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A challenger appears: Homegrown furniture giant Nido to compete with Ikea

  • News
  • January 21, 2019
  • The Register team
A challenger appears: Homegrown furniture giant Nido to compete with Ikea

Within a few weeks of confirmation that Ikea will come to New Zealand comes the announcement that New Zealand’s largest-ever retailer is set to open in Auckland. This new mega-retailer is nothing to do with Ikea, however: it’s a homegrown furniture and homewares concept store called Nido.

Construction began on the new concept store, Nido, in October 2018. The mammoth showroom will span 27,000 square metres on a 31,000 square-metre site at 158 Central Park Dr, Henderson, and will cost around $60 million. 

It’s expected to be significantly larger than any other single-store retailer in New Zealand. 

The project is about 10 percent complete right now, and when finished, it will carry 10,000 product lines from 80 exclusive brands. More than 100 display rooms will be continuously updated.

Nido is anticipated to open sometime in the coming spring, with online shopping to launch earlier. The online store will partner with a logistics supplier to provide nationwide distribution.

Nido is the brainchild of senior retailer Vinod Kumar, who was instrumental in the development of the Mitre 10 Mega concept. Kumar’s company Magsons Hardware has been involved with Mitre 10 since 1989.

Against the background of Ikea’s arrival, Kumar is keen to point out Nido will be 100 percent New Zealand owned. It will employ 200 locals. 

“Nido will been funded through commercial property investment Maat Group by dozens of local investors from around the country who believe the market is ready for a new retail concept.”

He says its scale and style is the result of nine years of research into international retail models, and will be unlike anything most Kiwis have encountered before.

“Carrying thousands of mainly European and US products, Nido will cater for the wide range of budgets and tastes across the local market. Kiwi shoppers will be able to access the latest products, technology and global design trends.

“At 27,000 square metres this will be largest retail operation in the country and for those outside of Auckland, we will offer online shopping functionality through our website,” says Kumar.

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Sharesies investment platform joins the NZX

  • News
  • June 25, 2019
  • Courtney Devereux
Sharesies investment platform joins the NZX

Investment growth platform Sharesies has had a busy year in 2019, becoming B Corp certified earlier in April, and now has become an NZX participant starting this July.

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  • News
  • June 24, 2019
  • Emily Bell
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