Australia’s largest online retailer, Juul, has acquired every retail shop in Australia, as it seeks to take on the world’s largest retailers.
In the process, Juuls flagship store will be moved to Melbourne.
Juul has been investing in Australia’s retail industry since 2008, acquiring online and brick and mortar stores as part of its $200m Australian online strategy.
It currently operates stores in Sydney, Melbourne, Canberra, Adelaide, Perth, Brisbane and Perth, as well as a number of regional centres.
Its Australian sales are expected to reach $1.5bn by 2019, according to the company’s Australian online business forecast.
“This acquisition will bring Juuls global retail operations and support to Australia,” the company said in a statement.
Juuls CEO, Jason Cook, said the acquisition would “support our ability to deliver our vision of delivering an authentic, dynamic and connected experience through retail”.
“With Juuls’ expertise in online retail, we will provide access to all of our stores across Australia, with an immediate impact to our customers,” he said.
The move will also create an opportunity for Juuls to improve its ability to sell to Australia’s burgeoning tech and media markets.
Australia’s online retail sector has experienced an influx of retail companies, with more than $100bn in online sales last year.
It is expected to grow to $2.8bn by 2020.
More to come.