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13 Found helpful • 8 Pages • Essays / Projects • Year: Pre-2021
Fancy Styles Group is an Australian retailer group that manufactures and sells clothing and apparel. The group consists of an Australian parent company The Industries Pty Ltd and a wholly owned subsidiary company The Works Ltd. The Industries Pty Ltd is incorporated in Australia and is managed and controlled by Australian resident shareholders that each own less than 10% of the total shareholding. The Works Ltd is also incorporated in Australia and 100% of profits made by this subsidiary goes to The Industries Pty Ltd, making The Industries the sole shareholder of the company. The Works Ltd still remains to be a separate legal entity despite The Industries Pty Ltd having total power and management control of the company.
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