Online retail business Harris Technology Group (ASX:HT8) is capitalising on its opportunity in the global gaming market with two new international reseller agreements. Image: Getty
Tech
Along with its marquee reseller deal, HT8 also welcomed a key new addition to its management team as it lays the platform for further strong growth.
Online retail business Harris Technology Group (ASX:HT8) is capitalising on its opportunity in the global gaming market with two new international reseller agreements.
The company announced this morning that its fully owned subsidiary, Harris Technology Pty Ltd, has been appointed as an authorised reseller for three popular gaming products:
RIG Gaming was recently acquired by French gaming group Nacon (EPA:NACON), a market leader in gaming accessories for both casual and experienced gamers.
Both the Thrustmaster and Hercules brands are owned by a separate multinational, Guillemot Corporation (EPA: GUI), which is also headquartered in France.
With its appointment by both companies, HT8 is positioning to leverage its existing strength in the local market where it’s already a leading reseller on core platforms such as Amazon Australia and eBay.
The company is also capitalising on the market opportunity in gaming, a segment where it saw revenues surge higher in the wake of last year’s COVID-19 disruption.
“RIG, Thrustmaster and Hercules are all hugely popular brands in the gaming community,” HT8 CEO Garrison Huang said.
The new deals enable Harris “to bring many of the world’s top gaming products and accessories to Australia, where demand has increased even with the lifting of lockdown restrictions”, he added.
One of the largest and fastest-growing markets in the world, the global gaming sector was valued at over $US160bn in 2020, with compound annual growth rates in excess of 10 per cent.
As a result, HT8 has an opportunity to significantly expand its addressable market with its latest reseller deals.
“Through these brand appointments, we look forward to servicing Australia’s large and growing community of gamers by offering the best products across our ecommerce platforms,” Huang said.
While Harris continues going from strength to strength operationally, the company has also upgraded the quality of its board with the recent appointment of Guy Polak as a non-executive director.
Polak played a crucial role in the growth of popular online retailer catch.com.au, where he served as head of buying and reported directly to the company CEO.
And with his track record in the sector, Polak brings a wealth of experience in terms of both product choices and abroad general knowledge of the Australian ecommerce landscape.
For Huang and the HT8 board, the ability to attract a retail executive of Polak’s calibre is an exciting development, “given his strong track record in buying, wholesale and distribution”, Huang said.
The company’s existing proprietary knowledge of what products work in the Australian marketplace is already a crucial aspect of its competitive advantage.
And Huang said that the addition of Polak will only strengthen its position in that area, where buying the right products is crucial to business success.
“With consumers having so much choice, product selection is critical for acquiring new customers and repeat business opportunities, so we look forward to Guy’s input across these areas,” Huang said.
It adds up to a busy run of news flow for HT8, as the company continues to break new revenue records and establish itself as the leading seller in the Australian ecommerce marketplaces.
This article was developed in collaboration with Harris Technology, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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