A marketing campaign by Kogan.com that the Federal Court declaring “false and misleading” has cost the online retailer $350,000 as well as legal costs. Competition regulator the ACCC launched legal action against Kogan.com last year over the 2018 “tax time savings” alleging that the company increased prices on 621 products, in most cases by at… Read more »
Kogan.com’s co-founders just scored a $75 million windfall as shareholders revolt against executive pay
Ruslan Kogan, CEO of Kogan.com, and his co-founder and CFO David Shafer have scored $75 million windfall after shareholders voted narrowly in favour of granting the duo 6 million share options at a fraction of the current share price. At today’s AGM, the deal, struck in May at an options share price of $5.29, was… Read more »
Kogan.com co-founders Ruslan Kogan and CFO David Shafer a selling a 6.9% stake in the business as the company’s share price soars to record highs following its FY20 results this week. In a note to the ASX this morning, the company (ASX: KGN) said the duo are selling 7.3 million shares. Kogan shares hit $22.99… Read more »
Kogan.com sales and profits are up 40% in a covid boom, but its shares are down after missing expectations
Gross sales of $768.9 million, up 39.3% on FY19 Revenue of $497.9 million, up 13.5% Gross profit of $126.5 million, up 39.6% Adjusted EBITDA of $49.7 million, up 57.6% NPAT of $26.8 million, up 55.9% Active Customer base of 2,183,000, up 35.7% Fully franked final dividend of 13.5 cents per share, up 64.6% Final dividend… Read more »
Advertising for end of financial year discounts by online retailer Kogan Australia Pty Ltd (Kogan) was false and misleading, in breach of Australian Consumer Law, the Federal Court has found. Consumer watchdog the ACCC, launched legal action against Kogan in May last year over the advertising campaign, which ran online between June 27-30, 2018, which… Read more »
Kogan.com just had its best Christmas trading, but its shares are getting smashed as profit growth slows
• Gross sales grew by more than 16% • Gross profit grew by more than 9% • Operating costs declined marginally • Cash at period end was $34.1 million Kogan.com Ltd (ASX: KGN) has defied tough retail conditions to post a record half-yearly result helped by its best-ever Black Friday and Boxing Day trading… Read more »
The Kogan.com promotion the ACCC alleges was misleading. Internet entrepreneur Ruslan Kogan’s online retail empire has fallen foul of consumer watchdog the ACCC (Australian Competition and Consumer Commission), which is suing the business over false or misleading conduct claims, alleging Kogan increased prices ahead of a discount sale. The ACCC has launched Federal Court action… Read more »
Catch Group has announced today its acquisition of troubled trans-Tasman childrenswear retailer Pumpkin Patch, with its focus on reviving the brand online.
After much speculation, online electronics retailer Kogan has today announced its Initial Public Offering, with new shares to released at an offer price of $1.80 per share as it looks to raise $50 million. The funds will be used for growth capital, with investment in new products and categories and marketing.
Online retailer Kogan has acquired the intellectual property of Dick Smith for an undisclosed sum from Ferrier Hodgson, the troubled company’s receivers and managers. Kogan will operate Dick Smith as an online channel to its own from 1 June 2016.
Last week I wrote about two new startups which allow users to buy groceries online and have them delivered in just two hours by a personal shopper. The Australian grocery space is evidently the cool place to be, because online retailer Kogan has now launched a grocery division called Kogan Pantry.
If you’re seeking funding for your startup AND you’re a hardcore footy fan, Kogan’s latest competition (slash marketing campaign) may be of interest. The ecommerce giant is giving away $1 million dollars in cold, hard cash to anyone who correctly predicts the results of the 2014 FIFA World Cup.
One of Australia’s most successful ecommerce stores Kogan is now offering the ‘Entrepreneur Startup Kit’ to help budding entrepreneurs with the practicalities of starting a business.
Kogan.com today announced that, following the collapse of electronics warranty provider U-NITED Warranties, Kogan will offer assistance to thousands of Australian consumers caught by the fallout.