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HOME REGIONS Asia-Pacific › Dick Smith to unleash ‘fashtronics’ concept

Dick Smith to unleash ‘fashtronics’ concept

by Stuart Wilson, Wednesday 2 October 2013

Australia-based ICT and consumer electronics (CE) retailer Dick Smith hopes to combine fashion and technology at new concept stores opening in Sydney and Victoria. The new stores – branded Move – will combine technology with style, according to the retailer. Welcome to the retail mashup where fashion meets electronics: ’fashtronics’.

In its invitation to the store opening, Move stated: Move is a brand new concept store which is a fusion of fashion and consumer electronics that we like to call, ‘fashtronics’,” the invitation read. “Move is for the brand conscious, for those who want their technology with a twist of individuality and style.”

The Move retail brand is owned and operated by Dick Smith, which is part of Anchorage Capital private equity group. The first Move store opens in Sydney in early October with another outlet set to follow in Melbourne. Dick Smith CEO Nick Abboud was set to attend the Move store opening in Sydney.

The launch invite explained: “It’s technology with style. And it’s style that moves with the moment. It’s Sydney to Paris via London, connected. It’s where you’re styled-in to trends and dialed-in to technology. It’s here. It’s now. And it’s on the go. It’s time to Move.”

Dick Smith IPO

Press reports in Australia suggest that Dick Smith could soon perform an IPO that values the company in excess of AUD$500m (US$468.3m). This would represent an incredible turnaround for owner Anchorage Capital, which purchased the company from Woolworths for just AUD$94m (US$88m) last year. Anchorage Capital has appointed Macquarie Bank and Goldman Sachs to look at options for disposing of the Dick Smith business.

DISTREE Asia Pacific 2013

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DISTREE APAC 2013 will take place from November 12-14th at Shangri-La Rasa Sentosa Resort, Singapore. For more information and to secure your place at the region’s number one ICT and CE channel event, contact fhemraj@distreevents.com quoting code DAPAC13.


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