Pureplay online retailer, Kogan.com, has today announced it’s forked out the dollars and bailed Dick Smith online retail business out of trouble.
Kogan.com will continue the legacy of the Dick Smith brand and run the Dick Smith businesses as an online-only consumer electronics retailer in Australia and New Zealand.
CEO and founder of Kogan Ruslan Kogan said, “Dick Smith is an iconic Australian brand and we’re thrilled to be able to keep it alive, as well as Aussie owned and run.
“We will invest in building and nurturing the Dick Smith community, and honour the great legacy of this Australian business.
“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.”
James Stewart, receiver, Dick Smith Electronics Pty Ltd added, “After a thorough process with multiple bidding parties we are pleased that Kogan.com is the successful acquirer of the Dick Smith online business.
“As Australia’s largest pureplay online retail website, Kogan.com is a natural and logical owner of the Dick Smith online business and we are particularly pleased that the Dick Smith brand will continue under its stewardship.”
There will be a transition period during the closure of the bricks and mortar store network. Kogan.com will operate the online business from 1 June 2016.
Customer information currently held by Dick Smith will be handled in accordance with the requirements of Australian and New Zealand privacy law during the change of ownership. All Dick Smith customers will be contacted with the option of having their details removed prior to the transfer to new owners.
Customers who provided their information to Dick Smith after the appointment of Receivers on 4 January 2016 will not have that information disclosed to the new owners.