Kogan to keep iconic Australian retailer Dick Smith alive
An Australian online retailer has offered an olive branch to the iconic electronics brand Dick Smith.
It was believed life was over for Dick Smith, as the company went into voluntary administration in January and closed down all of its physical stores, resulting in thousands of job losses.
On Tuesday, Kogan.com announced it would swoop in and buy the failed company -- and turn it into an online-only business. The revitalised company, purchased for an undisclosed sum, will start on June 1 and run with a dual brand strategy alongside Kogan.com.
You May Also Like
The founder and CEO of Kogan.com, Ruslan Kogan, said in an emailed statement he is thrilled to be able to keep the brand alive, as well as Australian owned and run.
"We will invest in building and nurturing the Dick Smith community, and honour the great legacy of this Australian business," he said.
"I remember as a kid always visiting Dick Smith to look for parts to upgrade my computer. There is a strong history of passion in the Dick Smith community for how technology can improve our lives, and we look forward to helping make it more affordable and accessible for all."
Kogan, 33, is a serial Australian entrepreneur who started his business at the age of 26 from his parents' garage. It followed a humble early life in housing commission flats, where he honed his business skills by cleaning and selling lost golf balls to golfers. In 2014, Kogan debuted on the BRW Rich List 200 with a wealth of A$320 million.
Kogan.com sells similar products to the goods Dick Smith sold for years in its brick and mortar stores. These include TVs, phones, computer equipment and appliances.
The loss of Dick Smith not only resulted in massive Australian job losses, it was also a loss for consumers with gift cards made worthless. This sale doesn't change anything on that front.
"Holders of gift cards should speak to the receivers, in respect of any entitlement of remaining credit on the cards," a spokesperson for the company told Mashable Australia. "Kogan.com has offered a A$25 Kogan.com gift voucher in exchange for any gift card posted to Kogan."
Have something to add to this story? Share it in the comments.
Jenni Ryall is Mashable's VP of Content Strategy. She spends her time launching cool, new things such as Mashable Deals and Mashable Reels. On the other days, she is developing strong partnerships with companies including Apple News, Flipboard, Snapchat, Facebook, Twitter and Reddit.
