Terry Smart the CEO of JB Hi Fi would be $1M dollars richer today if he had taken a bet with Ruslan Kogan the loud mouth online bragger from Melbourne who loves throwing parties in Vegas for Australian journalists.
Three years ago this month Kogan who at the time was desperate to generate publicity for his online store claimed that Apple would be out of retailers stores in under three years and that they would soon stop letting third-party retailers like JB Hi Fi sell its products, including the popular iPhone and iPad.
Well I have news for you Mr Kogan you were wrong and like a lot of your bragging comments your insight has been proven to be nothing but hot air.
Apple sales at JB Hi Fi, Dick Smith and Big W are booming and Apple are as happy as a pig in shit that their retail partners are delivering them bucket loads of sales.
Click to enlarge: This image has not been digitally altered. |
| Rulan Kogan of Kogan Technology |
At the time Australia’s most rambunctious entrepreneur in an effort to make his point, challenged JB Hi-Fi boss Terry Smart to a wager that Apple products will disappear from his stores within three years.
The bet was that there will be no Apple hardware for sale at JB Hi-Fi stores by March, 2014,” Mr Kogan said at a Gold Coast Tech Conference.
At the time he said “Although I believe that Apple hardware also won’t be for sale at other third-party retailers, this bet is specific to JB Hi-Fi because it was Terry Smart who attacked my credibility last week.”
At the time Kogan and Smart traded barbs over how much of JB Hi-Fi’s sales came from Apple products. Mr Kogan put the figure at 30 per cent. Mr Smart said that was “way off”.
When asked by news.com.au if the wager was a media stunt, Mr Kogan said: “If this was a media stunt then I would have just purchased $1 million worth of advertising space.”
Mr Kogan said his prediction that Apple would lock out resellers was based on “personal insight” and financial advice. He said he had not spoken to anyone at Apple about the matter.
The wager was included in an open letter to JB Hi-Fi shareholders from Mr Kogan at the time.
Mr Kogan why don’t you put your big fat wallet where your mouth is and donate 10% of your bet to a charity of Mr Smart’s choice.
This will prove that you at least had intent at the time and were not just blowing hot air in an effort to get some self-publicity.
