Camera specialist CameraPro on the hunt for acquisitions

MEDIA RELEASE
5 May 2020

Camera specialist CameraPro on the hunt for acquisitions

BRISBANE – Leading Australian camera speciality retailer, CameraPro, is currently actively looking at acquisition opportunities of aligned retail and ecommerce sites across Australia.

"We've been looking for opportunities for national growth and expansion for some time,” wrote CameraPro founder Jesse Hunter.

“And with the significant decline in the camera industry, further consolidation in the market is inevitable.”

The current retail downturn for the camera retail industry is unprecedented with GFK data showing around 20% decline even before the COVID-19 pandemic.

Now, with both travel restrictions and safety lockdowns, the market has dropped by more than half of 2019.

Many specialty camera stores are temporarily closed, with a number expected not to reopen for some time, if at all.

“CameraPro’s unique model of experiential retailing has proven very successful in our declining industry, with our retail growth averaging over 50% y-o-y for the past 2 years,” Hunter confirmed.

“We are now looking to roll our model of Service Excellence and photographic experience from Queensland into other Australian markets.” 

While the current environment is no doubt a test, CameraPro believes there is still significant potential for growth and market expansion.

CameraPro has a reputation of purposeful market leadership with strong social and environmental initiatives, growing rapidly over the last 10 years to be the market leader in Queensland. 

Also, a market innovator, even as recently as March this year with the launch of an industry first “Video Shopping Service” (as reported in the SmartCompany entrepreneurship publication); CameraPro has interstate growth firmly in its sights.

“We feel we are now in one of the strongest positions in the market to bounce back as the photographic and camera industries re-emerge from Covid. Acquisition will be part of our strategy moving forward in a vastly changed retail marketplace.”

Interested parties are encouraged to contact CameraPro’s General Manager, John King, directly on   0411 287 070 or john.king@camerapro.com.au

About

Founded in 2007, CameraPro is a leading, independent photographic retailer serving customers Australia-wide. Our story began with a simple ambition: to deliver a better retail experience for photographers. More than a decade later, our success story is more than anything else the story of a commitment to that original promise.

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