KEY POINTS:
The future of one of New Zealand's most famous brands is in question, following the resignation of its chief executive.
Stefan Preston told Bendon staff yesterday that he was leaving after 5 1/2 years, to pursue other interests.
The company has already begun a global search for a new chief executive, and Mr Preston admits his replacement is likely to come from overseas.
However, he is being coy about whether the company's headquarters may also move, saying the company is "keeping an open mind".
The company, founded in 1947 by Ray and Des Hurley, once employed hundreds of machinists in provincial towns such as Te Aroha and Te Rapa. It laid off most of its staff in 1999 and shifted all its manufacturing to China.
Since then, it has gradually expanded its exports to Australia, Britain, the United States, Canada, Middle East and Hong Kong, with sales hitting $154 million last year.
A licensing deal with top British designer Stella McCartney will see it expand into 16 countries from early next year.
Only 200 of its 500 staff are now based in New Zealand. It has offices in Melbourne, New York and London, and two years ago shifted its headquarters from East Tamaki to Auckland Airport's industrial zone.
Although most of its New Zealand staff are highly skilled designers and marketers, it will soon have a design team in New York. Mr Preston admitted it was easier there to find the skilled staff the company needed.
"The interesting thing about Bendon is there is nothing intrinsically New Zealand about it, other than a design aesthetic and the way we've been able to do what we have been able to do," he told The Business.
"We're not part of that Northern Hemisphere fashion conversation, but I can already feel the centre of gravity in the company moving north."
After several changes of ownership, Bendon was taken over by Cullen Investments in 2002.
