Gerry Harvey Says Finding New Flagship Locations “Impossible”
Reportedly, Harvey Norman is finding difficulty in locating suitable land to build the next Harvey Norman flagship stores in Australia. Deciding to redevelop a Melbourne location instead.
According to a report in The Australian, Gerry Harvey stated that it is “impossible” to find sites suitable for another flagship store after successful flagship openings in Singapore, Malaysia, and Ireland.
Harvey Norman‘s Auburn NSW location at 16,000sq m is its largest worldwide, but according to Katie Page, wife of Gerry Harvey and CEO of Harvey Norman “But we will never get a site in Australia as big as Auburn.”
“We want to roll out a flagship store in every state,” said Page. “‘The problem is finding sites.”
They have one site secured in Brisbane’s southeastern suburbs but nothing suitable in Melbourne or Sydney.
“We have a lot of real estate in Melbourne. It’s just a question of which store becomes the flagship,” Page said.
Page also confirmed to The Australian that their endeavours overseas have paid off as profits continue to rise in Southeast Asia, Ireland, and eastern Europe.
“Five years ago 6 per cent of our profit was from offshore; last financial year it was 22 per cent,” she said.
A new flagship store Down Under could help boost local earnings.