JB Hi Fi has cranked up it’s relationship with WA Company ThinkSmart. The move comes as the consumer electronic stores reports record growth.
According to Business News in WA JB Hi-Fi and retail financial solutions provider ThinkSmart Ltd have cemented their relationship after ditching a termination by convenience clause from their operating agreement.<\/P>
The clause enabled termination by convenience after the initial 24 months, but since contracting in February this year, the businesses have expanded their relationship rapidly in Australia and across the Tasman.<\/P>
ThinkSmart’s product offering extended to JB Hi-Fi’s Clive Anthony’s stores and is due to roll out to its New Zealand stores by the end of the year.<\/P>
The roll out in Clive Anthony’s will extend ThinkSmart’s current reach in the group to 57 stores, with a further 21 stores to come online by early full year 2008, as JB Hi-Fi completes the introduction of computer categories across its branded stores.<\/P>
ThinkSmart managing director and chief executive Ned Montarello said the electronics retailer was making an impact into the computer retail space in Australia.<\/P>
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“We’ve already witnessed trading performance at the upper end of expectations together over our first six months of business and are looking forward to continuing to support JB’s aggressive growth in the market through our RentSmart product,” he said.<\/P>
JB Hi-Fi chief executive Richard Uechtritz said getting the right partners helped him concentrate on the day-to-day growth goals of the business.<\/P>
“ThinkSmart has been a great addition to our growth and provides a strong value proposition for both our customers and shareholders,” he said.<\/P>
“The show of confidence in extending the agreement reflects this.”
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