Catalyst Investment Managers is said to be considering the sale of its stake in Kiwi clothing and homeware retailer EziBuy.

Kiwi fashion brand Max is taking advantage of new owner Ezibuy’s cash to revamp its image and expand into Australia at a time when most clothing retailers are starting to panic.

Max marketing manager Sandy Burgham says the company is looking to not just expand, but that the 39-store business back in New Zealand will be getting a facelift too.

While specifics of the Australian move are yet to be made available, the company is expecting to make further announcements in early 2009.

Ezibuy has again been dragged in front of Auckland’s District Court for marketing and selling falsely advertised clothing.

The company plead guilty to breaching the Fair Trading Act, and was fined $8,500 for selling and marketing shawls advertised as silk blend pashmina.

Under testing the product was revealed to be made of cotton and polyester, without any silk or pashmina content whatsoever.

The products were sold at $19.95, well below market valuations of around $400 for a 100 per cent pashmina shawl.