Historic link with growth of N.Z.

Press, 1 September 1977, Page 11

Historic link with growth of N.Z.

Few New Zealand businesses can boast a history in the country as long as that of L. D. Nathan and Co., Ltd. The company’s founder, Mr David Nathan, first established an early trading company in the Bay of Islands and had the business operating when : Governor Hobson prol claimed the colony as a I British possession in 1840. But in 1841, with the

recently-established town Auckland beginning to boom, the company moved its operation there. The company grew as Auckland did and was associated with many trade developments throughout the century. As New Zealand grew and established itself as one of the world’s trading nations, so did L. D. Nathan. Today, L. D. Nathan and Co., Ltd. has a turnover in excess of $2OO million per annum and employs some 3500 people. The name L. D. Nathan is now known nation-wide.

The fancy goods division of the L. D. Nathan Group forms an important segment of the group’s activities and is a substantial contributor to its profitability. During recent years, the division has consolidated its position as one of the principal importers and wholesale distributors of fancy goods in New Zealand.

With the development of its agency appointments and the acquisition of a number of importing companies, the division has surged ahead and now offers a wide range of merchandise plus a total service to its steadily increasing group of customers.

In a need to relate to today’s economic realities of high inflation and escalating costs, the division has embarked on a major change from its traditional trading structure which sees its independent companies merged into a single company entity.

Effectively, the trading, management and accounting services expressed previously' through the autonomous trading companies are now centralised in Auckland. The division will now trade as L. D. Nathan (Wholesale), Ltd, operating under the direction .of a chief executive and managing its activities through four sections — merchandise, finance, operations and marketing.

At the same time, it was decided that warehouse facilities should be relocated to enable the servicing of the whole country more quickly and effectively.

The programme sees a consolidation of stockholding in the Auckland provincial area, an enlargement of the Wellington premises and the opening of a new warehouse complex in Christchurch to accommodate the growing business handled in the South Island.