What is JB Hi-Fi?
JB Hi-Fi is an Australian retailer of consumer electronics, home appliances, music, movies and games. Founded in 1974 in Keilor, Melbourne, by John Barbuto, it is now one of the country's largest retailers.
The name JB comes from the initials of founder John Barbuto. The first store sold hi-fi equipment and records, and the company built a reputation for discount prices.
JB Hi-Fi expanded rapidly from the late 1990s and listed on the Australian Securities Exchange in 2003. Its stores are known for their bright yellow signage and handwritten-style price tags.
The Good Guys
In 2016, JB Hi-Fi bought The Good Guys, a chain of home appliance stores, expanding its range of whitegoods and kitchen products. The company also operates stores in New Zealand.
JB Hi-Fi has been one of Australia's most successful retailers, achieving strong sales despite competition from online sellers. Its stores attract large crowds during sales and for major product launches, such as new gaming consoles.
The company has adapted to changes in entertainment, as physical music and movie sales declined, by focusing on technology, mobile phones, appliances and accessories.
Did You Know?
JB Hi-Fi stores are known for their busy, warehouse-style layout.