Sunday, November 16, 2008

Coles Group

Coles Group Limited (formerly Coles Myer Limited) was an Australian public company that operated numerous retail chains. It was Australia's second-largest retailer, behind Woolworths Limited. It was acquired by Western Australian public company Wesfarmers, with transfer of ownership on 23 November 2007.
Coles
Separately, in 1914, the first Coles "variety store" was opened in Melbourne. Coles was founded in 1914 by
George Coles when he opened what was called the "Coles Variety Store" in Smith Street in the Melbourne suburb of Collingwood. More stores opened and the chain was regarded as the leaders in providing value to Australian shoppers.
Coles was run in succession by members of the Coles family from 1914 until the mid-1970s by the "famous five knights", brothers Sir George,
Sir Arthur, Sir Edgar, Sir Kenneth and Sir Norman — known by their first initials — GJ, AW, EB, KF, NCIn 1960, the first supermarket was opened in Melbourne suburb, North Balwyn and in 1973, a Coles store had been established in all capital cities of the country.
Kmart Australia Limited was born out of a joint venture between G.J Coles & Coy (Coles) and
Kmart Corporation in the US. The first store opened in the Melbourne suburb of Burwood in 1969
In 1978 Coles acquired full ownership of the Australian K-Mart operation and in 1994 bought back all shares Kmart Corporation held in Coles Myer.
A long-term licensing agreement allows Coles Group to use the Kmart name. Kmart New Zealand shares merchandise and branding with Kmart Australia, and is owned by Coles Group Holdings New Zealand.
In
Australia, BI-LO was established by John Weekes in Adelaide during the late 1970s. It is a major supermarket chain owned and operated by retail giant Coles Group in parallel to Coles Supermarkets. It has more than 200 stores in Australia.
In 1996, BI-LO acquired the six-store
Newmart discount supermarket chain in Western Australia which then became the equivalent to BI-LO in Western Australia. By August 2002, it grew to 16 stores before being transferred to the management and being re branded as Coles, though some stores were sold off to FAL and became Action Supermarkets.

No comments: