When it comes to shopping in Australia, one of the most recognizable brands is Target. With its bright red logo and extensive range of products, Target Australia has become a staple in many Aussie households. But have you ever wondered who owns this beloved retail giant? In this article, we’ll delve into the history of Target Australia, its transformation over the years, and finally, reveal the identity of its current owner.
A Brief History Of Target Australia
Target Australia was founded in 1925 by businessman George Lindsay in Geelong, Victoria. Initially, the company focused on selling clothing and textiles, but over the years, it expanded its product range to include homewares, electronics, and other general merchandise. Throughout the 20th century, Target Australia continued to grow, with new stores opening across the country.
In the 1960s and 1970s, Target Australia underwent significant changes, introducing new store formats, such as Target Country and Target Home. These formats catered to different demographic groups, offering a more personalized shopping experience. This strategic move helped the company stay competitive in an increasingly crowded retail market.
Transformation And Expansion
In the 1990s and 2000s, Target Australia continued to evolve, introducing new concepts like Target Retailing, which focused on providing a more comprehensive shopping experience. The company also invested heavily in e-commerce, launching its online platform in 2009.
During this period, Target Australia expanded its store network, opening new locations across the country. The company also strengthened its partnerships with suppliers, ensuring a consistent supply of high-quality products at competitive prices.
Changes In Ownership
In 2007, Coles Myer Limited, a leading Australian retailer, acquired Target Australia. This merger marked a significant turning point in Target’s history, as it became part of a larger retail conglomerate. Coles Myer Limited operated Target Australia alongside its other retail brands, including Coles Supermarkets and Kmart.
However, in 2006, Coles Myer Limited was acquired by Wesfarmers Limited, another prominent Australian retailer. This acquisition led to a significant restructuring of the group’s retail portfolio, with Target Australia becoming a subsidiary of Wesfarmers.
The Current Owner: Wesfarmers Limited
So, who owns Target Australia? The answer lies with Wesfarmers Limited, a leading Australian conglomerate with a diverse portfolio of businesses. Wesfarmers Limited operates across various industries, including:
- Retail: Coles Supermarkets, Coles Express, Kmart, Target Australia, and Officeworks
- Chemicals and Energy: Wesfarmers Chemicals, Energy and Fertilisers
- Industrial and Safety: Wesfarmers Industrial and Safety
Wesfarmers Limited’s acquisition of Coles Myer Limited in 2006 marked a significant expansion of its retail presence. Today, Wesfarmers Limited is one of the largest retailers in Australia, with a combined store network of over 2,500 locations.
Wesfarmers Limited’s Strategy For Target Australia
Since acquiring Target Australia, Wesfarmers Limited has implemented various strategies to drive growth and improve profitability. Some of these initiatives include:
Investment In Digital Capabilities
Wesfarmers Limited has invested heavily in Target Australia’s digital capabilities, enhancing its online platform and improving the overall shopping experience. This move has helped Target Australia stay competitive in an increasingly digital retail landscape.
Store Revamp And Refurbishment
Wesfarmers Limited has initiated a comprehensive store refurbishment program, aimed at modernizing Target Australia’s store network. This effort has resulted in improved store layouts, enhanced product displays, and a more engaging customer experience.
Focus On Private Label Brands
Wesfarmers Limited has emphasized the importance of private label brands, such as Target’s in-house labels, including Bellini, DNA, and Xhale. These brands offer customers high-quality products at competitive prices, helping to drive sales and increase customer loyalty.
Conclusion
In conclusion, Target Australia is owned by Wesfarmers Limited, a leading Australian conglomerate with a diverse portfolio of businesses. Through strategic investments in digital capabilities, store refurbishment, and private label brands, Wesfarmers Limited has positioned Target Australia for long-term success. As the retail landscape continues to evolve, one thing is certain – Target Australia remains a beloved and iconic brand in Australian retail.
By understanding the history, transformation, and current ownership of Target Australia, we gain insights into the complexities of the retail industry. As consumers, it’s essential to appreciate the efforts of companies like Wesfarmers Limited, which strive to provide us with the best possible shopping experience.
Who Is The Owner Of Target Australia?
Target Australia is owned by the Wesfarmers conglomerate, a large retail company based in Western Australia. Wesfarmers acquired the business in 2007 as part of its growth strategy to expand its retail presence in the country.
The acquisition of Target Australia was a significant move for Wesfarmers, allowing the company to diversify its retail portfolio and tap into the growing market for discounted department stores. Since taking over, Wesfarmers has invested heavily in modernizing Target’s store network and enhancing its online shopping capabilities.
Is Target Australia Related To Target Corporation In The US?
Despite sharing the same name, Target Australia is not affiliated with Target Corporation, the American retail giant. The similarity in names is purely coincidental, and the two companies operate independently of each other.
While both retailers operate in the discount department store space, they have distinct business models and strategies. Target Corporation in the US focuses on providing a range of products, including fresh groceries, electronics, and clothing, at discounted prices. In contrast, Target Australia has historically focused on offering a more limited range of products at deep discounts, with an emphasis on fast fashion and homewares.
How Many Stores Does Target Australia Operate?
Target Australia operates a network of over 300 stores across the country, employing more than 13,000 team members. The retailer has a strong presence in metropolitan and regional areas, with stores ranging in size from small-format stores in city centers to large format stores in suburban areas.
Target Australia has been investing in optimizing its store network, Closing underperforming stores and renovating others to provide a more modern shopping experience for customers. Despite this, the retailer remains committed to maintaining a strong physical store presence, recognizing the importance of brick-and-mortar locations in driving sales and customer engagement.
What Is The History Of Target Australia?
Target Australia was founded in 1925 in Geelong, Victoria, as a small retail store selling clothing and general merchandise. Over the years, the business grew and expanded, eventually becoming a publicly-listed company in 1962.
In 2007, Wesfarmers acquired Target Australia, marking a significant turning point in the retailer’s history. Under Wesfarmers’ ownership, Target has undergone significant transformations, including the introduction of new store formats, the expansion of its online shopping capabilities, and a renewed focus on fast fashion and homewares.
What Products Does Target Australia Sell?
Target Australia sells a range of products, including clothing, homewares, general merchandise, and electronics. The retailer is known for its affordable prices and trendy fashion items, particularly in its women’s, men’s, and kids’ wear categories.
In addition to its fashion offerings, Target Australia also sells a range of homewares, including bedding, kitchenware, and decorative items. The retailer has also expanded its online offering in recent years, allowing customers to shop from the comfort of their own homes and have products delivered to their doorstep.
Is Target Australia An Australian-owned Company?
While Target Australia is not an Australian-owned company in the classical sense, it is an Australian-based business with a long history of operating in the country. Wesfarmers, the parent company, is an Australian conglomerate with a strong presence in the retail and industrial sectors.
Despite being owned by a large corporation, Target Australia has a distinct Australian identity and a commitment to supporting local communities. The retailer sources many of its products from local suppliers and manufacturers, and employs thousands of Australians across its store network and support offices.
What Is The Future Of Target Australia?
The future of Target Australia looks bright, with the retailer poised to continue its transformation journey under Wesfarmers’ ownership. In recent years, Target has made significant progress in modernizing its store network, enhancing its online shopping capabilities, and improving its customer service.
Looking ahead, Target Australia is expected to continue investing in its e-commerce capabilities, with a focus on providing customers with a seamless shopping experience across online and offline channels. The retailer is also likely to continue its focus on fast fashion and homewares, areas where it has seen strong growth in recent years.