Kmart and Target are set to be merged into a retail dual-brand giant.
Both brands are owned by Wesfarmers but Target will be folded into Kmart to create a single $10 billion business.
The Advertiser reports that even though the two brands would merge nothing much will change from a customers perspective.
Both Target and Kmart will retain their names and stay as separate stores.
“The announcements today are an internal reorganisation of our support offices and there are no impacts to the Kmart or Target stores,” Ian Bailey, Kmart Group’s Managing Director said in a statement.
“For store networks and 50,000 store team members – it’s business as usual – as we continue to focus on providing the best value products to the thousands of customers in Australia and New Zealand who choose to shop at Kmart or Target every day.”
The Australian Financial Review reported on Monday that if Target and Kmart were to combine they would be worth an estimated $10 billion so that possibility is now a reality.
But the most important thing is that this is purely a behind-the-scenes change.
You will still be able to shop at Kmart and Target as usual for the foreseeable future.