July 17, 2019

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HOME REGIONS Asia-Pacific › Dick Smith cleared for takeoff at Sydney airport

Dick Smith cleared for takeoff at Sydney airport

by Stuart Wilson, Friday 5 September 2014

Australian retail powerhouse Dick Smith has successfully tendered to open seven stores in Sydney airport locations from February 2015. The new stores will use the Move by Dick Smith retail format, allowing flyers to purchase the latest consumer electronics products and accessories. In an exclusive partnership with Gebr. Heinemann, the world’s fifth largest duty free operator, Dick Smith will open the Move stores at the Sydney international and Virgin domestic terminals.

Nick Abboud, Dick Smith Managing Director and CEO, said “We are extremely excited to join Gebr. Heinemann and provide Sydney flyers with their consumer electronics needs under our innovative Move store banner, whether they are computers, tablets, audio or accessories. Customers will be able to buy the product they need at all seven locations or chose to click and collect, ordering online and picking up airside, increasing convenience and shopping experience.”

“This opportunity is consistent with our strategy of achieving strong sales and profit growth through low capital intensity initiatives such as David Jones and Move. We anticipate this initiative generating up to AUS$50m (US$46.8m) in sales in the first full year, at modest capital expenditure or set up costs,” he continued.

“Customers will benefit from Move’s innovative retail concepts and products, as well as the strong buying power associated with Dick Smith’s 380 stores, with margins anticipated to be similar to those enjoyed by the Company. These stores are in addition to the approximately 20 new stores we expect to open in 2015,” said Abboud.

The Sydney airport contract term is initially for six and a half years. Dick Smith now plans to look at further opportunities with Gebr. Heinemann to expand its reach throughout Asia.

DISTREE APAC 2014

Channel EMEA is an official Media Partner for regional technology and consumer electronics retail channel event DISTREE APAC and is expanding its coverage to include the region. Vendors requiring more information about DISTREE APAC can contact events@channelemea.com quoting code DAP14.

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