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

 


Mitre 10 NZ One of Asia-Pacific’s Fastest Growing Retailers

6 December 2012

Mitre 10 NZ One of Asia-Pacific’s Fastest Growing Retailers

Mitre 10 New Zealand is one of the fastest growing retailers in the Asia-Pacific region.

New Zealand’s leading home improvement and gardening retailer was recently awarded a top spot on the Asia-Pacific top 10 fastest growing retailers list at an awards ceremony in Shanghai.

Amongst prestigious businesses such as Australian power-brands Harvey Norman and Woolworths, and China’s Gome Electrical Appliances, Mitre 10 New Zealand is the fourth fastest growing retailer in Asia-Pacific, and the country’s only retailer to make the growth list.

The 2012 Retail Asia-Pacific Top 500 Awards were held in Shanghai in September, featuring leading retailers in 14 Asia-Pacific economies.

The rankings covered companies in 14 key markets and 10 retail formats measured on total sales turnover.

The ninth awards ceremony “recognised the market leadership of major Asia-Pacific retailers and celebrated their successes and accomplishments in their respective markets.”

Mitre 10 CEO John Hartmann welcomed the result as it acknowledged rapid growth in Mitre 10’s store-on-store sales as well as the expansion of its highly successful Mitre 10 MEGA format.

“To be named the fourth fastest growing retailer in Asia-Pacific’s Top 500 Awards is a fantastic achievement. It shows we are getting our product lines, our customer service and our marketing just right,” said Mr Hartmann.

“Mitre 10 network sales for the 2012 financial year were $858.37 million up 6.5% on the previous years’ $805.47 million, the highest in the company’s 38 year history.

“Our network investment has seen us build 22 new Mitre 10 MEGA stores in eight years to 2010, with our next 22 stores being built before 2015 in just four years.

“Our fourth MEGA to open in the last quarter of 2012, Rotorua, is opening on December 7, and creates a network of 34 Mitre 10 MEGA stores across New Zealand. Mitre 10 is dedicated to investing in the provinces, as well as metropolitan centres. The stores we have opened this year in Christchurch, Whangarei, Manukau and Rotorua have created more than 200 new jobs.

“Mitre 10 has been a household name since 1974 and has been voted the most trusted home improvement retail brand in New Zealand three times and in 2008 voted the number one most trusted retail brand in New Zealand. Our commitment to home improvement is apparent in our continued roll out of stores and our instructional Mitre 10 Easy As campaign which launched in April this year, and has seen the online videos component reach over 325,000 views already.

“To support Mitre 10s rapid growth, we have aggressively expanded our sourcing offices based in both New Zealand and China, ensuring that we continue to build upon the competitive pricing and increased range that has earned our place as New Zealand’s leading home improvement retailer.”

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Housing: Affordability Drops 14%, Driven By Auckland Prices

Housing affordability across New Zealand fell 14 percent in the year ending November 2014, with Auckland’s lack of affordability set to reach levels it hit during the height of the global financial crisis, according to the latest Massey University Home Affordability Report More>>

ALSO:

The Dry: Fonterra Drops Forecast Milk Volumes By 3.3 Percent

Fonterra Cooperative Group, the worlds largest dairy exporter, reduced its milk volume forecast for the 2014-2015 season by 3.3 per cent due to the impact of dry weather on production in recent weeks. More>>

ALSO:

Strike: Lyttelton Port Workers Vote To Escalate Dispute

Members of the Rail and Maritime Transport Union (RMTU) at Lyttelton Port today voted to escalate their industrial action. Around 200 RMTU members have been operating an overtime ban since 17 December and today they endorsed a series of full withdrawals of labour at the port. More>>

ALSO:

Scoop Business: NZ Dollar Falls To 3-Year Low As Investors Favour Greenback

The New Zealand dollar fell to its lowest in more than three years as investors sold euro and bought US dollars, weakening other currencies against the greenback. More>>

ALSO:

Scoop Business: NZ Govt Operating Deficit Smaller Than Expected

The New Zealand’s government’s operating deficit was smaller than expected in the first five months of the financial year as a clampdown on expenditure managed to offset a shortfall in the tax-take from last month’s forecast. More>>

ALSO:

0.8 Percent Annually:
NZ Inflation Falls Below RBNZ's Target

New Zealand's annual pace of inflation slowed to below the Reserve Bank's target band in the final three months of the year, giving governor Graeme Wheeler more room to keep the benchmark interest rate lower for longer.More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news