Get $500 to Spend at JB Hi-Fi Now!
JB Hi-Fi was established in the Melbourne suburb of Keilor East by John Barbuto in 1974.[1] Barbuto sold the business in 1983 to Richard Bouris, David Rodd, and Peter Caserta, who expanded JB Hi-Fi into a chain of ten stores in Melbourne and Sydney turning over $150 million by 2000, when they sold the majority of their holding to private equity. It was subsequently floated on the Australian Stock Exchange in October 2003.
At first, the company specialised in Hi-Fi equipment. As the mainstream popularity of vinyl records declined, in 1991 JB Hi-Fi cleared out their entire stock of records and began offering exclusively CDs, and were one of the first Australian music retailers to do so. (However, due to the recent revival of vinyl records larger stores began to stock them again).
| Public | |
| Traded as | ASX: JBH |
| Industry | Retail |
| Founded | Keilor East, Victoria, Australia (1974; 45 years ago) |
| Founder | John Barbuto |
| Headquarters | Level 3, Office Tower 2, Chadstone Shopping Centre, Melbourne, Australia |
In June 2007, JB Hi-Fi opened a Sydney branch of Clive Anthonys at the Home Hub in the suburb of Castle Hill. This departed from the market in which they had already established a strong presence, as Clive Anthonys specialise in white goods.
In February 2010, JB Hi-Fi ceased to renew leases on Hill and Stewart stores in New Zealand and liquidated the business, citing management's wish to build the JB Hi-Fi brand in New Zealand.[10] In 2018, there were 15 stores in New Zealand.
In October 2016 JB Hi-Fi struck a deal which acquired The Good Guys warehouses within Australia making the JB-HiFi group the largest electronics retailer in Australia spread between the two brands.
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