Kaddy Marketplace has announced a revamped business model triggered by its parent company – The Kaddy Group – entering administration on 4 May 2023.
Kaddy Marketplace’s ‘Kaddy Reborn’ initiative will offer a simpler business model, refreshed management team, wider range of products, more competitive pricing and improved application features for its suppliers and customers.
Kaddy CEO Steve Voorma and Singapore-based Lecca Group are leading the business initiative. Voorma undertook a strategic review of Kaddy after joining the company in October 2022. It resulted in the creation of two divisions: Kaddy Marketplace, a wholesale trading platform connecting trade buyers with beverage suppliers across Australia; and Kaddy Fulfilment, providing specialised B2B warehousing and logistics services to the Australian beverage industry.
Lecca is a regional investment holding company that focuses on food and beverage, distribution, logistics and reimagined retail and e-commerce. Its online alcohol delivery business Cellarbration is a leader in Singapore, with multiple outlets and one of the largest selection of wines, spirits, whiskies and beers.
Kaddy Marketplace will draw on Lecca’s strength in food and beverage to continue with what it describes as “its ambition of disrupting Australia’s alcohol wholesale and distribution market, where customers will have access to a wider range of high volume products at more competitive pricing, including globally recognised beers and spirits such as Corona, Budweiser, Peroni, Smirnoff, Absolut, Hendrick’s, Grey Goose, Gordon’s, Bombay Sapphire, Jim Beam and Jameson whisky”.
To further enhance its supply capabilities, Kaddy Marketplace said bottle shops and other retailers will soon be able to participate as suppliers on Marketplace to service to on-premise customers. Offering full flexibility, users will be able to choose to house their goods in their own or third party warehouses contracted by Kaddy Marketplace.
Selected customers will also be entitled to one of the longest credit terms in the market of up to 60 days, coupled with improved and integrated customer relationship management and point-of-sale systems.
Vorma said: “Our partnership with Lecca to relaunch Kaddy Marketplace fills us with both confidence and excitement. We have actively listened to the market and implemented a range of initiatives to enhance our offerings.
“With Lecca’s expertise, support and funding we have significantly strengthened our market position. This collaboration, coupled with our simplified yet enhanced business model, will enable us to deliver an unparalleled market offering, setting the industry standard for both suppliers and buyers.”
The initiative applies to Kaddy Marketplace only and is not representative of Kaddy Limited, which remains under administration. Shares in Kaddy had been in a trading halt since February.
The Australian Financial Review reported earlier this week that wine bars, restaurants, vineyards and liquor distributors around the country are “clamouring to retrieve millions of dollars worth of stock locked in warehouses” belonging to Kaddy.