0902 CDAO Melbourne ITwire 160x1200px

0902 CDAO Melbourne ITwire 160x1200px

0902 CDAO Melbourne ITwire 705x108 GIF

Friday, 18 January 2019 04:55

Kogan blames Apple for big drop in global brands revenue Featured

By
Kogan blames Apple for big drop in global brands revenue Pixabay

Online retailer Kogan has blamed a sharp fall in new Apple products, in particular the new iPhone, for a drop in revenue of its global brands for the first half of full-year 2019, saying that revenue fell by 46.7% during the period.

In a business update released on Wednesday, the company said total revenue for the period was up by 9.7% against the first half of the previous financial year.

Excluding Apple, the revenue from global brands like Samsung, Google, Xiaomi and Garmin grew by 8.5%.

Additionally, the sales of brands that are exclusive to the retailer grew by 23.6% after it received new ranges in the lead-up to the Christmas trading period.

The company said it achieved a 32.2% year-on-year growth of active customers for the period, reaching 1.5 million active customers on 31 December 2018, compared to 1.1 million on 31 December 2017. Gross margins remained about the same as in the first half of full-year 2018.

kogan update

Kogan founder and chief executive Ruslan Kogan said: "“Our team is proud to have delivered the best Christmas trading period the business has ever had. Our customer-centric approach saw us deliver more items than ever, faster than ever.

"The investments we have made in a nationwide logistics footprint enabled us to delight customers all over Australia with rapid delivery, along with the great value they have come to expect from Kogan.com.

"We have invested in the Kogan brand, our logistics capability, and our inventory in the lead up to the back-to-school trading period. We have also improved our marketing performance and the efficiency of some our variable costs.

"We have laid the foundation for expansion of Kogan Money into additional financial services verticals by establishing strong partnerships with Mercer and Citibank, and we have launched Kogan Money Home Loans, in partnership with Adelaide Bank and Pepper.

"The Kogan.com business is innovative, agile and resilient, and we are extremely proud of our ability to help Aussies get the most in-demand products and services for less. We are obsessed about delivering our customers better value, and we look forward into the new year with confidence in our team, and our business strategy.”

Graphic: courtesy Kogan

Read 29546 times

Please join our community here and become a VIP.

Subscribe to ITWIRE UPDATE Newsletter here
JOIN our iTWireTV our YouTube Community here
BACK TO LATEST NEWS here

SONICWALL 2022 CYBER THREAT REPORT

The past year has seen a meteoric rise in ransomware incidents worldwide.

Over the past 12 months, SonicWall Capture Labs threat researchers have diligently tracked the meteoric rise in cyberattacks, as well as trends and activity across all threat vectors, including:

Ransomware
Cryptojacking
Encrypted threats
IoT malware
Zero-day attacks and more

These exclusive findings are now available via the 2022 SonicWall Cyber Threat Report, which ensures SMBs, government agencies, enterprises and other organizations have the actionable threat intelligence needed to combat the rising tide of cybercrime.

Click the button below to get the report.

GET REPORT!

PROMOTE YOUR WEBINAR ON ITWIRE

It's all about Webinars.

Marketing budgets are now focused on Webinars combined with Lead Generation.

If you wish to promote a Webinar we recommend at least a 3 to 4 week campaign prior to your event.

The iTWire campaign will include extensive adverts on our News Site itwire.com and prominent Newsletter promotion https://itwire.com/itwire-update.html and Promotional News & Editorial. Plus a video interview of the key speaker on iTWire TV https://www.youtube.com/c/iTWireTV/videos which will be used in Promotional Posts on the iTWire Home Page.

Now we are coming out of Lockdown iTWire will be focussed to assisting with your webinars and campaigns and assistance via part payments and extended terms, a Webinar Business Booster Pack and other supportive programs. We can also create your adverts and written content plus coordinate your video interview.

We look forward to discussing your campaign goals with you. Please click the button below.

MORE INFO HERE!

BACK TO HOME PAGE
Sam Varghese

Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

Share News tips for the iTWire Journalists? Your tip will be anonymous

WEBINARS ONLINE & ON-DEMAND

GUEST ARTICLES

VENDOR NEWS

Guest Opinion

Guest Interviews

Guest Reviews

Guest Research

Guest Research & Case Studies

Channel News

Comments