Two years after going public on the ASX, online retailer Kogan.com has ramped up expansion plans and launched Kogan Marketplace, where businesses and consumers have access to more than 100,000 products.
The launch of the Kogan Marketplace will give Kogan.com customers more choice and allow businesses to reach more customers through the Kogan.com platform, according to Kogan.com director of marketplace, Lazar Monin.
“The launch of Kogan Marketplace is a win-win-win for everyone. Retailers on the Kogan Marketplace Platform will get market-leading infrastructure and the ability to offer their goods to the Kogan Community. With today’s launch, there are now over 100,000 products available to purchase on Kogan.com – meaning customers have more choice than ever before,” Monin said in a statement.
Retailers have already signed up to participate, selling thousands of products through Kogan.com, with the number set to grow with today’s official launch of the Kogan Marketplace Platform, he added.
Brands like Microsoft, Breville, Lego, Fisher-Price, Paw Patrol, SodaStream, Gillette, Gucci and Philips are available to purchase through Kogan Marketplace.
“We’re obsessed with creating a great experience at Kogan.com for our customers and sellers alike,” Monin said.
Back in 2016, Kogan listed on the ASX through an initial public offering (IPO) that placed $168 million market value on the online retailer.
At the time, it lodged its prospectus with ASIC with an offering of $1.80 per share and planned to raise $50 million.
The company said it planned to use the raised funds for growth capital including investment in new products and categories as well as marketing. It aimed to tap into new verticals such as Kogan Travel and Kogan Mobile.
Earlier in 2016, the company purchased the Dick Smith online retail business. Kogan.com founder Ruslan Kogan said at the time he planned to keep the legacy of the Dick Smith brand and run it as an online-only consumer electronics retailer.
“We will invest in building and nurturing the Dick Smith community, and honour the great legacy of this Australian business.”