Having started the venture in his parents’ garage six years ago, Ruslan Kogan has grown his consumer electronics offering into a globally recognised brand. Yesterday, Kogan says his store raked in over $1 million in sales for the first time.
The rambunctious entrepreneur Ruslan Kogan, Founder and CEO of the pureplay electronics store Kogan, is no stranger to media attention, frequently offering up his opinion on various topics within the Australian retail community and occasionally stepping on some toes along the way. Today, the entrepreneur may have found something really worth crowing about.
Kogan conceived of his business over six years ago and began the project while operating out of his parents’ garage. Yesterday, Kogan claims to have set a new benchmark for his store, taking in over $1 million in daily sales.
“We’ve just had our first $1 million day of sales, and the entire Kogan team is tremendously proud. It took us six years of very hard work to get here,” he says. “We actually sold three times in one day (yesterday) than in our entire first year of trading.”
The retailer has made a name for himself by unabashedly undercutting the large, bricks-and-mortar retailers with a range of pricing initiatives alongside his bevy of in-house branded products. Kogan has previously set himself up against the likes of Gerry Harvey in the media, and he has lost none of that swagger in this most recent announcement, while also taking a swing at Terry Smart, CEO of JB Hi-Fi.
“I wonder when our first $10 million dollar day will be?” he ponders. “Watch out Terry and Gerry. We’re coming!”