29 January 2008
Posted in NZ
In a fairly standard announcement required to NZX, Renaissance today revealed the ever-evolving relationship between themselves and Apple. Most notably, the announcement indicates the ability for some retailers to now be able to "multi source" - meaning that larger companies may be able to source stock from either Renaissance or Apple directly. This is quite common in other countries and begins immediately within New Zealand.
Part of the statement (that you can read in full on the NZX website) reads...
"There are also further changes being introduced to our distribution margin structure and these will be phased in between now and 1 October 2008.
Renaissance has today signed a new contract with Apple reflecting this new structure.
These changes will bring the New Zealand distribution structure for Apple product broadly in line with those prevailing in Australia and other countries.
While the timing and quantum of these changes are not easy to predict, we expect the sales volume and profit achieved by Renaissance from our Apple distribution business will fall. We expect the full impact on the Apple distribution business will be spread over 2008 and 2009. "
On a more positive note, the announcement continues...
"In 2007 we made two acquisitions - MagnumMac and Natcoll. These companies have traded well and we are looking to expand both businesses in 2008.
We opened our first new MagnumMac store in Albany in November 2007 and will continue to open new stores as suitable locations are secured.
We also see prospects for domestic and international growth in our education activities, and regard Natcoll as being key to our aspirations in the sector. "