Ruslan Kogan contemplates new growth avenues

Won't let Kogan Mobile demise slow down business

With Kogan Mobile coming to an end last month, Aussie online retailer Kogan has enlisted KPMG to assess potential growth strategies for the company.

According to the Australian Financial Review, Ruslan Kogan didn't say what exactly he was looking for, but he did confirm that he was not looking to sell the company.

"I have no plans to exit the business, but we do have plans to grow the business to the point where it's the biggest consumer electronics retailer in the country," he told AFR.

As Ruslan Kogan currently owns an 80% stake in the Kogan business, with 20% belonging to David Shafer, it seems probably that Kogan may be looking to sell part of his own stake in the company, and use the money from the sale for a new venture.

The Kogan future

While Kogan claims the short-lived Kogan Mobile was pushed out of the market, the technology retailer is still looking to see a turn over of $350 million this year, with sales on the site passing $1 million daily.

It passed its 2 millionth sale early in June, and over the years has introduced significantly lower-priced Kogan-branded smartphones, tablets, TVs and action cam alternatives to the market.

And though it seems unlikely that Kogan would take another stab at the MVNO market, we expect its next venture will also try and shake-up the consumer tech space.

Either way, Ruslan Kogan is determined to stick around and expand his business, which can only be a good thing for us gadget-hungry buyers.