Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Mitre 10 New Zealand Secures Brand Ownership

Mitre 10 New Zealand Secures Brand Ownership and Enters Strong Growth Phase

Mitre 10 (New Zealand) Limited is about to enter a new phase of its development, with the acquisition of full ownership of its brand names, the appointment of a new chief executive and aggressive plans for growth.

The organisation announced today it had acquired full ownership of the Mitre 10 brands for New Zealand. This action followed the sale of 50.1% of Mitre 10 Australia to Metcash Trading Limited. Metcash have an option to acquire the remaining 49.9% by 2013.

Started in New Zealand in 1974, Mitre 10 New Zealand is a completely separate company from Mitre 10 Australia and, as a co-operative, is wholly owned and operated by Kiwi families. It is substantially larger than its nearest competitor, with a total of 110 stores nationwide, 3,500 staff and sales approaching $1 billion a year.

Mitre 10 NZ previously used the name under registered user agreement from brand owner, Mitre 10 Limited which, following the Australian deal, no longer exists.

The Chairman of the Mitre 10 New Zealand Board, Martin Dippie, who was closely involved in the negotiations with Mitre 10 Limited, said: “We’re very pleased to now have full ownership of the Mitre 10 brands for New Zealand. This will ensure Mitre 10 New Zealand remains in control of its own destiny now and in the future.”

Dippie also announced the appointment of John Hartmann as the co-op’s new chief executive. “John is a former COO of HD Supply, a leading American wholesale distribution company, and prior to that worked for Home Depot – the world’s largest home improvement retailer.

“His expertise will be invaluable in leading Mitre 10 New Zealand as we enter our next major growth phase. We are very proud of our past successes but know we have to consistently innovate to remain as New Zealand’s No. 1 home improvement retailer.”

He said the co-op’s expansion plans included a major roll-out of new Mitre 10 Mega stores across the country.

“Mitre 10 Mega was launched here in New Zealand in 2004 and has been phenomenally successful. Our 23rd Mega will open before Christmas in Mount Wellington in Auckland, and we expect to have at least another 10 open by the end of 2011.”

The Mitre 10 brand has become a New Zealand icon over the past 36 years and, last year, won the title of the Readers Digest Most Trusted Retail Brand in the country.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Manawatu-Whanganui Projects: PGF Top-Up To Rural Broadband Roll-Out

The government has effectively raided the $3 billion Provincial Growth Fund to top up the budget for the second phase of its rural broadband initiative, filling in mobile 'black spots' and ensuring broadband is available to marae that don't have access now. More>>

ALSO:

Other Windy Cities: Auckland-Chicago Named A Top 10 ‘Most Exciting’ New Route

The inclusion of Auckland-Chicago on Lonely Planet’s Where to fly in 2019? The 10 most exciting new flight routes list comes just two weeks before Air New Zealand prepares to celebrate its inaugural flight to Chicago’s O’Hare International Airport on 30 November. More>>

Deadly Strain: ESR Ups Its Reporting On Meningococcal Disease

The increasing number of cases of Group W Meningococcal disease (MenW) has prompted ESR to increase its reporting on the disease to the Ministry of Health. ESR has upped its reporting to weekly. More>>

ALSO:

Very Small Things: "Game-Changing" 3D Printing Technology Launched

New Zealand microfabrication researchers Andrea Bubendorfer and Andrew Best, the co-inventors of a new way of fabricating very small things with Laminated Resin Printing (LRP), are part of Callaghan Innovation’s MicroMaker3D team launching the new patent pending technology in the US this week. More>>

ALSO: