From Fisher & Paykel to Swandri to Kathmandu, New Zealand's most iconic brands have been sold to international capital over the past 25 years. A viral social media post has reignited a painful national debate: did NZ squander its manufacturing future for short-term cash?
"Fisher & Paykel could have been Samsung," one online commenter wrote, capturing the sentiment. "But we chose quick money over long-term development."
The litany of lost brands reads like a eulogy for New Zealand's industrial ambitions. Fisher & Paykel, the appliance manufacturer that pioneered innovations like the direct-drive washing machine motor and the DishDrawer, was sold off. Swandri, the rugged outdoor clothing brand that could have become an international name, was sold. Kathmandu and Macpac, backpack and outdoor equipment makers, were sold.
Even food brands haven't escaped. Mainland cheese, L&P, Bluebird chips—all now owned by multinational corporations. And according to longtime consumers, the quality has nosedived.
"I still have a F&P washing machine from the '90s that works perfectly," one New Zealander shared online. "But my F&P dishwasher from five years ago has already broken down. They're not the same company anymore."
Mate, this is the Pacific story in microcosm. Small nations with innovative companies, world-class engineering talent, and genuine competitive advantages—selling it all off for quick returns, then wondering why they're economically dependent on exporting raw commodities.
Fisher & Paykel's direct-drive motor was ahead of its time. The engineering brilliance was there. The market opportunity was there. But instead of building 's answer to or , successive governments and business leaders chose the easy money of foreign buyouts.
