Milan Direct
 | |
| Industry | Online Retail |
|---|---|
| Founders | Dean Ramler |
| Headquarters | Australia |
Areas served |
|
| Products | Housewares |
| Owner | Temple & Webster |
| Website | Milan Direct |
Milan Direct was an Australian-based furniture company [1] that is now sold as a private label under the Temple & Webster brand.[2] The company was founded in 2006[3] and operates primarily through an online marketplace.[4][5]
Milan Direct was bought by online retailer Temple & Webster in 2015 for $20 million,[6][7][8] and is traded under TPW on the ASX.[9]
Overview
[edit]Milan Direct was founded in 2006 by Ruslan Kogan and Dean Ramler. Previously, Kogan had launched an online electronics retail business,[10] and Ramler's family has had a history of furniture design and production.[11] The company sells both modern and retro furniture[3][12] and uses a direct to consumer distribution method.[3]
By 2010, the company had a revenue of $5.3 million and was named to the BRW Fast Starters list.[13] In 2011, Milan Direct generated $6.7 million in revenue and $12.6 million in 2012.[14]
Acquisition
[edit]In November 2015, Temple & Webster acquired Milan Direct ahead of its IPO.[7][8][15] In 2016, Milan Direct opened its first brick and mortar retail location in Richmond, Victoria.[16][17] In December 2016, Temple & Webster absorbed Milan Direct, shut down its website and began selling its products from the Temple & Webster website as a private collection.[18]
References
[edit]- ^ Bailey, Michael (2 March 2014). "The Factory put Freedom Stickers on our Stuff: Milan Direct CEO Dean Ramler Says Selling Furniture as Much About Data as Design". Business Review Weekly. Retrieved 13 January 2016.
- ^ Kimmorley, Sarah (14 December 2016). "Temple and Webster and Milan Direct are Merging". Business Insider Australia. Archived from the original on 14 December 2016. Retrieved 24 January 2017.
- ^ a b c Bishop, Jen (12 March 2010). "Furniture Entrepreneur Grows Online Business". Dynamic Business. Retrieved 13 January 2016.
- ^ Redrup, Yolanda (23 August 2013). "50 Years of Furniture: How Dean Ramler Created Australia's Leading Online Furniture Store Milan Direct". Smart Company. Archived from the original on 24 September 2015. Retrieved 13 January 2016.
- ^ Carmody, Broede (31 March 2016). "Why Milan Direct Has Opened a Bricks-and-Mortar Store After 10 Years as an Online-Only Retailer". SmartCompany. Retrieved 21 April 2016.
- ^ Carmody, Broede (13 November 2015). "Temple & Webster to Acquire Milan Direct and List on the ASX Next Month in a $60 Million IPO". Smart Company. Retrieved 13 January 2016.
- ^ a b Mitchell, Sue (13 November 2015). "Temple & Webster Acquires Milan Direct Ahead of IPO". Sydney Morning Herald. Retrieved 13 January 2016.
- ^ a b Thumm, Julian (13 November 2015). "Temple & Webster Acquires Milan Direct, Prepares for IPO". Power Retail. Retrieved 13 January 2016.
- ^ "Temple and Webster Group LTD". EODdata. Retrieved 13 January 2016.
- ^ Bishop, Jen (17 July 2010). "Ruslan Kogan:Young, Rich and Growing Two Businesses Fast". Dynamic Business. Retrieved 13 January 2016.
- ^ Kidman, Angus (19 June 2015). "How I succeeded:Milan Direct's Dean Ramler". Life Hacker. Retrieved 13 January 2016.
- ^ Keighran, Mandi (27 July 2012). "KnockIt Off". Sydney Morning Herald. Retrieved 13 January 2016.
- ^ D'Angelo Fisher, Leo (31 March 2011). "Familiar Product, Novel Marketing". BRW. Retrieved 13 January 2016.
- ^ Khadem, Nassim (20 August 2013). "Milan Direct on Track to Reach $15M Revenue As it Eyes Asia For Growth". BRW. Retrieved 13 January 2016.
- ^ Thompson, Sarah; Macdonald, Anthony; Moullakis, Joey (6 November 2015). "Temple & Webster IPO Closes Over-Subscribed". Financial Review. Retrieved 13 January 2016.
- ^ Thumm, Julian (31 March 2016). "Milan Direct Launches Pop-up Store". Power Retail. Retrieved 21 April 2016.
- ^ "Milan Direct Opens First Melbourne Location". Internet Retailing. 31 March 2016. Retrieved 16 August 2016.
- ^ Low, Catie (13 December 2016). "Temple & Webster Swallows Milan Direct". The Sydney Morning Herald. Retrieved 24 January 2017.