Auckland-based Composite Retail Group is to take over the management of sporting goods retail chain Sportsworld.
Sportsworld chairman Ron Williams said in a statement today Composite's management of the chain would reduce the costs of doing business for his members' stores, making them more competitive.
He said the group would benefit from Composite's buying power, supplier co-ordination, centralised billing, streamlined administration and nationwide marketing, as well as its retail experience and expertise.
"Our members are rural-based and Composite's involvement means they will be able to offer 'city' value, selection and service to their local communities," Mr Williams said.
Sportsworld members would retain ownership of the trading name and shares in their co-operative company, but would also become members of the Composite Retail Group.
Sportsworld is a largely rural-based co-operative which has 35 members with retail sales of over $26 million.
Composite is the country's biggest national buying co-operative, with 450 storefronts generating sales estimated at $650 million.
Its members include footwear, men's and women's fashion apparel, flooring, window furnishings, furniture, giftware, and telecommunications retailers. Its brands include the 45-store Flooring First chain and the Optel communications group.
- NZPA
Composite Retail to take over Sportsworld management
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