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Thread: KMD - Kathmandu

  1. #821
    ShareTrader Legend Beagle's Avatar
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    I doubt there will be an improved offer either, especially on the back of recent business and consumer confidence survey's recently which have been anything but stellar.
    For instance, I can't see too many dairy farmers and their wives and children updating their adventure and apparel gear in the foreseeable future.

  2. #822
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    A seasoned guy like Duke will not be worried about short-term impacts from consumer confidence and business cycle news. If anything this is often an opportune time to buy up businesses (hense KMD offer). Don't forget KMD is essentially an Australian business with NZ exposure and Australia's economic environment has been questionable for a while.

    There is no doubt that this takeover offer is opportunistic and $1.80 is very much a low ball offer. With the recent struggles KMD have been through it puzzles me that people forget that only in 2013 was KMD being blamed for Snowgum's demise, indicating a very strong market position.

    I agree that the business has perhaps suffered from over expansion in recent years, but the good news is that it has not been over leveraged and therefore the business still holds allot of flexibility going forward.

    With all that said at the right price (closer to $2) the merger could provide a great deal of synergies for both businesses. This would provide the joint business with far greater leverage when dealing with suppliers in Asia, which is often a difficult negotiation process for smaller companies within the Asia Pacific (compared to much larger US and European retailers - Cabelas and Dick's Sporting Goods only to name a few). Essentially clothing retailers these days are brand managers and any opportunity to buy the products they sell at a cheaper price is a very desirable move - the story of value creation; operation efficiency and revenue growth.

    With Duke owning 80% of BGR it is in his best interests to low ball KMD at the begining. Who would want a CEO excessively invested in the company he managers not trying to maximise his wealth through the business - I wouldn't! If this is truely the price he values the company then he was stupid to not start off lower.
    Last edited by pennyacw; 06-08-2015 at 12:05 PM.

  3. #823
    Speedy Az winner69's Avatar
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    Quote Originally Posted by Balance View Post
    Can't see Rod paying up. He is on record as saying he will not buy something unless he can 'steal' it.

    He will be happy to sit back and have the market recognize the value of the 20% he already holds, and wait for KMD to come back down to him.
    I am looking forward to rods 'formal' response .....hope plenty of agro pointing out to KMD shareholders how bad their company is and how all the good things that kmd say they are going to do are just hope.

    Bring it on Rod.
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  4. #824
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    Quote Originally Posted by winner69 View Post
    I am looking forward to rods 'formal' response .....hope plenty of agro pointing out to KMD shareholders how bad their company is and how all the good things that kmd say they are going to do are just hope.

    Bring it on Rod.
    You might get your wish winner. Messr Kirk gently unloading a little on Duke here. Handbag stuff but hopefully provokes an escalated response!
    http://www.nzherald.co.nz/business/n...492934&ref=rss

  5. #825
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    Quote Originally Posted by drcjp View Post
    You might get your wish winner. Messr Kirk gently unloading a little on Duke here. Handbag stuff but hopefully provokes an escalated response!
    http://www.nzherald.co.nz/business/n...492934&ref=rss
    Criticism that he has no experience running a vertically integrated business. I wonder if that is Dukes plan? Why bother being fully vertically integrated (and the overheads associated with that) when there are plenty of other great brands you can sell.

  6. #826
    Speedy Az winner69's Avatar
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    Quote Originally Posted by Harvey Specter View Post
    Criticism that he has no experience running a vertically integrated business. I wonder if that is Dukes plan? Why bother being fully vertically integrated (and the overheads associated with that) when there are plenty of other great brands you can sell.
    Exactly what I was thinking hs.

    And KMD can't really say they are hat good at managing vertical integration anyway.
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  7. #827
    ShareTrader Legend Beagle's Avatar
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    Hostile it is !! Duke scoffs and talks in a fairly derisory manner and basically says "put up your dukes"

    http://www.sharechat.co.nz/article/c...as-too-lowhtml

    Love it... stand back everyone, they have their gloves on and dukes up and we are in for a good battle here
    Last edited by Beagle; 06-08-2015 at 04:10 PM.

  8. #828
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    Quote Originally Posted by winner69 View Post
    Exactly what I was thinking hs.

    And KMD can't really say they are hat good at managing vertical integration anyway.
    KMD gear is excellent at vertical integration, have worn their gear in cold, wind and at high speed and it integrates very well. PS- Don't like the offer at all in case you forgot

  9. #829
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    I'm just gonna leave this here in regards to KMD boards response....

  10. #830
    Speedy Az winner69's Avatar
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    Go Team Briscoe, stick it to the dreamers at Kathmandu

    Good response but not pointed enough,stronger language next time please. PM me and I'll point you to a real response rubbishing a crappy company defending a takeover

    https://www.nzx.com/companies/BGR/announcements/268091
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

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