Narta chairman Kay Spencer delivered a heartfelt speech to open Narta’s 60th anniversary conference with several references to the people who have been responsible for the growth of the $7 billion buying group.
Spencer acknowledged that it was a special occasion to celebrate the 60th anniversary of Narta, but also recognised the commitment made by retailers and suppliers to attend the conference.
“Times are difficult at home and we know that you have sacrificed and prioritised time to be here, so on behalf of Narta we thank you for doing that,” she said.
“For six decades, Narta has been a key part of the industry and we are proud to stand as the longest operating retail services group in the consumer electronics market.
“60 years is a long journey, and this achievement is testament to the dedication and the tenacity to the remarkable people that have shaped Narta to where it is today.”
Narta was a breakaway group that was created from Retravision and several of the early members were recognised by Spencer during her presentation including e&s that was recently acquired by JB Hi-Fi and remains as the longest standing member of the group.
Spencer recognised the contribution from Rob Sinclair and his father Bob Sinclair and the entire e&s business. JB Hi-Fi themselves joined the Narta group 25 years ago following an introduction made by Frank Garonzi when the fledging retailer had just two stores.
“The JB Group has grown significantly with key milestones that include the strategic acquisition of Clive Anthonys, expansion into the NZ market, strategic acquisition of The Good Guys and the majority shareholding of e&s trading – today it is recognised for integrity, loyalty and stands as Australia’s largest electronics retailer and is globally recognised by its peers for best practice,” Spencer said.
Also referenced were the “tough times” when large members of the group went into liquidation including Clive Peeters, Wow Sight & Sound, Allens and Kambos.
Special recognition was given to the Bing Lee business represented at the conference by Lionel Lee and his wife Lisa and their four children as well as Lionel’s mother Yenda Lee.
“Joining Narta 30 years ago when the geographic distribution of Retravision actually restricted Ken Lee from growing in the market, Bing Lee remained steadfast then as it does now – Ken’s legacy lives on through Lionel and Lisa’s children who are now fourth generation in the business and Ken would be immensely proud of you all – and especially you the industry’s matriarch Yenda Lee.”
One of the pivotal inflexion points for the Narta group came in the early 2000s when the collapse of the Betta Electrical (BSL) business and Retravision business saw these previous competitors become members of the Narta group under different ownership structures.
“As with all industries – rationalisation has been inevitable and in the late 1990s and early 2000s there were three major buying groups – who controlled over 50 per cent of the industry and were about to merge into one. The catalyst was Betta Stores when they went into receivership and were rescued by a loyal group of Queensland retailers and in 2006, Betta Stores joined Narta and since then has almost tripled in size.”
Spencer recognised the contribution from former LG general manager Graeme Cunningham who then transitioned to become the CEO of Betta Stores Retail.
“Rationalisation did not stop there. The mighty Retravision that was once up to 40 per cent of the market was facing receivership and this was when David Dorsett-Lynn stepped up with a bold and unselfish plan that we should merge and that Narta should acquire the Retravision name. This took courage because we had always been fierce competitors – but the goal was clear – to preserve the Retravision name and preserve the regional retailers. Today Retravision flourishes under Dorsett Retail and David and Paula’s daughter is a fourth-generation leader who joins us today.”
Spencer also recognised other members of the group for their contribution over many years.
“Narta’s longevity and growth would not be possible without all of our members including Peter Tsoutouras and the team from Spartan, our camera specialists and the department stores as well as the Bi-Rite team that is a second generation family business that stands out with collaboration, innovation and their back-end systems that are fully integrated into Narta.
“Last and certainly not least are our New Zealand retailers. Narta entered into the kiwi market at the request of JB Hi-Fi and then Appliance Connexion under Peter Drummond joined 18 years ago.
“To our supplier partners, we fully recognise how important you are to our business and we don’t under-estimate the challenges you are facing at the moment – our aim is simple – to support you by adding value and to eliminate duplication and we are committed to working with you to achieve our joint business plans.
“Narta today under the guidance of the board has evolved from a very traditional buying group to the leading retailing services group in the global consumer electronics market focused on driving savings, improving profitability and creating opportunities while we eliminate duplication.
“But what makes Narta different – is it is owned by you the shareholders and not an unknown and obscure shareholder. When the team go in every morning they know who they work for and they take this responsibility seriously and they understand the challenges that the members face and Michael and Darren after over 22 years need to balance members’ needs and suppliers’ expectations – it is a constant juggling act, but their dedication has played a big part in shaping Narta to where it is today.
“Looking ahead, while we honour the past, we must look to the future and the future is simple – it is you our valued members in this room – without you we do not have Narta. You have inherited a legacy of 60 years that has been built on collaboration and trust – and now the future of Narta and the next decade lies with the people in this room.”
“The 60th anniversary is symbolised by a diamond – that is formed under immense pressure and like a diamond Narta has been formed by challenges strength and adversity. Every facet of a diamond tells a story and every facet of Narta’s journey tells a story. It is a reflection of the extraordinary people that have brought us to where we are today and like a treasured family heirloom – the next decade of Narta is entrusted to you. I would like to thank you all for the opportunity to be here – it has been an absolute privilege.”