14 Apr 2014

Rebrand planned for Noel Leeming

8:48 am on 14 April 2014

The Warehouse Group is undertaking a $100 million plus rebranding and refurbishment exercise in a bid to give its stores a fresh look and drive sales.

Group chief executive Mark Powell says Noel Leeming will undergo a $5.5 million rebranding in August.

The electronics and appliance store will keep its name, but its logo and stores will be given a new look.

Mark Powell says R&R Sports and the online sports adventure store Torpedo 7 will be wrapped together and given a completely new name.

The retailer is also spending about $100 million refreshing its Warehouse Stationery and Warehouse stores by the end of next year.

It's all part of its plan to attract new customers and increase sales by offering a better customer experience, higher quality branded goods and cheaper own label products.

New chief executive named

Simon Turner has been appointed the new chief executive of The Warehouse business and says his main focus will be on improving the stores' margins and profitability.

The group wants to build up its non-warehouse part of the business to be as big as the red sheds.

That will involve doubling the turnover of its remaining businesses to match the $1.6 billion in sales the red sheds currently generate.

Part of that growth will come from online space where more specialist stores are being added in the next few months, including baby.co.nz and a jewellery-focussed site.

Mr Powell says a foray into financial services will also generate about $40 million in earnings in the next few years and the recent acquisition of the Diners card also opens up options.