The underlying focus of the company and its people has remained unchanged throughout its 75 year history - The Customer. In Appliance and Consumer Electronics Retailing this has fostered long term relationships based on advice, trust and service.
The Groups Non Retail trading activities concentrate on the repair and selling of branded product into selected market segments.
ALECTRA was established in the mid-1980s as a whiteware repair business. It added electrical wiring and gas fitting to its business in the late 1990s. Originally designed to be a support for the kitchen appliance and home heating retail operations, it has extended its operations to provide a direct to the customer service and has built a reputation for quality workmanship. It operates from four locations in the South Island Nelson, Christchurch, Dunedin and Invercargill, and two in the North Island Palmerston North and Whakatane.
In the last two years the Alectra operation has been extended to include a comprehensive business to business sales operation selling consumer electronics, kitchen appliances, carpets, home furnishings and heating products into the commercial market principally the residential building and hospitality markets.
Each division is managed by a General Manager and has its own sales and marketing team. This ensures individual focus on the key critical success factors for each business.
The trading divisions are supported by centrally managed logistics, distribution, computer systems, management information, accounting and treasury functions. Such a structure enables the company to best manage efficiencies and allocate resources to those areas where the return will be greatest.
SMITHCORP FINANCE LIMITED is the Groups finance company.
The major functions of this company are divided into two parts:
1) The provision of flexible finance options for the retail divisions. These options can be secured (hire purchase) or unsecured (revolving credit); and
2) The provision of unsecured loan facilities under the brand Lifestyle Plus to customers with a proven credit history with Smiths City.
As at 30 April 2009 the gross value of the finance portfolio was approximately $91million. There were approximately 76,000 active accounts.
The finance company has a three year evergreen funding facility in place with Fisher & Paykel Finance Limited. As at 30 April 2009 the amount financed was approximately $83.1million.
Day to day control of the Companys consumer finance facilities is considered a major strength for the Company.
Smithcorp Finance Limited also owns a small company called SCG Finance.
SMITHS CITY PROPERTIES LIMITED is the Groups property company.
Prime locations and superior store presentation are critical to the success of any retail organisation. The Group has recognised this and retained ownership of its key Colombo Street location. Based in central Christchurch this site houses the Groups largest retail store (which contributes between 20% and 25% of the Groups sales) as well as the Group Administrative office.
The company has recently completed a major redevelopment of the Colombo Street store which now, in the companys opinion, offers the best available range of product from any one store in New Zealand. Covering approximately 9,000 square metres of ground floor retail space it is supported by 140 ground level customer car parks.
The property company has also been used to undertake developments for the retail organisations where considered appropriate by the Board.
Business Activities