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Greenlit Brands
Greenlit Brands, formerly Steinhoff Asia Pacific Group, is the Australian subsidiary of Steinhoff International. It owns the furniture retailers Freedom Furniture, Fantastic Furniture and Snooze. History Steinhoff International acquired South African company Pepkor in November 2014. In October 2016, Steinhoff Asia Pacific announced it would acquire Fantastic Holdings for . Fantastic Holdings included the chains Fantastic Furniture, Plush, Le Cornu and Original Mattress Factory. In September 2018, Steinhoff Asia Pacific rebranded as Greenlit Brands to distance itself from the controversy surrounding its parent company. In November 2019, Greenlit announced it would sell its entire general merchandising division to private equity firm Allegro Funds. The deal included Best & Less, Harris Scarfe and Postie. In October 2021, Greenlit sold its Plush sofa business to Nick Scali Furniture for $110 million. In June 2022, Greenlit sold its Original Mattress Factory retail business. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Subsidiary
A subsidiary, subsidiary company or daughter company is a company owned or controlled by another company, which is called the parent company or holding company. Two or more subsidiaries that either belong to the same parent company or having a same management being substantially controlled by same entity/group are called sister companies. The subsidiary can be a company (usually with limited liability) and may be a government- or state-owned enterprise. They are a common feature of modern business life, and most multinational corporations organize their operations in this way. Examples of holding companies are Berkshire Hathaway, Jefferies Financial Group, The Walt Disney Company, Warner Bros. Discovery, or Citigroup; as well as more focused companies such as IBM, Xerox, and Microsoft. These, and others, organize their businesses into national and functional subsidiaries, often with multiple levels of subsidiaries. Details Subsidiaries are separate, distinct legal entities f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Steinhoff International
Steinhoff International is a multinational holding company that is dual listed in Germany and South Africa. Its holdings are in the retail sector, primarily in furniture and household goods, and include a controlling stake in South Africa's Pepkor group. The company operates in Europe, Africa, Asia, the United States, Australia and New Zealand. It is well known for an accounting scandal which led to criminal charges against its former chief executive, Markus Jooste. History Steinhoff was founded in 1964 by Bruno Steinhoff in Westerstede, Germany. Bruno Steinhoff sourced furniture from communist countries in Europe, for resale in Western Europe. In 1997, Steinhoff acquired 35 per cent of Gommagomma, a furniture company based in South Africa, and prepared for a merger the following year. The company moved its headquarters to South Africa in 1998, attracted by the low production costs, and went public on the Johannesburg Stock Exchange that same year. The merged group was heade ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Freedom Furniture
Freedom is a major furniture and homewares retail chain operating in Australia and New Zealand. The chain was previously owned by marathon runner and race car driver Warren Higgs. It is currently owned and operated by Greenlit Brands. The first Australian store opened in 1981. The first New Zealand store opened in 1996. The New Zealand arm had 13 stores by 2008. and 15 stores by 2009. In 2023 Freedom saw the closure of 2 New Zealand stores; Palmerston North & Taupō. Leaving 12 remaining stores around New Zealand including five in Auckland. See also * Steinhoff International Steinhoff International is a multinational holding company that is dual listed in Germany and South Africa. Its holdings are in the retail sector, primarily in furniture and household goods, and include a controlling stake in South Africa's P ... References External links * – Australia * – New Zealand {{Retailers in New Zealand Furniture retailers of Australia Furniture retailers ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fantastic Furniture
Fantastic Furniture is an Australian owned and operated furniture retailer. It is a subsidiary of Greenlit Brands. History Fantastic Furniture started as a market stall at Sydney's Parklea Markets in 1989, by friends Paul Harding and Jonathan De Jong, selling outdoor furniture. Two years later, the first Fantastic Furniture public store opened at Birkenhead Point. The following year the Fantastic Lounge Factory opened and started production of Australian made sofas and lounges for Fantastic Furniture. In the following years, the business couldn't keep up with the demand and in 1996 it went into administration. The business was subsequently acquired by Peter Brennan, Peter Draper and Julian Tertini and underwent a restructure. Over the next few years a number of Fantastic Furniture stores opened across NSW. In 2006, Fantastic Furniture acquired Royal Comfort Bedding (RCB), a NSW mattress manufacturer, to produce its mattress range in Australia. Today, Fantastic Furniture is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pepkor
Pepkor is a South African-based investment and holding company with business interests in Africa, Australia and Eastern Europe. It manages a portfolio of retail chains focused on the value market selling predominantly clothing, footwear and textiles. Its main operating subsidiaries are Pep and Ackermans in South Africa and Best & Less in Australia, all based on a high volume/lower margin business model. Formally known as Pep (store), PEP stores the company changed its name to Pepkor Limited in 1982 and PEP stores became a subsidiary company. In 2011 private equity company Brait bought a 24,6% stake in Pepkor for R4,18bn, valuing the company at about R17bn. Pepkor aims to expand its presence in the rest of Africa by opening 50 stores in Nigeria. In 2014 Christo Wiese sold Pepkor to Steinhoff International in exchange for about 20% of Steinhoff's issued shares. During the COVID-19 pandemic in South Africa, COVID-19 pandemic, Pepkor ceased to pay rents for its retail locations whi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nick Scali Furniture
Nick Scali Furniture is a publicly listed, manufacturing Australian company that retails and imports furniture such as lounges, dining tables, coffee tables, chairs and entertainment units. Nick Scali Furniture was founded in 1962 by Nick D. Scali. ]. NickScali.com.au Corporate directors * John Ingram – Non-Executive chairman * Anthony Scali – managing direc ...[...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Best & Less
Best & Less is an Australian retailer of clothing and household linens. As of 2020, Best&Less has 246 stores as well as an online platform. History Best & Less was founded by Berel Ginges in January 1965, by occupying part of the ground floor of the department store "Snows" which was in the process of closing down. Prior to trading as Best & Less, the store was known as "Shenows". Best & Less officially opened their first store in Parramatta on 27 May 1965. Best & Less was known for its frugal in-store appearance, with minimal fixtures, and its advertising tagline was "You don't pay for any fancy overheads". The ads often featured Joy Muir, then president of the Australian Housewives' Association, delivering the line to cameras. In December 2019, Allegro Funds acquired Best & Less from Greenlit Brands. Throughout Australia they now have over 180 stores. Best & Less Group was floated on the Australian Securities Exchange Australian Securities Exchange Ltd or ASX, is an Austr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Postie
Postie, formerly Postie Plus, is a New Zealand clothing store chain. It was founded in 1909 by Thomas Dellaca. As of October 2022, Postie has 61 stores as well as an online platform. Together with Australian retailer Best & Less, it forms the Best & Less Group. History Postie was founded in 1909 by Thomas Dellaca as a boot repair shop near Reefton. The Postie Plus Group purchased the Arbuckles manchester chain in 2003 for . In September 2003, Postie Plus was floated on the New Zealand stock exchange. In January 2009, Jan Cameron purchased Arbuckles from Postie. In April 2012, Postie Plus sold its Babycity chain of stores. In January 2014, the company sold its SchoolTex uniform brand to The Warehouse Group for . In June 2014, the company was placed in voluntary administration. In July 2014, South African investment company Pepkor acquired Postie. Steinhoff Asia Pacific (later renamed Greenlit Brands Greenlit Brands, formerly Steinhoff Asia Pacific Group, is the Austral ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Harris Scarfe
Harris Scarfe is an Australian retailer that sells bed linen, kitchenware, homewares, electrical appliances and apparel. It has a e-commerce retail presence in Australia and is considered a multi-channel lifestyle and homewares store. Founded in 1849 in Adelaide, South Australia, Harris Scarfe currently operates 52 retail stores nationally as a full range lifestyle and homewares store. In 2015, ownership of Harris Scarfe was transferred to Steinhoff Asia Pacific, an international retail and manufacturing conglomerate listed on the Frankfurt stock exchange. In December 2017, Steinhoff’s was accused of overstating its profits and the share price dropped by 90% The company then entered a period of intense asset sell off, which resulted in Harris Scarfe being sold to Allegro private equity group in December 2019. Shortly after, Allegro put Harris Scarfe and its related entities into administration. Spotlight Group then bought the business out of administration in April 2020. His ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Retail Companies Of Australia
Retail is the sale of goods and services to consumers, in contrast to wholesaling, which is sale to business or institutional customers. A retailer purchases goods in large quantities from manufacturers, directly or through a wholesaler, and then sells in smaller quantities to consumers for a profit. Retailers are the final link in the supply chain from producers to consumers. Retail markets and shops have a very ancient history, dating back to antiquity. Some of the earliest retailers were itinerant peddlers. Over the centuries, retail shops were transformed from little more than "rude booths" to the sophisticated shopping malls of the modern era. In the digital age, an increasing number of retailers are seeking to reach broader markets by selling through multiple channels, including both bricks and mortar and online retailing. Digital technologies are also affecting the way that consumers pay for goods and services. Retailing support services may also include the provision o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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