Geoff McIntosh. Photo / Supplied
Furniture retailer Freedom opens its first store in New Zealand in 10 years today, amid record falls in retail sales and with no sign of recovery this year.
The new store at the Albany Gateway Centre is one of its bigger sites at 2752sq m.
Geoff McIntosh, group managing director
of Freedom's Australian-based parent Steinhoff Asia Pacific, said when the credit crisis peaked late last year it considered deferring the opening.
But furniture was a cyclical business and Freedom had seen growth in its market share year-on-year. "It's really about making sure that we get our brand represented in core catchments in the right sort of size for the future."
Freedom's core customers were women aged 30 to 40-plus.
He said the company didn't foresee any significant growth in its business this year other than from what it had added in extra store capacity.
McIntosh said Freedom manufactured its fabric sofas locally.
Furniture manufacturing was "a super tough game", but the two areas that remained import-resistant were fabric sofas and bedding because customers demanded that the variety and supply be readily available.
Statistics New Zealand figures show seasonally adjusted retail sales volumes fell a record 2.9 per cent in the March quarter, double the previous largest quarterly falls seen in March 1997 and June 2008.
Steinhoff Asia Pacific operates Freedom in New Zealand and Australia, and also operates the Snooze bed chain and leather specialist Bay Leather Republic in Australia.
It now has 15 New Zealand Freedom stores.
