Bing Lee
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| Private | |
| Industry | Retail |
| Founded | 1957 |
| Headquarters | Old Guildford NSW, Australia |
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Key people
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Bing Lee (Co-founder); Ken Lee (Co-founder) Lionel Lee (grandson, CEO) |
| Website | binglee.com.au |
Bing Lee is an Australian retailing company, a chain of superstores specialising in consumer electronics, computer and telecommunication goods. Bing Lee is the largest privately held electrical retail business in New South Wales with 41 stores (13 franchised) and a turnover of about $490 million.
The business began when Bing Lee (Chinese: 李冰,Pinyin: lǐ bīng) purchased an electrical repair business in Fairfield, New South Wales, in 1957. Lee, along with his son Ken Lee (Chinese: 李光裕, Pinyin: lǐ guāng yù), transformed the repair business into an electrical product retail and repair/installation business named Bing Lee Electronics (Chinese: 并力电器,Pinyin: bìng lì diàn qì). Initial growth came from the surge in demand for televisions, as well as a host of other household items like washing machines, cooking equipment, heaters and audio equipment. Bing Lee was a member of Retravision NSW for a number of years before leaving and joining the Narta Group. Bing Lee opened new stores in other Sydney suburbs and across New South Wales.
Bing Lee, the founder, died in 1987 (aged 79) and Ken was appointed Chairman. Ken Lee died on 21 December 2007 of cancer, aged 75. His eldest son, Lionel Lee, took over as chief executive of the company.
Around the turn of the century, the franchisee concept was introduced to the business. Today 16 of the 40 Bing Lee retail outlets are run by franchisees. Bing Lee also has the management rights to the "Sony Centre" concept in NSW and the ACT and currently has stores located in Chatswood, Drummoyne and World Square in Sydneys' CBD.
Bing Lee sponsored the Bulldogs Rugby League Football Club until allegations that players were allegedly involved in a gang rape in Coffs Harbour.
Bing Lee signed a 2-year sponsorship deal with A-League club Sydney FC in February 2007. On Sydney's Home strip the front is taken up with Bing Lee, and on the away jersey it is on the front and back of the right leg of the shorts.
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Wikipedia