Chairman Gerry Harvey of Harvey Norman has confirmed that the company will launch an online store in the next 12 months.

In reports by News Limited papers, Harvey said it’s the right time despite believing that going online will take away sales from his bricks and mortar stores.

"By this time next year you'll see Harvey Norman with a pretty sizeable internet presence. My heart's beating very strongly on whether we make any money out of it," he said. "I haven't got any choice. I've got to cannibalise our stores."

This comes after the retailer of 173 stores caused great debate about the GST threshold alongside retail heaveyweight Solomon Lew and Bernie Brookes.

"Harvey Norman has been the pace-setter for an awful long time," Harvey said. "They're kicking us on the internet at the moment but there's no history of anyone making money on it.

"I'm not against it. I'm trying to get on at the right time."