Kogan.com has again expanded its portfolio offering, this time to the kitchen.
The pure-play online retailer has signed supply and logistics agreements which allow it to enter the Australian Whitegoods and Built-In Kitchen Appliance Market with its own range of exclusive brand price-competitive products.
“The Australian Whitegoods and Built-In Kitchen Appliance market lacks competitive tension which has resulted in a limited number of players enjoying inflated margins,” says Ruslan Kogan, Founder and CEO of Kogan.com.
“One major factor contributing to this lack of competition is the additional complexity and logistical requirements arising from distributing bulky products.
“Due to the rapid growth of the Kogan.com business over the last 12 years, we are now in a position where our logistics and distribution footprint enables us to enter
this market and provide Australians with unprecedented value on a range of the most popular Whitegoods and Built-In Kitchen Appliances like Fridges, Washing Machines, Dryers, Dishwashers, Ovens, Cooktops and Rangehoods.”
Shares Kogan.com were up 3.6% to $9.45 in early trade. The company listed on the ASX in 2016 at $1.80.
The company has an expanding portfolio including Kogan Retail, Kogan Marketplace, Kogan Mobile, Kogan Internet, Kogan Insurance, Kogan Health and Kogan Travel.
Kogan.com Kogan.com in April added pet and life insurance to this range.
That announcement today follows the launches of Kogan Insurance late last year and Kogan Health in February this year.
In February Kogan.com posted a 45.7% jump in revenue to $209.62 million for the six months to December. Profit was $8.33 million, up 470%.