Page 41 - HW FEBRUARY 2022

then as now
Then as now
– Feb 1992 & 2012
Back in 1992, before MEGA was even an artist’s impression, Mitre 10 NZ recorded some $400 million in turnover. 30 years later, armed with MEGA, it’s a $2 billion-plus operation.
format store in Aussie.
Mitre 10 NZ would unveil its plans for MEGA in 2003.
THE CO-OPS EXPAND IN FEB 2012
Still, by the end of 2011, Mitre 10 NZ was talking about how its format and expansion strategy – “an ongoing shift to large format MEGA stores and an increased national footprint” – were showing highly positive results.
Indeed, at the co-op’s 2011 Annual Members Meeting,
Mitre 10 NZ Chairman Martin Dippie had presented an $849 million revenue figure from its 100+ Mitre 10 stores and 60-odd Hammer Hardwares.
The MEGA format would continue expanding majorly for
at least another year, with nine new MEGAs having opened
in the previous two years (MEGAs then totalled 31) as well as undertaking major upgrades in Hastings (MEGA number one!) and Greymouth.
More open back then about the co-op’s trading figures than in recent years, Mitre 10 was happy to pass on that it was “tracking towards breaking through the $1 billion revenue target in the foreseeable future”.
These days, it’s probably safe to say that Mitre 10 NZ’s turnover is more than $2 billion.
Staying with co-ops, late in 2011, we attended the opening of the new TUMU ITM Building Centre in Napier, along with 440 other industry players and locals.
Back then, TUMU was already in its 30th year with the Napier ITM branch joining others in Gisborne, Hastings, Havelock North, Dannevirke and Masterton.
Then as now, John O Sullivan was Managing Director of the TUMU Merchants group, TUMU ITM’s Regional Manager was Paul Waite, and the Napier Store Manager was Jamie Webster, fresh back then from a couple of years as Trade & Development
By 2011, Mitre 10 MEGA Hastings (the very first Mitre 10 MEGA back in 2004) had required major upgrades.
WE LOOK BACK at the world through the eyes of NZ Hardware Journal.
1992 was to be a year of ups and downs. The economy was on the rebound and the population was a burgeoning 3,533,000, just 1% up on the previous year.
Jim Bolger was PM and the late Mike Moore led the opposition, while Les Mills, Jim Belich and Vicki Buck were still the Mayors of our three major metro centres.
NZ Hardware Journal’s movers & shakers for February 1992 included larger-than-life Welshman Rod Williams, who passed in 2010, but in early 1992 had been named Manager of the Makita Division of Morris Black & Matheson (Makita would establish subsidiary Makita NZ the following year).
The 1992 Selleys team was also being exposed in the magazine with Steve Broad joining as National Sales Manager. His time at Selleys would take Steve to Aussie and 30 years later, his current LinkedIn profile shows him providing international sales for Pedders in Brisbane.
Marking its 36th year in New Zealand in 2022, 30 years ago this month, Nelson Pine Industries was already celebrating, having doubled production at its GoldenEdge MDF plant.
Back to 1992 and Papatoetoe tapware manufacturer Dorf Industries was celebrating having just become the first New Zealand tapware manufacturer to get ISO 9002 accreditation. These days, Dorf is of course part of Australia’s GWA group, whose portfolio also includes Caroma, Methven, and Clark.
Of the retailers, 30 years ago, in February 1992, Mitre 10
was thanking its 113 members for contributing to the co-op’s achievement of being named one of three “hidden champions” by the World Economic Forum, having been ranked 141st out of 150 with an estimated turnover of $400 million.
The late Ted Bold was the cooperative’s Chairman at that time with Murray McLean as CEO and it would be another two years before Bunnings opened its first truly “big box”
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FEBRUARY 2022 | NZHJ 39