The Warehouse Group has sold its outdoor brand Torpedo7 to Tahua Partners for $1, planning to focus on its core retail brands. This sale will lead to
The Warehouse Group has sold its outdoor brand Torpedo7 to Tahua Partners for $1, planning to focus on its core retail brands. This sale will lead to a significant accounting write-down but is seen as a strategic move to concentrate on strengthening The Warehouse, Warehouse Stationery, and Noel Leeming. Torpedo7’s performance has been declining, attributed to lower consumer demand and a global dip in the bike market. Tahua Partners, involved in various retail and hospitality businesses, aims to rejuvenate Torpedo7. The sale is expected to be finalized by March 2024.
