JB Hi-Fi
JB Hi-Fi Limited is an Australian consumer electronics and home appliances retail company. It is publicly listed on the Australian Securities Exchange. Its headquarters are located in Southbank, Melbourne, Victoria.[1]
Company type
- ASX: JBH
- S&P/ASX 200 component
Retail
Keilor East, Victoria, Australia (1974; 50 years ago)
John Barbuto
Southbank, Victoria, Australia
218 (2023)
A$9.63 billion (2023)
A$743.1 million (2021)
A$506.1 million (2021)
A$1.106 billion (2020)
As of June 2023 the company operates 218 stores across Australia and New Zealand including 202 JB Hi-Fi and JB Hi-Fi Home stores in Australia, and 16 JB Hi-Fi stores in New Zealand, in addition to 106 The Good Guys stores in Australia.[2]
History[edit]
1974–2009[edit]
JB Hi-Fi was established in the Melbourne suburb of Keilor East by John Barbuto in 1974, selling music and specialist hi-fi equipment.[3] Barbuto sold the business in 1983 to Richard Bouris, David Rodd and Peter Caserta, who expanded JB Hi-Fi into a chain of ten stores in Melbourne and Sydney turning over $150 million by 2000, when they sold the majority of their holding to private equity. It was subsequently floated on the ASX in October 2003.[4][3]
In July 2004, JB Hi-Fi bought 70% of the Clive Anthonys chain in Queensland.[3] On 13 December 2006, JB Hi-Fi acquired the Hill and Stewart chain of 11 electronics stores selling and operating in New Zealand for NZ$17.5 million (A$15.3 million).[5] JB Hi-Fi later established stores under their own JB Hi-Fi brand in 2007, and closed all Hill and Stewart stores in 2010.[6][7]
Branding[edit]
JB Hi-Fi is known for its distinctive hand-drawn instore signage and product reviews written by its employees,[17] some examples of which have gone viral on the internet.[18][19][20] Commentators have noted that the bespoke signage gives customers the impression that the business can keep their prices low compared to competing retailers by not spending money on professional printing.[21]
The image of the retailer has been described as "deliberately laid-back",[12] and the fit out of their stores as "bare bones".[3]
