Angus & Coote

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Angus & Coote
Industry Retailing
Founded1895;129 years ago (1895)
Headquarters
Sydney, New South Wales, Australia
Products Jewellery
Parent James Pascoe Group Founder: Edmund James Coote
Website www.anguscoote.com.au

Angus & Coote is an Australian jewellery chain founded in Sydney in 1895 and listed on the ASX in 1952. [1] The retailer claims to be a leader in Australia for high quality jewellery, [2] with its 300 stores having a 20% market share as of early 2007. [3]

Contents

In March 2007, James Pascoe Group (JPG) completed a $A76m ($NZ87m) takeover bid [4] for the Angus & Coote chain, [3] including brands Amies in Queensland, Dunklings in Victoria and Edments in South Australia and Western Australia (all completely rebranded to Angus & Coote after November 2008) [2] and Goldmark. The Goldmark and Edments brands were part of Prouds The Jewellers, with Angus & Coote acquiring them in 1996 when JPG purchased the main Prouds brand. [3] At the time of the purchase, David Norman suggested one or more of newly acquired Angus & Coote brands could be launched in New Zealand. Goldmark is now included as a store-within-a-store at kiosks in selected Farmer stores.

The original owners of Angus & Coote, the Coote family, had owned the business for one hundred and twelve years before the sale, and became one of the most elite families in Australia, becoming a household name in Australia. The founder, Edmund James Coote with a net worth of $2B, passed the business down to his son Roy Rundle Coote. The business became extremely well-known and made it through international names. The last CEO from the family was Antony Edmund Rundle Coote, who expanded the business throughout the 70s-90s. They sold the company for $77M. [5]

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References

  1. Hendron, Joe (25 November 2006). "Big picture gives the best perspective". National Distribution Union. Archived from the original on 3 February 2014. Retrieved 28 April 2013.
  2. 1 2 "Angus & Coote: About Us". Archived from the original on 23 August 2013. Retrieved 18 August 2013.
  3. 1 2 3 Hendron, Joe (10 March 2007). "Pascoe's golden century". National Distribution Union. Archived from the original on 19 February 2014. Retrieved 28 April 2013.
  4. Hendron, Joe (20 December 2006). "Pascoe persists". National Distribution Union. Archived from the original on 3 February 2014. Retrieved 28 April 2013.
  5. Commission, Australian Competition and Consumer (16 January 2007). "James Pascoe Limited - proposed acquisition of Angus & Coote (Holdings) Limited". www.accc.gov.au.