Kogan Buys Mighty Ape for $127M NZD

jimbobaus on 09/12/2020 - 10:08

Kogan has continued its growth through acquisition by purchasing Mighty Ape for $122M AUD / 127M NZD

https://www.stuff.co.nz/business/industries/123588164/austra…

Mighty Ape has always been decent to deal with with customer service and support that one would expect from a decent retailer.
Kogan on the other hand are good at buying up brands, slashing costs by reducing front line or customer service staff (or sending it offshore)
Just like they have done with Matt Black (they also own the online brand of Dick Smith but it was dead in the water when they bought it)

Electrical & Electronics

Related Stores

MightyApe.co.nz
MightyApe.co.nz
Kogan
Kogan
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Comments

  • chrisie on 09/12/2020 - 10:27
    +8

    Kogan and customer service are not a good fit.

  • whooah1979 on 09/12/2020 - 10:34
    +3

    Kogan has come a long way since he started to sell tv on eBay.

    His story is a true Australian rags to 🤑. Well done.

    • GG57 on 09/12/2020 - 11:40
      +2

      Didn't he start washing cars when he was at school?
      And then expanded to 'employ' other kids to wash the cars for him?

      He certainly is a success story, whatever people think about his business / products.

      • chrisie on 09/12/2020 - 13:36
        +1

        / Practices.

    • [Deactivated] on 09/12/2020 - 13:30
      +5

      His story is he has ripped of Australians.

      Kogan had misled consumers by advertising over a period of four days that they could use the code ‘TAXTIME’ to reduce prices by 10 per cent at checkout, when Kogan had increased the prices of 621 products immediately before the promotion.

      https://www.accc.gov.au/media-release/kogan-tax-time-promoti…

      • GG57 on 09/12/2020 - 13:39

        We know.
        It has been posted here multiple times.
        But he is a success, built up from nothing.

        • [Deactivated] on 09/12/2020 - 13:44

          Nope. He isn't Gerry Harvey level scum but he's not a good guy.

          • GG57 on 09/12/2020 - 13:47
            +2

            @[Deactivated]: If success is defined by wealth (and that appears to be the usually accepted measure), his net worth was estimated by the Financial Review 2020 Rich LIst as $575m.

            Not bad for someone still in his 30s, who started with nothing.

            We have previously acknowledged his business practices.

            • [Deactivated] on 09/12/2020 - 14:09
              +1

              @GG57: I'm just bitter and twisted because my Kogan water cooler doesn't actually hold water.

      • whooah1979 on 09/12/2020 - 14:19

        They did something wrong, got caught and is now paying a fine. That is how the world works.

        People have to be prepared to crack a few eggs to make an omelette. Those that can't stomach that eats plain loaf.

  • CalmLemons on 09/12/2020 - 10:34
    +3

    fk. there goes mightyape. well at $127 million, hopefully kogan will take care of it better than matt blatt which was only $4m i believe? lol

  • orangetrain on 09/12/2020 - 10:37
    +19

    I hope Mighty Ape raised their prices then offered to sell at a discount.

    • jimbobaus on 09/12/2020 - 11:09
      +2

      Best comment today :)

  • chcse on 09/12/2020 - 11:21
    +1

    Guess I'll stop those purchases I do once a year or so from Mighty Ape now.

  • tallkid123 on 09/12/2020 - 11:24
    +1

    This isn't good news. Looks like my Mighty Ape (and Gorilla Gaming) account will go dormant once the takeover is complete.

  • jv on 09/12/2020 - 11:43
    +7

    Kogan Buys Mighty Ape

    will be rebranded as KING KOGAN…

  • Aussar on 09/12/2020 - 11:55
    +3

    Ah well, one more store down the drain. RIP

  • payton on 09/12/2020 - 14:14
    +5

    Seeing some people fawning over the CEO of a company with utterly crap customer service and hailing it as a 'success story', yet at the same time they're hating on Amazon (which is the gold standard in customer service) - too funny.

    • chrisie on 09/12/2020 - 14:15

      Well put !!!

    • GG57 on 09/12/2020 - 14:22
      +1

      Yeah, you are obviously correct.

      Same as Steve Jobs was a failure (the way that Apple rips everyone off with their overpriced stuff).
      And Twiggy Forest is such a loser, with all of his dealings with China and his dodgy charitable foundation.

      Or, maybe some people can just analyse and separate their business practices from how successful the people have been.

      I don't like his business, and can't remember when I would have bought anything from it.

      • payton on 09/12/2020 - 14:31

        well I hope the people that love Ruslan Kogan have warm thoughts of him (as a solace) when their Kogan product broke and their warranty and customer rights are denied, when they're being sent on a wild goose chase lasting months with no successful resolution.

    • whooah1979 on 09/12/2020 - 16:17
      +1

      Amazon isn't an Australian success story.

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