Woolworth’s announcement yesterday that it is entering the hardware market after acquiring Danks Holdings came as no surprise to some.
“[Yesterday’s] announcement of plans to bring a new player into the industry is no real surprise as these broad intentions have been known to us and many others for at least the last six months,” said Bunnings managing director John Gilliam.
He said Bunnings relishes the opportunity to compete with any new entrant in the $36 billion Australian home improvement and outdoor living market.
“That market has grown slightly faster than GDP over the past two decades and we expect this rate of growth to continue,” he said.
“We have succeeded by being customer-focused, by providing the widest product range at lowest prices and by delivering the offer with unequalled service. We constantly innovate and improve and are determined to keep delivering customers the best offer.”
Gilliam said that the whole Bunnings team is strongly committed to the ongoing success of the business, with plans for another 30 to 40 warehouse stores to be opened in Australia in the next three years.
Bunnings currently has 233 stores across metropolitan and regional Australia and New Zealand, with an annual turnover exceeding $5.8 billion.