AuMake International has provided an update following the $14.2 million purchase of Broadway on 17 April, which will see them gain eight new storefronts. The purchase adds scale to AuMake’s business and positions them as one of the largest Chinese online and offline retailers in Australia and New Zealand.
AuMake International Limited (AuMake) is an ASX listed retailer connecting Australian suppliers directly with Chinese consumers via its AuMake and Kiwi Buy retail stores located in Sydney, New South Wales.
AU8 engages with the growing and influential
As a result of this acquisition 43.75 million new shares were issued to raise $7 million. Five of which went into the purchase and the remaining two for transaction costs, online sales, marketing and capital.
“The acquisition of Broadway has transformed AuMake into a significant and influential business in the ANZ Chinese tourist and daigou market,” Executive Chairman Keong Chan said.
“However AuMake is more than a simple retail business. AuMake’s Chinese focused retail platform is underpinned by a unique business model that utilises the strength of its online and offline sales to incubate, promote and sell ANZ brands to Chinese consumers,” he continued.
AuMake International connects Australian suppliers with Chinese customers via its AuMake and Kiwi Buy retail stores located throughout the country. A range of Australian products in the healthcare, dairy products, baby food and leather products are offered in the stores with the aim of Asian tourists purchasing them.
There are bilingual staff and multiple payment options that make the shopping experience easier.
AuMake now has more than 25 stores located all throughout Australia and New Zealand, as well as a sales hub in China. There are also a number of online stores including WeChat, Kiwibuy and JD Worldwide.
With the growing number of Chinese tourists the company aims to earn more than $100 million in revenue in 2020 and they want to increase the number of Chinese tourists visiting the stores to 70,000.