EXCLUSIVE: Harvey Norman Tipped To Be Going After After Dick Smith Move Stores
A three-way fight is believed to have broken out between major consumer electronics stores for the Dick Smith Move stores, which are seen as one of the few assets in the failed retailer’s portfolio that was actually making money.
The favourite to snare the stores is believed to be Harvey Norman, who is keen to expand the stores that are generating excellent revenue at Australian airports into overseas locations.
The man who started the Move Stores is Michael Dykes.
Convinced that there was a market for premium consumer electronics products Dykes rolled out the new store concept at Westfield Bondi.
He then migrated the Move the stores into airport where they started to flourish.
According to sources Apple was at one stage delivering hundreds of products to Move stores prior to the Dick Smith stores collapsing.
Speculation is mounting that Harvey Norman is in the process of taking over the Monster power brand products via a Company that Gerry Harvey owns 60% of the shares.
The Company has not commented on the Move Stores or Monster.
Currently Monster products are distributed by Sydney based Convoy.