Kmart’s Anko brand set to make Target debut
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It’s been a month since we reported on the merger between Target’s and Kmart’s operations to create a $10 billion discount giant.
Kmart Group Managing Director Ian Bailey said last month that the merger would purely be a change to operations behind the scenes and would have 'no impacts' on stores.
But now, Wesfarmers, Target and Kmart's parent company, has revealed some big changes in their newly released annual results statement.
It says the company plans to ‘selectively expand the distribution of Kmart’s Anko products globally’, making select Anko products across home and general merchandise ranges available at Target stores starting in early 2024.
The results of the merger seem to be paying off–in the last financial year, the Kmart Group, which includes Target, achieved a sales growth of 22 per cent.
Kmart alone–with an annual sales growth also of 22 per cent–accounted for 79 per cent of the group’s total sales growth. Target’s total sales increased just 1.1 per cent during the same period.
In the same year, four Target stores closed, while Kmart closed three stores and opened up another four.
Now, after merging two of the biggest discount retail giants to create a powerhouse, it’s worth looking at Wesfarmers–the driving force behind it all. This corporation, ranked in the top few listed conglomerates in Australia by revenue, has an impressive portfolio and a long history.
Since its origins as a farmer's cooperative in 1914, Wesfarmers has been steadily expanding its footprint in the Australian retail sector. Currently, the conglomerate boasts a wide range of successful businesses, including Bunnings Warehouse, Catch, Officeworks, and more.
Wesfarmers-owned Bunnings Warehouse, a household name across the country, has dynamically kept its customers engaged with their selection of hardwares and tools—and of course, their signature sausage sizzles. They also recently released a new range of stylish home storage solutions called Lugna!
On the other hand, Officeworks, another of Wesfarmers' successful ventures, remains a leading player in the office supplies sector due to its competitive prices and innovative approach.
Interestingly, the corporation's retail dominance isn't constrained to brick-and-mortar stores. Among Wesfarmers' vast portfolio is Catch, one of Australia's largest online retailers, bridging the gap between the physical and digital retail sectors.
This retail giant also doesn't solely revolve around profit-oriented businesses. Keeping with its roots as a cooperative, Wesfarmers has also undertaken socially responsible efforts, actively participating in community initiatives and focusing on creating employment opportunities.
What do you think about this, members? Are you a fan of Anko products? Which ones do you look forward to seeing at Target? Let us know in the comments below!
Kmart Group Managing Director Ian Bailey said last month that the merger would purely be a change to operations behind the scenes and would have 'no impacts' on stores.
But now, Wesfarmers, Target and Kmart's parent company, has revealed some big changes in their newly released annual results statement.
It says the company plans to ‘selectively expand the distribution of Kmart’s Anko products globally’, making select Anko products across home and general merchandise ranges available at Target stores starting in early 2024.
Kmart’s Anko products will be available in Target stores starting early 2024. Image source: Inside Retail (left), Kmart Australia (top right), Anko (bottom right).
Kmart alone–with an annual sales growth also of 22 per cent–accounted for 79 per cent of the group’s total sales growth. Target’s total sales increased just 1.1 per cent during the same period.
In the same year, four Target stores closed, while Kmart closed three stores and opened up another four.
Now, after merging two of the biggest discount retail giants to create a powerhouse, it’s worth looking at Wesfarmers–the driving force behind it all. This corporation, ranked in the top few listed conglomerates in Australia by revenue, has an impressive portfolio and a long history.
Since its origins as a farmer's cooperative in 1914, Wesfarmers has been steadily expanding its footprint in the Australian retail sector. Currently, the conglomerate boasts a wide range of successful businesses, including Bunnings Warehouse, Catch, Officeworks, and more.
Wesfarmers-owned Bunnings Warehouse, a household name across the country, has dynamically kept its customers engaged with their selection of hardwares and tools—and of course, their signature sausage sizzles. They also recently released a new range of stylish home storage solutions called Lugna!
On the other hand, Officeworks, another of Wesfarmers' successful ventures, remains a leading player in the office supplies sector due to its competitive prices and innovative approach.
Interestingly, the corporation's retail dominance isn't constrained to brick-and-mortar stores. Among Wesfarmers' vast portfolio is Catch, one of Australia's largest online retailers, bridging the gap between the physical and digital retail sectors.
This retail giant also doesn't solely revolve around profit-oriented businesses. Keeping with its roots as a cooperative, Wesfarmers has also undertaken socially responsible efforts, actively participating in community initiatives and focusing on creating employment opportunities.
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