Several Australians came to Hoffman yesterday. Rumor mill is buzzing that Kmart Australia is considering purchasing the remaining Kmart stores and assets here for North American expansion, or merely the rights to the Kmart name in Asia for expansion in Oceania.
Currently they hold the rights for Australia and New Zealand only. They paid Sears holding $100Million in 2017 to own the name down there instead of paying royalties.
Developing situation, I’ll see if I can find out more today.
How dumb ya got to be to think this bogus go forward plan has any chance at success, the only time people shop at Sears is when they liquidate the store
Franchise Value? the names are dirt. Kmart should have changed theirs after the last bankruptcy. If there was any long term value, the vendors would be supporting with merchandise. They're not.
On a good note though, when you get regional visits now, the can all show up in one little clown car...
The franchise value of the K-Mart brand is very high. This is an iconic retail brand with a lot of value, and ESL is no slouch at making strong business decisions. If a transaction takes place, it could provide capital to make the Go Forward Plan even more successful.
Any news, OP?
Eddies' scouting locations to abdicate once the Feds close in....
The Australian and New Zealand Kmarts are very successful. My family members have shopped in them. The Australians know how to run a business. I wouldn't be surprised if they were looking at expansion. The Guam store is absolutely huge and amazing.
Atleast they weren't British
Buying the Guam store makes sense. It's quite successful, not only because there's no real competition for it, but because Guam sees a lot of Japanese tourists.
It would also help the residents of Guam, who would be in trouble when Eddie finally pulls the plug on the remaining K-Marts.
Maybe interested in the guam stote.
So if they deiced to just buy the name does that mean that Kmart isn't going to be part of Sears anymore here in the US?
Thank you