Shriro To Lose 10% Of Revenue As Blanco Goes Direct
In a blow to distributor Shriro, Blanco Australia is taking over direct distribution of its sinks, taps, and appliances from next year.
Shriro, the Sydney-based distributor of kitchen appliances and consumer products, will hand over the Blanco brand – which it says represents around 10 per cent of group revenue – to Blanco Australia from May 1, 2022, saying both parties are working towards a smooth and seamless transition.
Tim Hargreaves, Shriro CEO, wished Blanco continued success and thanked the brand for its cooperation building the business.
“Our attention remains firmly on future growth opportunities as we continue to reshape our portfolio of brands to maximise return on capital employed,” he said.
According to Hans Nasemann, MD of Blanco APAC, the partnership with Shriro has seen Blanco’s business grow across both Australia and New Zealand.
“We have been encouraged by the commitment they have shown throughout and especially in reaching this agreement to ensure business continuity for our retail partners,” he said.
The move comes not long after Shriro moved into its new Chatswood offices in Sydney and enjoyed a record year in 2020, though two major shareholders – Tempo and Shriro Pacific – bailed out during the Christmas break; Shriro was also hit by a cyber-attack last month.
Shriro’s other brands include Casio, Omega, Everdure, and Pioneer.