For more than a century, the Myer name has been synonymous with glamour, privilege and the pinnacle of Australian retail.
But today, the iconic department store’s financial future is looking decidedly uncertain – even as its founding family’s fortunes remain robust.
Last Tuesday, reports revealed the 124-year-old company was in deep trouble – with plunging profits, closed stores and a savage share-market slide casting serious doubt over its future.
Some analysts warn it may not survive the next 12 months.
Yet while the Myer empire teeters on the edge, the family that continues to carry its name still enjoys a life of luxury and peerless social standing.
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The Myer family owns some of Melbourne’s most prestigious homes, including the historic Toorak estate Cranlana (pictured), which was originally purchased by Sidney and Merlyn Myer
Spanning 1.1 hectares, Cranlana boasts a Harold Desbrowe-Annear-designed sunken garden, a tennis court, pool and multiple heritage dwellings, including a cottage and former stables
In 2024, Cranlana was listed with an asking price between $96million and $105million, positioning it as a potential record-breaker for Melbourne’s most expensive residential sale
The Myers still hold some of Melbourne’s most prestigious real estate, most notably Cranlana – the historic Toorak estate originally bought by Myer’s Belarusian-born founder Sidney Myer and his wife, Dame Merlyn Myer.
Set on approximately 1.1 hectares, Cranlana features a Harold Desbrowe-Annear-designed sunken garden, a tennis court, swimming pool and multiple heritage dwellings, including a cottage and former stables.
In 2024, Cranlana was listed with an asking price between $96million and $105million, positioning it as a potential record-breaker for Melbourne’s most expensive residential sale.
Another jewel in the Myers’ property portfolio, located a stone’s throw from Cranlana, was the now-sold Regency-style mansion at 4 Grant Avenue, owned for nearly 70 years by the late Baillieu Myer (son of Sidney and Merlyn) and his wife Sarah.
The four-bedroom home hit the market in late 2024 with a price guide of $20-$22million and swiftly found a buyer – marking its first change of ownership in seven decades.
Also part of the family’s real estate legacy is Elgee Park, a sprawling estate in Merricks North on Victoria’s Mornington Peninsula.
Acquired in 1958 as a private retreat, the property spans 322 hectares of undulating hills with panoramic views across Port Phillip Bay to Melbourne.
Over the years, the Myers transformed Elgee Park into a multifaceted estate, adding a new residence, stables, a vineyard, an orchard, a quarter horse stud, and more than 45 outdoor sculptures.
Another jewel in the Myers’ property portfolio, located a stone’s throw from Cranlana, was the now-sold Regency-style mansion at 4 Grant Avenue (pictured), owned for nearly 70 years by the late Baillieu Myer – son of Sidney and Merlyn – and his wife Sarah
William and Sarah Myer (pictured with their daughter) tied the knot at Elgee Park, a Myer family-owned farm located in Merricks North, on Victoria’s Mornington Peninsula
The event was an intimate yet lavish affair, after the couple’s plans for a big wedding were cancelled due to the Covid pandemic
In 2021, the property served as the picturesque venue for the wedding of Sidney Myer’s great-grandson William Myer and his wife Sarah.
The celebration was intimate yet opulent – a scaled-down affair after the couple’s plans for a grand wedding were derailed by the Covid pandemic.
Photos shared on social media captured the newlyweds posing with loved ones in a lush paddock, framed by rustic touches including a whimsical hay-bale sign spelling out William and Sarah.
Other images showed guests mingling poolside, with sweeping green hills providing a breathtaking backdrop.
William and Sarah had legally tied the knot in a private ceremony at the family’s Cranlana estate earlier that year.
These days, the couple spend their time travelling the globe with their two children, regularly appearing at exclusive society events.
While the retail giant struggles, the family that made Myer a household name are still living the high life. (Pictured: William Myer at his wedding to wife Sarah at the family’s farm Elgee Park)
The lovebirds legally married in a small ceremony earlier that year at Cranlana (pictured)
William and Sarah spend their days travelling the world and attending exclusive society events
Lavish celebrations, it seems, are a Myer tradition.
In August, Lillian Myer – daughter of philanthropists Andrew and Kerry, and a direct descendant of patriarch Sidney – married her husband Nathan Brown in a romantic ceremony in Provence, France.
Following a bachelorette party in Paris, Lillian walked down the aisle at Domaine de la Rose, a rustic estate nestled within a 20-hectare park, offering panoramic views of the Alpilles mountain range.
Lillian Myer – daughter of philanthropists Andrew and Kerry, and a direct descendant of Sidney Myer – tied the knot in Provence last month. She is seen at her bachelorette party in Paris
Lillian walked down the aisle at Domaine de la Rose (pictured), a rustic estate located within a 20-hectare park, boasting sweeping views of the Alpilles mountain range
Lillian, who works for Deloitte in New York, kept much of the event under wraps but did appear in a video uploaded by her DJ showing guests dancing at a raucous reception
The good times kept coming, as the couple and their bridal party took a trip to Saint Tropez. From there, the newlyweds continued their Euro adventure with trips to Ibiza and Mykonos
Lillian Myer, who works for Deloitte in New York, kept much of her wedding celebration under wraps. However, a glimpse into the festivities emerged via a video shared by her DJ, showing guests dancing into the night at a lively reception.
The revelry didn’t end there.
Lillian and her bridal party continued the celebration with a sun-soaked escape to Saint-Tropez, unwinding at the luxurious Nikki Beach Hotel.
From there, the newlyweds embarked on a glamorous European honeymoon, making stops in Ibiza and Mykonos.
But not everyone within the Myer orbit has enjoyed such a fairytale ending.
Steven Lew, the son of billionaire retail magnate and Myer’s largest shareholder Solomon ‘Solly’ Lew, went through a messy divorce from Melbourne socialite Sarah Nowoweiski (now Sarah Lucas) in 2011, after eight years of marriage.
Steven Lew (left), the son of Myer’s biggest shareholder Solomon Lew, went through a messy divorce from Melbourne socialite Sarah Nowoweiski – now Sarah Lucas – in 2011
Sarah Nowoweiski went on to marry restaurateur Chris Lucas (right) in Venice in 2023
Solomon’s daughter Jacqueline Lew also faced a contentious split from ex-husband Adam Priester in the early 2010s.
In 2012, Solomon launched legal action in the Supreme Court of Victoria to shield parts of the family’s $621million Lew Custodian Trust from potential claims by Priester and Nowoweiski.
Due to the Family Court’s confidentiality rules, the legal proceedings were conducted behind closed doors, and the details of the divorce settlements remain undisclosed, though it’s believed Nowoweiski did quite well for herself.
Sarah later remarried, tying the knot with restaurateur Chris Lucas in a lavish ceremony in Venice in 2023.
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