Indie store update
Kemp & Denning exits Mitre 10
Kemp & Denning is exiting Mitre 10
Kemp & Denning is exiting Mitre 10
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Mitre 10 New Zealand inducts hall-of-famers and its co-operative model is acknowledged
HNN Sources
Tasmania's Kemp & Denning has advised Mitre 10 that it will be exiting the group; Mitre 10 New Zealand inducts inaugural members into its Hall of Fame; and Cooperative Business New Zealand has singled out Mitre 10 NZ for its long-standing success as a co-op.
K&D ends Mitre 10 relationship

Kemp & Denning Limited informed its shareholders recently that it will "cease to operate under the Mitre 10 banner". In a letter to its shareholders that is posted on its website, the company says the decision was made following "a meticulous tactical and strategic review" of the business.

This included "external research which clearly indicated that the K&D brand on its own resonates strongly" in the market to its customers. This decision will enable the business to continue to develop as a truly local independent brand within Tasmania. As a result it will trade on as K&D Warehouse in the Tasmanian market.

K&D says the 25 year relationship with Mitre 10 has generally provided mutual benefits for both companies. The trade component of the business which operates under the banner of K&D Trade is unaffected by this decision.

To read the full letter, please go to the following link:
Kemp & Denning letter to shareholders

HNN would like to thank an eagle-eyed reader who bought this story to our attention.
Mitre 10 NZ Hall of Fame

One past CEO and two veteran Mitre 10 owners have been inducted into a newly established Mitre 10 New Zealand Hall of Fame at the retailer's annual awards dinner, held recently at the Langham Hotel in Auckland.

They include Mitre 10's first CEO Jim Mason, who established Mitre 10 in New Zealand, Reg and Helen Smith, who entered the Christchurch home improvement business in 1964, and Derek and Audrey Ricketts, who joined Mitre 10 NZ in 1975 and today own four stores along with their sons.

The inductees were presented by CEO Neil Cowie to the 700 store owners, staff and suppliers in attendance. Cowie said establishing the Mitre 10 Hall of Fame was an important milestone for the co-operative. He said: "We believe it is timely as we head into our forty-first year of business to reflect and recognise the contributions these inspirational New Zealanders have made to create the Mitre 10 story.

"We see induction into the Hall of Fame as recognition of continuous commitment to outstanding home improvement retailing in New Zealand, and for that we consider it the pinnacle of our Mitre 10 Awards."
Co-operative award for Mitre 10 NZ

Cooperative Business New Zealand has celebrated the success of some of the country's oldest co-operatives including Mitre 10. It has been acknowledged for its success and longevity.

As chain of home improvement stores established in 1974, Mitre 10 has become New Zealand's largest home improvement and garden retailer. It employs 3,000 worker owners.

Last year the United Nations named New Zealand as the world's most co-operative economy in a survey covering 145 countries. Chief executive, Ian Macintosh said: "Cooperative Business speaks for the many co-ops, large and small, which contribute so much to this nation's economy and attract international respect. Co-ops continue to prove they are modern businesses, efficient and competitive in a fast-paced market across many sectors.

"Just as Mitre 10 is a symbol of our DIY culture, co-operatives are at the heart of our nation's DNA. We are better together, active in our local communities and driving our national economy."
HNN Sources

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