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E-commerce

Dick Smith marks one year in new format

Dick Smith relaunched as an online-only retailer one year ago this month, and the iconic electronics brand is celebrating by offering discounts on dozens of items.

Apple, LG, Samsung and Asus are among the popular brands included in the anniversary sale.

Chief executive Ruslan Kogan said the company’s success in the online-only format shows he was right to acquire Dick Smith’s online assets last year.

“People thought the Dick Smith brand could not be revived, and we knew it was a mammoth task. Many had written the business off, but we crunched the numbers and knew we could make it work — and that’s exactly what we’ve done,” he said.

After collapsing into administration in January 2016 and failing to find a buyer interested in running the business as a going concern, Dick Smith sold its online assets to Kogan.com in March.

Kogan.com relaunched the brand as a pureplay online retailer in May and says it’s doing better than ever before.

“Trust takes decades to build and can be lost very quickly, but we knew that we could save Dick Smith if we delivered genuine value to shoppers and backed it up with great service,” Kogan said.

Kogan said his own relationship with the brand played a role in the decision to save Dick Smith.

“I remember as a kid, I was always visiting Dick Smith to look for parts to upgrade my computer. There is a strong history of passion in the community for how technology can improve our lives and it has been a privilege to maintain and grow the legacy of this great Australian brand.”

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Larry

May 16, 2017 at 7:34 pm

Shows sound acquisition rationale and brilliant execution by Kogan

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