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Kogan.com buys Dick Smith online retail business

Kogan.com buys Dick Smith online retail business

Takes over the online business from June 1

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Kogan founder and CEO, Ruslan Kogan.

Kogan founder and CEO, Ruslan Kogan.

Online retailer, Kogan.com has purchased the Dick Smith online retail business, and will take over from June 1.

Kogan plans to keep the legacy of the Dick Smith brand and run it as an online-only consumer electronics retailer.

“We will invest in building and nurturing the Dick Smith community, and honour the great legacy of this Australian business,” Kogan.com founder, Ruslan Kogan, said.

“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 Electronics receiver, James Stewart from Ferrier Hodgson, said it went through a thorough process with multiple bidding parties.

“As Australia’s largest pure play online retail website, Kogan.com is a logical owner of the Dick Smith online business and we are particularly pleased that the Dick Smith brand will continue under its stewardship,” Stewart said.

Dick Smith customer information will be handled in accordance with the requirements of Australian and New Zealand privacy law during the change of ownership. They will also be contacted with the option of having their details removed prior to the transfer to the new owners.

Customers who provided their information to Dick Smith after the appointment of Receivers on January 4 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.

In January, Coles along with online stores Kogan and Mwave.com.au stepped up to help stranded Dick Smith customers with outstanding gift vouchers, after receivers said they would not be honoured.

Despite a significant amount of interest, the receivers failed to find a buyer for the 363 Dick Smith outlets that are closing down in the coming weeks across A/NZ, impacting close to 3000 employees.

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Tags Dick Smith ElectronicKogan.comacquisition

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