Former Woolworths boss Roger Corbett has lashed two of Australia’s largest alcohol retailers for losing their way and abandoning their customers.
Appearing on Sky News Business, Mr Corbett blasted the parent company of BWS and Dan Murphy’s, Endeavour Group, which is in the middle of a public and bitter board stoush amid stock prices that have dropped from $6.30 on January 3 to the current price of $5.105.The former Woolworth chief executive was involved in the deal that resulted in the retail giant purchasing Dan Murphys in 1998.
The store, which earlier this year took over the site of the Lindt Cafe siege, has been marketed as a “high-end” luxury concept store with premium products, and “extremely rare and hard-to-find” wines and spirits. Mr Corbett said Dan Murphy's luxury Martin Place store was counterintuitive to the brand’s founding ethos. Picture: Dan Murphy’s
“There are fundamental principles that have underwritten the success of Dan Murphy, and they are being lost.”