Retail brand lives on in the virtual world
Its physical stores may be closed, but Dick Smith is “back and better than ever” according to its website.
The brand was bought by Australian e- commerce entrepreneur Ruslan Kogan for A$ 2.6 million ($ 2.7m) in March. Just a day after the last of the 390 bricks and mortar stores closed, the new Dick Smith website was launched in both countries.
Since the relaunch in May, Dick Smith has delivered A$ 6.5m ($ 6.8m) in revenue to Kogan.
The Melbourne- based company
Then there was a scribbled note that seemed to go to the very heart of how retailing works. It said: “Retailer buy cheaper than dearer.”
The note was written by former non- executive director Lorna Raine, reported a net profit of A$ 800,000 from revenue of A$ 211.2m.
Despite the new site offering a range of products and brands, Dick Smith’s own branded products have been noticeably absent, with Kogan deciding not to stock them.
Kogan has said he planned to continue the legacy of the brand, and compared to the slim pickings at closing down sales across the country, the New Zealand website has a vast selection of tech and gadgets — although noticeably less than its Australian counterpart. who told the court: “I think that refers to a discussion that as a retailer it’s better to buy stock at a cheaper price than a more expensive price.” Giles appeared incredulous. “Surely there i s an element of
Under the FAQ section titled “Why should I trust Dick Smith again” the company says it will be around for a long time to come.
“The New Dick Smith Online store is owned and run by the team at Kogan. com, Australia’s largest pure- play online retailer, with over 10 years experience in providing the best online deals in electronics and home appliances,” it says.
“We’ve been around for a long time, and . . . we’re not going anywhere.” stating the obvious,” he said. “What was the discussion about?”
Raine said she didn’t “recall the specifics of the conversation”.
Ex- director Wavish was himself a topic of discussion in the court.