Farmers Trading Company

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Farmers Trading Company
Farmers
Company typePrivate
Industry Retail
Founded1909;115 years ago (1909)
Founder Robert Laidlaw
Headquarters
Flat Bush, Auckland
,
New Zealand
Number of locations
59
Area served
 New Zealand
Products Department store
OwnersAnne Norman and Family
Parent James Pascoe Group
Website farmers.co.nz

Farmers Trading Company Ltd (branded as Farmers) is a New Zealand mid-market department store chain. Headquartered in Flat Bush, Auckland, [1] Farmers operates 59 stores across New Zealand, [2] specialising in family fashion, beauty, homewares, furniture, large appliances and whiteware.

Contents

History

Early years

Farmers department store within Westfield Newmarket Farmers department store Newmarket NZ 2019.jpg
Farmers department store within Westfield Newmarket

Robert Laidlaw founded Laidlaw Leeds in 1909, which sold agricultural supplies through mail order catalogues, following a successful American model. In 1910, a group of Auckland members of the Farmers Union formed the Farmers Union Indenting and Trading Association. [3] The Clevedon branch, for instance, approved the formation of such an association at a meeting held in July 1910. [4] In 1916, the trading association was converted into the Farmers' Union Trading Co (Auckland) Ltd. [5]

In 1917, the Farmers' Union Trading Company approached Laidlaw Leeds with an offer to merge, which Laidlaw accepted; he became the managing director of the new venture, the Farmers' Trading Company. [6] The company soon expanded into retail and adopted the department store model. There had also been an unrelated, older Farmers Department Store in Sydney, Australia.

From mail order to stores

The centre of operations was a high-rise warehouse and office complex in Auckland's Hobson Street. In 1920 a retail space was opened to the public in the building. The co-op also bought many local stores in the Auckland province in 1920, [7] by which time it had 32 stores, and offered preference shares to urban members. [8]

In the 1930s a large wing was built onto the older 1914 building which included the Harbour View Tea Rooms. The architect involved, R. A. Lippencott, also gave the enlarged building a new facade in the new modern Art-Deco style. Hobson Street was not a very good position for a department store, so copying similar arrangements by stores in American cities, Laidlaw arranged for a free bus to shuttle people from Queen Street to the Hobson Street store. This was later augmented by a free tram to Karangahape Road. [9] [10]

Cosmetics at Farmers Lambton Quay JPG Farmers Lambton cosmetics right side 2015.JPG
Cosmetics at Farmers Lambton Quay

Over successive years the adjacent sites were covered with warehouses and administration blocks for the growing business. Laidlaw, a teetotaler, made a point of buying the pub directly next door, The Grosvenor, and turning it into offices.

As well as the store's rooftop playground and tearooms, Farmers was also noted for its high-rise parking building connected to the shop by an elevated skyway. Like many buildings from the 1920s onwards, it had electric lifts which multiplied in number as the building grew in size.[ citation needed ] The store also boasted the first escalators in Auckland which were opened in 1955 by the Mayor of Auckland City, Mr. J H Luxford and his wife. The Mayor cut the ribbon and the official party travelled up the escalators followed by a crowd of curious Aucklanders, along with the store's mascot Hector the parrot. The eight banks of escalators were the largest installation in the Southern Hemisphere. [11] [ better source needed ]

South Island expansion

Farmers acquired Calder Mackay department stores a chain of department stores based in Christchurch but with locations all around the South Island in 1970 and became the largest chain of department stores in New Zealand. [12] [13] [14]

In 1982 Bunting & Co. bought the South Island Farmers-Haywrights chain and Farmers purchased 13 stores from the chain for $12 Million, with this the store count was brought to 80. [15]

Changes of ownership

In 1986, Farmers was taken over by New Zealand property development company Chase Corporation. Following Chase's collapse, Farmers was sold to the New Zealand discount chain DEKA in 1992, owned by the Maori Development Corporation and Australian supermarket chain Foodland. The company became Farmers Deka Ltd. [16]

The company grew from one store during the 1910s to 56 by 1990. The DEKA chain closed in July 2001 after financial difficulty in competing with The Warehouse discount stores. Farmers Deka Ltd was then renamed Farmers Holdings Ltd. [17]

After the Auckland flagship store closed in 1991, it stood empty for several years before it was converted into an upscale hotel which opened in 1998. [18] Currently, most Farmers stores are anchor stores in shopping malls, with some larger stores in the suburbs.

The historic flagship store in the Auckland CBD, now a hotel Farmers Department Store Central Auckland.jpg
The historic flagship store in the Auckland CBD, now a hotel

In 2003 Farmers was purchased by James Pascoe Ltd, bringing it back to New Zealand ownership. [16]

Other issues

Farmers closed its Queen Street, Auckland, store in rented premises in 2014 after ending a long-term lease. [19] In November 2015, the company opened a new store located on the corner of Queen and Victoria Streets, formerly occupied by stationery retailer Whitcoulls, renovating it as a three-level Farmers department store. [20]

In 2021 there were calls for Farmers and its parent the James Pascoe Group to repay the money it took from the COVID-19 wage subsidies programme of which Farmers claimed over NZ$28 million for its over 3700 staff. [21] [22]

Farmers has traditionally been a middle-market retailer, on par with Sears or JC Penney in the United States. With the development of The Warehouse (a Walmart type store), Farmers decided to become a more fashionable shopping destination, ranging an increasing amount of branded products. Where Farmers once would have faced competition from The Warehouse (nationwide) and various small chain stores, they have established themselves well apart from this discount retailer. Farmers still face competition from remaining department stores Ballantynes, David Jones and Smith & Caughey's, none of which are nationwide.

Departments

Farmers departments include womenswear, beauty, including serviced cosmetics, fine fragrance, health & beauty and sunglasses; lingerie, including sleepwear; menswear including mercery; accessories, footwear, and luggage; home, including kitchenware, tableware, giftware and laundry; manchester including bathroomware; small appliances; children's including childrenswear, nursery, and toys; furniture; with electronics and large appliances/whiteware in selected stores. Christmas Shop and confectionery appear October–December. Fellow James Pascoe Group companies Goldmark and Stevens also have store-within-a-store outlets within selected Farmers stores.

Since the 2003 purchase by the James Pascoe Group, the chain has focussed on the lucrative fashion apparel and beauty categories. Unprofitable and loss-making departments such as hardware and computers were discontinued.[ citation needed ]

Ownership

Farmers is privately owned by the James Pascoe Group, in turn owned by Anne Norman and family. James Pascoe Ltd and Fisher & Paykel Finance bought Farmers on 6 November 2003 from Foodlands Associates for NZ$311 million. [23] The business was split into the retail and finance arms with James Pascoe holding the retail arm and Fisher & Paykel Finance the finance arm which includes the Farmers Finance Card.[ citation needed ]

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References

  1. ↑ "Contact Us". Farmers. Retrieved 28 January 2009.
  2. ↑ " "About Farmers". Farmers. Retrieved 30 March 2018.
  3. ↑ "FARMERS' BIG FORWARD. MOVEMENT. NEW ZEALAND HERALD". paperspast.natlib.govt.nz. 18 December 1918. Retrieved 4 January 2019.
  4. ↑ "N.Z. FARMERS' UNION. AUCKLAND STAR". paperspast.natlib.govt.nz. 18 July 1910. Retrieved 4 January 2019.
  5. ↑ "REMARKABLE SUCCESS OF CO-OPERATIVE TRADING. NEW ZEALAND HERALD". paperspast.natlib.govt.nz. 17 December 1920. Retrieved 4 January 2019.
  6. ↑ "Heritage Auckland:A Classic History" . Retrieved 12 April 2021.
  7. ↑ "AUDITOR'S STATEMENT, NORTHERN ADVOCATE". paperspast.natlib.govt.nz. 10 September 1920. Retrieved 4 January 2019.
  8. ↑ "Page 7 Advertisements Column 1 NEW ZEALAND HERALD". paperspast.natlib.govt.nz. 9 October 1920. Retrieved 4 January 2019.
  9. ↑ "Farmers free tram (4th of 4)".
  10. ↑ "Farmers free bus".
  11. ↑ New Zealand Film Archive ref F49681
  12. ↑ "New force in South Island retailing". paperspast.natlib.govt.nz. Retrieved 19 May 2023.
  13. ↑ "Friendly store serves out a century". Stuff. 5 October 2009. Retrieved 19 May 2023.
  14. ↑ "Calder Mackay's Sold To N.I. Company". The Press . Vol. 110, no. 32, 346. Christchurch, New Zealand. 11 July 1970. p. 1.
  15. ↑ Hunter, Ian (2009). Farmers: Your Store for 100 Years. Harper Collins New Zealand. ISBN   9781869507633.
  16. 1 2 "Farmers celebrates a century". Stuff. Retrieved 2 December 2023.
  17. ↑ "Company overview Farmers Holdings Ltd". BusinessWeek Investing. Archived from the original on 19 May 2011. Retrieved 28 April 2018.
  18. ↑ "HERITAGE AUCKLAND A CLASSIC HISTORY". Heritage Auckland. Retrieved 2 December 2023.
  19. ↑ "Farmers returns to Auckland's Queen Street, Whitcoulls departs". Stuff.co.nz. 1 May 2015. Retrieved 29 January 2017.
  20. ↑ "Farmers returns to Queen Street with $5m makeover". Stuff.co.nz. 12 November 2015. Retrieved 29 January 2017.
  21. ↑ "Farmers' owner took $35 million wage subsidy". NZ Herald. 30 July 2023. Retrieved 30 July 2023.
  22. ↑ Morrison, Tina (2 February 2021). "Farmers department store must step up and pay workers the living wage, Union says". Stuff. Retrieved 30 July 2023.
  23. ↑ "Brian Gaynor: Farmers deal sweet for Fisher & Paykel". NZ Herald. 30 July 2023. Retrieved 30 July 2023.
  24. ↑ Fallow, Michael (25 June 2022). "Downtown Invercargill had a bit going on 20 years ago too". The Southland Times. Stuff.
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