The Sydney Morning Herald is reporting that Ruslan Kogan wants to re-open Dick Smith as an online-only retailer, now that he has bought the company's customer and loyalty database, websites and domain names from receiver Ferrier Hodgson.
It says Dick Smith's online business accounted for only 8% of total sales, but bidding for the intellectual property was 'hotly contested'.
Kogan runs an existing online electronics business, kogan.com, which he founded in 2006 selling televisions online from the garage of his parents' house.
The 32-year-old entrepreneur is now worth an estimated $315 million.
"Dick Smith is one of the most iconic Australian retail brands and we will be able to leverage the millions of dollars we've invested into online retail systems and architecture over the last decade to sustainably run the business," Kogan told the Sydney Morning Herald.
Kogan said he would invest to rebuild consumer trust that was damaged after the company's collapse in January and make Dick Smith's online website "better than ever."
"Ultimately, a brand grows when it delivers on its promises. We will work tirelessly to exceed the expectations of every Dick Smith customer with a beautiful shopping experience," he told the Sydney Morning Herald.
Ferrier Hodgson is closing all of Dick Smith's bricks and mortar stores and liquidating stock, but the online business remains stable, with the receivers buying in new stock.
Nearly 3000 staff lost their jobs as a result of the collapse of the Dick Smith chain, including 430 in New Zealand.
