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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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What the investment community thinks Kiwi businesses lead on the world stage with

  • News
  • July 16, 2019
  • Idealog
What the investment community thinks Kiwi businesses lead on the world stage with

Every business goes through a life cycle: start-up, growth, maturity and renewal, rebirth or decline. Once you’ve made it past the juicy, creative ideation stage and into the growth and maturity stage, the time for many comes to seek investment. But what do investors look for beyond a commercial return? And what do investors think New Zealand companies excel at when compared to our neighbouring countries around the world? Executive director of the Angel Association of New Zealand Suse Reynolds shares her top tips for those who are looking for investment.

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Foodstuffs’ Baden Ngan Kee has passed away

  • Who's Where
  • July 16, 2019
  • The Register team
Foodstuffs’ Baden Ngan Kee has passed away

Foodstuffs has announced that its former executive Baden Ngan Kee has passed away after a battle with lung cancer.

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2 Cheap Cars fined $438,000 under the Fair Trading Act

  • News
  • July 14, 2019
  • The Register team
2 Cheap Cars fined $438,000 under the Fair Trading Act

Used car dealer 2 Cheap Cars has been fined $438,000 for its use of “warranty waiver” documents and marketing statements described as “deliberately misleading”.

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Social scoreboard

Zavy and The Register have worked together to create a scoreboard that compares how the top 25 traditional media advertising spenders in New Zealand have performed on social media over the past 30 days, updated in real time.

 
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Retail's new best friend

  • In association with the IHA Global Innovation Awards (GIA)
  • July 13, 2019
  • Anne Kong
Retail's new best friend

As the heart and soul of retailing further evolves, stores and the essence of shopping will continue to morph in unimaginable ways. However, amidst the storm of change, there is one aspect of shopping that remains pure, constant and motivational – the aspirational moment. Anne Kong, member of the GIA expert jury, shares her thoughts.

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Bendon looks to sell brands after financing falters

  • News
  • July 12, 2019
  • Radio New Zealand
Bendon looks to sell brands after financing falters

Bendon lingerie is looking to sell some of its brands as the future of the company becomes more uncertain.

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Smirnoff Pure helps Kiwis discover local artists with Spotify partnership

  • News
  • July 11, 2019
  • Caitlin Salter
Smirnoff Pure helps Kiwis discover local artists with Spotify partnership

The music we love is made up of many influences, including where we live. In its latest campaign, Smirnoff Pure and YoungShand tapped into the unique vibes of New Zealand and set out to help Kiwis discover the music that moves the cities and suburbs they call home.

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