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Retailer Highest Ranked Female on Australian Young Rich List

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Whoever said retail doesn’t pay well enough? Tania Austin, co-founder of the Cotton On fashion group, has come in as the highest ranked female on BRW’s 2009 Young Rich List

37 year old Tania Austin, who came in at number eight on the overall list, shares a $156 million fortune with former husband Nigel Austin. The pair established retail chain Cotton On in 1991 in Geelong, VIC. There are now 500 Cotton On stores across Australia, New Zealand, Singapore, Hong Kong, Malaysia and the United States.

The lists editor John Stensholt commented that retail had done surprisingly well for Australia’s young rich, given the economic downturn.

Austin is one of only 13 women on the list, which includes the Sass & Bide fashion label owners Sarah-Jane Clarke and Heidi Middleton, worth $36 million, and Kylie Radford, co-owner of the Morrison fashion chain.
Read more at http://www.smh.com.au/executive-style/management/young-and-rich-cash-in-on-some-risque-business-20090923-g2t3.html

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