Shriro is exiting from direct sales and in-house distribution of seasonal products including BBQs, Robinhood, pizza ovens, cooling and heating, appointing Worldwide Appliances, in association with Eurolinx, as an Australian distributor.
“Without the contributions towards expenses from the exited Australian appliances business, Shriro has had to right size the costs of its seasonal products,” the company said in a statement to the Australian Securities Exchange (ASX).
“To do this, Shriro has developed a new strategy focusing on global sales, new product development and intellectual property, marketing to end consumers in each market and opportunities through distribution partners.
“Worldwide Appliances and Eurolinx specialise in importing quality kitchen, laundry and outdoor appliances for the domestic market of Australia with brands that have a rich heritage aimed at the high-end consumer market.
“In the US, Shriro’s focus will be to distribute in the key south-east market, primarily Florida, and to provide both an online and in-store offering. Shriro has entered a cooperative arrangement with Blaze Grills, owned by BBQ Guys, the number one online seller of premium grills in the US, to represent the Everdure brand in that market.”
In a trading update for FY24, Shriro highlighted subdued global demand for BBQs and other outdoor homeware products, which negatively impacted revenue of seasonal products. With new product releases expected in FY25 and FY26, Shriro forecasts growth in seasonal products over this period.