Sydney Tools is on track to open 10 stores across Australia in 2020 and has plans to enter new local markets in the next few years.
“We’re proud to say we’re on track with plans to double our eastern seaboard footprint over the coming five years, and to expand into Western Australia, the Northern Territory and South Australia this year, followed by Tasmania,” said Sydney Tools director Jason Bey in a statement.
According to Sydney Tools, the “additional 10 new stores equates to an estimated 20,000 square metres in leased industrial retail space, bringing the company’s national leased commercial footprint to 80,000 sqm”.
Last year, the trade tool specialist stated that it aimed to open 70 new stores within the next five years. There are currently 34 stores in New South Wales, Queensland and Victoria.
The new Sydney Tools stores to open this year include:
New South Wales: Coffs Harbour, on the state’s mid north coast
Victoria: Caroline Springs in Melbourne
Queensland: Kunda Park, Carrara and Townsville
Western Australia: Malaga in Perth
Northern Territory: Winnellie in Darwin
South Australia: Windsor Gardens
“While our online sales are growing rapidly, more than 94 per cent of our revenue has been generated through our bricks-and-mortar retail outlets,” said Sydney Tools director Jason Bey in a statement.
“Customers like to see and review the product first hand, which is allowing us to expand in a way counter to most retailers. You can say we’re a bright spot in a struggling retail economy.”