Kogan to revive the Dick Smith brand

The Dick Smith brand is set to be revived by online retailer Kogan and be transformed into an online-only consumer electronics retailer.

Dick Smith entered receivership at the beginning of the year due to mounting debts. But Kogan has now arranged to purchase the company’s online retail business from its receivers through a bidding process.

While Dick Smith will lose its network of brick-and-mortar stores, the brand will live on as an online store in Australia and New Zealand.

The purchase also includes Dick Smith’s customer information database. Customers will be contacted prior to the transfer to give them the option to have their details removed. Kogan will take over the Dick Smith online business from 1 June.

Kogan co-founder and CEO Ruslan Kogan said the company plans to invest in building and nurturing the Dick Smith business.

“Dick Smith is an iconic Australian brand and we’re thrilled to be able to keep it alive, as well as Aussie owned and run,” he 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.”

Image courtesy of wonderferret under CC