Lakeland has cooked up a deal to open concessions Down Under with The Good Guys. Here’s a closer look at the Australian retailer.

  • The Good Guys is an Australian electricals retailer founded by Ian Muir in 1952. 
  • It is one of Australia’s top-10 private companies, with 101 stores nationally and annual sales of around $2bn. 
  • The retailer’s first store – known at the time as Ian Muir’s Radio & Electrical Centre – was in Melbourne, where it now has its headquarters. 
  • True to its name, The Good Guys is an ethically driven retailer. It encourages customers to consider the environmental impact of their purchases and sells energy- and water-efficient products. It has also donated more than $8m to local charities and community groups since 2006 through its local giving programme.
  • Its “Pay Less, Pay Cash” proposition and a popular TV advert in 1998 drove the retailer’s national expansion. It has now moved away from that slogan, however, replacing it with “Pay Less, Pay Less”. 
  • Chief executive Michael Ford has led The Good Guys since 2004. He previously held roles at Australian retailers Country Road, Esprit and Jag Clothing.
  • In January 2010, the retailer made a brief and unsuccessful venture into the New Zealand market. It opened five stores but withdrew its operations in 2014 citing poor returns. 
  • Its shops are generally large warehouse-type stores and rely on big sales volumes.
  • In 2010 competitor JB Hi-Fi was reportedly interested in acquiring the chain for $750m. New Homebase owner Wesfarmers was also believed to have expressed interest in the electricals retailer. 
  • While analysts have valued The Good Guys at close to $600m, it is believed the Muir family will not sell for less than $1bn. 
  • The Good Guys, which has more than 4,000 employees, is currently exploring an initial public offer and listing on the Australian Securities Exchange.
  • The Good Guys will manage Lakeland’s venture into the Australian market, starting with the introduction of 12 store-in-stores in October and followed by a national roll-out over the next two years.