Kogan takes on Amazon with new marketplace
Written on the 14 March 2019 by David Simmons
Kogan.com's (ASX: KGN) latest play looks quite familiar.
Dubbed 'Kogan Marketplace' the new online shop launches today with more than 100,000 products from external retailers.
The model seems pretty similar to the way Amazon operates, allowing businesses to use the marketplace and e-tail infrastructure to sell their own products.
Microsoft, Breville, SodaStream, Gilette, Gucci and Philips are just a few of the brands launching on day one with Kogan.com.
Kogan.com says their new marketplace is a "win-win-win". A win for customers, a win for businesses, and, of course, a win for Kogan.com.
"Our mission is to make the most in-demand products and services more affordable for all Australians," says Lazar Monin, director of Kogan Marketplace.
"The launch of Kogan Marketplace is a win-win-win for everyone. Retailers on the Kogan Marketplace will get market-leading infrastructure and the ability to offer their goods to the Kogan Community."
Though Amazon's entry into Australia doesn't appear to have been the Australian retail killer like many feared it is clear that Kogan.com wants to go toe-to-toe with Jeff Bezos and maintain his domination over Australian e-tail with the launch of Kogan Marketplace.
The launch of Kogan Marketplace comes after some strong 1H19 results for the retailer. During the half the company saw its revenue grow 10.6 per cent to $231.8 million and gross profit grow by 10.8 per cent to $40.7 million.
Founder of Kogan.com Ruslan Kogan was named the number two Young Australian Entrepreneur by Business News Australia in 2018.
Shares in Kogan.com are up 5.04 per cent to $3.75 per share at 10.46am AEDT.
Business News Australia
Author: David Simmons