Telstra is set to buy back its retail stores from long-time landlord Vita Group and other independent store owners in a move to keep pace with the digital economy, the telco said.
The telco currently controls 67 Telstra stores, a further 166 branded stores run by independent licensees and 104 stores are operated by Vita Group Limited.
Telstra’s head of consumer and small business Michael Ackland said the move was required to “keep pace with the growing digital economy” and give the telco more flexibility to respond to customer needs.
“This was not an easy decision given that we have enjoyed a long-term partnership with many of our licensees,” Ackland said.