US parent company Savers Value Village is worth $2.2 billion and owns 19 stores in Australia
The Savers brand in Australia belongs to a US corporation valued at $2.2 billion, which operates over 300 second-hand stores globally. This entity faces criticism for operating as a profit-driven business while competing with non-profit charity groups.
Critics argue that Savers Australia uses a charitable front to mask its profitable operations. The retailer is a subsidiary of the American company Savers Value Village (SVV), which holds shares listed on the New York Stock Exchange and is majority owned by private equity firm Ares Management. SVV serves as North America's largest for-profit second-hand retailer, maintaining 185 locations in the United States and 172 in Canada. Financial data from Refinitiv indicates the group earned more than $300 million last year. IBISWorld analytics suggests these larger retailers outperform smaller non-employing competitors primarily through economies of scale. The parent company enjoys a gross profit margin of 50%, significantly higher than industry averages. Currently, Savers Australia runs 19 stores. A new location recently opened in Geelong, Victoria, drawing a queue of approximately 100 customers within 24 hours on August 27. In Australia specifically, Savers competes directly with non-profit organizations such as Vinnies and Salvos.
