NZD ($)
$ / shares in Units, $ in Thousands

6 Months Ended

Jul. 31, 2018

Jul. 31, 2017

From continuing operations attributable to the ordinary equity holders of the company

$ (1.28)

$ (0.89)

Total basic and diluted loss per share attributable to the ordinary equity holders of the company

$ (1.28)

$ (0.89)

Profit/(loss) attributable to the ordinary equity holders of the company used in calculating basic earnings per share:

$ (26,515)

$ (18,456)

Weighted average number of ordinary shares used as the denominator in calculating basic and diluted loss per share

20,692,359

^[1]

[1]

Pursuant to the Merger Agreement between Bendon Limited and Naked Brands Inc and resulting e stock consolidation on 19 June2018 the calculation of basic and diluted earnings per share for 2017 has been adjusted retrospectively. Number of ordinaryshares outstanding has been adjusted to reflect the proportionate change in the number of shares.

Loss Per Share (Details Narrative) (Bendon Limited)	12 Months Ended
Loss Per Share (Details Narrative) (Bendon Limited)	Jan. 31, 2018 NZD ($)	Jan. 31, 2018 USD ($)
Earnings per share [line items]
Convertible notes, interest rate	15.00%	15.00%
Bendon Limited [Member]
Earnings per share [line items]
Convertible notes amount	$ 3,544,649
Convertible notes, interest rate	7.00%	7.00%
Convertible notes, maturity date	Aug. 10, 2019
Bendon Limited [Member] \| USD [Member]
Earnings per share [line items]
Convertible notes amount		$ 2,600,000

Loss Per Share - Disclosure of Detailed Information About Earning Loss Per Share (Details) (Bendon Limited) - NZD ($)
$ / shares in Units, $ in Thousands

6 Months Ended

7 Months Ended

12 Months Ended

Jul. 31, 2018

Jul. 31, 2017

Jan. 31, 2017

Jan. 31, 2018

Jun. 30, 2016

Jun. 30, 2015

From continuing operations attributable to the ordinary equity holders of the company

$ (1.28)

$ (0.89)

Total basic and diluted loss per share attributable to the ordinary equity holders of the company

$ (1.28)

$ (0.89)

Profit/(loss) attributable to the ordinary equity holders of the company used in calculating basic earnings per share

$ (26,515)

$ (18,456)

Weighted average number of ordinary shares used as the denominator in calculating basic and diluted loss per share

20,692,359

^[1]

From continuing operations attributable to the ordinary equity holders of the company

$ (60.54)

$ (131.38)

$ (82.86)

$ (52.79)

Total basic and diluted loss per share attributable to the ordinary equity holders of the company

$ (60.54)

$ (131.38)

$ (82.86)

$ (52.79)

Profit/(loss) attributable to the ordinary equity holders of the company used in calculating basic earnings per share

$ (16,008)

$ (37,445)

$ (20,715)

$ (13,198)

Weighted average number of ordinary shares used as the denominator in calculating basic and diluted loss per share

264,441

285,019

250,000

[1]

Fair Value Measurement - Schedule of Fair Value Measurement of Assets and Liabilities (Details) - Recurring Fair Value Measurement [Member] - NZD ($) $ in Thousands	Jul. 31, 2018	Jan. 31, 2018
Derivative on Convertible Notes [Member]
DisclosureOfFairValueMeasurementLineItems [Line Items]
Financial liabilities		$ 1,110
Foreign Exchange Contracts [Member]
DisclosureOfFairValueMeasurementLineItems [Line Items]
Financial assets	220
Financial liabilities		2,087
Level 1 of Fair Value Hierarchy [Member] \| Derivative on Convertible Notes [Member]
DisclosureOfFairValueMeasurementLineItems [Line Items]
Financial liabilities
Level 1 of Fair Value Hierarchy [Member] \| Foreign Exchange Contracts [Member]
DisclosureOfFairValueMeasurementLineItems [Line Items]
Financial assets
Financial liabilities
Level 2 of fair value hierarchy [member] \| Derivative on Convertible Notes [Member]
DisclosureOfFairValueMeasurementLineItems [Line Items]
Financial liabilities
Level 2 of fair value hierarchy [member] \| Foreign Exchange Contracts [Member]
DisclosureOfFairValueMeasurementLineItems [Line Items]
Financial assets	220
Financial liabilities		2,087
Level 3 of Fair Value Hierarchy [Member] \| Derivative on Convertible Notes [Member]
DisclosureOfFairValueMeasurementLineItems [Line Items]
Financial liabilities		1,110
Level 3 of Fair Value Hierarchy [Member] \| Foreign Exchange Contracts [Member]
DisclosureOfFairValueMeasurementLineItems [Line Items]
Financial assets
Financial liabilities

The amount of assets that are: (a) cash; (b) an equity instrument of another entity; (c) a contractual right: (i) to receive cash or another financial asset from another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially favourable to the entity; or (d) a contract that will, or may be, settled in the entity’s own equity instruments and is: (i) a non-derivative for which the entity is, or may be, obliged to receive a variable number of the entity’s own equity instruments; or (ii) a derivative that will, or may be, settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity’s own equity instruments. For this purpose the entity’s own equity instruments do not include puttable financial instruments classified as equity instruments in accordance with paragraphs 16A-16B of IAS 32, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments in accordance with paragraphs 16C-16D of IAS 32, or instruments that are contracts for the future receipt or delivery of the entity’s own equity instruments. [Refer: Financial instruments, class [member]; Financial liabilities]

The amount of liabilities that are: (a) a contractual obligation: (i) to deliver cash or another financial asset to another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially unfavourable to the entity; or (b) a contract that will, or may be, settled in the entity’s own equity instruments and is: (i) a non-derivative for which the entity is, or may be, obliged to deliver a variable number of the entity’s own equity instruments; or (ii) a derivative that will, or may be, settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity’s own equity instruments. For this purpose, rights, options or warrants to acquire a fixed number of the entity’s own equity instruments for a fixed amount of any currency are equity instruments if the entity offers the rights, options or warrants pro rata to all of its existing owners of the same class of its own non-derivative equity instruments. Also, for those purposes the entity’s own equity instruments do not include puttable financial instruments that are classified as equity instruments in accordance with paragraphs 16A-16B of IAS 32, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments in accordance with paragraphs 16C-16D of IAS 32, or instruments that are contracts for the future receipt or delivery of the entity’s own equity instruments. As an exception, an instrument that meets the definition of a financial liability is classified as an equity instrument if it has all the features and meets the conditions in paragraphs 16A-16B or paragraphs 16C-16D of IAS 32. [Refer: Financial instruments, class [member]; Financial assets; Derivatives [member]]

Fair Value Measurement - Schedule of Valuation Techniques for Fair Value Measurements Categorized Within Level 3 (Details) $ in Thousands	6 Months Ended
	Jul. 31, 2018 NZD ($)
DisclosureOfFairValueMeasurementLineItems [Line Items]
Beginning Balance	$ 93,806
Ending Balance	59,617
Level 3 of Fair Value Hierarchy [Member]
DisclosureOfFairValueMeasurementLineItems [Line Items]
Beginning Balance	1,110
Changes in fair value
Conversion	(1,110)
Ending Balance

Related Parties (Details Narrative) - NZD ($)	6 Months Ended
Related Parties (Details Narrative) - NZD ($)	Jul. 31, 2018	Jan. 31, 2018	Jul. 31, 2017
Disclosure of transactions between related parties [line items]
Amounts payable, related party transactions		$ 1,368,557
Percentage of voting equity interests acquired	100.00%
Revenue	$ 56,750,000		$ 59,787,000
Profit (loss) before tax	(26,505,000)		(19,039,000)
Licence Agreement [Member]
Disclosure of transactions between related parties [line items]
Revenue	11,233,239
Profit (loss) before tax	$ 952,729
Parent [Member]
Disclosure of transactions between related parties [line items]
Proportion of ownership percentage	6.90%
Bendon Limited [member]
Disclosure of transactions between related parties [line items]
Proportion of ownership percentage		71.80%
Cullen Investments Limited [Member]
Disclosure of transactions between related parties [line items]
Directors' remuneration expense	$ 1,255,524	$ 1,515,644
Whitespace Atelier Limited [Member]
Disclosure of transactions between related parties [line items]
Purchases of goods, related party transactions	6,687,559	11,283,526
Prepayments	$ 722,385	272,665
Cullen Invenstment Limited [Member]
Disclosure of transactions between related parties [line items]
Percentage of voting equity interests acquired	6.90%
FOH Online Corp [Member]
Disclosure of transactions between related parties [line items]
Receivables due from related parties	$ 2,488,487	$ 3,518,009

Related Parties - Disclosure of Transactions Between Related Parties (Details) - NZD ($)	6 Months Ended	12 Months Ended
	Jul. 31, 2018	Jan. 31, 2018
Cullen Invenstment Limited [Member]
Disclosure of transactions between related parties [line items]
Loans to related parties, Opening balance	$ 11,535,677	$ 13,051,321
Interest not charged
Interest paid/payable
Impairment
Loans to related parties, Closing balance	12,791,201	11,535,677
Whitespace Atelier Limited [Member]
Disclosure of transactions between related parties [line items]
Loans to related parties, Opening balance	272,665
Interest not charged
Interest paid/payable
Impairment
Loans to related parties, Closing balance	722,385	272,665
FOH Online Inc. [Member]
Disclosure of transactions between related parties [line items]
Loans to related parties, Opening balance	3,518,009
Interest not charged
Interest paid/payable
Impairment
Loans to related parties, Closing balance	2,488,487	3,518,009
Naked Inc. [Member]
Disclosure of transactions between related parties [line items]
Loans from related parties	$ (1,368,577)	$ (1,368,577)

Events Occurring After the Reporting Date (Details Narrative)	Nov. 15, 2018 USD ($)	Aug. 15, 2018 USD ($) shares	Aug. 02, 2018 $ / shares	Nov. 15, 2018 $ / shares	Nov. 15, 2018 USD ($) shares	Aug. 02, 2018 USD ($) shares	Jun. 19, 2018 shares
Disclosure of non-adjusting events after reporting period [line items]
Number of shares issued							2,068,438
Events Cccurring After Reporting Date [Member]
Disclosure of non-adjusting events after reporting period [line items]
Number of shares issued						3,116,645
Share price per share \| $ / shares			$ 2.24
Debt maturity			Company is in negotiations with its Bankers to reset the loan covenants and extend the Loan to beyond the expiry of it's current terms of 30 June 2019.
Resale of ordinary shares		12,752,951
Ordinary shares issuable upon exercise of outstanding warrants		1,293,892
Events Cccurring After Reporting Date [Member] \| FOH Shareholders [Member] \| Stock Purchase Agreement [Member]
Disclosure of non-adjusting events after reporting period [line items]
Number of shares issued					3,765,087
Events Cccurring After Reporting Date [Member] \| USD [Member]
Disclosure of non-adjusting events after reporting period [line items]
Number of shares issued, value \| $						$ 6,980,000
Events Cccurring After Reporting Date [Member] \| USD [Member] \| Stock Purchase Agreement [Member]
Disclosure of non-adjusting events after reporting period [line items]
Purchase price \| $	$ 18,200,000
Events Cccurring After Reporting Date [Member] \| USD [Member] \| Three Selling Shareholders [member]
Disclosure of non-adjusting events after reporting period [line items]
Gross proceeds from warrants \| $		$ 4,852,095
Events Cccurring After Reporting Date [Member] \| USD [Member] \| FOH Online Corp [Member] \| Stock Purchase Agreement [Member]
Disclosure of non-adjusting events after reporting period [line items]
Debt owned \| $					$ 9,900,000
Events Cccurring After Reporting Date [Member] \| USD [Member] \| FOH Shareholders [Member] \| Stock Purchase Agreement [Member]
Disclosure of non-adjusting events after reporting period [line items]
Share price per share \| $ / shares				$ 2.20

Accumulated Losses - Disclosure of Detailed Information About Retained Earnings Accumulated Losses (Details) (Bendon Limited) - NZD ($) $ in Thousands	6 Months Ended		7 Months Ended	12 Months Ended
	Jul. 31, 2018	Jul. 31, 2017	Jan. 31, 2017	Jan. 31, 2018	Jun. 30, 2016	Jun. 30, 2015
AccumulatedLossesLineItems [Line Items]
(Accumulated losses)/retained earnings at the beginning of the period	$ (72,431)
Loss for the period	(26,094)	$ (19,213)		$ 37,593
(Accumulated Losses)/Retained Earnings at end of the period	(98,525)			(72,431)
Bendon Limited [Member]
AccumulatedLossesLineItems [Line Items]
(Accumulated losses)/retained earnings at the beginning of the period	(72,431)	$ (34,838)	$ (18,859)	(34,838)	$ 1,887	$ 14,992
Loss for the period	$ 26,094		(15,979)	(37,593)	(20,746)	(13,105)
(Accumulated Losses)/Retained Earnings at end of the period			$ (34,838)	$ (72,431)	$ (18,859)	$ 1,887

The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]

Capital and Leasing Commitments (Details Narrative) (Bendon Limited) - Bendon Limited [Member]	12 Months Ended
	Jan. 31, 2018
DisclosureOfCapitalAndLeasingCommitmentsLineItems [Line Items]
Description of Operating lease term	Operating leases are in place for leased premises and vehicles, and normally have a term between 1 and 11 years.
Contractual Commitment Term	7 years

Capital and Leasing Commitments - Detailed Information of Finance Leases Explanatory (Details) (Bendon Limited) - Bendon Limited [Member] - NZD ($) $ in Thousands	Jan. 31, 2018	Jan. 31, 2017	Jun. 30, 2016	Jun. 30, 2015
DisclosureOfCapitalAndLeasingCommitmentsLineItems [Line Items]
Minimum lease payments				$ 105
Less: finance changes
Present value of minimum lease payments				105
Not Later than One Year [Member]
DisclosureOfCapitalAndLeasingCommitmentsLineItems [Line Items]
Minimum lease payments				$ 105

Capital and Leasing Commitments - Disclosure of Detailed Information About Operating Leases Explanatory (Details) (Bendon Limited) - NZD ($) $ in Thousands	Jul. 31, 2018	Jan. 31, 2018	Jan. 31, 2017	Jun. 30, 2016	Jun. 30, 2015
DisclosureOfCapitalAndLeasingCommitmentsLineItems [Line Items]
Minimum lease payments under non-cancellable operating leases	$ 29,900
Bendon Limited [Member]
DisclosureOfCapitalAndLeasingCommitmentsLineItems [Line Items]
Minimum lease payments under non-cancellable operating leases		$ 25,089	$ 23,966	$ 26,172	$ 26,353
Bendon Limited [Member] \| Not Later than One Year [Member]
DisclosureOfCapitalAndLeasingCommitmentsLineItems [Line Items]
Minimum lease payments under non-cancellable operating leases		9,618	9,472	9,594	8,952
Bendon Limited [Member] \| Between One Year and Five Years [Member]
DisclosureOfCapitalAndLeasingCommitmentsLineItems [Line Items]
Minimum lease payments under non-cancellable operating leases		14,943	14,435	16,438	17,089
Bendon Limited [Member] \| Later than Five Years [Member]
DisclosureOfCapitalAndLeasingCommitmentsLineItems [Line Items]
Minimum lease payments under non-cancellable operating leases		$ 528	$ 59	$ 140	$ 312

Capital and Leasing Commitments - Disclosure of Detailed Information About Contracted Commitments Explanatory (Details) (Bendon Limited) - Bendon Limited [Member] - NZD ($) $ in Thousands	Jan. 31, 2018	Jan. 31, 2017	Jun. 30, 2016	Jun. 30, 2015
DisclosureOfCapitalAndLeasingCommitmentsLineItems [Line Items]
Contractual capital commitments	$ 15,806	$ 19,569	$ 22,754	$ 25,607
Not Later than One Year [Member]
DisclosureOfCapitalAndLeasingCommitmentsLineItems [Line Items]
Contractual capital commitments	3,797	3,652	3,696	3,147
Between One Year and Five Years [Member]
DisclosureOfCapitalAndLeasingCommitmentsLineItems [Line Items]
Contractual capital commitments	12,009	15,917	16,775	15,808
Later than Five Years [Member]
DisclosureOfCapitalAndLeasingCommitmentsLineItems [Line Items]
Contractual capital commitments			$ 2,283	$ 6,652

Lessor Commitments (Details Narrative) (Bendon Limited)	12 Months Ended
Lessor Commitments (Details Narrative) (Bendon Limited)	Jan. 31, 2018
Bendon Limited [Member]
Disclosure of finance lease and operating lease by lessor [line items]
Non-cancellable lease term description	The Group sub leases its US and Australian premises under a commercial lease. These non-cancellable leases have terms between 1 and 6 years.

Lessor Commitments - Disclosure of Finance Lease and Operating Lease by Lessor (Details) (Bendon Limited) - Bendon Limited [Member] - NZD ($) $ in Thousands	Jan. 31, 2018	Jan. 31, 2017	Jun. 30, 2016	Jun. 30, 2015
Disclosure of finance lease and operating lease by lessor [line items]
Total minimum lease payments	$ 166	$ 1,579	$ 1,837	$ 996
Not Later than One Year [Member]
Disclosure of finance lease and operating lease by lessor [line items]
Total minimum lease payments	166	503	620	431
Between One Year and Five Years [Member]
Disclosure of finance lease and operating lease by lessor [line items]
Total minimum lease payments		1,076	1,217	565
Later than Five Years [Member]
Disclosure of finance lease and operating lease by lessor [line items]
Total minimum lease payments

Financial Risk Management (Details Narrative) (Bendon Limited) - Bendon Limited [Member]	12 Months Ended
	Jan. 31, 2018
DisclosureOfFinancialRiskManagementLineItems [Line Items]
Description of foreign exchange rate	It assumes a 10% change of the New Zealand Dollar / Australian Dollar exchange rate for the year ended 31 January 2018 (31 January 2017: 10%, 30 June 2016: 10%, 30 June 2015: 10%). A 10% change is considered for the New Zealand Dollar / US Dollar exchange rate (31 January 2017: 10%, 30 June 2016: 10%, 30 June 2015: 10%). A 10% change is considered for the New Zealand Dollar / GB Pound exchange rate (31 January 2017: 10%, 30 June 2016: 10%, 30 June 2015: 10%). A 10% change is considered for the New Zealand Dollar / Euro exchange rate (31 January 2017: 10%, 30 June 2016: 10%, 30 June 2015: 10%). All of these percentages have been determined based on the average market volatility in exchange rates in the previous 12 months.
AUD [Member]
DisclosureOfFinancialRiskManagementLineItems [Line Items]
Closing foreign exchange rate	0.9073
USD [Member]
DisclosureOfFinancialRiskManagementLineItems [Line Items]
Closing foreign exchange rate	0.7335
GBP [Member]
DisclosureOfFinancialRiskManagementLineItems [Line Items]
Closing foreign exchange rate	0.5183
EUR [Member]
DisclosureOfFinancialRiskManagementLineItems [Line Items]
Closing foreign exchange rate	0.5913
HKD [Member]
DisclosureOfFinancialRiskManagementLineItems [Line Items]
Closing foreign exchange rate	5.7368

Financial Risk Management - Disclosure of Financial Risk Management (Details) (Bendon Limited) - Bendon Limited [Member] - NZD ($) $ in Thousands	Jan. 31, 2018	Jan. 31, 2017	Jun. 30, 2016	Jun. 30, 2015
DisclosureOfFinancialRiskManagementLineItems [Line Items]
Non-derivatives Borrowings	$ 53,877	$ 75,416	$ 80,516	$ 57,795
Non-derivatives Finance lease obligations				106
Non-derivatives Trade payables	21,143	19,221	18,357	25,302
Non-derivatives Bank guarantees			582	372
Non-derivatives Total	75,020	94,637	99,455	83,575
Derivatives Gross future cash settlement on forward currency contracts - inflow	48,309	49,833	61,788	26,496
Derivatives Gross future cash settlement on forward currency contracts - (outflow)	(50,396)	(54,021)	(67,317)	(28,785)
Derivatives Total	(2,087)	(4,188)	(5,529)	(2,289)
0-30 Days [Member]
DisclosureOfFinancialRiskManagementLineItems [Line Items]
Non-derivatives Borrowings	26,482	56,333	63,054	22,322
Non-derivatives Finance lease obligations				66
Non-derivatives Trade payables	21,143	19,221	18,357	25,302
Non-derivatives Bank guarantees
Non-derivatives Total	47,625	75,554	81,411	47,690
Derivatives Gross future cash settlement on forward currency contracts - inflow	13,577	2,078	6,636
Derivatives Gross future cash settlement on forward currency contracts - (outflow)	(13,950)	(2,250)	(7,097)
Derivatives Total	(373)	(172)	(461)
Between One Month and Three Months [Member]
DisclosureOfFinancialRiskManagementLineItems [Line Items]
Non-derivatives Borrowings	148	129	127	996
Non-derivatives Finance lease obligations				40
Non-derivatives Trade payables
Non-derivatives Bank guarantees
Non-derivatives Total	148	129	127	1,036
Derivatives Gross future cash settlement on forward currency contracts - inflow	13,837	9,900	18,755	1,841
Derivatives Gross future cash settlement on forward currency contracts - (outflow)	(14,453)	(11,326)	(20,454)	(2,029)
Derivatives Total	(616)	(1,426)	(1,699)	(188)
Between Three Months and One Year [Member]
DisclosureOfFinancialRiskManagementLineItems [Line Items]
Non-derivatives Borrowings	27,247	18,631	572	17,496
Non-derivatives Finance lease obligations
Non-derivatives Trade payables
Non-derivatives Bank guarantees
Non-derivatives Total	27,247	18,631	572	17,496
Derivatives Gross future cash settlement on forward currency contracts - inflow	20,895	37,855	36,397	15,715
Derivatives Gross future cash settlement on forward currency contracts - (outflow)	(21,993)	(40,445)	(39,766)	(17,133)
Derivatives Total	(1,098)	(2,590)	(3,369)	(1,418)
Between One Year and Five Years [Member]
DisclosureOfFinancialRiskManagementLineItems [Line Items]
Non-derivatives Borrowings		323	16,763	16,981
Non-derivatives Finance lease obligations
Non-derivatives Trade payables
Non-derivatives Bank guarantees			582	372
Non-derivatives Total		323	17,345	17,353
Derivatives Gross future cash settlement on forward currency contracts - inflow				8,940
Derivatives Gross future cash settlement on forward currency contracts - (outflow)				(9,623)
Derivatives Total				$ (683)

Financial Risk Management - Disclosure of Credit Risk Exposure (Details) (Bendon Limited) - Bendon Limited [Member] - NZD ($) $ in Thousands	Jan. 31, 2018	Jan. 31, 2017	Jun. 30, 2016	Jun. 30, 2015
Without External Credit Ratings [Member]
DisclosureOfFinancialRiskManagementLineItems [Line Items]
Financial assets	$ 10,685	$ 2,644	$ 4,146	$ 1,194
Without External Credit Ratings [Member] \| Trade Receivables [Member]
DisclosureOfFinancialRiskManagementLineItems [Line Items]
Financial assets	9,982	26,499	20,603	20,603
Without External Credit Ratings [Member] \| Trade Receivables [Member] \| New Customer Less than 6 Months [Member]
DisclosureOfFinancialRiskManagementLineItems [Line Items]
Financial assets	12	187	1,046	1,046
Without External Credit Ratings [Member] \| Trade Receivables [Member] \| Existing Customers (More Than 6 Months With Default in Past [Member]
DisclosureOfFinancialRiskManagementLineItems [Line Items]
Financial assets	9,970	26,312	19,557	19,557
Ratings AA- [Member]
DisclosureOfFinancialRiskManagementLineItems [Line Items]
Financial assets	10,591	2,655	4,122	1,194
Ratings A+ [Member]
DisclosureOfFinancialRiskManagementLineItems [Line Items]
Financial assets	$ 94	$ (11)	$ 24

Financial Risk Management - Sensitivity Analysis for Types of Market Risk (Details) (Bendon Limited) - Bendon Limited [Member] - NZD ($) $ in Thousands	Jan. 31, 2018	Jan. 31, 2017	Jun. 30, 2016	Jun. 30, 2015
USD [Member] \| 10% Increase [Member]
DisclosureOfFinancialRiskManagementLineItems [Line Items]
Risk exposure associated with instruments sharing characteristic	$ (1,509)	$ (1,196)	$ (1,267)	$ (797)
USD [Member] \| 10% Decrease [Member]
DisclosureOfFinancialRiskManagementLineItems [Line Items]
Risk exposure associated with instruments sharing characteristic	1,509	1,196	1,267	797
AUD [Member] \| 10% Increase [Member]
DisclosureOfFinancialRiskManagementLineItems [Line Items]
Risk exposure associated with instruments sharing characteristic	(805)	86	75	7
AUD [Member] \| 10% Decrease [Member]
DisclosureOfFinancialRiskManagementLineItems [Line Items]
Risk exposure associated with instruments sharing characteristic	805	(86)	(75)	(7)
GBP [Member] \| 10% Increase [Member]
DisclosureOfFinancialRiskManagementLineItems [Line Items]
Risk exposure associated with instruments sharing characteristic	(175)	34	(16)	(3)
GBP [Member] \| 10% Decrease [Member]
DisclosureOfFinancialRiskManagementLineItems [Line Items]
Risk exposure associated with instruments sharing characteristic	175	(34)	16	3
EUR [Member] \| 10% Increase [Member]
DisclosureOfFinancialRiskManagementLineItems [Line Items]
Risk exposure associated with instruments sharing characteristic	(136)	186	142	108
EUR [Member] \| 10% Decrease [Member]
DisclosureOfFinancialRiskManagementLineItems [Line Items]
Risk exposure associated with instruments sharing characteristic	136	(186)	(142)	(108)
HKD [Member] \| 10% Increase [Member]
DisclosureOfFinancialRiskManagementLineItems [Line Items]
Risk exposure associated with instruments sharing characteristic	(14)	1	(2)	(21)
HKD [Member] \| 10% Decrease [Member]
DisclosureOfFinancialRiskManagementLineItems [Line Items]
Risk exposure associated with instruments sharing characteristic	$ 14	$ (1)	$ 2	$ 21

Financial Risk Management - Disclosure of Detailed Information About Hedging Instruments (Details) (Bendon Limited) - Bendon Limited [Member]	7 Months Ended	12 Months Ended
	Jan. 31, 2017 NZD ($)	Jan. 31, 2018 NZD ($)	Jun. 30, 2016 NZD ($)	Jun. 30, 2015 NZD ($)
DisclosureOfFinancialRiskManagementLineItems [Line Items]
Notional amount		$ 3,544,649
Buy USD / Sell NZD [Member] \| Less than Six Months [Member]
DisclosureOfFinancialRiskManagementLineItems [Line Items]
Notional amount	$ 47,292,000	$ 48,149,000	$ 38,697,000	$ 24,932,000
Average foreign exchange rate	0.6687	0.7061	0.6473	0.7320
Buy USD / Sell NZD [Member] \| Six Months to One Year [Member]
DisclosureOfFinancialRiskManagementLineItems [Line Items]
Notional amount	$ 3,479,000		$ 22,378,000	$ 3,854,000
Average foreign exchange rate	0.7186		0.6424	0.7136
Buy AUD / Sell NZD [Member] \| Less than Six Months [Member]
DisclosureOfFinancialRiskManagementLineItems [Line Items]
Notional amount	$ 2,250,000	$ 2,247,000	$ 5,242,000
Average foreign exchange rate	0.8890	0.8900	0.9066
Buy GBP / Sell NZD [Member] \| Less than Six Months [Member]
DisclosureOfFinancialRiskManagementLineItems [Line Items]
Notional amount	$ 1,000,000		$ 1,000,000
Average foreign exchange rate	0.5784		0.4181

Financial Risk Management - Disclosure of Financial Instruments by Type of Interest Rate (Details) (Bendon Limited) - NZD ($) $ in Thousands	Jul. 31, 2018	Jan. 31, 2018	Jan. 31, 2017	Jun. 30, 2016	Jun. 30, 2015
DisclosureOfFinancialRiskManagementLineItems [Line Items]
Total	$ 1,247	$ 1,159
Bendon Limited [Member]
DisclosureOfFinancialRiskManagementLineItems [Line Items]
Bank overdrafts					$ 18,064
Total		52,121	68,998	77,593	56,273
Bendon Limited [Member] \| Floating Rate Instruments [Member]
DisclosureOfFinancialRiskManagementLineItems [Line Items]
Bank overdrafts					14,481
Working capital financing bank facility		22,489	31,710	32,877	3,387
Convertible notes		1,740	16,474
Borrowings		16,000	16,000	16,000	17,841
Total		$ 40,229	$ 64,184	$ 48,877	$ 35,709

Financial Risk Management - Schedule of Financial Instruments by Type of Interest Rate (Details) (Bendon Limited) - NZD ($) $ in Thousands	Jul. 31, 2018	Jan. 31, 2018	Jul. 31, 2017	Jan. 31, 2017	Jun. 30, 2016	Jun. 30, 2015
DisclosureOfFinancialRiskManagementLineItems [Line Items]
Equity	$ 16,232	$ (5,710)	$ (14,781)	$ (9,044)
Bendon Limited [Member]
DisclosureOfFinancialRiskManagementLineItems [Line Items]
Equity		(5,710)		(9,044)	$ (17,876)	$ 2,839
Bendon Limited [Member] \| 1.00% Increase [Member]
DisclosureOfFinancialRiskManagementLineItems [Line Items]
Equity		420		642	352	283
Bendon Limited [Member] \| 1.00% Decrease [Member]
DisclosureOfFinancialRiskManagementLineItems [Line Items]
Equity		$ (420)		$ (642)	$ (352)	$ (283)

The amount of residual interest in the assets of the entity after deducting all its liabilities.

Bendon Retail Limited [Member]

Tax Assets and Liabilities - Reconciliation of Changes In Deferred Tax Liability Asset (Details) (Bendon Limited) - Bendon Limited [Member] - NZD ($) $ in Thousands	7 Months Ended	12 Months Ended
	Jan. 31, 2017	Jan. 31, 2018	Jun. 30, 2016	Jun. 30, 2015
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Opening Balance			$ 5,589	$ 3,590
Charged to Income			(5,589)	1,999
Charged directly to Equity
Changes in Tax Rate
Exchange Differences
Closing Balance				5,589
Property, Plant and Equipment [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Opening Balance			1,668	1,251
Charged to Income			(1,668)	417
Charged directly to Equity
Changes in Tax Rate
Exchange Differences
Closing Balance				1,668
Doubtful Debts [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Opening Balance			80	85
Charged to Income			(80)	(5)
Charged directly to Equity
Changes in Tax Rate
Exchange Differences
Closing Balance				80
Provision for Annual Leave [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Opening Balance			296	273
Charged to Income			(296)	23
Charged directly to Equity
Changes in Tax Rate
Exchange Differences
Closing Balance				296
Provision for Long Service Leave [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Opening Balance			79	66
Charged to Income			(79)	13
Charged directly to Equity
Changes in Tax Rate
Exchange Differences
Closing Balance				79
Other Payroll Provisions [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Opening Balance			124	142
Charged to Income			(124)	(18)
Charged directly to Equity
Changes in Tax Rate
Exchange Differences
Closing Balance				124
General Provisions [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Opening Balance			333	1,857
Charged to Income			(333)	(1,524)
Charged directly to Equity
Changes in Tax Rate
Exchange Differences
Closing Balance				333
Inventories [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Opening Balance			215	125
Charged to Income			(215)	90
Charged directly to Equity
Changes in Tax Rate
Exchange Differences
Closing Balance				215
Carried Forward Tax Losses [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Opening Balance	630	630	3,494	194
Charged to Income			(2,864)	3,300
Charged directly to Equity
Changes in Tax Rate
Exchange Differences
Closing Balance	630	630	630	3,494
Intangible Assets [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Opening Balance	(630)	(630)	(700)	(403)
Charged to Income			70	(297)
Charged directly to Equity
Changes in Tax Rate
Exchange Differences
Closing Balance	$ (630)	$ (630)	$ (630)	$ (700)

Dividends (Details Narrative) (Bendon Limited) - NZD ($)	Jan. 31, 2018	Jan. 31, 2017	Jun. 30, 2016	Jun. 30, 2015
Bendon Limited [Member]
DisclosureOfDividendsLineItems [Line Items]
Dividends payable

Dividends - Disclosure of Detailed Information about Dividends Explanatory (Details) (Bendon Limited) - Bendon Limited [Member] - NZD ($) $ in Thousands	Jan. 31, 2018	Jan. 31, 2017	Jun. 30, 2016	Jun. 30, 2015
Australian Franking Credits [Member]
DisclosureOfDividendsLineItems [Line Items]
Unused tax credits for which no deferred tax asset recognised	$ 3,995	$ 3,757	$ 3,808	$ 4,113
New Zealand Imputation Credits [Member]
DisclosureOfDividendsLineItems [Line Items]
Unused tax credits for which no deferred tax asset recognised	$ 236	$ 235	$ 235	$ 235

Dividends - Disclosure of Detailed Information about Dividends Explanatory (Details) (Bendon Limited) (Parenthetical)	6 Months Ended		7 Months Ended	12 Months Ended
	Jul. 31, 2018	Jul. 31, 2017	Jan. 31, 2017	Jan. 31, 2018	Jun. 30, 2016	Jun. 30, 2015
DisclosureOfDividendsLineItems [Line Items]
Applicable tax rate	30.00%	28.00%
Bendon Limited [Member]
DisclosureOfDividendsLineItems [Line Items]
Applicable tax rate			28.00%	28.00%	28.00%	28.00%
Australian Franking Credits [Member] \| Bendon Limited [Member]
DisclosureOfDividendsLineItems [Line Items]
Tax rate effect of foreign tax rates				30.00%
New Zealand Imputation Credits [Member] \| Bendon Limited [Member]
DisclosureOfDividendsLineItems [Line Items]
Applicable tax rate				28.00%

Key Management Personnel Remuneration - Disclosure of Detailed Information about Key Management Personnel (Details) (Bendon Limited) - Bendon Limited [Member] - NZD ($)	7 Months Ended	12 Months Ended
	Jan. 31, 2017	Jan. 31, 2018	Jun. 30, 2016	Jun. 30, 2015
DetailsOfKeyManagementPersonnelRemunerationLineItems [Line Items]
Short-term employee benefits	$ 1,492,015	$ 1,742,530	$ 1,751,710	$ 2,039,156
Key management personnel compensation	$ 1,492,015	$ 1,742,530	$ 1,751,710	$ 2,039,156

Interests in Subsidiaries - Disclosure of Composition of Group (Details) (Bendon Limited) - Bendon Limited [Member]

7 Months Ended

12 Months Ended

Jan. 31, 2017

Jan. 31, 2018

Jun. 30, 2016

Jun. 30, 2015

New Zealand

Bendon Holdings Limited [Member]

^[1]

100.00%

New Zealand

Bendon Holdings Pty Limited [Member]

^[1]

100.00%

Australia

Bendon Pty Limited [Member]

^[1]

100.00%

Australia

Bendon Intimates Pty Limited [Member]

^[1]

100.00%

Australia

PS Holdings No. 1 Pty Limited [Member]

^[1]

100.00%

Australia

Pleasure State Pty Limited [Member]

^[1]

100.00%

Australia

Pleasure State (HK) Limited [Member]

^[1]

100.00%

Hong Kong

Bendon UK Limited [Member]

^[1]

100.00%

United Kingdom

^[1]

100.00%

Bendon USA Inc [Member]

United States of America