Venkat Raman, Auckland, January 23, 2019
New Zealanders can expect an extensive selection of furniture and homeware products at a new retail showroom coming up in West Auckland.
At an estimated $60 million, occupying a floor space of 27,000 Sq Metres (on a total area of 31,000 Sq Metres), ‘Nido,’ as it is called, would be the largest retail store of its kind in New Zealand.
The floor space will be larger than three Rugby fields combined and will carry more than 10,000 products catering to an extensive range.
It will account for 80 exclusive brands, with more than 100 display rooms, which will be continuously updated.
The Mastermind
Vinod Kumar, one of the best known entrepreneurs of the country who set up the first Mitre 10 Mega in Henderson (which officially opened on March 26, 2004-Indian Newslink published a Special Feature in its April 1, 2004 issue) is the mastermind behind Nido as its Managing Director.
He said that the new Store will be 100% New Zealand owned and will employ 200 New Zealanders and that the name (Nido means ‘Nest’ in Latin and Spanish languages) was chosen out of at least 500 suggestions.
“The construction project is about 10% complete. Nido is scheduled to open this Spring (Between September and December) but Online shopping will open earlier,” he said.
“Nido will been funded through commercial property investment Maat Group by dozens of local investors from around the country who believe that the market is ready for a new retail concept,” he added.
Intensive Research
As well as substantial investment, Nido has involved nine years of intensive research into the most innovative retail models from various parts of the world.
Mr Kumar said that the scale and style of the offering will be unprecedented in New Zealand.
“Carrying thousands of mainly European and US products, Nido will cater to a wide range of budgets and tastes across the local market. Kiwi shoppers will be able to access the latest products, technology and global design trends,” he said.
Mr Kumar said that the Company will partner with a logistics supplier to provide nationwide distribution for its product lines.
About Vinod Kumar
Born in Fiji, Vinod Kumar graduated in Civil Engineering from the University of Auckland in 1975 and launched his career at Fletcher Construction. After becoming a Permanent Resident in 1987, he brought his family from Fiji and built his first family home in Blockhouse Bay, Auckland. Despite the recession in 1989, he established his first retail business with Mitre 10 in Henderson. The venture expanded rapidly and he continued to invest in the business.
Awards and Accolades
Mr Kumar won in several categories of the Indian Newslink Indian Business Awards, including the ‘Supreme Business of the Year Award’ in its launch year in 2008 and again in 2013. At each of the acceptance speeches, he advocated for better facilitation of investors and businesspersons, asking the government of the day and commercial banks for appropriate policies and incentives.
He was also voted twice ‘New Zealand Retailer of the Year.’
