Woolworths Holdings says it will relocate the Australasian headquarters of its David Jones brand from Sydney to Melbourne, bringing more than 800 news jobs to Victoria.

"It was a bit of a no-brainer," said Woolworths Holdings chief executive Ian Moir.  "Melbourne really is the fashion center, the fashion capital of Australia; it's the retail center of Australia."  Mr. Moir noted that real estate prices were more agreeable as well.

The head office of David Jones will share space on a campus-like setting with Woolworths Holdings's other businesses Country Road Group, Mimco, Trenery, and Witchery.  Woolworths Holdings will invest some AU$240 Million not only at the new building in inner Richmond, but also with a new distribution center in Truganina in Melbourne's west.

Victorian Premier Daniel Andrews said, ""I can guarantee and assure all Victorian taxpayers that this is great value for money, because these are strong jobs in a strong business."

David Jones flagship store on Elizabeth Street in Sydney will not be neglected.  Woolworths Holdings will pour another $200 Million into it to expand it from a seven-level store to eleven levels.