Coles Group
Coles Group Limited is an Australian public company operating several retail chains. Its chief operations are primarily concerned with the sale of food and groceries through its flagship supermarket chain Coles Supermarkets, and the sale of liquor through its Coles Liquor outlets. Since its foundation in Collingwood, Victoria in 1914, Coles has grown to become the second-largest retailer in Australia after its principal rival, Woolworths, in terms of revenue.
For the supermarket chain, see Coles Supermarkets. For the company which acquired the previous Coles Group, see Wesfarmers. For the earlier demerged subsidiary, see Myer.Company type
- ASX: COL
- S&P/ASX 200 component
Consumer staples
Coles Myer Ltd
Wesfarmers (spun-off)
9 April 1914
Collingwood, Victoria
Retail and consumer services
- Coles Supermarkets
- Coles Online
- Coles Liquor
- Liquorland
- Vintage Cellars
- First Choice Liquor
- flybuys (50%)
- Coles Financial Services
Formerly known as Coles Myer Ltd. from 1986 to 2006, Coles Group was owned by Wesfarmers from 2007 until 2018, when it was spun-off, with it once again listed as an independent public company on the Australian Securities Exchange, containing Coles Supermarkets, Coles Online, Coles Express, Coles' liquor division, Coles' financial division, and Flybuys.[3]
History[edit]
G.J. Coles & Coy (1914–1986)[edit]
In 1914, the first Coles "variety store" was opened in Melbourne. Coles was founded in 1914 by George Coles when he opened what was called the "Coles Variety Store" in Smith Street in the Melbourne suburb of Collingwood.[4] More stores opened and the chain was regarded as the leaders in providing value to Australian shoppers. The building formerly occupied by the original Coles Variety Store is now the location of a Woolworths outlet – the major competitor to Coles.
Coles was run in succession by members of the Coles family from 1914 until the mid-1970s by the "famous five knights", brothers Sir George, Sir Arthur, Sir Edgar, Sir Kenneth and Sir Norman – known by their first initials – GJ, AW, EB, KF, NC.[5]
In 1960, the first supermarket was opened in the Melbourne suburb of Balwyn North and in 1973, a Coles store had been established in all capital cities of the country.
Kmart Australia Limited was born out of a joint venture between G.J. Coles & Coy (Coles) and S.S. Kresge (later Kmart Corporation) in the US. The first store opened in the Melbourne suburb of Burwood in 1969. In 1978, Kresge (Kmart) exchanged its 51% stake in Kmart Australia for a 20% stake in G.J. Coles & Coy Coles, allowing Coles to fully acquire Kmart Australia.[6][7]
