By James Wells
CANBERRA: High profile Narta member, Bing Lee, has announced it has acquired its second store in Canberra after taking over the 1,200 square metre Retravision Belconnen store which will be re-branded and re-opened within four weeks.
Bing Lee general manager, Phil Moujeas, told Current.com.au that after acquiring the store today, a quick re-fit of the store will be conducted with an official opening expected before the end of November.
Moujeas said he intends to retain all existing Retravision staff at the store.
According to Moujaes, the opening of the new store will allow the company to strengthen its position as a major electrical retailer in a new market.
“Already in Sydney, Bing Lee is famous for our expansive product range, leading supplier brands and the fact that everything in-store is negotiable on price. Our new store in Belconnen will give Bing Lee a second store in the Canberra region alongside our Fyshwick outlet which opened in 2004,” Moujaes said.
“Canberra is a relatively new market for the Bing Lee brand and the opening of a second store will allow us to strengthen our presence in the region.”
Bing Lee opened its first retail store in Fairfield in 1957 and today is a $330 million operation with a total of 32 stores throughout Sydney, regional New South Wales and the ACT. As the company continues to expand it remains Australia’s largest family held retail electrical business.
“The family business continues with direction from Bing Lee’s eldest son Ken Lee while Ken’s sons Lionel and Greg take on increasingly executive positions within the company.
“Bing Lee has successfully adapted its strong family values to the business. The underlying success of Bing Lee is its Chinese heritage.
“Bing Lee has enjoyed an amazing capacity to encompass a world of ethnic cultures and values whilst maintaining its Chinese origins at the centre,” he said.
Bing Lee recently held an event at the Sydney Opera House hosting suppliers in the lead-up to the company’s 50th anniversary next year.