Thanks industry for support.
Home Appliances founder, Theo Varvaressos has formally retired from the family business he established with his father, Harry and his brother, Michael in 1994. Home Appliances, parent company of Euromaid, (Eleica and Fagor), Baumatic, IAG, Lemair and Arc brands, was fully acquired by publicly listed company McPherson’s Limited in April 2015.
Speaking to Appliance Retailer, Varvaressos thanked all of the retailers for supporting the Euromaid brand for many years. “Harvey Norman, the exclusive built-in cooking retail partner of Euromaid, has promoted the brand extensively for over 15 years and was the catalyst of where Euromaid is today. We thank them and many more retailers Australia wide for their ongoing support.”
After working for Sydney retailer, John Finn Discounts for four years, Varvaressos joined his father Harry’s company, Lemair Australia, at age 22 as a sales representative, advancing to national product manager the following year.
“Over the next few years Lemair entered a poor diversification into locally manufactured and marketed Admiral Sportswear that ultimately brought them down. In 1988, we were taken over by Russian company Tecma, who were the major Lemair product supplier,” he said.
“Just over one year later, a national marketing agency, HTM & Sons (Harry the man and Sons) was born, on behalf of Lemair and other suppliers.”
“During my time as national product manager for Lemair, I developed close international supplier relationships and this is when EDA (Electrical Distributors Australia Pty Limited) was formed as an import marketing extension of the HTM and Sons agency business, and soon after was the beginning of the Euromaid brand. Home Appliances ultimately acquired the Lemair brand after Euromaid was sold to private equity firm, Anacacia Capital in 2009,” he explained.
“Three family members with minimal available cash were determined to make it work long term and fight the established brands. We soon learnt every time you fail, hit road blocks or get rejected, try harder never give up and you will ultimately secure your goal. My biggest influence was Lemair CEO, John Malyon, who taught me how to look ahead, cool down and listen to my retail partners and suppliers needs and wants. My close respect and relationship with Harvey Norman and Arcelik, was, and is, paramount for the continued success of the brand,” Varvaressos said.
“The Euromaid product offer ‘more for less’ to the consumer, and the new management of Home Appliances and owners (MCP) will continue to understand their retail partners needs and wants, allowing the brand will continue to grow and prosper to maintain the current top three cooking supplier unit volume Australian rating.
“Today HAPL is a well-oiled machine with great staff across all areas particularly the sales team, logistics administration and service that is vital to any business going forward,” he added.
Meanwhile, McPhersons managing director, Paul Maguire will retire from the company on 21 November, 2016. He will be succeeded by Laurie McAllister who brings 22 years of experience with Coca-Cola in senior roles operating across over 80 countries, based out of five countries in Europe and Asia-Pacific.
Most recently, he was managing director of Sanofi Australia and New Zealand, as well as serving on the Board of Medicines Australia for two years.
McPhersons Limited chairman, Graham Cubbin said, “Paul will leave McPhersons in a stronger position than when he started, having transformed the business materially. Following the de-merger of McPhersons Printing business, he successfully managed the acquisition of several businesses, including Home Appliances.”
“We welcome Laurie and are delighted to have been able to attract such a high calibre leader to take McPhersons through its next, exciting growth phase,” he added.