A report in the Fairfax online papers that Kaufland is exiting Australia:
https://www.theage.com.au/business/companies/german-retail-g…
No specific reasons given as quotes in the article, although there is a comment that Europe looks to have more growth potential.
It would be unsettling, but they would have been paid to date, and the article states they will be paid "…"generous packages" including all entitlements…".
That's bad news for the Aussie consumer. I for one was eager to see them set up shop.
Think they realised that Australia can't support that many retailers.
In addition the cost of sales is so out of wack. Just think about how someone from China can drop ship a $1 product from Ebay when you might have to buy it for $10 retail.
When looking at the Australian market without any other factors, it is a very appealing market. Competition is scarce and the consumer base is generally inexperience/naive.
Social and work culture, government and taxes more than shadows any former appeal.
You talking about 1980s and 1990s Australia? Don't be foolish with the idea just because people pay for the nose for European cars it is because they are inexperienced/naive.
I have no idea where you're going with the European cars and higher price thing.
Disappointing, they're great in Germany. Would have been convenient to snap up all the BigW sites that are closing.
I see nothing.
Maybe if Kaufland are Abbeförderung in the Fatherland as well , Colesworth can open in Germany and sell the lamingtons and vegemite to the Volksdeutsche.
"…giving no reason other than to say it would focus on its European operations."
Interpretation - the reason would offend you.
I have a feeling that the recent closures of other retail concerns has given them the willies, and so they’ve been spooked. Every time I go to Costco is busy as, lots of people in line, lots of people at the cafe, lots of people in there meandering around. Bunnings is opening stores in SA left, right, and centre. I think Kaufland may have made a mistake, but who knows? I wish I was a fly on the wall to know why they’re pulling out.
They knocked down Le Cornus and now aren’t building there
Maybe got Austria and Australia mixed up.
I wonder who will buy their assets - possibly Costco if the sites are big enough?
Cannot imagine those employees that jumped ship from Woolies/Coles/Aldi etc that were promised big things but never eventuated.