Woolworths, Australia’s top retailer, and the first Australian retailer to break into the top 25 global retailers list, wants to expand globally. Woolworths has had an interest in Asian opportunities for many years but has bided its time, realistically only setting foot outside Australia in a notable way in the past two years with the Progressive Enterprises takeover and a joint venture alliance in India.

Former Woollies CEO, Bernie Brookes, who now heads Myer, did extensive research of the New Zealand and Asian markets. His work was central to Woolworths’ acquisition of Progressive Enterprises and the 2006 formal alliance with the Tata Group in India. Michael Luscombe, the current CEO, continues on Brookes' path, keeping a close watch on overseas markets and opportunities. The company wants to maintain its growth momentum of recent years.

The current play on the table is New Zealand’s Warehouse Group. While Woolworths has pushed the formal barriers to a takeover offer in the courts, the retailer is aware that the acquisition is problematic. Any change of ownership for the Warehouse Group, which has close to 90 discount stores and more than 40 stationery shops in New Zealand, will rely on its founder Stephen Tindall, who controls 52% of the company’s shares. Analysts, however, speculate that Tindall, will sell for the right price.

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