That means they can sell at a really low cost. Smith is appreciative of the support from supermarkets such as Coles and Woolworths, which have kept the Dick Smith Foods brands on shelves. He says the supplier will have 12 months to gradually change their processes. Will these goods, just like your peanut butter, come from countries like Argentina where wages are extremely low? The money they take from Australian businesses in the future will be staggering. He also defended the number of employees Aldi Australia has, saying the company employes around 11, workers, and engages with more than 1, local suppliers.
Dick Smith Holdings Limited formerly Dick Smith , Dick Smith Electronics or DSE was an Australian chain of retail stores that sold consumer electronics goods, hobbyist electronic components, and electronic project kits. The chain expanded successfully into New Zealand and unsuccessfully into several other countries. The company closed in , four years after its acquisition by Anchorage Capital Partners. Initially, the business focused on installing and servicing car radios.
Updated July 27, A leading retail analyst says Dick Smith's food business was "bound to fail" as consumers continue to choose what is best for their wallets, and should act as a warning sign to other local food suppliers. Peter Ryan, who has been working as an analyst in the retail sector for almost 40 years, said Dick Smith's announcement that he would shut down his food business was "no surprise".
Updated July 26, Australian businessman Dick Smith has blamed Aldi's "extreme capitalism" for the demise of his food business which he says is closing in order to avoid bankruptcy. Dick Smith Foods, which has 13 products including a range of spreads, tomato sauce, and cereal, will be phased out over the coming months. The entrepreneur's voice shook with emotion and he fought back tears during a media event in Sydney. Mr Smith, the Australian of the Year, released a five-page email as part of the event in which he thanked industry heavyweights for their two decades of support.