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Tag: Australia

  • Chobani Australia unveils oat yoghurt range

    Chobani Australia unveils oat yoghurt range

    Chobani Australia has extended its non-dairy offering, adding a range of oat yoghurts to its suite of products.

    According to a company statement, Chobani Australia recognised the growing ‘flexitarian’ market, and was motivated to provide these consumers with a greater variety of plant-based food options.

    The company also saw this as an opportunity to diversify the dairy-free yoghurt category, “currently dominated by high fat, strong tasting coconut yoghurt options,” the statement reads.

    The new oat yoghurt range follows Chobani’s entry into the dairy alternative market in 2021, when it launched its oat milk.

    There are two sizes (150g and 500g) and five flavours in the new range: Strawberry, Mango, Blueberry, Vanilla and Natural.

    The range is available in all Woolworths and Coles outlets, and soon to be in independent retailers.

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  • Monnet Cognac launches in Australia

    Monnet Cognac launches in Australia

    Monnet is one of the most historical signatures of the Cognac region, and since its founding in 1838, has become known around the world for its ‘art de vivre’ (bringing people together through the art of living).

    It is commonly referred to as the ‘sunny side of cognac’ as it sets itself apart by the liquids radiant glow and brightness. As well as being an iconic signature of Cognac, Monnet Cognac has become famous through Leonetti Capiello’s renowned poster, ‘Sunshine in a glass’, which was illustrated for Monnet in the 1920s.

    Made with fine grain French oak, Monnet Cognac offers a fruity eau-de-vie and floral flavour profile with great aromatic richness, and is the result of secular tradition and generations of cellar masters who have turned the cognac into a drink of refinement and pleasure. Monnet’s makers use Ugnic Blanc grape variety to create six sweet signatures with low levels of sugar and acidity, that burst with aromas of apricots, peaches, stone fruits, and white flowers to embody the perfect sunny beverage.

    True to tradition, Monnet uses a copper pot still double distillation to produce its cognacs. Aged for a minimum of two years to achieve a greater aromatic richness and finesse, Monnet distils with the lees, a method that reveals the sunny aromas associated with this beloved signature.

    Export manager of Monnet Cognac, Austin Cooney, said: “We’re so excited to launch Monnet in Australia, and offer locals a taste of our rich French culture and history. While many know our name, most are yet to experience the taste for themselves, so we are looking forward to sharing this bright side of cognac with a new audience and helping them learn new ways to enjoy cognac: whether it be neat, on the rocks, or in cocktails.”

    With six Monnet Cognacs now available in Australia, there truly is a style to suit every palate and occasion:

    • Monnet VS – Monnet VS is aged in Limousin oak casks for a minimum of three years. Sparkling gold in colour, Monnet VS exudes aromas of fresh flowers and delicate spices with a soft touch of vanilla. On the palate, it reveals freshness and finesse, followed by a long, warm finish. RRP $72.99, ABV 40 per cent.
    • Monnet Sunshine – Monnet Sunshine’s roundness and fruitiness are remarkable, creating a product which is both elegant and accessible. Bright gold with a smooth texture, this SKU boasts warm sunset nuances. Full of aromas of quince jam accents and spring flowers like lilac and daffodils, Monnet Sunshine is smooth with hearty notes of summer fruits such as apricot and peach with a light touch of vanilla and gingerbread. RRP $75.00, ABV 40 per cent.
    • Monnet VSOP – At the heart of Monnet’s range, VSOP is aged in Limousin oak casks for a minimum of five years. Pure amber in colour, Monnet VSOP reveals spicy aromas of vanilla, dried fruits and hints of leather. On the palate, it is deliciously rich and balanced, with notes of honey, nougat and a long, smooth finish. RRP $82.99, ABV 40 per cent.
    • Monnet XO Carafe – Monnet Flamboyant is a bright and sophisticated XO decanter inspired by the sun. The Monnet XO decanter embodies a flower about to bloom in the sun. Full of life and energy, it is an ode to what nature and man can do when they work in harmony. RRP $189.99, ABV 40 per cent.
    • Monnet XXO – Beyond excellence Monnet XXO proposes an unprecedented journey into the exceptional nuances of Cognac. Produced in very small quantities, this rare XXO represents the epitome of Monnet’s savoir-faire, with a perfect roundness associated with a stunning delicacy. RRP X, ABV 40 per cent.
      Monnet Salamander – The perfect match of Cognac and gentle spices. The idea behind Salamander is to see Cognac from a different angle: a spirit which is also delicious when mixed with spices and other noble botanicals, as the Salamander is known for its capacity to withstand fire. RRP $41.95, ABV 30 per cent
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  • Accolade Wines named Supplier of the Year in Australian Drinks Awards

    Accolade Wines named Supplier of the Year in Australian Drinks Awards

    At the Endeavour Group Supplier of the Year Awards in Melbourne, Accolade Wines was named Supplier of the Year and Supply Chain of the Year.

    This award recognises the supplier that has demonstrated the agility and ability to problem solve and innovate in partnership with us across the supply chain.

    Like no year before, 2021 produced a spotlight on supply chain management. Building resilience into the supply chain and partnering with Endeavour, Accolade showed great capacity to persist, adapt and transform in the face of change.

    Andrew Clarke, MD Accolade Wines ANZ said: “Our number one imperative at Accolade is to be customer centric. We put the customer at the core of everything we do and, in a time, when a global pandemic has impacted the supply chain more than ever before, achieving this award means so much to us.

    “It has been a huge effort across every function of our business, right through the entire supply chain. From our world class winemakers creating amazing wines, to leading in category and consumer insights, being at the forefront of innovation, bold in our brand support and shopper initiatives, and progressive with our digital activation.

    “I am hugely proud of our team, and it is our promise to our customers that we will continue to create value in the way we partner and continue to deliver world-class products for consumers to enjoy.

    “We are building something special here at Accolade and I am proud to see what else we can achieve with our outstanding teams.”

    “The calibre of winners across a broad spectrum of areas – including sustainability, product development and brand activation – reflects the innovative and creative spirit of the broader drinks industry,” Endeavour Group’s Director – Buying & Merchandising Tim Carroll said.

    “After a two year break, it was fantastic to see our supply partners in person. We are already planning next year’s event and we can’t wait to do it all again,” he added.

    Accolade was also awarded Supply Chain of the Year Awards for its “great capacity to persist, adapt and transform in the face of change”.

  • Eat more avocados, as supplies soar

    Eat more avocados, as supplies soar

    Australia’s avocado glut is “just the beginning” with domestic production tipped to jump by 40 percent in the next five years.

    A supply boom means households have been enjoying more avocados at cheaper prices.

    But agribusiness bank Rabobank suggests Aussies will need to eat and export even more, as growers grapple with soaring production growth over the next five years.

    This year alone, the per capita supply of avocados is estimated to be up 26 percent on the previous year, equating to 22 avocados for every Australian, according to the bank’s analysis.

    A bumper crop, mainly in Western Australia and Queensland in 2021-22, caused a national oversupply which led retail prices to plunge to a record low $1 each in June last year, and again in early July.

    Retail prices this year are 47 percent below the five-year average for the fruit, putting pressure on farmers already dealing with rising production costs and labor shortages, RaboResearch associate analyst Pia Piggott said in the report.

    The volume of avocados eaten by Aussie households jumped 31 percent in 2021-22 compared to the previous year, while they spent 29 percent less on them due to the lower prices.

    At the same time, export volumes rose by more than 350 percent in the past year, the Rabobank report said.

    Domestic production will expand by 40 per cent, or 50,000 tonnes in the next five years, industry forecasts suggest, with all of Australia’s avocado regions expecting growth.

    It means Aussies and overseas markets will need to love locally grown avocados even more to use up the extra production in coming years.

    “Ramping up exports will be critical in ensuring the market finds a better balance to support sustainable prices for growers,” the report said.

    The representative body for Australia’s avocado industry has urged people to stock up on the fruit, which is rich in healthy, good fats.

    “Like all growers, avocado growers have also been experiencing high input costs from increases in the cost of fertiliser, fuel and labour shortages,” Avocados Australia CEO John Tyas said last month.

    “Despite this, avocados are being sold at prices that are offering excellent value for shoppers at the moment.

    “While households are feeling the pinch with inflation, we recommend that shoppers take advantage of the health-giving properties of avocados.”

  • Australia and Singapore to Jointly Fight Against Scam Calls and Messages

    Australia and Singapore to Jointly Fight Against Scam Calls and Messages

    Australia and Singapore will unite in the fight against unsolicited telemarketing, spam and scams, following an agreement between the Australian Communications and Media Authority (ACMA) and the Info-communications Media Development Authority of Singapore (IMDA).

    The new strategic agreement will promote further engagement and information-sharing between the two agencies and assist with both investigations and compliance with telecommunications laws in both countries.

    This memorandum of understanding (MOU) complements the 2020 Australia-Singapore Digital Economy Agreement to expand trade and economic ties in our region. It follows similar agreements the ACMA has made with its regulatory counterparts in the USA, Canada and New Zealand.

    Research conducted by the ACMA in 2021 found that 98% of Australians received some form of unsolicited communication. Scam calls were the most prevalent type of unwanted communication, with 4 in 10 Australians receiving them at least weekly.

    ACMA Chair Nerida O’Loughlin said she was pleased to further strengthen the ACMA’s strong working relationship with the IMDA.

    “Almost every Australian is impacted by unwanted calls, SMS and emails, and we know that many of our international colleagues are dealing with the same issues,” O’Loughlin said. “This agreement will see us building stronger ties with our Singaporean counterparts to crack down on unsolicited calls and messages, particularly when cross-border issues are involved.”

    Lew Chuen Hong, Chief Executive of IMDA said, “Scams is [sic] a global issue that do not respect geographical boundaries. This MOU is an important step for the international community to join forces and tackle this issue decisively. I am happy to join in this partnership with our Australian counterparts and together, the MOU will benefit the citizens of our both countries and increase trust in our telecommunication systems.”

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  • AirAsia X adds three new routes

    AirAsia X adds three new routes

    AirAsia X confirms its latest services to Melbourne (Tullamarine), and Perth in Australia and Auckland in New Zealand will launch on 1 November 2022.

    The three new services boost the airline’s routes to 13. It is already serving  Sydney, New Delhi, Seoul, Tokyo, Sapporo, Osaka and Honolulu, as well as London, Dubai and Istanbul.

    AAX will recommence its services to Melbourne (Tullamarine), Perth and Auckland (via Sydney) with three weekly flights starting in November and gradually increasing to daily flights by the first quarter of 2023.

    On the AirAsia Super App and website, the starting fare to Perth is MYR 499, to Melbourne  MYR699 and Auckland MYR999 (inclusive one-way economy). Premium Flatbed fares start from MYR1,999 to Perth, MYR2,999 to Melbourne and MYR5,999 to Auckland.

    Guests flying to Kuala Lumpur can also enjoy all-in value fares one way from AUD209 from Perth, AUD359 from Melbourne, and NZD499 from Auckland in economy class.

    AAX also flies from Kuala Lumpur to Sydney with all-in fares from MYR899 (economy) and MYR2,799 (Premium Flatbed) one-way.

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  • New chicken welfare standards raised across Australia and New Zealand

    New chicken welfare standards raised across Australia and New Zealand

    Restaurants across Australia and New Zealand are being encouraged to sign on to a new set of standards that aims to provide better welfare for chickens raised for meat.

    The New Zealand Society for the Prevention of Cruelty to Animals (SPCE) has established The Better Chicken Commitment, a set of welfare standards prohibiting the use of abnormally fast-growing poultry breeds killed at just six weeks old in favour of healthier breeds that grow naturally. It also ensures that the chickens have more space, natural lights, enrichments, and “less suffering” at slaughter.

    SPCE consulted the non-profit global organisation, World Animal Protection (WAP), in developing the new chicken welfare standards, together with Animals Aotearoa and The Humane League, and is supported by nine national and global animal welfare organisations.

    Rochelle Flood, campaigns manager for WAP in Australia and New Zealand, said this is a huge opportunity for the region to step up and raise the bar for chicken welfare.

    “Right now, millions of chickens are suffering from chronic pain and organ failure, often unable to move freely, collapsing under the weight of their unnaturally large bodies,” she said

    “Compassionate consumers deserve a higher welfare choice at the checkout, and it’s time for the industry to align with consumer expectations.”

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  • Modibodi acquired by Swedish multinational Essity for $140 million

    Modibodi acquired by Swedish multinational Essity for $140 million

    Australian leakproof apparel pioneer Modibodi has been bought by Swedish hygiene and health company Essity in a deal worth $140 million.

    Essity, which owns the Tena brand of disposable incontinence products, says the acquisition will strengthen its position in the leakproof apparel market which it describes as the fastest-growing segment in the intimate hygiene category.

    “Modibodi has the qualities we are looking for with leading market positions, strong brand and sustainability credentials as well as excellent digital marketing and e-commerce capabilities,” said Magnus Groth, president and CEO at Essity.

    Modibodi was founded by its CEO Kristy Chong nine years ago and has a strong market presence in Australia, New Zealand and the UK. Last year’s sales were around $56.7 million, representing on-year growth of 18 per cent. EBITDA was $5.6 million.

    In a statement issued by Essity, Chong said that as a global leader in hygiene and health, the Swedish company “can provide the expertise and capital to take the brand forward during its next phase of growth, and achieve even greater impact”.

    The deal was one of two acquisitions in the category confirmed by Essity overnight on Friday. The company will also purchase an 80-per-cent stake in Knix, a Canadian e-commerce startup that designs and sells leakproof underwear, swimwear, bras and other apparel. That deal was valued at A$459 million The founder and CEO of Knix, Joanna Griffiths, will retain the balance of the shares and continue as president.

    Strong growth projected in leakproof market

    Essity expects the leakproof apparel market to grow by more than 20 per cent in each of the next five years and Modibodi will join the company’s existing brands in the sector, including Libresse, Bodyform, Saba and Tom Organic.

    Founded five years ago, after being sun off by FMCG giant SCA, publicly listed Essity also sells single-use products such as tissue paper and baby diapers, along with solutions for compression therapy, orthopaedics and wound care.

    The company has 46,000 employees worldwide and reported net sales of $18 billion in 2019. Its name is a compression of the words essentials and necessity.

    Modibodi’s range includes leakproof apparel for periods and incontinence including underwear, swimwear, activewear and maternity wear. It sells online in a direct-to-consumer business model, as well as through retailers, both online and offline. The Sydney-headquartered company has 45 employees.

    Essity said it expects to finalise the deal during the second half of this year.

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  • Australians set online shopping record

    Australians set online shopping record

    A record 9.3 million Australian households made online purchases in the year to March according to data released by Australia Post.

    The postal service said online spending increased by 12 per cent year on year and in the six months from July to December 2021, an average of 5.6 million households purchased online each month.

    The dominant categories were pet foods (38 percent), tools and garden supplies (29 percent) discount items (32 percent) athleisure (17 per cent) and baby products (18 percent).

    One in three purchases were directed to NSW, which recorded the highest participation among states, growing by 27 per cent year-on-year.

    Australia Post’s head of e-commerce analytics, Rose Yip, said the growth in online shopping has accelerated “beyond expectations”.

    “We’ve seen more than 900 million parcels delivered in the past three years alone, which says so much about how quickly e-commerce has grown in a short amount of time.

    “It’s now the norm for so many Australians, with more than 5 million households regularly shopping online every month, which is why we’ve not only increased our network capacity but we’re investing in more new facilities, technology and our fleet to set up a strong and sustainable network for the future.”

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  • Nectar of the dogs expands into Southeast Asia

    Nectar of the dogs expands into Southeast Asia

    Australian pet supplement brand Nectar Of The Dogs – which launched in the Australian market in 2021– is now expanding to meet the needs of overseas dog owners. Through a partnership with Asia Pet World, Nectar Of The Dogs is now available for online purchase and distribution globally, with pet owners in Singapore able to purchase the products in store.

    The partnership marks a dramatic milestone for the Sydney based start-up, which until now has been available to purchase only within Australia. Partnering with Asia Petworld means Nectar Of The Dogs can now reach the distributor’s network of over 500,000 households, and will be stocked on the shelves of Singpet Superstore – Singapore’s largest pet store.

    Partnering with natural health experts, veterinarians, food technologists and dog lovers, Nectar’s range of medicinal water supplements are made in Australia with high-quality, human-grade, plant-based ingredients. Nectar’s formulations are aimed to assist pet parents with the top health concerns for today’s dogs, including joints, immune system, calming the nervous system, and supporting skin health, gut and digestive system. The five products from Nectar’s range will be available to dog owners throughout Singapore.

    The growth of the brand represents rising demand for high quality, natural supplements for dogs, not just in the Australian market. Formulated in Australia by a team of food technologists and complementary health experts, Nectar Of The Dogs offers human grade, plant-based supplements that dogs find delicious.

    “We’re experts in supplements for dogs and people,” shares Nectar of the Dogs Founder, Gabriel Perera. “With Nectar, we’ve created a range of products that we wanted for our own dogs, with each ingredient painstakingly formulated to deliver maximum benefit, based on clinical evidence in dogs that tastes amazing.”

    More than just a healthy dog supplement brand, plant-based and Australian-made Nectar is better for the planet. All of Nectar’s formulas are carefully packaged in recyclable and compostable packaging, avoiding any single-use plastics.

  • Metcash to invest $70 million in new Vic DC

    Metcash to invest $70 million in new Vic DC

    Metcash, the Australian wholesaler and distributor for brands like IGA, Mitre 10, Foodland and more,  has today announced a new distribution centre (DC) planned for Truganina, Victoria alongside the release of its FY22 results detailing a rise in revenue and earnings.

    The approximately 115,000sqm DC will replace the company’s existing Laverton, Victoria facility and will cost Metcash around $70 million to set up, with $20 million scheduled to be incurred in FY23.

    Metcash, which signed a long-term lease with the Goodman Group (ASX: GMG) for the construction of the Truganina DC, says the facility will improve the competitiveness of its independent retailers in Victoria through delivery efficiencies and by providing them access to a wider range of products.

    The DC will house products for both MTS’ food and liquor pillars, and will be equipped with automation to suit the company’s retail network.

    “We are delighted to be able to announce this significant long term investment for our independent retailers in Victoria, which is a reflection of our continued focus on championing their success,” Metcash CEO Doug Jones said.

    “Supporting our decision to proceed was the success of our new DC at Gepps Cross in South Australia, which has been operational since December 2020, as well as strong growth in both our Food and Liquor pillars in Victoria and the recent renewal of a long term agreement to supply Foodworks stores.”

    The announcement coincides with the release of Metcash’s FY22 financial results, detailing an 18.6 per cent rise in underlying profit after tax to $299.6 million.

    In addition, earnings rose by 17.7 per cent to $472.3 million, while revenue grew by 5.9 per cent to $15.2 billion.

    On a statutory basis, MTS’ profit after tax was up by 2.7 per cent to $245.5 million which the company says was backed by strong sales and earnings in all divisions sustained by a shift in consumer behaviour.

    The large difference between underlying and statutory profit can be explained by $22 million for Project Horizon which includes refurbishing stores, expanding e-commerce and cutting costs, as well as $27.6 million in acquisition costs, primarily oriented towards the hardware division.

    Jones said he was pleased to present the FY22 results, his first as group CEO.

    “The results are outstanding, another record year, and represent continued progress on the exceptional performance in FY21,” Jones said.

    “The number of external challenges increased in the second half and our supply chain and retail operations, both our own and those of our retail partners, exhibited significant resilience and flexibility. There were more lockdowns due to the Omicron COVID variant, major supply chain challenges, flooding in South Australia, New South Wales and Queensland which resulted in supply route disruptions, and towards the end of the financial year challenges related to Russia’s invasion of Ukraine and lockdowns in China.

    “A strategic investment in inventory, the flexibility of our operations and the outstanding efforts of our people helped our retailers to keep their shelves stocked and continue serving their local communities through these challenges. A testament to our people and independent retailers is that our focus on keeping shelves stocked did not materially hinder the continued successful execution of our MFuture [growth project] initiatives.”

    Jones said the company’s retail networks in food, hardware and liquor performed well, with sales increasing approximately 3 per cent in the IGA retail network, 20.5 per cent across hardware (which includes Mitre 10, Home Hardware and Total Tools), and 8.7 per cent in the liquor network.

    “Importantly, retailers are increasingly reinvesting in their stores, further improving the quality of their network primarily through the various store upgrade programs we support,” Jones said.

    “We also further strengthened relationships with our independent retailers and were pleased to recently announce long term agreements to continue supplying Foodworks stores and Drakes Supermarkets in Queensland.”

    MTS says forward momentum going into FY23 has helped push group sales up 9 per cent in the first seven weeks of its new financial year commencing on 1 May, partly buoyed by the impact of inflation.

    “While elevated inflation has continued into 1H23, there is uncertainty over the level of inflation going forward, as well as how the impact of inflation and other cost of living increases may impact consumer behaviour in the retail networks of our pillars, and Metcash,” Metcash said.

    “We are continuing to work closely with our suppliers and retailers to help shoppers manage the impact of inflation by providing better value options through offering a wider range of products at competitive prices.”

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  • Samsung Australia fined $14 million over false water-resistance claims

    Samsung Australia fined $14 million over false water-resistance claims

    Samsung Australia admitted to misleading buyers of some of its ‘Galaxy’ phones about the water-resistance level, the Australian Competition & Consumer Commission (ACCC) said. The regulator had first sued the company in July 2019.

    Samsung Australia said in a statement that this was not an issue in its newer, current models.

    The regulator said between March 2016 and October 2018, the company ran in-store and social media advertisements that claimed the phones could be used in pools or sea water.

    The ACCC, however, received hundreds of complaints from users saying the smartphones did not function properly or even stopped working entirely after being exposed to water.

    The claims “promoted an important selling point for these Galaxy phones. Many consumers who purchased a Galaxy phone may have been exposed to the misleading ads before they made their decision to purchase a new phone,” said ACCC Chair Gina Cass-Gottlieb.

    Samsung and the ACCC agreed that changes the company had made to newer models of the smartphones launched in Australia from March 2018 did not face such risks from water exposure, the company said.

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  • Wine Australia shuts China office as exports slump

    Wine Australia shuts China office as exports slump

    Australian government-backed industry body Wine Australia said on Tuesday that it will shut its office in Shanghai, as Australian wine imports into the Chinese market continue to slump after Beijing levied hefty tariffs on the product.

    It was Wine Australia’s only office in China.

    “This decision follows extensive consultation with the Australian grape and wine sector and is based on the current environment and market opportunity,” a Wine Australia spokesperson said.

    “Wine Australia will continue to maintain our brand presence in China via our wine trade and consumer facing social media channels, and will continue to work closely with in-market trade representatives on brand building and marketing campaign.”

    China was Australia’s largest market for wine exports until the country in 2020 begun an anti-dumping probe into imports of Australian wine and imposed tariffs.

    The actions by Beijing came after its relations with Canberra had soured over issues such as Australia’s 2018 ban on Huawei Technologies from its 5G broadband network and Canberra’s call for an independent investigation into the origins of COVID-19.

    China also imposed tariffs on Australian commodities such as coal, beef and barley. Wine Australia last month said Australian wine exports to China in the year to March declined by $844 million due to the tariffs.

    In March, the World Trade Organisation (WTO) agreed to establish a dispute settlement panel after Australia said China’s anti-dumping duties of between 116.2 and 218.4 per cent were inconsistent with its obligations under the WTO Agreements.

  • Why mattress disruptor Koala is getting in bed with homewares

    Why mattress disruptor Koala is getting in bed with homewares

    After success with both its mattress and furniture ranges, Australian company Koala is now moving into homewares.

    Koala decided to add décor to its product staple to encourage consumers to consider more sustainable options. The homewares collection features 34 pieces, including cushions, throws and the first wool rug range in Australia to use certified responsible wool.

    Other sustainable materials used in the new products are 100 per cent organic cotton and recycled plastic bottles.

    These designs are all inspired by Australia’s flora and fauna, art, culture or lifestyle and designed in-house. This means the pieces feature neutral colours and earthy tones, as well as nature-inspired textures and patterns.

    Koala said years of research has gone into creating the range, which has been designed to stand the test of time.

    The homewares are also built to withstand our hectic and messy lives with the throws and cushions machine washable and the rugs easy to clean.

    “With homewares, we want to celebrate Koala’s uniqueness whilst doing something meaningful and timeless for the brand. We’ve created a real sense of something special you can’t get anywhere else, with all colours and material finishes inspired by the Australian landscape, from outback red dirt to beautiful coral reefs,” Alexandra Owen, Koala design director said.

    You can feel good about supporting the environment while refreshing your home with this rug. It is made from 100 per cent recycled bottles and is super soft to the touch. There are two sizes and four colours available, with each colour inspired by Australia’s native foliage.

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  • Costco to invest $150m in three new Victoria stores

    Costco to invest $150m in three new Victoria stores

    Costco plans to open three new stores in Melbourne and Geelong within the next two years, investing up to $150 million.

    CEO Patrick Noone told The Australian in an interview that potential sites were identified near Melbourne’s CBD, and at Officer and Geelong. Each store will be allocated $50 million, with the projects now depending on zoning and council approvals.

    “We are growing quite nicely, and Melbourne is a big city. For us, business isn’t slowing down in Melbourne,” said Noone.

    “Melbourne is a growth area and we’d like build there as soon as we get the approvals.”

    During the Covid lockdowns, Costco remained a ‘destination shop’ for Melbournians as members travelled long distances to shop at the store, buying in bulk when regulations allowed.

    Costco currently boasts 200,000 members and sells a mix of goods from fresh food, groceries, meat, consumer electronics, clothing, diamonds and even coffins.

    According to The Australian, Costco Australia’s sales in the year to August rose from $2.6 billion in 2020 to $2.8 billion last year. Strong online growth helped the company double its profit to $46.39 million.

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