Harvey Norman co-founder Ian Norman dies
May 29, 2014 Leave a comment
Harvey Norman co-founder Ian Norman dies
May 29, 2014 – 6:22PM
Eli Greenblat
Ian Norman, who teamed up with Gerry Harvey in 1982 to create the Harvey Norman retail chain that carries his name, has died. He was aged 75.
According to the most recent Harvey Norman annual report Mr Norman held 175 million shares in the company, valued at around $560 million.
A non-executive director of the furniture, bedding and consumer electronics group, Mr Norman first met Mr Harvey when they were both selling vacuum cleaners door-to-door.
Together, they opened their first store in Sydney in 1961, specialising in electrical goods and appliances.
Their initial success saw them establish a retail chain under the name Norman Ross which grew to 42 stores and sales of more than $240 million by 1979. The chain was sold in 1982.
The first Harvey Norman store was opened later that year in a new shopping centre in Auburn in western Sydney and listed in 1987.
The company said in a statement to the Australian Securities Exchange on Thursday that Mr Norman was an intensely private man and a generous philanthropist.
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