ThinkSmart And JB Hi-Fi Cement Relationship

14 Sep ThinkSmart And JB Hi-Fi Cement Relationship

ThinkSmart Limited (ASX:TSM) and JB Hi-Fi (ASX:JBH) today announced that they have agreed to remove a termination by convenience clause from their operating agreement further cementing their relationship in Australia and New Zealand.
The clause enabled termination by convenience after the initial 24 months.  Since contracting in February this year, the businesses have rapidly expanded their relationship seeing ThinkSmart’s product offering extended to JB Hi-Fi’s Clive Anthonys stores and due to roll out to its New Zealand stores by the end of the year.

Commenting on the movement, ThinkSmart managing director and CEO, Ned Montarello, said: “JB Hi-Fi is an innovative, dynamic retailer that is clearly making a massive impact into the computer retail dynamic in Australia.
“We’ve already witnessed trading performance at the upper end of expectations together over our first six months of business and are looking forward to continuing to support JB’s aggressive growth in the market through our RentSmart product.”
Richard Uechtritz, CEO of JB Hi-Fi added:
“Getting the right partners who can dial into our business helps us concentrate on our day-to-day growth goals.  ThinkSmart has been a great addition to our growth and provides a strong value proposition for both our customers and shareholders.  The show of confidence in extending the agreement reflects this.”