West Coast specialty chain Good Guys is creating a new dot-com company to spearhead its entry into e-commerce this spring.
The high-end, San Francisco-based retailer will take a 49.9% stake in the new entity, GoodGuys.com, which will be headquartered in Portland, Ore. in order to take advantage of the state's no-sales tax stance.
According to founder and chairman Ron Unkefer, "By creating a separate company dedicated to electronic commerce, Good Guys can reap all the benefits of a branded electronic commerce site without assuming the associated financial risks and obligations." Outside investors, including San Francisco-area venture capitalists and Good Guys management and board members, will provide the balance of the funding.
The site itself will be a fully authorized dealer of the brands it offers, and like its brick & mortar namesake will feature a broad selection of fully featured digital products, Internet-related appliances and high-end consumer electronics. The cyber store is expected to be fully operational sometime in the second quarter.
"GoodGuys.com is a logical extension of our position as the provider of choice for consumers who demand the most sophisticated high-tech consumer entertainment electronics," Unkefer said, noting that the start-up will leverage the "position, strong brand recognition, advertising and buying power of our brick & mortar stores."
The company currently maintains an informational site at www.thegoodguys.com, but is actively recruiting an experienced e-commerce technology partner to create and host the new cyber store. It expects to announce its choice by month's end.