Profile - Harvey Norman
Parent Company: Harvey Norman Holdings Limited
Brand Value: $519 Mil.
Headquarter City: Homebush West, New South Wales
Year Formed: 1982
Gerry Harvey and Ian Norman, both door to door salesmen, launched their first electrical goods and appliance store in 1961. After bidding wars in the early 1980s, the company listed on the ASX in 1987 and in the early 1990s the company adopted a “superstore” format allowing it to enter the computer and furniture market which then later evolved into the household goods giant they are today. Following key acquisitions in the late 1990s and early 2000s, Harvey Norman expanded its store count to over 100 and today operates 280 owned and franchised stores in Australia, New Zealand, Europe and Southeast Asia. Generating over AU$5.3 billion in revenues in 2016 with a net income of over AU$349 million, the company employs 10,000 people in Australia alone. Their unique stores feature departments operated by independent management teams who lease and share revenues with Harvey Norman. This ensures that each department has the best salespeople all incentivized for success while delivering customer service. The company achieved icon status with strength in New South Wales, Victoria, and Queensland but also has strong presence in Western Australia.