DStore
Encyclopedia
dstore is an Australian
-based online retailer
. It offers a range of goods across a number of sectors. The company has established sales both to Australian and select overseas countries through its international website.
to establish a brand presence .
In its early days, dstore raised around AU$36 million and was backed by some of the biggest names in Australian business including the founder of LookSmart, Evan Thornley, and Kerry Packer's ninemsn. Businessman and former NSW Premier, Nick Greiner, gave up a board seat at Coles Myer to become chairman of dstore but resigned shortly before it was sold for an undisclosed sum to the Harris Scarfe group in November 2000 for AU$3 million .
dstore is reported to have burnt through $23 million in its first year of operating due to difficulty in luring online customers, and a failed bid to raise a further $10 million among investors in January 2000 .
In April 2001, Harris Scarfe
was placed in receivership and dstore was offered for sale by receivers and managers, Ferrier Hodgson
. HotShed Retail acquired dstore on the 10th of September, 2001. HotShed Retail paid a reported $615,000 for dstore and immediately re-launched it using HotShed’s technology platform. A break-even result was reported in the 2001 Christmas quarter. HotShed and dstore's major shareholders are now Brisbane based brothers Andrew & Tim Cooper.
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
-based online retailer
Electronic commerce
Electronic commerce, commonly known as e-commerce, eCommerce or e-comm, refers to the buying and selling of products or services over electronic systems such as the Internet and other computer networks. However, the term may refer to more than just buying and selling products online...
. It offers a range of goods across a number of sectors. The company has established sales both to Australian and select overseas countries through its international website.
History
dstore was established in January 1999 by Andrew Cooper. Cooper recognised the need for dstore to win the trust of consumers and build a relationship with them in order to win their business, using channels such as televisionTelevision
Television is a telecommunication medium for transmitting and receiving moving images that can be monochrome or colored, with accompanying sound...
to establish a brand presence .
In its early days, dstore raised around AU$36 million and was backed by some of the biggest names in Australian business including the founder of LookSmart, Evan Thornley, and Kerry Packer's ninemsn. Businessman and former NSW Premier, Nick Greiner, gave up a board seat at Coles Myer to become chairman of dstore but resigned shortly before it was sold for an undisclosed sum to the Harris Scarfe group in November 2000 for AU$3 million .
dstore is reported to have burnt through $23 million in its first year of operating due to difficulty in luring online customers, and a failed bid to raise a further $10 million among investors in January 2000 .
In April 2001, Harris Scarfe
Harris Scarfe
Harris Scarfe Department Stores was founded in Adelaide, South Australia in 1849. At its peak, Adelaide was home to several major South Australian department stores , of which Harris Scarfe is the sole...
was placed in receivership and dstore was offered for sale by receivers and managers, Ferrier Hodgson
Ferrier Hodgson
Ferrier Hodgson is a group of Accounting firms specialising in Insolvency in the Australian and Asia Pacific region, with offices in all major capital cities in Australia, Singapore, Malaysia, Indonesia, and Japan...
. HotShed Retail acquired dstore on the 10th of September, 2001. HotShed Retail paid a reported $615,000 for dstore and immediately re-launched it using HotShed’s technology platform. A break-even result was reported in the 2001 Christmas quarter. HotShed and dstore's major shareholders are now Brisbane based brothers Andrew & Tim Cooper.