Wesfarmers buys Catch to help bring Kmart, Target into digital age
Wesfarmers has bought the online retailer Catch Group for $230 million, and hopes to use the pioneering Australian company’s e-commerce prowess to help guide its department stores Kmart and Target into the digital age.
The conglomerate, which also owns Bunnings, Officeworks and until recently Coles, said on Wednesday that Catch Group would continue to operate as an independent business under the oversight of Kmart Group boss Ian Bailey.
The acquisition would “accelerate Wesfarmers and Kmart Group’s digital and e-commerce capabilities whilst continuing to invest in the unique customer and supplier proposition,” Wesfarmers managing director Rob Scott said in a statement. Sydney Morning Herald – Read more…