Freedom Furniture
 | |
| Industry | Retail |
|---|---|
| Founded | 1981 |
Number of locations | 61 stores, 47 in Australia[1] and 14 in New Zealand [2] (2023) |
Area served | Australia, New Zealand |
| Products | |
Number of employees | 1000+ |
| Parent | Greenlit Brands |
| Website | www www |
Freedom is a furniture and homewares retail chain in Australia and New Zealand.[3] It is owned and operated by Greenlit Brands.[4]
History
[edit]Freedom was founded in 1981 in Sydney by Warren Higgs.[5] Its first Melbourne store opened in 1984.[6] Freedom was purchased by investment company Jamison Equity in July 1991.[7]
In 1996, Freedom went public on the Australian Securities Exchange.[8] The same year, it expanded to New Zealand through local franchisee Farmers Deka.[7][9]
In April 1999, Freedom acquired the Guests and Andersons furniture chains for $22.4 million in cash and stock.[10] In 2000, it acquired bedding company Capt'n Snooze.[11] In 2002, the company acquired the Bayswiss homewares chain.[12]
In 2003, Freedom was bought out and taken private by management in a deal backed by Steinhoff International, the company's supplier and largest shareholder.[13][14]
In 2004, Freedom entered the UK market through a management and supply agreement with Cargo Homeshop, a furniture and homewares with 36 stores at the time. The deal gave Freedom management control over the retailer, with the option to purchase it outright in the future. Freedom also planned to alter the retailer's product range and introduce Freedom products.[15][16]
The New Zealand arm had 13 stores by 2008.[17] and 15 stores by 2009.[18] In 2023 Freedom saw the closure of two New Zealand stores; Palmerston North & Taupō. Leaving 12 remaining stores around New Zealand including five in Auckland.[19]
References
[edit]- ^ Store locator – Australia
- ^ Store locator – New Zealand
- ^ Tanya Ha (2012). Greeniology 2020: Greener Living Today, and in the Future. Melbourne University Publishing. ISBN 978-0522858549.
- ^ Gibson, Anne (7 March 2012). "Sylvia Park $60m deal the biggest". The New Zealand Herald. Retrieved 13 September 2014.
- ^ Bennett, Tess (11 March 2021). "Fewer unhappy returns: How Freedom Furniture is getting its digital house in order". Mi3. Retrieved 1 February 2024.
- ^ "Freedom: An Australian retail icon celebrates 40 years". Unwrap. 27 October 2021. Retrieved 1 February 2024.
- ^ a b Shoebridge, Neil (11 December 1995). "Freedom is Flush and Fancies a Float". Australian Financial Review. Retrieved 1 February 2024.
- ^ "Freedom considers private ownership". ABC News. 19 August 2003. Retrieved 1 February 2024.
- ^ "Freedom Furniture opens pop up shop in Northland". New Zealand Media and Entertainment. Northern Advocate. 28 February 2018.
- ^ Schmidt, Lucinda (26 November 1999). "Freedom unfettered". Australian Financial Review. Retrieved 1 February 2024.
- ^ "Bosses' $220m bid for Freedom". The Age. 20 August 2003. Retrieved 1 February 2024.
- ^ "Freedom to buy Bayswiss homewares". The Sydney Morning Herald. 8 August 2002. Retrieved 1 February 2024.
- ^ Shapiro, Jonathan (14 June 2018). "Steinhoff's secret empire had 'murky' Australian origins". Australian Financial Review. Retrieved 1 February 2024.
- ^ "$221m buy-out on the table". The Sydney Morning Herald. 20 August 2003. Retrieved 1 February 2024.
- ^ Mitchell, Sue (26 May 2004). "Freedom to shop around". Australian Financial Review. Retrieved 1 February 2024.
- ^ "Freedom managing director stands down". The Sydney Morning Herald. 3 November 2005. Retrieved 1 February 2024.
- ^ "Freedom Furniture to open Albany store". APN News & Media. New Zealand Herald. 26 May 2009.
- ^ Slade, Maria (28 May 2009). "Freedom opens first new store in 10 years". APN News & Media. New Zealand Herald.
- ^ "Freedom Furniture". freedomfurniture.co.nz. Greenlit Brands.
External links
[edit]- Official website – Australia
- Official website – New Zealand