Dick Smith's brand and trademarks, the online business in Australia and New Zealand, customer and loyalty databases, websites and domain names, have been acquired by retail entrepreneur Ruslan Kogan for an undisclosed sum.
Kogan, who owns and runs discount e-commerce site Kogan.com, bought Dick Smith's intellectual property (IP) for an undisclosed amount after a two-month auction by Dick Smith's receivers and managers, Ferrier Hodgson.
"Dick Smith is one of the most iconic Australian retail brands and we will be able to leverage the millions of dollars we've invested into online retail systems and architecture over the last decade to sustainably run the business," Kogan told Fairfax Media.
Kogan will assume control of the IP in June and plans to operate the site as a separate online channel to Kogan.com. He reveals that he will continue to sell branded and private label consumer electronics and appliances through his existing venture, but the combined volume of both properties will allow him to secure more favourable trading deals with suppliers.
A Belarussian migrant, Mr Kogan founded kogan.com almost 10 years ago, selling cheap consumer electronics such as private label TVs sourced directly from China and branded smartphones and tablets sourced from grey markets or through parallel imports.
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