James Pascoe Group
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The James Pascoe Ltd Group of Companies is a privately owned
New Zealand New Zealand ( mi, Aotearoa ) is an island country in the southwestern Pacific Ocean. It consists of two main landmasses—the North Island () and the South Island ()—and over 700 smaller islands. It is the sixth-largest island count ...
retail
group A group is a number of persons or things that are located, gathered, or classed together. Groups of people * Cultural group, a group whose members share the same cultural identity * Ethnic group, a group whose members share the same ethnic ide ...
with holdings across New Zealand and Australia. JPG owns and operates
chains A chain is a serial assembly of connected pieces, called links, typically made of metal, with an overall character similar to that of a rope in that it is flexible and curved in compression but linear, rigid, and load-bearing in tension. A c ...
Pascoes the Jewellers, Stewart Dawsons and Goldmark (all jewellers);
department store A department store is a retail establishment offering a wide range of consumer goods in different areas of the store, each area ("department") specializing in a product category. In modern major cities, the department store made a dramatic app ...
Farmers A farmer is a person engaged in agriculture, raising living organisms for food or raw materials. The term usually applies to people who do some combination of raising field crops, orchards, vineyards, poultry, or other livestock. A farmer mi ...
(with Goldmark jewellery
kiosk Historically, a kiosk () was a small garden pavilion open on some or all sides common in Iran, Persia, the Indian subcontinent, and in the Ottoman Empire from the 13th century onward. Today, several examples of this type of kiosk still exist ...
s in some stores);
homeware Home accessories are furniture items which are easy to replace and easy to move, and include almost any items that are not strictly functionally necessary in a decorated space. These accessories include such items as curtains, sofa sets, cushions, t ...
retailer Stevens; and
bookshop Bookselling is the commercial trading of books which is the retail and distribution end of the publishing process. People who engage in bookselling are called booksellers, bookdealers, bookpeople, bookmen, or bookwomen. The founding of librar ...
Whitcoulls Whitcoulls is a major New Zealand book, stationery, gift, games & toy retail chain. Formerly known as Whitcombe & Tombs, it has 54 stores nationally. Whitcombe & Tombs was founded in 1888, and Coulls Somerville Wilkie in 1871. The companies mer ...
in New Zealand. The group's three Australian businesses are jewellers Prouds the Jewellers, Angus & Coote and Goldmark, with over 460 stores across Australia as of 2012. Goldmark is the only brand operating in both countries.


History

The company traces its origins to a small
jewellery shop A jewellery store (American English: jewelry store) is a retail business establishment, that specializes in selling (and also buying) jewellery and watch A watch is a portable timepiece intended to be carried or worn by a person. It is des ...
founded by James Pascoe in Auckland in 1906. The business has been under the direction of his
granddaughter Family (from la, familia) is a group of people related either by consanguinity (by recognized birth) or affinity (by marriage or other relationship). The purpose of the family is to maintain the well-being of its members and of society. Ideall ...
, Anne Norman and her husband David since the 1980s. Under their control, the original family jeweller has turned into a 'retail empire' encompassing eight New Zealand and Australian retailers. The Group specialises in turning around loss-making retailers, and has never sold a business. Today James Pascoe Group is one of New Zealand's largest businesses and employers.


Size

The James Pascoe Group is larger than
The Warehouse Group The Warehouse Group (TWG) was founded by Stephen Tindall in 1982, and is the largest retail group operating in New Zealand. It is a corporate group that consists of The Warehouse, Warehouse Stationery, Torpedo7, Noel Leeming, 1-day and TheMark ...
. With its five jewellery retailers and hundreds of stores, JPG has a large share of Australasian jewellery sales (generating revenue of $750 million in Australia alone in 2010) and is a global jewellery
buying power Bargaining power is the relative ability of parties in an argumentative situation (such as bargaining, contract writing, or making an agreement) to exert influence over each other. If both parties are on an equal footing in a debate, then they wi ...
. At the time of the acquisition of Angus & Coote, David Norman commented "To us it makes sense to harness the
economy of scale In microeconomics, economies of scale are the cost advantages that enterprises obtain due to their scale of operation, and are typically measured by the amount of output produced per unit of time. A decrease in cost per unit of output enables a ...
when it comes to sourcing, and marketing" Rivals of the James Pascoe Group include Michael Hill International (although JPG is over four times its size), and Showcase Jewellers (with almost 250 stores in Australia, and around 30 in New Zealand) Acquiring Whitcoulls made JPG the biggest tenant of New Zealand's then-12 Westfield shopping centres.


Companies


Pascoes the Jewellers

Pascoes the Jewellers was founded by James Pascoe at Three Lamps in Ponsonby, Auckland in 1906. The company was incorporated in 1937. (Not to be confused with independent
Queensland ) , nickname = Sunshine State , image_map = Queensland in Australia.svg , map_caption = Location of Queensland in Australia , subdivision_type = Country , subdivision_name = Australia , established_title = Before federation , established_ ...
, Australia retailer Pascoe Jewellers.) After the death of James Pascoe in 1966, the business was managed by a trust until Anne and David Norman took control in 1980. While some growth throughout the
North Island The North Island, also officially named Te Ika-a-Māui, is one of the two main islands of New Zealand, separated from the larger but much less populous South Island by the Cook Strait. The island's area is , making it the world's 14th-largest ...
took place under the trust, it wasn't until Norman control that the group started expanding into the rest of the country. As of 2013 there are 37 Pascoes the Jewellers stores across New Zealand, offering the country's 'largest range of jewellery and watches'. Pascoes is JPG's mid-range jeweller in New Zealand. The main rival of Pascoes the Jewellers in New Zealand is
Michael Hill Jeweller Michael Hill International Ltd. is a speciality retailer of jewellery in North America and Oceania. As at 30 June 2018, it operates 312 stores in Australia, New Zealand and Canada. The Group employs approximately 2,600 permanent employees. The c ...
''.''


Stewart Dawsons

Stewart Dawsons was founded in
Liverpool, England Liverpool is a city and metropolitan borough in Merseyside, England. With a population of in 2019, it is the 10th largest English district by population and its metropolitan area is the fifth largest in the United Kingdom, with a populat ...
in 1871 by 22-year-old
Scotsman The Scots ( sco, Scots Fowk; gd, Albannaich) are an ethnic group and nation native to Scotland. Historically, they emerged in the early Middle Ages from an amalgamation of two Celtic-speaking peoples, the Picts and Gaels, who founded t ...
David Stewart Dawson David Stewart Dawson (25 November 1849 – 6 August 1932), frequently referred to as Stewart Dawson, was an Australian manufacturing jeweller and property tycoon born in Cairnie, Aberdeenshire, Scotland. He served his apprenticeship in Dufftown ...
. Initially a jewellery manufacturer, Dawson opened his first retail shop ''Stewart Dawson of Liverpool'' in 1876. Due to the success of his products in Australia, Dawson immigrated to Sydney in 1886 and founded ''Stewart Dawsons & Co.'' After opening shops in Sydney, followed by
Melbourne Melbourne ( ; Boonwurrung/Woiwurrung: ''Narrm'' or ''Naarm'') is the capital and most populous city of the Australian state of Victoria, and the second-most populous city in both Australia and Oceania. Its name generally refers to a met ...
, then Auckland in 1885 and
Dunedin Dunedin ( ; mi, Ōtepoti) is the second-largest city in the South Island of New Zealand (after Christchurch), and the principal city of the Otago region. Its name comes from , the Scottish Gaelic name for Edinburgh, the capital of Scotland. Th ...
in 1886, and on
Regent Street Regent Street is a major shopping street in the West End of London. It is named after George, the Prince Regent (later George IV) and was laid out under the direction of the architect John Nash and James Burton. It runs from Waterloo Place ...
in London, locations were added in
Wellington Wellington ( mi, Te Whanganui-a-Tara or ) is the capital city of New Zealand. It is located at the south-western tip of the North Island, between Cook Strait and the Remutaka Range. Wellington is the second-largest city in New Zealand by me ...
and
Christchurch Christchurch ( ; mi, Ōtautahi) is the largest city in the South Island of New Zealand and the seat of the Canterbury Region. Christchurch lies on the South Island's east coast, just north of Banks Peninsula on Pegasus Bay. The Avon River / ...
. The Wellington shop on the corner of Lambton Quay and Willis Street is a
New Zealand Historic Places Trust Heritage New Zealand Pouhere Taonga (initially the National Historic Places Trust and then, from 1963 to 2014, the New Zealand Historic Places Trust) ( mi, Pouhere Taonga) is a Crown entity with a membership of around 20,000 people that advocate ...
"Category II listed" building, built for Dawson in 1901. The building is known locally as ''Stewart Dawsons Corner''. After making the company a
limited liability company A limited liability company (LLC for short) is the US-specific form of a private limited company. It is a business structure that can combine the pass-through taxation of a partnership or sole proprietorship with the limited liability of a ...
in 1907, Dawson sold it in 1931 to RHO Hills department store (now
House of Fraser House of Fraser (also operating as Frasers) is a British department store group with 44 locations across the United Kingdom, which is now part of Frasers Group. It was established in Glasgow, Scotland in 1849 as Arthur and Fraser. By 1891, it w ...
). The resulting company operated until 'around 1935'. Dawson died in 1932. Stewart Dawsons was purchased by Anne and David Norman in 1985. Today the company acts as JPG's upmarket New Zealand
diamond Diamond is a Allotropes of carbon, solid form of the element carbon with its atoms arranged in a crystal structure called diamond cubic. Another solid form of carbon known as graphite is the Chemical stability, chemically stable form of car ...
, jewellery and watch retailer, with 13 stores across the country.


Prouds

Prouds Prouds The Jewellers (commonly referred to as Prouds) is an Australian jewellery business founded by William James Proud on Pitt Street, Sydney in 1903. History Prouds was founded by William James "Bill" Proud (1871–1931) who had a vision o ...
was founded by William James Prouds on
Pitt Street, Sydney Pitt Street is a major street in the Sydney central business district in New South Wales, Australia. The street runs through the entire city centre from Circular Quay in the north to Waterloo, although today's street is in two disjointed sect ...
in 1903. In 1996 Pascoes purchased the then-93-year-old Australian jeweller, saving it from administration. At the time Prouds had 67 stores, increased to 160 by 2007, and to over 195–200 in 2013. After the acquisition of Farmers, Prouds jewellery kiosks were included in select Farmers stores across New Zealand as
store-within-a-store A store-within-a-store, also referred to as shop-in-shop, is an agreement in which a retailer rents a part of the retail space to be used by a different company to run another, independent shop. Origins In the early days of cellular telephone gr ...
. However, after the purchase of Angus & Coote, it was replaced with Goldmark, and Prouds is no longer marketed in New Zealand. In 2012 Prouds was reported as being the largest retailer by market share in Australia's estimated AU$3.8 billion jewellery industry. The same report estimated Prouds revenue as AU$600 million. Prouds reported annual income of NZ$707.6 million in 2008–2009. As of 2014 Prouds remains the largest jewellery retail chain in Australia.


Farmers

Farmers Trading Company was founded by
Robert Laidlaw Robert Alexander Crookston Laidlaw (8 September 1885 – 12 March 1971) was a New Zealand businessman who founded the Farmers (department store), Farmers Trading Company, one of the largest department store chains in New Zealand. He was also a C ...
in 1909 as mail order business ''Laidlaw Leeds''. In 1918 the company
amalgamated Amalgamation is the process of combining or uniting multiple entities into one form. Amalgamation, amalgam, and other derivatives may refer to: Mathematics and science * Amalgam (chemistry), the combination of mercury with another metal **Pan ama ...
with Auckland farming services cooperative The Farmers Union Trading Company, adopting its current name. After taking over
South Island The South Island, also officially named , is the larger of the two major islands of New Zealand in surface area, the other being the smaller but more populous North Island. It is bordered to the north by Cook Strait, to the west by the Tasman ...
chain ''Calder Mackay'' in 1970, Farmers became the country's largest department store chain. In 1986
Chase Corporation Chase Corporation was a property development company in New Zealand that flourished in the 1980s, became devalued in the 1987 New Zealand stock market collapse, and eventually collapsed in 1989. History Chase Corp had a major effect on the New Ze ...
purchased the company, but due to the share market crash less than a year later, Chase collapsed in 1989. In 1992 Farmers was purchased by '' DEKA'', the Maori Development Corporation and Foodlands Associated Ltd (FAL), which in 1993 took a controlling interest in the then-''Farmers-DEKA Group''. In 1999 the Beauty Club
loyalty program A loyalty program is a marketing strategy designed to encourage customers to continue to shop at or use the services of a business associated with the program. Today, such programs cover most types of commerce, each having varying features and ...
me was launched. In 2001 with the collapse of DEKA, 13 stores were converted to Farmers, and the company
rebranded Rebranding is a marketing strategy in which a new name, term, symbol, design, concept or combination thereof is created for an established brand with the intention of developing a new, differentiated identity in the minds of consumers, investors ...
to its current logo. In 2003 Farmers became James Pascoe Group's largest purchase yet, the retail arm bought for $122.3 million from Foodlands. The total sale was $311 million, with
Fisher & Paykel Fisher & Paykel Appliances Holdings Ltd () is a major appliance manufacturer which is a subsidiary of Chinese multinational home appliance manufacturer Haier. It is a multinational corporation based in East Tāmaki, New Zealand. Originally a ...
paying $188.7 million for the Farmers finance and credit card business. Foodlands had been attempting to sell the loss-maker, but struggled to find a buyer for the 64-store chain as several interested parties found the $300 million-plus asking price too high. Fisher & Paykel merged their existing finance business with Farmers Finance to make a nationwide retail consumer finance company. At the time Farmers had over 500,000 customer accounts, including 350,000 with a Farmers store card. Fisher & Paykel Finance has an exclusive agreement to supply financial services to the retailer for 20 years, including exclusivity of the Farmers Finance Card. To this day Farmers holds exclusive Farmers Finance Cardholder shopping events. David Norman was appointed CEO in 2004: "Believe it or not Farmers approached my wife and I regarding the possibility of operating Pascoe jewellery concessions within the department stores. When we took a closer look and saw the potential of the Farmers business it soon became clear we should return it to New Zealand ownership." He said the Normans felt "a deep sense of satisfaction that a New Zealand retailing icon is back where it should be, that is at the
forefront ForeFront Records is a contemporary Christian music and Christian rock record label founded in 1987 by Dan R. Brock, Eddie DeGarmo, Dana Key, and Ron W. Griffin. It was purchased by EMI in 1996 from Dan R. Brock and Eddie DeGarmo, and is a divi ...
of the NZ retailing industry". "When we changed the byline of Farmers to 'Your Store' we did so with the real intent of making Farmers relevant to its market. Our market surveys showed overwhelming support for the Farmers brand, its heritage, and a desire to see it succeed." The Normans have dismissed rumours of expanding Farmers into Australia to compete with the likes of
Target Target may refer to: Physical items * Shooting target, used in marksmanship training and various shooting sports ** Bullseye (target), the goal one for which one aims in many of these sports ** Aiming point, in field artillery, fi ...
and
Myer Myer (stylised MYER, sometimes known as Myers) is an Australia, Australian mid-range to upscale department store chain. It trades in all Australian states and one of Australia's two self-governing territories. Myer retails a broad range of ...
. Since taking ownership, categories such as hardware and
computers A computer is a machine that can be programmed to carry out sequences of arithmetic or logical operations (computation) automatically. Modern digital electronic computers can perform generic sets of operations known as programs. These programs ...
have been abandoned for a focus on fashion and beauty. Many stores have been redeveloped or completely rebuilt. Attempts have been made to attract a younger customer, such as ''Switch'' and ''Substation'' youth clothing brands with dedicated concept areas, and changing ''Prouds''-branded jewellery kiosks to ''Goldmark''. As part of taking the company upmarket, many stores have been extensively updated, and a new
flagship A flagship is a vessel used by the commanding officer of a group of naval ships, characteristically a flag officer entitled by custom to fly a distinguishing flag. Used more loosely, it is the lead ship in a fleet of vessels, typically the fi ...
store opened at
Westfield Albany Westfield Albany is a shopping centre in the Auckland suburb of Albany, New Zealand, opposite the Albany Lakes Civic Park. It is majority owned (51%) by Scentre Group with the remainder owned by the Singapore Government's GIC. Until 2014 it w ...
in 2007. As of 2022, Farmers major offerings include Women's Fashion, Men's Fashion, Lingerie, Serviced Cosmetics, Health & Beauty,
Accessories Accessory may refer to: * Accessory (legal term), a person who assists a criminal In anatomy * Accessory bone * Accessory muscle * Accessory nucleus, in anatomy, a cranial nerve nucleus * Accessory nerve In arts and entertainment * Accessory ...
,
Children's A child ( : children) is a human being between the stages of birth and puberty, or between the developmental period of infancy and puberty. The legal definition of ''child'' generally refers to a minor, otherwise known as a person younger ...
, Kitchen and
Tabletop Tabletop may refer to: Mountains * Table Top Mountain in Rangeville, Queensland, Australia * Table Top Mountain (New York) * Table Mountain in Cape Town, South Africa * Tepui, flat top mountains in South America Places * Tabletop, New South Wale ...
,
Small appliance A small domestic appliance, also known as a small electric appliance or minor appliance or simply a small appliance, small domestic or small electric, is a portable or semi-portable machine, generally used on table-tops, counter-tops or oth ...
s,
Manchester Manchester () is a city in Greater Manchester, England. It had a population of 552,000 in 2021. It is bordered by the Cheshire Plain to the south, the Pennines to the north and east, and the neighbouring city of Salford to the west. The t ...
, and Furniture.
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and
Major appliance A major appliance, also known as a large domestic appliance or large electric appliance or simply a large appliance, large domestic, or large electric, is a non-portable or semi-portable machine used for routine housekeeping tasks such as cookin ...
s are sent to and displayed on the floor at selected stores but can be purchased at any store as the items are freighted from the Distribution Center in Auckland. 12 (formerly 13 in 2009) some stores include ''Goldmark'' kiosks, and 17 include ''Stevens'' stores. In August 2011, the Farmers Beauty Club became Farmers Club, extending the reward scheme to the whole store. Traditional Farmers Finance Cardholder nights have been supplemented with discount events and gifts exclusively for Farmers Club members.


Angus and Coote

Angus & Coote was founded in Sydney, Australia in 1895 and
listed Listed may refer to: * Listed, Bornholm, a fishing village on the Danish island of Bornholm * Listed (MMM program), a television show on MuchMoreMusic * Endangered species in biology * Listed building, in architecture, designation of a historicall ...
on the
ASX Australian Securities Exchange Ltd or ASX, is an Australian public company that operates Australia's primary securities exchange, the Australian Securities Exchange (sometimes referred to outside of Australia as, or confused within Australia as ...
in 1952. The retailer is a leader in Australia for high quality jewellery, with its 300 stores having a 20% market share as of early 2007. In March 2007, JPG successfully completed a $A76m ($NZ87m) takeover bid of the loss-making family-owned jewellery group, including brands ''Amies'' in Queensland, ''Dunklings'' in
Victoria Victoria most commonly refers to: * Victoria (Australia), a state of the Commonwealth of Australia * Victoria, British Columbia, provincial capital of British Columbia, Canada * Victoria (mythology), Roman goddess of Victory * Victoria, Seychelle ...
and ''Edments'' in
South Australia South Australia (commonly abbreviated as SA) is a state in the southern central part of Australia. It covers some of the most arid parts of the country. With a total land area of , it is the fourth-largest of Australia's states and territories ...
and
Western Australia Western Australia (commonly abbreviated as WA) is a state of Australia occupying the western percent of the land area of Australia excluding external territories. It is bounded by the Indian Ocean to the north and west, the Southern Ocean to th ...
(all completely rebranded to Angus & Coote after November 2008) and ''Goldmark''. The Goldmark and Edments brands were part of Prouds The Jewellers, with Angus & Coote acquiring them in 1996 when JPG purchased the main Prouds brand. At the time of the purchase, David Norman suggested one or more of newly acquired Angus & Coote brands could be launched in New Zealand. Goldmark is now included as a store-within-a-store at kiosks in selected Farmers stores.


Goldmark

'One of the leading women's fashion jewellery retailers in Australia', Goldmark is a 'decades' old fashion jewellery retailer aimed at 16- to 29-year-olds. It was one of the brands included with the Angus & Coote purchase in March 2007. The current logo was introduced in 2000, and many stores have been updated to a modern look. Goldmark has over 130 stores across Australia, with over 1,000 employees throughout Australia and New Zealand. Goldmark positions itself as "the fashionable, REAL jewellery store", offering jewellery made of authentic precious metals containing genuine precious stones, as well as fashion brand watches. Before JPG ownership, in January 2003, Goldmark launched the gClub loyalty programme. In June 2009 the gClub card was introduced. Membership of the Online VIP gClub exceeds 90,000. At the time of its purchase, David Norman was interesting in the development of a market around fashion-oriented jewellery for younger consumers, commenting Goldmark had "great potential on both sides of the Tasman." In July 2007, Goldmark entered New Zealand with 4 stand-alone stores, and replaced JPG's ''Prouds'' brand at 13 kiosks in Farmers department stores. Currently there are 15 stores in New Zealand, 12 within Farmers. Goldmark's image and product range of 'contemporary female fashion jewellery' aligned with JPG's view of Farmers as New Zealand's 'leading fashion department store' and a focus on attracting a younger customer. As part of the JPG brand family, Goldmark also now carries watches and jewellery branded with the ''Chisel'' Farmers menswear store-brand.


Stevens

Stevens was founded in Auckland, New Zealand as ''Henry Stevens Ltd'' in 1924. Its first store selling household hardware and kitchen appliances was located on
Karangahape Road Karangahape Road (commonly known as K' Road) is one of the main streets in the central business district (CBD) of Auckland, New Zealand. The massive expansion of motorways through the nearby inner city area – and subsequent flight of resident ...
in Auckland. In 1946 the company was named ''Stevens Bros Ltd'', and by 1986 had spread outside Auckland into the
North Island The North Island, also officially named Te Ika-a-Māui, is one of the two main islands of New Zealand, separated from the larger but much less populous South Island by the Cook Strait. The island's area is , making it the world's 14th-largest ...
as ''Stevens for Gifts''. In the noughties, Stevens upgraded and modernised its stores, expanded as far south as Christchurch, launched an online wedding Gift Registry in 2005, and a full
online store Online shopping is a form of electronic commerce which allows consumers to directly buy goods or services from a seller over the Internet using a web browser or a mobile app. Consumers find a product of interest by visiting the website of the r ...
in 2007. James Pascoe Group purchased the 83-year-old family-owned kitchen, table and giftware 20-store chain in November 2007. By 2009 JPG had expanded the company to 30 stores. Formerly marketed as 'Stevens for Gifts' and 'Stevens Home & Giving', the chain is currently known as 'Stevens – The Kitchen Specialists'. As of 2022, there are 24 Stevens stores across New Zealand. 17 of which are featured as separate stores-within-stores within JPG's Farmers department stores, alongside Farmers own arguably less upmarket Kitchen, Tabletop and Small Appliances departments. Stevens' rivals include Dunedin-based ''Acquisitions'' (22 stores)and
Briscoe Group Briscoe Group is a New Zealand retail chain. It has 84 stores throughout New Zealand trading under the Briscoes Homeware, Living & Giving, and Rebel Sport nameplates. History The Briscoe Group originally started out as the early version o ...
's (also Farmers largest competitor for homeware) smaller ''Living & Giving'' store (St. Lukes).


Whitcoulls

Whitcoulls Whitcoulls is a major New Zealand book, stationery, gift, games & toy retail chain. Formerly known as Whitcombe & Tombs, it has 54 stores nationally. Whitcombe & Tombs was founded in 1888, and Coulls Somerville Wilkie in 1871. The companies mer ...
was founded in 1882 as Whitcombe & Tombs after a merger between printer/
bookbinder Bookbinding is the process of physically assembling a book of codex format from an ordered stack of ''signatures'', sheets of paper folded together into sections that are bound, along one edge, with a thick needle and strong thread. Cheaper, b ...
George Tombs and publisher/bookseller George Whitcombe. The business was given its current name in 1973, following a 1971 merger with 'key competitor' Coull Somerville Wilke (itself founded in 1871). Since then, the retailer passed through several owners including British book retailer
W H Smith WHSmith (also written WH Smith, and known colloquially as Smith's and formerly as W. H. Smith & Son) is a British retailer, headquartered in Swindon, England, which operates a chain of high street, railway station, airport, port, hospital and m ...
in 2001 to
private equity In the field of finance, the term private equity (PE) refers to investment funds, usually limited partnerships (LP), which buy and restructure financially weak companies that produce goods and provide services. A private-equity fund is both a ty ...
book retailer
REDgroup Retail REDgroup Retail was the former parent (private equity) company of the Australian and New Zealand divisions of Borders. It also owned other retail entities such as Angus & Robertson in Australia and Whitcoulls in New Zealand. REDgroup Retail al ...
. REDgroup sold the 10 airport stores to Australian travel retailer LS Travel Retail Pacific on 6 April 2011. Just weeks later, on 29 April, the 8 university-based ''Bennetts'' bookstores were sold to New Zealand private investor Geoff Spong. The rest of the nationwide book and stationery retailer became James Pascoe Group's latest acquisition in May 2011, with REDgroup being placed in
voluntary administration As a legal concept, administration is a procedure under the insolvency laws of a number of common law jurisdictions, similar to bankruptcy in the United States. It functions as a rescue mechanism for insolvent entities and allows them to carry o ...
. The sale included 57 Whitcoulls stores and 5
Borders A border is a geographical boundary. Border, borders, The Border or The Borders may also refer to: Arts, entertainment and media Film and television * ''Border'' (1997 film), an Indian Hindi-language war film * ''Border'' (2018 Swedish film), ...
stores with 900 staff. Today there are 59 Whitcoulls stores across the country, in addition to its online store. In 2011, one in four New Zealand households belonged to Whitcoulls loyalty scheme. At the time of the sale there was speculation JPG was buying Whitcoulls
leases A lease is a contractual arrangement calling for the user (referred to as the ''lessee'') to pay the owner (referred to as the ''lessor'') for the use of an asset. Property, buildings and vehicles are common assets that are leased. Industrial ...
to expand Farmers stores. It was also rumoured the iconic 129-year-old Queen Street Whitcoulls store could be turned into an old-style inner city flagship Farmers store to rival
Smith & Caughey's Smith & Caughey Ltd, trading as Smith & Caughey's, is a chain of two mid-sized, upscale department stores in Auckland, New Zealand. One of the oldest surviving retail businesses in New Zealand, it was established in 1880 by Ulster-born Mari ...
directly across the road. This was dismissed as 'wild speculation'. In August 2012 it was announced the Queen Street store would be receiving a more than $3 million revamp. Whitcoulls managing director Ian Draper said "Our ultimate goal is for this store to be the best book and stationery store in the southern hemisphere" Speculation ended up being true, however, when Whitcoulls Queen St closed in mid 2015 and was reopened as Farmers later that year in December. James Pascoe Group stated the decision to rebrand the Whitcoulls store to Farmers was made in light of the improved fashion and retail offering on Queen Street. Other Whitcoulls stores have received upgrades since JPG ownership. It was also speculated Farmers would begin to integrate Whitcoulls branded Goldmark/Prouds and Stevens-style store-within-stores, similar to lower
South Island The South Island, also officially named , is the larger of the two major islands of New Zealand in surface area, the other being the smaller but more populous North Island. It is bordered to the north by Cook Strait, to the west by the Tasman ...
department store rival
H & J Smith H & J Smith Holdings Ltd, branded as H & J Smith and known colloquially as ''H&J's'' or ''Smith's'' is a company which operates in the lower South Island of New Zealand. The company primarily operates in department stores, specialty stores and ...
's integrated Paper Plus and Take Note stores within its two largest stores in
Invercargill Invercargill ( , mi, Waihōpai is the southernmost and westernmost city in New Zealand, and one of the southernmost cities in the world. It is the commercial centre of the Southland region. The city lies in the heart of the wide expanse of t ...
and
Gore Gore may refer to: Places Australia * Gore, Queensland * Gore Creek (New South Wales) * Gore Island (Queensland) Canada * Gore, Nova Scotia, a rural community * Gore, Quebec, a township municipality * Gore Bay, Ontario, a township on Manitouli ...
. As of mid-2022 nothing to this affect has materialised. Whitcoulls rivals include Whitcoulls' nearest equivalent, franchise ''Paper Plus'' (over 100 stores),and its other brand, ''Take Note'' (7 stores);as well as ''The Warehouse Group's'' discount retailers ''Warehouse Stationery'' and ''The Warehouse''.


Anne and David Norman

The owners of the James Pascoe Group have been described as '
secretive Secrecy is the practice of hiding information from certain individuals or groups who do not have the "need to know", perhaps while sharing it with other individuals. That which is kept hidden is known as the secret. Secrecy is often controvers ...
' and ' media-shy', rarely giving interviews and not appearing in tabloid
magazine A magazine is a periodical publication, generally published on a regular schedule (often weekly or monthly), containing a variety of content. They are generally financed by advertising, purchase price, prepaid subscriptions, or by a combinatio ...
s. In 2006 it was reported the couple live in the affluent
Auckland Auckland (pronounced ) ( mi, Tāmaki Makaurau) is a large metropolitan city in the North Island of New Zealand. The List of New Zealand urban areas by population, most populous urban area in the country and the List of cities in Oceania by po ...
suburb of
Remuera Remuera is an affluent inner city suburb of Auckland, New Zealand. It is located four kilometres southeast of the city centre. Remuera is characterised by many large houses, often Edwardian or mid 20th century. A prime example of a "leafy" sub ...
. Despite a reported
net worth Net worth is the value of all the non-financial and financial assets owned by an individual or institution minus the value of all its outstanding liabilities. Since financial assets minus outstanding liabilities equal net financial assets, net ...
of half a billion dollars, they claim to live a modest lifestyle, with Anne shopping at Farmers. The Normans also claim not to take profits out of their companies. "We just let them grow." says David. In 2011, Metro Commercial realty Director Nathan Male said JPG's purchase of Whitcoulls was 'great for customers'. They had managed to acquire a 'string of major brands in prominent locations' without pressures from
debt Debt is an obligation that requires one party, the debtor, to pay money or other agreed-upon value to another party, the creditor. Debt is a deferred payment, or series of payments, which differentiates it from an immediate purchase. The ...
, in contrast to many struggling private equity investors. "The Normans have a very hands-on management style and are passionate about retailing and New Zealand." Both raised in Auckland, Anne Pascoe met David Norman in the 1970s while he was working for
Xerox Xerox Holdings Corporation (; also known simply as Xerox) is an American corporation that sells print and electronic document, digital document products and services in more than 160 countries. Xerox is headquartered in Norwalk, Connecticut (ha ...
in marketing and sales positions. In addition to undergoing military training, David Norman worked under the founders of the New Zealand
Foodtown Foodtown was a New Zealand supermarket chain owned by Progressive Enterprises. As with Woolworths, the Foodtown brand was phased out in the late 2000s, with all stores rebranded as Countdown by the end of 2011. Foodtown supermarkets were t ...
supermarket chain at Foodtown
Kelston Kelston is a small village and civil parish in Somerset, north west of Bath, and east of Bristol, on the A431 road. It is situated just north of the River Avon, close to the Kelston and Saltford locks. The parish has a population of 248. ...
in Auckland. Together Anne and David formed a small construction business called Andav Holdings. Anne was the business's office manager, while David acted as foreman. David became managing director of James Pascoe Ltd in 1978. After the purchase of Farmers Trading Company Ltd in 2003, he appeared on local consumer television show Fair Go to respond to customers complaints of unreasonably long waits for delivery of large items. He then worked in the company's chaotic distribution centre, helping to reorganise it. In 2004 he temporarily became Farmers' CEO. In 2006 he resigned as CEO to focus on newly purchased Australian Angus & Coote and Goldmark businesses. Anne worked in buying at Pascoes for years, and is involved with the buying teams at Farmers. The couple remain JPG Directors, with David as managing director. A family business, as of 2009, the Normans' children Myles James Norman (leading Prouds the Jewellers in Australia), Victoria Ella Nicholls (née Norman), and Gregory 'Greg' John Norman (diamond buyer for Pascoes, Stewart Dawsons and Goldmark) are also involved in the operation of JPG. The Normans' son-in-law Brett Nicholls heads Stevens. The Normans founded the annual Anne and David Norman Fellowship in Leukaemia and Lymphoma Research at the
University of Auckland , mottoeng = By natural ability and hard work , established = 1883; years ago , endowment = NZD $293 million (31 December 2021) , budget = NZD $1.281 billion (31 December 2021) , chancellor = Cecilia Tarrant , vice_chancellor = Dawn F ...
's medical school. The couple were both made Companions of the Order of New Zealand in the 2012 Queen's Birthday Honours List.


References


External links


Pascoes the Jewellers Official Website

Stewart Dawsons Official Website

Prouds the Jewellers Official Website

Farmers Official Website

Angus and Coote Official Website

Goldmark Official Website

Stevens Official Website

Whitcoulls Official Website
{{Retailers in New Zealand Jewellery retailers of New Zealand Retail companies established in 1906 Companies based in Auckland 1906 establishments in New Zealand