Australia’s pureplay online retailer Kogan.com has acquired Dick Smith’s online business.
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.
“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,” Kogan founder and CEO, Ruslan Kogan, said in a statement.
Kogan said they 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,” he said.
Receiver Ferrier Hodgson in February announced the permanent closure of Dick Smith’s 363 Australian and New Zealand stores, but the online business will pass to Kogan.com from June 1 after it beat several bidders for the Dick Smith online brand and customer database.
Kogan, who started his retail business by undercutting the likes of Dick Smith through selling televisions he sourced directly from manufacturers, said he would use the platform to make technology more affordable for consumers.
