Anchorage Capital Partners, the new owners of department store giant David Jones, has shared its plans to build its online presence into a billion-dollar behemoth.

Upmarket department store David Jones is back in local hands as Anchorage Capital Partners takes the keys on Monday to the 185-year-old retail icon, aiming to create a near-$1 billion online business by doubling web turnover.

Managing partner and new chairman Simon Woodhouse told AFR that it would bolster its digital store.

“We have significant upside in the online business, which prints $400 million in revenue at the moment, with an older system which is being fully upgraded as a priority,” he said. “We think this can double in size and be closer to a $1 billion online business.”

Partner Beau Dixon, who brokered the deal, according to AFR, said the department store suffered from a lack of attention over the past few years.

“David Jones now has a clearly defined growth plan with initiatives already being implemented and bearing fruit,” he said.

David Jones posted first-half EBITDA of $106 million; in line with the retailer’s plans to reach $200 million in EBITDA by 2025.

Sales over the first eight weeks of the year have also risen 13.6 per cent.

Fyfe was more measured in a separate interview with The Australian, noting that the RBA’s continued rate rises have resulted in a tightening of household budgets.

“We know there are headwinds that have been coming,” Fyfe said. “I think the last two interest rate hikes have made consumers more wary. I think they’re being more discerning in what they spend.

“So we do see a change of seasonality as we’re going to cooler weather but I think consumers are just being a bit more apprehensive than previously they were.

“Certainly from Christmas till now we are seeing a bit more apprehension on customers in terms of premium and luxury pieces.

“Our top end of ranges, some of our luxury pieces, we are just seeing a slight negative, they are still making growth but we are not making the growth that we were pre-Christmas.”