Kogan.com has acquired the online assets of Dick Smith including the brand and goodwill. Dick Smith will phase out its physical stores and Kogan will start operating Dick Smith as an online business from the first of June. Hence, the iconic Dick Smith brand will live on. The acquisition amount hasn’t been disclosed.
The receivers failed to find a buyer of the assets. They were therefore forced to throw in the towel and started to liquidate Dick Smith’s assets at the end of February.
Kogan.com is a pure-play online retailer from Australia that entered the NZ market a few years ago. It sells a broad range of electronics products and also markets its own branded products.
Ruslan Kogan, the founder and CEO of Kogan.com, says that his firm will invest in the Dick Smith brand and community. Kogan.com is strong operationally and has invested heavily in its retail systems. An asset that it now can leverage when incorporating Dick Smith’s online business.
Extended warranties honoured
Here’s some good news for all Kiwis that have purchased products at Dick Smith over the years: all extended warranties sold by Dick Smith across Australia and New Zealand will be honoured.
The Warranty Group, which is the provider of Dick Smith’s extended warranty services, has decided that warranties sold after the first of January when the company went into receivership will also be honoured. Hence, everything you bought from Dick Smith is covered!
There are presently 135,000 extended warranties from Dick Smith in Australia and New Zealand according to the Warranty Group, which has more than three million customers in New Zealand and Australia.