Online retailer Kogan.com wants to turn up the heat on its bigger rivals Harvey Norman and JB Hi-Fi with plans to sell its own brand of washing machines, fridges, cooktops and other household and kitchen appliances.
Kogan founder and chief executive Ruslan Kogan says the lack of competition across the whitegoods and built-in kitchen appliance market has resulted in high prices for consumers.
Having another, cheaper, range of appliances in the market would benefit consumers, he said.
"It will be a great win for Australian consumers who don't want to pay too much for essential household appliances.
"We are excited to be applying our business model to this industry and making the most in-demand products more affordable for all Australians," Mr Kogan said in a statement on Monday.
Mr Kogan said one major reason for a lack of competition was the logistics of distributing bulky products.
But, after 12 years, Kogan.com's logistics and distribution footprint enabled it to enter the market and offer "unprecendented value" on a range of products, he said.
Kogan's own-branded products will be available before the end of 2018.
News of the expansion move helped push Kogan shares up 24 cents, or 2.6 per cent, to $9.36 by 1032 AEST.
Rivals Harvey Norman and JB Hi-Fi shares had fallen, 1.5 per cent to $3.555 and 0.95 per to $23.95, respectively.
Australia's benchmark S&P/ASX 200 was up 0.64 per cent at 6,028.9 points after the first 30 minutes of trade.
Share
