Dick Smith brand to be resurrected
LIKE a cat with nine lives, the Dick Smith brand is set to live again - this time as an online-only consumer electronics retailer owned by e-commerce pioneer Ruslan Kogan.
Mr Kogan has acquired Dick Smith's intellectual property for an undisclosed price after a two-month auction by Dick Smith's receivers and managers at Ferrier Hodgson.
The acquisition includes the Dick Smith brand and trademarks, the online business in Australia and New Zealand, customer and loyalty databases, websites and domain names.
While Dick Smith's online business accounted for only 8% of total sales, the website, customer database and intellectual property were keenly sought, leading to "aggressive" bidding, according to one source.
Mr Kogan, a BRW Rich Lister who started selling televisions online from the garage of his parents' house in 2006, will take control of the online store from Ferrier Hodgson in June and plans to operate the site as a separate online channel to Kogan.com.