Jun 15, 2026 – 4.34pmRetail magnate Brett Blundy’s run at the Australian operations of HanesBrands won’t make it from the shopping cart to the checkout.Blundy was deemed preferred bidder for Hanes International in a deal which would have put him back in charge of lingerie chain Bras N Things.Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber?
Blundy drops Bras N Things bid amid Victoria’s Secret setback
The due diligence process has shown just how painful a break-up of retail giant Hanes International would be from a tax perspective.
TL;DRAI
Blundy withdraws from Hanes' Bras N Things acquisition bid after Victoria's Secret's market challenges reset retail M&A expectations. The deal collapse signals tightening consumer spending and cascading IT budget caution across retail, foreshadowing slower enterprise software consolidation.
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