Harris Technology is building on its recent sales momentum by expanding its product offerings.
In an ASX announcement, the company revealed it would expand its IT and consumer electronics product offering through its recent $5 million capital raising held in August and September, as well as increase its overall product purchasing.
Harris will also start selling homeware and kitchenware to its online business. The company did not provide specifics but said the new division will initially be exclusive to Amazon Australia, with other e-commerce platforms to come.
Harris has also reached an agreement with two more Australian online marketplace platforms, namely Groupon and Mydeal.
Reflecting on its performance, Harris reported sales revenue of $3.3 million in August 2020, a 411 percent increase year over year from $650,000 in 2019.
The company credited strong sales from its Pro-Hygiene division, which saw growth during the Victorian government’s reimposition of COVID-19 restrictions. However Harris directors expect sales from the division to taper off as restrictions start to lift across Australia.
Harris chief executive Garrison Huang said, “[Harris Technology] was able to seize the business opportunity in light of the Victoria COVID-19 second wave in its Pro-Hygiene business. The business delivered about $1.4 million revenue in July and August.”
“Our online IT/consumer electronics business is also experiencing strong growth year on year. [Harris] has expanded product coverage into mobile phones and accessories, The company is also entering brand new product categories of homeware and kitchenware.”
“We are very confident that [Harris Technology] will continue its growth post-COVID.”