History
Coles was founded by George James (G.J.) Coles when what was called the "Coles Variety Store" opened on 9 April 1914 in Smith Street in the Melbourne suburb of Collingwood. Expansion to more stores occurred and the chain was regarded as leaders in providing value to Australian shoppers (G. J. Coles learned the retail trade working for his father's "Coles Store" business at Wilmot, Tasmania between 1910 and 1913).
Coles' interest in food retailing was spurred in 1958 when it acquired 54 John Connell Dickins grocery stores. It then acquired the Beilby's chain in South Australia in 1959 and 265 Matthews Thompson grocery stores in New South Wales in 1960.
In 1960 the first supermarket was opened in the Melbourne suburb Balwyn North, at the corner of Burke and Doncaster Roads where a modernised version continues to operate. By 1973 Coles had established stores in all Australian capital cities.
From 1962 its supermarkets were branded Coles New World with accompanying rocket imagery. In 1991 the stores were rebranded Coles Supermarkets and from 1998 simply as Coles.
From mid 2006, many BI-LO supermarkets were badged as Coles Supermarkets. Newmart supermarkets, under which BI-LO traded in Western Australia, were badged as Coles Supermarkets in 2002-2003. Newmart stores co-located with Coles in the same area or shopping centre were sold to Foodland and re branded as the now-defunct Action Supermarkets chain. The conversion program was put on hold at Easter 2007.
On 2 July 2007, Western Australian based company Wesfarmers agreed to purchase Coles Group Limited for A$22 billion. The purchase was completed in early 2008.
In August 2007, as Wesfarmers foreshadowed its plans for the restructuring of Coles Group following its anticipated takeover, it stated that one of three planned divisions would comprise supermarkets, liquor and convenience stores.
In February 2008, Wesfarmers appointed UK retailer Ian McLeod as managing director of Coles Supermarkets plus liquor, fuel and convenience businesses. McLeod's previously headed UK car parts and cycle retailer Halfords and gained supermarket experience with Asda and Wal-Mart.
In 2008, the I Test For Coles Panel (or Coles Mums' Panel) began, with 2,500 panelists testing Coles brand products in their home and providing general feedback about Coles.
In February 2011, Coles acquired National Australia Bank's 50 per cent interest in Australia's largest loyalty program FlyBuys, giving it 100% ownership.
In September 2011, Coles commenced stocking private label clothing in their stores with several stores receiving refits to accommodate the range.
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