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The founder of retail giant JB Hi-Fi, John ‘JB’ Barbuto, has died aged 86.
Barbuto opened a humble record and sound system store in suburban Melbourne in 1974, a business that eventually grew into a multimillion-dollar retail empire, with 200 stores in Australia and New Zealand.
The music enthusiast’s family announced his passing “with great sadness” in a death announcement last week.
“JB will be sadly missed by all, but his legacy will live forever in every Australian home,” the family said.
‘JB, you’ve done it again!!!!’ the tribute said, echoing one of the store’s famous slogans. ‘Gone but not forgotten.’
Mr Barbuto was an Italian immigrant who moved to Australia when he was 15 years old. As a young man he worked in fruit shops.
John Barbuto outside the business he founded as a humble electronics store in Melbourne’s north-west suburbs in 1974.
The store got the name JB-Hi-Fi by combining its initials and what it wanted to sell, which was Hi-Fi, or high fidelity sound systems. Above, the original store in Keilor.
Inside the original JB-Hi-Fi store. The store’s distinctive fluorescent yellow style has never changed.
He opened his original JB Hi-Fi store in Centreway, East Keilor, in Melbourne’s north-western suburbs, in 1974.
Like the stores found in almost every major Australian shopping center today, the store was covered in yellow post-it notes.
The business pioneer leaves behind his wife Rita, three adult children and grandchildren.
“JB was a true trailblazer and trailblazer, funny, driven, passionate, authentic and one-of-a-kind,” read a tribute from a friend.
‘I loved our talks about the retail industry, HI-Fi sound, vintage cars and classical music.
“Thank you JB for creating the beautiful world JB that so many of us know and love, may you rest in peace.”
Barbuto’s legacy is one of Australia’s business success stories.
Barbuto had a simple philosophy: to offer a specialist range of Hi-Fi sound and recorded music products at the lowest prices in Australia.
His store got the name JB-Hi-Fi by combining his initials and what he wanted to sell, which was Hi-Fi.
Barbuto sold the business in 1983, just nine years after it opened, but it still carried his name. In 1999, nine more stores were opened.
The original JB-Hi-Fi store in Keilor on East in Melbourne, in a period archive photo
JB Hi-Fi as Australians know it better today
The business pioneer leaves behind his wife Rita, three adult children and grandchildren.
In July 2000, private equity bankers purchased JB Hi-Fi with the goal of taking the successful business model national.
Three years later, it went public.
In 2016, JB Hi-Fi expanded its portfolio when it acquired appliance store chain The Good Guys, but the two brands continue to trade under their own names.
JB Hi-Fi Australia is now a $5.3 billion company.
The JB Hi-Fi umbrella group, which includes The Good Guys, is a $7.92 billion company with more than 200 stores in Australia and New Zealand.
The store continues Barbuto’s original philosophy of being one of Australasia’s largest and fastest growing home entertainment retailers, selling at low prices.