Woolworths plans to spend almost AUD400 million (USD371.1 million) establishing the first 12 stores in its joint-venture hardware chain, likely to be called ”Masters”, according to documents filed with Australia’s Planning Minister Justin Madden.
Three planning applications were submitted last week for what are expected to be the first stores in a national chain. Woolworths and US hardware partner Lowe’s hope to have 150 stores within 5 years to tackle Bunnings, Australia’s largest hardware chain owned by Wesfarmers.
It expects to employ up to 150 full and part-time staff at the shops, or about 4500 if it has 30 stores.
(Source: The Sydney Morning Herald Online)