EXCLUSIVE: Retailers Move To Dump Kaiser Baas Stock
Serious questions are being raised about the quality of several Kaiser Baas products sold to Australian retailers by the Melbourne based retailer prior to the Company being placed into liquidation.
Retailers such as Big W have been getting high returns of Kaiser Baas drones with several retailers now concerned as to who will take responsibility for the warranty on Kaiser Baas branded products that are still sitting on retailer shelves.
Harvey Norman franchisees have told ChannelNews that the banning of Kaiser Baas hoverboards early in 2016, had left a “bad taste” in dealing with Kaiser Baas then and in the future with the stock still ranged at their stores described as “old stock”.
Earlier this week we revealed that the Kaiser Baas business was placed into liquidation on May the 17th with several retailers revealing that the first they knew of the demise of the Melbourne based distributor who has left behind debts of more than $3.8M was when ChannelNews broke the story.
Shortly after the hoverboard disaster that saw hundreds of units returned by retailers. Then CEO and sole shareholder in the business, Evan Kourambas was bragging about how well his Kaiser Baas business was doing. He told ChannelNews at the time that he had the only “approved” hoverboard in Australia.
This proved not to be true.
Currently several retailers are turning to Sydney based distributor Laser Corporation to supply replacement goods for Kaiser Baas stock which some retailers are now looking to take a loss on rather than have problems with warranty claims later.
Laser Corporation currently sells drones, in car cameras and power supply products like what Kaiser Bass were supplying.
Several questions have also been raised by creditors as to whether New Zealand based Exceed got a “preferential advantage” when they were able to buy Kaiser Baas stock from Export Finance and Insurance Corporation (EFI) who were holding the stock as security.
As a result of the sale Kaiser Baas is believed to have benefited from the sale of stock prior to the peak 2017 Christmas New Year buying period.
Back in early 2017, Kourambas claimed that an expansion into the UK, Europe and the Middle East was going “so well” for his distribution business that he no longer saw the Australian market as his prime source of revenue.
In January 2017 he even gave an interview with the Irish Times on “How to grow and scale a tech company”.