Company Profile - JB Hi-Fi
Parent Company: JB Hi-Fi Limited
Brand Value: $501 Mil.
Headquarter City: Melbourne
Year Formed: 1974
JB Hi-Fi (JB), started in 1974 as a single store, was acquired in 1983 and over the next 17 years expanded to a chain of 10 stores generating over AU$150 million by 2000. Initially dedicated to selling Hi-Fi equipment and vinyl music with the decline of vinyl and the emergence of CD’s, it was the first company in Australia to dump old records and move exclusively to the new CD format. JB’s innovative retailing strategy matching a cluttered retail floor with highly educated and trained personnel succeeded and after JB went public in 2003, the company diversified its product offerings into a broad range of electronics, including TV’s, audio, gaming systems, cameras, musical equipment, and is the exclusive retailer for Dell in Australia. Today, JB Hi-Fi has 184 stores in Australia and another 15 in New Zealand. In 2016, JB successfully acquired The Good Guys warehouses making JB the largest electronics retailer in the country.