Company:Temple & Webster
 | |
| Type | Public |
|---|---|
| ASX: TPW | |
| Industry | Online Retail |
| Founded | 2011 in Sydney, Australia |
| Founders | Mark Coulter, Adam McWhinney, Conrad Yiu, Brian Shanahan |
| Headquarters | Sydney , Australia |
Areas served |
|
| Products | Homewares, Furniture |
| Website | templeandwebster |
Temple & Webster (ASX: TPW) is an Australian homewares and furniture retailer. The brand was founded in 2011,[1] and listed on the ASX as Temple & Webster Group (TPW) in December 2015.[2] The float followed the acquisition of two other businesses, the Australian operation of Wayfair[3] and Milan Direct.[4]
Overview
Temple & Webster was founded in 2011 by Mark Coulter, Adam McWhinney, Conrad Yiu and Brian Shanahan. The site was initially a members-only sales site, but became an open retailer in 2016 after merging the Wayfair brand.[5]
In 2015 the company was awarded the Fastest Growing Internet Retailer in the Deloitte Tech Fast 50.[6] Later that year the business released an IPO to raise $61 million, expecting a market capitalisation of $116 million.[7]
The IPO was oversubscribed, but shares fell over 30% on opening, taking their market value to $95 million.[8]
In December 2016 the business merged the Milan Direct ecommerce site into the Temple and Webster brand. Milan Direct continues to operate as a wholesaler and imported, supplying product to the Temple and Webster site.[9]
References
- ↑ "Temple & Webster To Take On $15 Billion Home Category". Power Retail. http://www.powerretail.com.au/news/temple-webster-homewares-site/.
- ↑ "Temple & Webster to acquire Milan Direct and list on the ASX next month in a $60 million IPO". Smart Company. http://www.smartcompany.com.au/finance/49075-temple-webster-to-list-on-the-asx-next-month-in-a-bid-to-raise-60-million/.
- ↑ "Wayfair Sells its Australian-based Business to Australia’s #1 Online Furniture & Homewares Retailer Temple & Webster". Wayfair. http://investor.wayfair.com/investor-relations/press-releases/press-releases-details/2015/Wayfair-Sells-its-Australian-based-Business-to-Australias-1-Online-Furniture--Homewares-Retailer-Temple--Webster/default.aspx.
- ↑ "Temple & Webster acquires Milan Direct ahead of IPO". Sydney Morning Herald. http://www.smh.com.au/business/retail/temple--webster-acquires-milan-direct-ahead-of-ipo-20151112-gkxona.html.
- ↑ "Homewares retailer Temple & Webster in shake-up". The Australian. http://www.theaustralian.com.au/business/companies/homewares-retailer-temple--webster-in-shakeup/news-story/5961058ed030b3ad5184488420794ded.
- ↑ "Technology Fast 50" (pdf). Deloitte. https://www2.deloitte.com/content/dam/Deloitte/au/Documents/technology-media-telecommunications/deloitte-au-tmt-tech-fast-50-2015-winners-report-241115.pdf.
- ↑ "Temple & Webster to acquire Milan Direct and list on the ASX next month in a $60 million IPO". Smart Company. http://www.smartcompany.com.au/finance/temple-webster-to-list-on-the-asx-next-month-in-a-bid-to-raise-60-million/.
- ↑ "Temple & Webster shares tank on market debut". Sydney Morning Herald. http://www.smh.com.au/business/retail/temple--webster-shares-tank-on-sharemarket-debut-20151209-glk04v.html.
- ↑ "Temple & Webster swallows Milan Direct". Sydney Morning Herald. http://www.smh.com.au/business/retail/temple--webster-swallows-milan-direct-20161213-gta7xb.html.
External links
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