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Masters Home Improvement was an Australian home improvement chain operated by two retailers; Woolworths [2] and Lowe's. It was established as a way for Woolworths to enter the hardware retail market, which has been historically dominated by Bunnings , owned by their competitor Wesfarmers .
- 2009
- 2010
- 2011
- 2012
- 2013
Masters began as something called 'Project Oxygen', supposedly because their new venture was going to steal the oxygen from the other hardware players in the market. The earliest reference to 'oxygen' regarding Woolworths is in their 2009 annual report, under the list of subsidiaries there is 'Oxygen Nominees Pty Ltd'. The first mention of hardware...
In 2010, there wasn't a lot of interesting news concerning Masters, or more likely it was still 'Oxygen' at this point. Woolworths' annual report doesn't mention Masters although it doesn't mention 'Oxygen' in a project sense either. The 2010 annual report does mention that Woolworths have completed their acquisition of "Danks Holdings Limited, Aus...
In an AFR article dated 2 May 2011 it states that "The Masters chain will compete not only with market leader Bunnings and Metcash’s Mitre 10 but a range of homewares, appliance and specialist retailers such as Harvey Norman, The Good Guys, Reece, Tradelink and Ikea." This article is perhaps one of the better articles because it's written beforethe...
In just Master's second year of operation there was already an article talking about its layout and marketing demographic. A Smart Company article from September 2012 cited a report from Madison Cross (a retail consultancy company) that Masters was "using a model that is suited towards female buyers, giving off a 'premium' vibe with polished [concr...
In 2013, according to Roy Morgan researchin the September quarter Bunnings had 84.2 million purchases in the past 12 months, with Mitre 10 14.6 million and Masters not quite half that at 6.6 million. According to the article "Around two-thirds of Bunnings’ customers visited (and bought) from the store four or more times during the year—including ar...
Jan 25, 2016 · The retailer announced to the Australian Stock Exchange that it would ‘exit’ Masters Home Improvement and Home Timber & Hardware (also purchased by Woolworths) by either selling the business or winding it up.
Feb 19, 2016 · Woolworths Limited (Woolworths) today announced David Walker has been appointed to the role of Managing Director Home Improvement, replacing Matt Tyson who is leaving the business to return to the UK.
Jan 23, 2016 · “There’s no equilibrium in the DIY market because of Bunnings’ massive share,” said Mr Dahlsen, who owns Australia’s largest independent trade hardware chain, Dahlsens.
- Olivia Lambert
Apr 4, 2024 · Its push into hardware involved a joint venture with US home improvement retailer Lowe’s, their joint acquisition of local independent hardware wholesaler Danks, and the launch of a new network of Masters stores, with the first opening in Braybrook, Victoria, in August 2011.
Dec 30, 2016 · Lowe’s partner in the business, Woolworths Limited, oversaw liquidation of the Masters Home Improvement assets. Additionally, the company announced that all stores would cease operating after Dec. 11.
