The Warehouse Group

What The Warehouse Group does

The Warehouse Group is New Zealand's largest publicly-listed multi-brand retail conglomerate, headquartered in Auckland and founded in 1982 by Sir Stephen Tindall. The group operates an integrated omnichannel platform of 92+ physical stores and brand-specific e-commerce sites across The Warehouse (general merchandise), Warehouse Stationery (office supplies, print and copy services), Noel Leeming (consumer electronics and appliances), and the online-only sporting goods brand Torpedo7. With more than 12,000 employees across New Zealand and approximately 1.5 million weekly shoppers, the group pursues an everyday-low-price (EDLP) strategy targeting value-conscious Kiwi families. Operational reach spans general merchandise, grocery and fresh produce (now ~20% of The Warehouse brand sales, rolled out to 43 of its stores), consumer electronics, stationery, and private label ranges including Market Kitchen (frozen meals and pantry), Good One (health and body), and Red Rack (discounted branded apparel). Distribution is reinforced by omni-channel services such as click-and-collect, 'Endless Aisles', Tech Solutions after-sales support, and a small B2B commercial and education portal serving Healthy Homes Initiative providers.

The group's revenue model is predominantly transactional retail (one-time purchases) across both physical stores and e-commerce, supplemented by an emerging retail media advertising arm monetising its 1.5 million weekly shopper audience, and selective card-linked promotional partnerships (ANZ Loop / Visa). Its technology stack comprises vendor-delivered rather than proprietary capabilities: Dynamic Yield (Mastercard) for email personalisation, computer-vision-based product matching via the Snap and Shop mobile feature, an AI-enabled predictive analytics stack with mobile dashboards and AI chatbots for enterprise data access, and click-and-collect and endless-aisles fulfilment infrastructure. Pricing follows EDLP unit pricing with a stated positioning as the cheapest go-to for breakfast and lunchbox essentials (a basic grocery basket claimed to be NZ$11 cheaper than the next nearest competitor).

The business model is undergoing active reset. Following a change of CEO to Mark Stirton in September 2025 (previously Mr Price Group CFO), the company announced head office reductions of approximately 270 roles plus overseas outsourcing of administrative functions, partnered with Tata Consultancy Services for a five-year digital transformation targeting up to NZ$40 million in cost reductions, and refocused the portfolio around three core brands. The group is publicly listed on the NZX, has no parent entity, and reports in NZD.

Name

The Warehouse Group

Legal name

The Warehouse Group Limited

Website

https://thewarehousegroup.co.nz

Company type

Public

Founded year

1982

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

The Warehouse Group is New Zealand's largest publicly-listed multi-brand retailer, operating 92+ stores and e-commerce platforms across The Warehouse, Warehouse Stationery, and Noel Leeming. It serves 1.5 million weekly Kiwi shoppers with everyday-low-price general merchandise, grocery, electronics, and stationery.

Ownership category

akta.pro rank

Product category

General Merchandise Retail

NAICS

General Merchandise Retailers (455), Department Stores (4551), All Other General Merchandise Retailers (455219)

SIC

Retail-Variety Stores (5331), Retail-Department Stores (5311)

akta.pro primary industry

Warehouse-Format Mass Merchandisers (Non-membership) (CRAGABAE)

Keywords

• General merchandise retail
• Everyday low price
• Consumer electronics retail
• Office stationery supplies
• Omni-channel retail

Headquarters

HQ city

Auckland

HQ country

New Zealand

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Supply Chain, Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Retail Sales (Physical Stores): Revenue generated from physical retail stores across The Warehouse, Warehouse Stationery, and Noel Leeming brands. The company operates as one of New Zealand's largest general merchandise retailers offering a wide range of products at everyday low prices. The group has expanded into grocery and fresh produce, which now represents approximately 20% of The Warehouse brand's total sales.
2. E-commerce / Online Sales: Revenue from online channels including thewarehouse.co.nz, warehousestationery.co.nz, and noelleeming.co.nz. The company offers click-and-collect and delivery options supporting omni-channel shopping experience.
3. Retail Media: The Warehouse Group has launched a dedicated retail media arm as part of the growing APAC retail media sector, generating advertising revenue from brands seeking to reach The Warehouse's 1.5 million weekly shoppers.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels4 records

Core offering

The Warehouse Group is New Zealand's largest general merchandise and multi-brand retail group, operating The Warehouse, Warehouse Stationery, and Noel Leeming stores. The company sells a wide range of general merchandise, grocery and fresh produce, consumer electronics and appliances, stationery and office supplies through 92+ physical stores and e-commerce platforms, supported by private label brands including Good One, Market Kitchen, and Red Rack.

Product overview

The Warehouse Group is New Zealand's largest retail group operating a platform of retail brands with both physical stores and e-commerce channels. The core offering centers on The Warehouse (general merchandise), supplemented by Warehouse Stationery (office supplies and services) and Noel Leeming (consumer electronics). The group has expanded into private label brands including Good One (health and beauty), Market Kitchen (frozen foods), and Red Rack (discounted apparel). Digital services include Click and Collect, Endless Aisles, and Noel Leeming's Tech Solutions and Smart Home experiences. The company operates approximately 92 physical stores across New Zealand and maintains e-commerce platforms for all major brands.

Differentiator

Problem solved

Functional benefit

Brands

• Good One: Private label health and body range - cruelty-free body and hair care products locally made with natural ingredients including Kawakawa and Mānuka honey, priced at $6-$8.
• Market Kitchen
• Red Rack

Products and services

• The Warehouse
• Warehouse Stationery
• Noel Leeming
• Good One
• Market Kitchen
• Red Rack
• Period Portal
• Noel Leeming Smart Home Experience

Quantifiable outcome

• 14% uplift in email click rate through Dynamic Yield personalisation platform across three brands
• +4 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability7 records

Feature2 records

Partnerships

22 partnerships are on record, tiered minor and core.

• ANZ Bank New ZealandminorStrategic or Co-development Partner · 30 April 2026ANZ New Zealand launched ANZ Loop, a card-linked cashback program in partnership with Visa, with The Warehouse and Noel Leeming as participating retail partners. The program offers specific deals such as $50 cashback on spending over $500 or 5% cashback on online purchases at The Warehouse and Noel Leeming. Cashback is automatically credited within 2-7 days with no activation required.
• Tata Consultancy Services (TCS)coreTechnology or Integration · 15 September 2025Tata Consultancy Services partnered with The Warehouse Group to assist in its digital transformation. The deal involves simplifying managed services, modernising the IT landscape, and developing workforce skills in digital and AI, with an estimated cost reduction of up to $40 million over five years. TCS is listed among the strategic investments expanded or new partnerships announced by TCS.
• HERproject (Business for Social Responsibility)minorStrategic or Co-development Partner · 8 July 2019The Warehouse Group partnered with HERproject to provide financial literacy and health awareness training for women in Bangladesh factories producing apparel for The Warehouse. The two factories in Dhaka and Tangail employ 1,458 women workers who receive training through the programme.
• Dynamic Yield ( Mastercard company)coreTechnology or IntegrationThe Warehouse Group implemented Dynamic Yield's Experience Email personalisation platform to optimise email marketing strategy across three brands (The Warehouse, Warehouse Stationery, Noel Leeming). The implementation resulted in a 14% uplift in click rate and saved 28 hours per week in operational costs by deploying over 40 modules of personalised content using a single send.
• IBMcoreStrategic or Co-development PartnerThe Warehouse Group partnered with IBM to launch P-TECH (Pathways in Technology) in New Zealand, a global education and workforce preparedness model. The Warehouse Group is the founding industry partner alongside IBM and Manukau Institute of Technology, bringing industry, high schools, and tertiary education together to equip students with tech skills for future careers.
• Manukau Institute of TechnologycoreStrategic or Co-development PartnerPartner in the P-TECH programme alongside IBM and The Warehouse Group, providing tertiary education pathway for students in the programme.
• Variety – the Children's CharitycoreStrategic or Co-development PartnerNational charity partnership supporting the Kiwi Kids programme to help provide essentials that children would otherwise go without. The Warehouse Group has worked with Variety across multiple campaigns including Christmas donations ($265,658 raised in 2023).
• Women's RefugecoreStrategic or Co-development PartnerLong-standing national partnership supporting Tamariki Refuge, an advocacy programme for children entering Refuge care. The Warehouse also partners with Women's Refuge for the shielded web portal on thewarehouse.co.nz and for the Good One health and body range product donations.
• The Salvation ArmycoreStrategic or Co-development PartnerNational partnership since 1883 supporting families in need with budgeting advice, food and clothing assistance, and life skills programmes. Warehouse Stationery also partners with The Salvation Army on scholarship schemes funding up to six young New Zealanders per year for tertiary education.
• The Period PlaceminorStrategic or Co-development PartnerPartnership to tackle period poverty in New Zealand through collection boxes in 10 stores and the Period Portal on thewarehouse.co.nz website, supporting The Period Place's mission to eliminate period poverty from Aotearoa by 2030.
• PlunketcoreStrategic or Co-development PartnerAnnual national fundraising partnership through the Pedal for Plunket initiative. Funds raised provide baby essentials packs to families in need across New Zealand. The 2017 campaign raised over $450,000 for Plunket Playgroups.
• Parenting PlacecoreStrategic or Co-development PartnerPartnership enabling families to attend Parenting Place's Toolbox parenting courses through fundraising. Funds also support the Building Awesome Whanau programme. The Warehouse has raised over $250,000 for The Parenting Place through campaigns including the Rangi Kipa limited edition bag sales.
• YouthlineminorStrategic or Co-development PartnerNational partnership with Youthline, which forms a collaboration of youth development organisations across New Zealand working with young people, their families, and supporting organisations.
• Life Education TrustminorStrategic or Co-development PartnerPartnership funding Life Education's shift to a digital platform and extending learning experiences for Kiwi school children outside the classroom.
• Hillary OutdoorsminorStrategic or Co-development PartnerPartnership with Hillary Outdoors, a charitable trust providing outdoor education primarily to young people at centres beside Tongariro National Park and on Great Barrier Island.
• Sustainable CoastlinesminorStrategic or Co-development PartnerPartnership with Sustainable Coastlines to enable people to look after coastlines and waterways through Love Your Coast, Love Your Water, and Litter Intelligence programmes, including coastal clean-up events and riparian planting projects.
• Auckland ZoocoreStrategic or Co-development PartnerThe Warehouse Zoofari programme is a multi-year partnership with Auckland Zoo enabling children from low-decile schools to visit the zoo for conservation-based learning. Over $62,000 was raised in Auckland and Northland stores in January 2015 to fund learning sessions.
• Ministry of Social Development (New Zealand)coreStrategic or Co-development PartnerJoint development of the Accelerator digital learning platform with The Warehouse and Youth Hub. The Warehouse's Red Shirts in the Community programme is the first training module on Accelerator, making it the largest public-private partnership for social inclusion and youth development in New Zealand.
• Youth HubcoreStrategic or Co-development PartnerYouth Hub developed the technology and infrastructure behind Accelerator, a platform helping young people create online profiles to connect with employers. Youth Hub is described as 'the LinkedIn for youth'.
• Dick Frizzell (Artist)minorOthersArtist Dick Frizzell designed limited edition reusable bags sold at The Warehouse, with 100% of proceeds going to Women's Refuge. The bags were sold for $3 each nationwide.
• Rangi Kipa (Artist)minorOthersArtist Rangi Kipa designed limited edition reusable bags for The Warehouse's fundraising campaign for The Parenting Place, raising money for the Building Awesome Whanau programme.
• Healthy Homes Initiative (Ministry of Health, New Zealand)minorStrategic or Co-development PartnerPartnership across many regions of the North Island where The Warehouse established a dedicated ordering portal for HHI providers to enable ease of ordering and delivery of products including heaters, curtains, beds, bedding, and rugs for families in need.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Kmart Australia: Kmart Australia is a discount mass merchandiser selling general merchandise, apparel, and home goods at everyday low prices across Australia. It is the closest direct analogue to The Warehouse brand in terms of EDLP positioning, broad assortment, and large-format discount store model, though it operates in Australia rather than NZ.
• Big W (Woolworths Group): Big W is Woolworths Group's discount general merchandise division in Australia operating large-format stores selling apparel, home, and seasonal goods at value prices. Directly comparable to The Warehouse on discount department-store format, target customer (value-conscious families), and breadth of assortment.
• Target Australia: Target Australia operates department-store style general merchandise retail with apparel, home, and beauty lines, recently restructured under Wesfarmers. Comparable to The Warehouse on broad general-merchandise assortment, mid-market pricing, and omni-channel (physical + online) operations.
• Farmers Trading Company: Farmers is a long-standing New Zealand department-store retailer offering apparel, home, and beauty products across 58 stores. Directly comparable to The Warehouse as a domestic NZ multi-category retailer competing for the same mainstream Kiwi household customer.

Regional players

• Briscoe Group: Briscoe Group is a publicly listed NZ retailer operating Briscoes (homewares), Rebel Sport, and Living & Giving. It is a domestic peer focused on the home and sporting-goods categories that overlap with The Warehouse's home, sporting, and general merchandise assortment.
• Mitre 10 (NZ): Mitre 10 is a NZ home-improvement and trade retailer operating via a co-operative of locally owned stores. It overlaps with The Warehouse and Warehouse Stationery in home, tools, and DIY categories, and is a relevant adjacency peer for assortment benchmarking.

Broad incumbents

• Harvey Norman: Harvey Norman is a large franchise-based consumer electronics, furniture, and home-appliance retailer with significant NZ operations. It directly competes with Noel Leeming (TWG's electronics sub-brand) and partially overlaps with The Warehouse's electronics and home categories.
• JB Hi-Fi: JB Hi-Fi is a leading specialty consumer electronics and home-entertainment retailer with NZ stores. Closely comparable to Noel Leeming on electronics-focused assortment, mid-market positioning, and emphasis on branded boxes plus tech services.
• Woolworths NZ (Countdown): Woolworths NZ operates the Countdown supermarket chain, NZ's largest grocer. It is the primary competitive benchmark cited by TWG for the grocery/fresh-produce expansion and is the chain that defines the value-pricing comparison in fresh and pantry categories.
• Costco Wholesale: Costco operates membership warehouse clubs in NZ and competes for the same value-seeking Kiwi household shopper as The Warehouse. Relevant as a high-end comparison on warehouse-format general merchandise and grocery, though Costco is a much larger global incumbent and uses a membership model TWG does not.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/twg_careers
• Facebookfacebook.com/TheWarehouseGrp
• LinkedInnz.linkedin.com/company/the-warehouse-group
• Instagraminstagram.com/TheWarehouseGrp/?hl=en

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Warehouse Group