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The overseas retail giant Costco will open its long-awaited first store in Australia on August 17 at Melbourne’s Harbour Town, Docklands.
Costco's Australian operations will be powered by ERM Power Retail who is pleased to add Costco to its increasing client base.
ERM Power is a Brisbane-based company and is the only energy retailer that exclusively services large corporate and industrial customers within the jurisdiction of the recently established Australian Energy Market Operator (AEMO).
Terry McCauley, ERM Power Retail’s general manager sales, said the partnership was a significant win for the company’s rapidly increasing portfolio of commercial customers.
“Since commencing billing in January 2008, our retail portfolio has grown to more than 200 customers and almost $1 billion in contracted revenue.
“ERM Power Retail has a unique capability to tailor products and services to its customers. These capabilities helped ERM win the Costco contract,” Mr McCauley said.
Costco carries quality brand name merchandise at substantially lower prices than are typically found at conventional wholesale or retail sources.
The warehouses are designed to help small-to-medium-sized businesses reduce costs in purchasing for resale and for everyday business use.
Costco’s vice president and country manager Patrick Noone said Costco is excited to be expanding to Australia.
"We started construction in November of last year and are looking forward to bringing our unique approach to low price shopping to the Australian public.
“Introducing Costco to Australia was an important step for us and we are eager to get started with our Australian operations,” Patrick Noone said.
“We’re very happy with our partnership with ERM Power and anticipate that we will be able to achieve great success with our first store in Melbourne,” he said.
The Melbourne store will be the first step in a plan to establish the stores on a national level.
Recently, ERM Power was awarded a $20 million National Australia Bank (NAB) facility to fund the company’s next stage of growth in the competitive electricity market.
Mr McCauley said ERM Power Retail was positioned well for considerable growth this financial year.