Etailer acquires retail icon

Australian online department store Kogan.com has announced the purchase of Dick Smith. 

Kogan.com will run Dick Smith as an online-only consumer electronics retailer in Australia and New Zealand.

Kogan sells across a range of categories including fashion items from Bonds, Nike, Havaianas and Converse.

Kogan founder Ruslan Kogan said he is thrilled to keep an iconic Australian brand alive.

“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.”

Dick Smith receiver James Stewart confirmed the sale.

“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.

Kogan.com was advised by Arnold Bloch Leibler, and Dick Smith’s Receivers were advised by Norton Rose Fulbright for this transaction.