Stephen Tindall is very passionate about the success of the New Zealand economy. He believes a successful economy is achieved from a culture that wants to be more enterprising. This enterprising spirit can start with children at a young age by completing simple tasks such as handling money and setting up small stalls.
Tindall was exposed to business early in life and has always had an entrepreneurial streak. His first job was at home completing household chores for pocket money, then going on to mow lawns for neighbours.
At the age of 14, Tindall worked at a local store delivering groceries and then helped his father at the hardware store. He also had a holiday job at the Reserve Bank, with a friend, where they drilled holes into old notes. His first job out of school was at his Great Grandfather’s company, George Court & Sons, where he worked for 12 years.
Tindall spent five years part-time at the Auckland Institute of Technology and gained a NZIM Management Diploma and New Zealand Institute of Purchasing and Supply Diploma.
Tindall had an idea in his head about opening The Warehouse, but needed to raise $40 000 to make it a reality. A strong believer in not borrowing, he sold his caravan, cashed in his superannuation, and downgraded his wife’s car to raise the capital.
He opened the first Warehouse store in Takapuna in 1982. Despite strong opposition from other local retailers, Tindall’s passion resulted in getting three stores up and running within six months.
From its early days, The Warehouse prided itself on the way it treated both its staff and customers. The company’s success can be attributed to its mission statement:
Where People Come First and Quality is Affordable.
It’s this style of management that has allowed The Warehouse to grow from a single store in Takapuna to 86 Warehouse stores and 46 Warehouse Stationery stores nationwide. It now has annual sales in excess of $1.6 billion.
The Warehouse’s philosophy of making the desirable affordable has made The Warehouse a Kiwi institution. From the outset, consumers liked The Warehouse because the goods were so much cheaper and this meant it was able to give people more value for their money.
Not only does The Warehouse continue to strive to bring prices down and enable people to have a better standard of living, but the company is also committed to giving back – to the environment and the community.
In 1994 The Warehouse shares were sold on the New Zealand Stock Exchange. Tindall then held the position of Managing Director until January 2001, when he decided to step back from the company to do a lot more for the community. Although he did return to The Warehouse for a brief time in May 2003, he has since left, and now dedicates his time and passion to giving to others.
A passionate and patriotic New Zealander, Tindall loves the Kiwi lifestyle and believes New Zealand is the best place on earth to live.
With his wife Margaret he set up a family trust called the Tindall Foundation in 1995. The Tindall Foundation is driven by a desire to support initiatives in New Zealand that assist families and communities to help themselves.
When the Tindall Foundation first began, it got flooded with applications. It’s now more strategic in its funding, and looks for entrepreneurs and innovators doing great things in the community that will make New Zealand a better place for the future.
The Tindall Foundation has six different programme areas:
Anyone can apply for a donation from the Tindall Foundation as long as the request falls in one of the above six categories. The Foundation has paid out over $100m to date.
Vision
The vision for The Tindall Foundation is to play a supportive role in the philanthropic sector in New Zealand. The Foundation collaborates with others working in this field, as well as drawing on the knowledge, professionalism, and expertise of the not-for-profit sector in the allocation of its donations.
As well as the Tindall Foundation, Tindall is heavily involved in several other ventures working for the good of others.
One of these ventures helps young New Zealand entrepreneurs to access capital in order to get their businesses started. Tindall invests in early stage businesses that have potential to improve New Zealand’s export earnings. He believes in businesses that are based around sustainability, and sees great value in New Zealand having a national vision that focuses on high quality and high premium products.
KEA
Tindall has also helped to shape the future of our economy through his involvement in setting up KEA (Kiwi Expat Association). KEA is New Zealand's global network that connects Kiwis with more than 25 000 other talented Kiwis and 'friends of New Zealand' around the world.
The organisation is building a global network to help New Zealand based organisations and individuals to pursue global opportunities, as well as citizens of other countries who have an affinity and interest in connecting with New Zealand.
KEA is helping grow the New Zealand economy through international trade and investment, and helping to build New Zealand’s brand and reputation on the world stage.
After his very successful corporate career as the founder of The Warehouse, Tindall is now committed to helping others in New Zealand. Philanthropy is growing in New Zealand and there are nearly 25 000 registered charities.
Published on: 09 Apr 2015
