Ann: FY2015 Results Briefing, page-4

My wife is a shopper ( I detest it) . She's always buying clothes, for me also. So I asked her about the Black Pepper stores and she said what she was wearing right now, and what I was wearing, all comes from Black Pepper !! So I delved a bit deeper. We are early 60's in age and she said that shopping for clothes for "middle aged and upwards" women ( and men) has always been a problem due not many places catering to them ( by the way we live in Melbourne). However, Black Pepper appears to be catering to us more or less mature folks. I asked who is the competition for people of our age or so. She said there's not much , mainly Myers. Now I'm thinking, with changing demographics, skewing to more elderly people, lets say 50's on upwards, the business ( Black Pepper) looks to be well targeted.