Shriro Holdings says kitchen appliances have become a loss-making part of its business. (file) -AAP Image
The company behind the Omega and Robinhood lines of kitchen appliances says it is exiting the business in Australia.
Hold tight - we’re checking permissions before loading more content
Shriro Holdings on Friday said it had found kitchen appliances to be a "competitive segment of the consumer goods market in Australia with many well-capitalised global manufacturers in this industry," with market pressure resulting in it becoming a loss-making part of its business.
The immediate catalyst for the decision was the loss of a major retailer for the Omega brand, which consisted of ovens, cooktops, dishwashers and range hoods sold at stores including Bing Lee and the Good Guys.
The product launched in 1981 with the goal of introducing affordable, quality European appliances to Australian shores although in recent years the products had been sourced from China.
The Robinhood brand - which Shriro acquired in 2013 - included range hoods, ducting solutions, laundry tubs, ironing centres, waste disposer sinks and taps.
Shiro said it would close its warehouse on the outskirts of Melbourne and focus on its global expansion of its seasonal business including BBQ products; its distribution business with Casio and Pioneer; and its New Zealand appliance business where it dominated the market in laundry tubs.
15°C