Harvey Norman
 |
|
| Public (ASX: HVN) | |
| Industry | Retail: Computer, Electrical, Furniture and Bedding goods |
| Founded | Auburn, New South Wales (October 1982 (age 34)) |
| Founder |
Gerry Harvey Ian Norman |
| Headquarters | Homebush West, New South Wales, Australia |
|
Number of locations
|
194 (Australian, franchised) 86 (overseas, company owned) |
|
Key people
|
Gerry Harvey, Chairman/Co-Founder Ian Norman, Co-Founder John Slack-Smith, Chief Operating Officer Katie Page, Managing Director Chris Mentis, Chief Financial Officer |
| Revenue |
 A$5.3 billion (Australia) (2016)
|
|
A$523 million (2016)
|
|
|
A$349 million (2016)
|
|
|
Number of employees
|
Est. 10,000 (Australia Only) 407 (Homebush West Headquarters) (29 September 2006) |
| Website |
www www |
|
Footnotes / references |
|
194 (Australian, franchised)
Harvey Norman is a large Australian-based, multi-national retailer of furniture, bedding, computers, communications and consumer electrical products. It mainly operates as a franchise(except stores outside Australia), with the main brand and all company-operated stores owned by ASX-listed Harvey Norman Holdings Limited. As of 2016, there are 280 company-owned and franchised stores in Australia,New Zealand, Europe and South-East Asia operating under the Harvey Norman, Domayne and Joyce Mayne brands in Australia, and under the Harvey Norman brand overseas.
Gerry Harvey and Ian Norman opened their first store in 1961, which specialised in electrical goods and appliances. Harvey and Norman had first met when both were working as door-to-door vacuum cleaner salesmen. The store's success prompted Harvey and Norman to expand the business and conduct talks with retailer Keith Lord, who sought to expand his own retail group. They could not settle on a name for the new business, with Harvey and Lord reluctant to take on the other's name. They eventually decided to retain Norman's name and that of its first store manager, Peter Ross. This spawned the retail chain Norman Ross.
Norman Ross became one of the largest appliance retail chains and by 1979 controlled 42 stores with sales exceeding A$240 million. In the early 1980s, Alan Bond and Grace Bros. sought to acquire the chain, spawning a bidding war that saw Grace Bros incorporate the chain in 1982. Three weeks later however, a determined Alan Bond successfully convinced the Grace Bros. director Michael Grace to sell the chain to Bond. Shortly after, Harvey and Norman were given notice and redundancy package of six months pay. Reasons for their sacking were not publicised, although Harvey later told The Daily Telegraph:
Norman Ross later went into liquidation in 1992. In October 1982, Harvey and Norman purchased a new shopping centre in outer Sydney suburb Auburn for A$3 million, and opened the first Harvey Norman store. The enterprise was intended to be a single store but its success led to the opening of others. Harvey Norman Holdings Limited was listed on the Australian stock market on 3 September 1987.
...
Wikipedia