Torpedo7, the owner of 1day.co.nz says their merger with The Warehouse has been going well. In March this year, the Warehouse announced that they had contracted to purchase 51% of the Torpedo7 business for 33 million.
The deal gives Torpedo7 many advantages including financing and strategic direction. Also of great benefit is the Warehouses experience in importing. While Torpedo7 imports a massive 800 containers each year, the Warehouse Imports 22,000. There are also many things that can be learned from massive company such as the warehouse, from marketing to staffing.
Torpedo7 also moved into a new warehouse facility although this was underway prior to the Warehouse being officially involved. Luke Howard-Willis co-founder of Torpedo7.co.nz said that they had been in talks with The Warehouse for about 18 months prior to signing a deal.
The Warehouse has been on a business buying spree over the past year buying Noel Leeming and Bond and Bond electronics retailers. Continuing their buying spree they snapped up Torpedo7 and 1day, and Insight Traders who ran deals site 3deals.co.nz, and the Perfume "Bucket" Sales around the country. The Warehouse also launched Red Alert, their very own daily deals site.