Online retailer Kogan buys replica furniture company Matt Blatt after coronavirus pandemic store closures [Video]

Online shopping trader Kogan has bolstered its furniture and homewares offering by acquiring retailer Matt Blatt for $4.4 million.

The furniture seller – best known for its replica designer pieces that sell for much less than the real thing – was forced to seek a buyer after it was hit by losses during the coronavirus pandemic.

It closed 12 bricks and mortar showrooms in March and in April reached out for a new buyer.

Matt Blatt collected $46.5 million in revenue last financial year, and up to 25 per cent came from online sales.

Adam Drexler, owner and manager of Matt Blatt furniture stores, pictured in 2011. (Peter Rae)

Chief executive Ruslan Kogan said Matt Blatt would now be an online-only operation.

The acquisition, which was funded from cash reserves, will help Kogan extend its reach into the furniture and homewares market.

Matt Blatt will continue to trade through its own website.

Watch/Read More

Ecommerce In this footage, hens advance upon an Amazon driver, who makes a fast exit. The hens pursue him to the driveway, then stand guard lest he return.