Milan Direct

Last updated

Milan Direct
IndustryOnline Retail
FoundersDean Ramler
Headquarters
Australia
Areas served
ProductsHousewares
Owner Temple & Webster
Website Milan Direct

Milan Direct was an Australian-based furniture company [1] that is now sold as a private label under the Temple & Webster brand. [2] The company was founded in 2006 [3] and operates primarily through an online marketplace. [4] [5]

Contents

Milan Direct was bought by online retailer Temple & Webster in 2015 for $20 million, [6] [7] [8] and is traded under TPW on the ASX. [9]

Overview

Milan Direct was founded in 2006 by Ruslan Kogan and Dean Ramler. Previously, Kogan had launched an online electronics retail business, [10] and Ramler's family has had a history of furniture design and production. [11] The company sells both modern and retro furniture [3] [12] and uses a direct to consumer distribution method. [3]

By 2010, the company had a revenue of $5.3 million and was named to the BRW Fast Starters list. [13] In 2011, Milan Direct generated $6.7 million in revenue and $12.6 million in 2012. [14]

Acquisition

In November 2015, Temple & Webster acquired Milan Direct ahead of its IPO. [7] [8] [15] In 2016, Milan Direct opened its first brick and mortar retail location in Richmond, Victoria. [16] [17] In December 2016, Temple & Webster absorbed Milan Direct, shut down its website and began selling its products from the Temple & Webster website as a private collection. [18]

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References

  1. ↑ Bailey, Michael (2 March 2014). "The Factory put Freedom Stickers on our Stuff: Milan Direct CEO Dean Ramler Says Selling Furniture as Much About Data as Design". Business Review Weekly. Retrieved 13 January 2016.
  2. ↑ Kimmorley, Sarah (14 December 2016). "Temple and Webster and Milan Direct are Merging". Business Insider Australia. Archived from the original on 14 December 2016. Retrieved 24 January 2017.
  3. 1 2 3 Bishop, Jen (12 March 2010). "Furniture Entrepreneur Grows Online Business". Dynamic Business. Retrieved 13 January 2016.
  4. ↑ Redrup, Yolanda (23 August 2013). "50 Years of Furniture: How Dean Ramler Created Australia's Leading Online Furniture Store Milan Direct". Smart Company. Archived from the original on 24 September 2015. Retrieved 13 January 2016.
  5. ↑ Carmody, Broede (31 March 2016). "Why Milan Direct Has Opened a Bricks-and-Mortar Store After 10 Years as an Online-Only Retailer". SmartCompany. Retrieved 21 April 2016.
  6. ↑ Carmody, Broede (13 November 2015). "Temple & Webster to Acquire Milan Direct and List on the ASX Next Month in a $60 Million IPO". Smart Company. Retrieved 13 January 2016.
  7. 1 2 Mitchell, Sue (13 November 2015). "Temple & Webster Acquires Milan Direct Ahead of IPO". Sydney Morning Herald. Retrieved 13 January 2016.
  8. 1 2 Thumm, Julian (13 November 2015). "Temple & Webster Acquires Milan Direct, Prepares for IPO". Power Retail. Retrieved 13 January 2016.
  9. ↑ "Temple and Webster Group LTD". EODdata. Retrieved 13 January 2016.
  10. ↑ Bishop, Jen (17 July 2010). "Ruslan Kogan:Young, Rich and Growing Two Businesses Fast". Dynamic Business. Retrieved 13 January 2016.
  11. ↑ Kidman, Angus (19 June 2015). "How I succeeded:Milan Direct's Dean Ramler". Life Hacker. Retrieved 13 January 2016.
  12. ↑ Keighran, Mandi (27 July 2012). "KnockIt Off". Sydney Morning Herald. Retrieved 13 January 2016.
  13. ↑ D'Angelo Fisher, Leo (31 March 2011). "Familiar Product, Novel Marketing". BRW. Retrieved 13 January 2016.
  14. ↑ Khadem, Nassim (20 August 2013). "Milan Direct on Track to Reach $15M Revenue As it Eyes Asia For Growth". BRW. Retrieved 13 January 2016.
  15. ↑ Thompson, Sarah; Macdonald, Anthony; Moullakis, Joey (6 November 2015). "Temple & Webster IPO Closes Over-Subscribed". Financial Review. Retrieved 13 January 2016.
  16. ↑ Thumm, Julian (31 March 2016). "Milan Direct Launches Pop-up Store". Power Retail. Retrieved 21 April 2016.
  17. ↑ "Milan Direct Opens First Melbourne Location". Internet Retailing. 31 March 2016. Retrieved 16 August 2016.
  18. ↑ Low, Catie (13 December 2016). "Temple & Webster Swallows Milan Direct". The Sydney Morning Herald. Retrieved 24 January 2017.
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