Dick Smith's new fashionable technology chain

Retailer Dick Smith has turned to fashion in an effort to avoid rampantly discounting high-end technology products.

The company unveiled its new Move concept store last night, which presents premium technology products – such as smartphones, speaker docks and cameras – as fashion accessories.

Dick Smith and Move chief executive Nick Abboud told CRN the new 'fashtronics' segment will help the company retain profit margins. He compared the Move shopping experience to "going into an Apple store".

“We think it’s a first in the world, where you bring fashion and technology to a consumer. We want the young consumer who wants to spend on the latest in technology."

To compete with price-cutting rivals, Move will focus on adding value by delivering a personalised customer experience, Abboud said, while the company's buying power will help keep prices attractive.

"The buying power that we have allows the consumer to get a competitive price, but the overall experience with the staff is what will add value."

To ensure Move is perceived as a premium brand, it is being operated separately from keen discounter Dick Smith.

"We believe that they are separate and that's why we have a separate team for each.

"It’s important that you get passionate about that brand and create its own DNA. It’s important that I have different leaders running different businesses."

Leading the move business will be director Michael Dykes, whose previous employers include retailers Dick Smith, Dixons and Best Buy.

Move's first store will be opened on 5 September in Westfield Bondi, followed by a second concept store in Melbourne. Abboud hopes Move will continue to grow "into high-fashion locations in Australia that is similar to Bondi".

On Anchorage Capital's sale of Dick Smith, Abboud could not comment. He did, however, confirm he has made "a personal investment in the company".