DStore
From Wikipedia, the free encyclopedia
| dStore Australia Pty Ltd | |
|---|---|
| Type | Public (Unlisted) Company |
| Founded | 1999 |
| Headquarters | Fortitude Valley, Queensland, Australia |
| Key people | Andrew Cooper, CEO |
| Industry | Retail |
| Products | dStore.com.au dStore.com |
| Slogan | "your online department store" |
| Website | dstore.com.au |
| Type of site | e-commerce |
| Available in | English |
| Launched | 1999 |
Contents |
[edit] History
David Gold, Formerly vicepresident of business development for LookSmart Australia, established dStore in January 1999. Gold recognised the need for dStore to win the trust of consumers and build a relationship with them in order to win their business, and put his money where his mouth was, using TV to establish a big brand presence [1].
In its early days, dStore raised around AU$36 million and was backed by some of the biggest names in Australian business[2] including the founder of LookSmart, Evan Thornley, and Kerry Packer's ninemsn. Businessman and former NSW Premier, Nick Greiner, gave up a board seat at Coles Myer to become chairman of dstore but resigned shortly before it was sold for an undisclosed sum to the Harris Scarfe group in November 2000 for AU$3 million [3].
dStore is reported to have burnt through $23 million in its first year of operating due to difficulty in luring online customers, and a failed bid to raise a further $10 million among investors in January 2000 [4].
In April 2001, Harris Scarfe was placed in receivership and dstore was offered for sale by receivers and managers, Ferrier Hodgson. HotShed Retail acquired dStore on the 10th of September, 2001. HotShed Retail paid a reported $615,000 for dStore and immediately re-launched it using HotShed’s technology platform. A break-even result for dstore was reported in the 2001 Christmas quarter[5].
[edit] Locations
dStore's fulfilment centres are located in capital cities around Australia as well as in the United States and Hong Kong.
[edit] Product & Services
After being acquired by HotShed Retail, dStore initially sold VHS Movies, CDs and console games before expanding into gifts, DVDs, fragrances, cosmetics, homewares, toys, computers, electronics, books and more. dStore also provides reward and incentive programs for corporate clients.
[edit] References
- ^ The top 10 most influential people. Retrieved on 2008-05-22.
- ^ Dstore confirms first profit. Retrieved on 2008-05-22.
- ^ HotShed eyes dstore. Retrieved on 2008-05-22.
- ^ Dstore Sold to Bricks-and-Mortar Chain. Retrieved on 2008-05-22.
- ^ Dstore confirms first profit. Retrieved on 2008-05-22.
