Hardware giant Bunnings to make biggest expansion in 20 years

PHOTO: Bunnings. SUPPLIED

The iconic Australian store has made its biggest move in two decades by expanding into one of the nation’s hottest multi-billion-dollar industries.

Bunnings will soon expand its offerings beyond hardware and into the lucrative pet care sector from next month.

The iconic Australian retailer, which has begun fitting out its stores to accommodate the new range, will stock more than 1,000 products such as food, toys and other accessories in the fast growing multi-billion industry.

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It will now go head-to-head with the likes of established industry leaders such as Petbarn and Woolworths, which has invested more than $500 million into PETstock.

Bunnings has announced it will soon expand its offerings into the lucrative pet care sector. Picture: Supplied

In a statement, Bunnings Managing Director Mike Schneider noted that upwards of 60 per cent of Australians are pet owners, who would welcome the news.

He added Bunnings is already welcoming of pets in its stores across the nation, a clear advantage it holds over Woolworths.

“What we are going to be bringing to life in our stores over the next four weeks is quite a comprehensive step change in our pet range, probably the biggest category expansion in Bunnings for 20 years,” he told The Australian.

“If you look at the last few years I think it is 60 per cent of Australians now own at least one pet, it has become a very important part of many, many families across Australia and we think that connection that people have with the Bunnings brand, bringing those pets into the store, creates a great advantage.”

Bunnings Managing Director Mike Schneider, pictured with his dog Henry, noted that upwards of 60 per cent of Australians are pet owners, who would welcome the news. Picture: Supplied

Mr Schneider said Bunnings will bring a “very competitive offer” into the estimated $10 billion industry.

“We believe Australians have a really deep passion for everything around their home and everything that’s in their home,” he said.

“And we do think we can bring a very, very competitive offer into this market and we think that given the sort of comfort that the customers have bringing their pets into the business it’s going to be a very good complementary category for us.”

After Bunnings confirmed the expansion, the market responded positively with its parent company Wesfarmers seeing a slight increase in its share price.

Its move to different growing markets is the biggest since it introduced kitchen fitouts two decades ago.