Kogan confirms record Christmas trade

Despite revenue drop for global brands.

Kogan has experienced the best Christmas trading period in business history with Black Friday and Boxing Day producing record days.

“Our customer-centric approach saw us deliver more items than ever, faster than ever,” founder and CEO, Ruslan Kogan said. “The investments we have made in a nationwide logistics footprint enabled us to delight customers all over Australia with rapid delivery, along with the great value they have come to expect from Kogan.com.”

Total revenue growth was 9.7% with exclusive brands revenue growth accelerating in the latter part of 1HFY19.

Global brands revenue decreased during the half by 46.7% driven by changes in the GST law and apparent avoidance of GST by foreign websites selling into Australia. It was also significantly impacted by subdued demand for new Apple products, which resulted in a reduction in sales.

Excluding Apple, global brands product revenue (Samsung, Google, Xiaomi, Garmin and more) grew by 8.5%.

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