Audiovisual, gaming and appliance distributor Monaco Corporation has shed about 18 positions after merging with the Australian arm of its Hong-Kong based parent company Shriro.
Based in Albany, north of Auckland, Monaco was established in 1978 as the sole distributor of Casio and Pioneer products and now also represents a number of brands including General Electric, Karda air conditioning, Mission hifi, Sega, Toshiba’s consumer electronics products and Ubisoft.
Shriro Australia CEO Michael Westrup says the merger earlier in the year was to maximise efficiencies and reduce duplication between roles on either side of the Tasman. Shriro was able to reduce back-office administration, sales and marketing roles at Monaco in New Zealand, Westrup says. The changes in roles have mostly been carried out in the past month, he says.
“Because the marketplace is competitive, you have to look at structures and see if you can get economies of scale and eliminate duplication. In areas like Australia and New Zealand, they are so close and the cultures are so similar.”
Shriro will now be able to offer a better service to Monaco suppliers and retailers, he says.
It will continue to assess Monaco Corporation’s suppliers in coming weeks, he says. The company plans to introduce the Everdure barbecue and heater product range to New Zealand, Westrup says, adding there is an opportunity to add more roles to support agencies brought across from Australia.
Monaco now has about 47 staff in New Zealand, he says.
Shriro was established in China in 1906 and now has offices throughout Asia and in Canada, as well as Australia and New Zealand