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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

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