"For the coming year, Mighty Ape was forecast to generate revenue of NZ$144 million and gross profit of NZ$47 million."
Be interesting to see what happens next. Kogan First, a stronger foothold in the mobile market, easier access to Kogan products etc etc…
The Mighty Kogan Ape
Most sites say undisclosed sum, but $2.6 million (AUD) seems to be the figure. Deal included the acquirement DSE brands, online website and customer database.
well thats mighty ape down the toilet then. Pity, as I liked them.
Amazon will further increase their presence in Australasia, so ya gotta do something, otherwise..
Kogan is okay - issue will be if they get rid of the NZ customer support.
Which they probably will.
only warehouse left in NZ. all other functions will be outsourced.
lol… I see they're still using that 100% Kiwi owned tag. Better change that soon.
Didn't realise mighty ape was so big
I used to use Mighty Ape a bit, but they became less competitive, and their service seemed to go downhill.
I realised I stopped buying from them since they moved to Silverdale as I prefer pickups. I also used to spend a lot on their clearance items at their old warehouse showroom.
I moved to PB Tech for most tech. Back in the day, used to buy all my games from MA.
Nowadays, only gimmick/food from MA. A good fit for Kogan I think.
Kogan is okay anyway. Just slow shipping and slow customer service.
But cheap prices.
Doesn't that seem undervalued for only $127 mill if they generate net profit $47mill for one year, paid for itself in less than 3 years on that forecast.
its gross profit not net.
Ah I see, thanks
How much did Kogan pay for DSE?