Posted July 13, 2018 13:27:08A $500 million investment by retail giant JB Hi-Fi into a new headquarters in Sydney is a game-changer for the city, the retailer’s chief executive says.
The company has been exploring a potential move to Sydney, and a move to a more urban location is a win-win, Mr Gautier said on Friday, as it prepares to open a new store in the heart of the CBD.
The investment in the former CIT building, near the Sydney Opera House, will allow JB to continue to expand in a new location that is also in the city’s centre, the company said.
It is part of a $1.1 billion expansion plan that includes the expansion of its retail footprint and the addition of a new restaurant, a supermarket and a fitness and food service centre.
It also comes as JB has been seeking to diversify its business, with plans to expand its online retailing service, the website for the brand and a retailing platform in partnership with a Chinese company.
The move will also bring about significant change for the company’s workforce, Mr Greautier told news.com