The best -selling jackets and skirts are produced locally through TFG’s own design and manufacturing team.
Provided by The Foschini Group
- The CEO of Foschini Group announced that the retailer will launch a new “omni -channel platform”.
- While the group already has an e-commerce site for the brand, the new platform will also include other brands.
- During the presentation of the results TFG also pointed out its “local is lekker” and commitment to creating projects.
The Foschini Group (TFG) is planning a new “omni -channel platform” – which the CEO says will be a first for South Africa.
“The product catalog is all moved. This will make it a home for all other brands and businesses that want to use the TFG scale, bringing more than 200 of the world’s best brands and more than 2 000 new styles every week to one platform. To provide an unparalleled choice. the match between fashion and lifestyle items, ”CEO Anthony Thunström said during the announcement of the group’s results on Friday.
Thunström said the new platform will integrate all TFG brands, along with third -party vendors.
“We want to create the most incredible omni-channel experience for our customers. All I can say is ‘watch this space.'”
TFG launched a single online shopping platform with 17 brands – called myTFGworld.com – in 2018. The platform gives access to products from 17 TFG brands that currently trade online, including @home, Donna, Foschini, Markham, and Totalsports.
TFG also owns Markham, Jet, @home, and Swiss American, among other retail brands, and achieved double-digit growth in e-commerce turnover in all regions, recording an 18.0% increase in online sales in Africa, 13.8% in the UK and 26.9% in Australia.
TFG announced results for the year until the end of March on Friday. Turnover increased 32% to a record R43.4 billion compared to the previous financial year. Cash transactions account for almost 80% of sales, while online sales now account for more than 10% of total turnover. The gross profit margin increased to 48.5% as strong demand for TFG products resulted in a proportion of full price sales and a smaller decline. Headline earnings rose 442% to R3.3 billion.
‘Local is delicious’
“Locals are definitely lekker,” said group CFO Bongiwe Ntuli during the presentation of the results. “Our model has proven to be strong and adaptable to meet opportunities.”
In recent years, TFG has shifted manufacturing to South Africa, away from China, and more than 72% of the garments sold in the African market are now produced locally.
The fast response time of TFG’s local manufacturing operations helps deliver the desired product among its customers.
For example, Ntuli offers a combination of jackets and skirts, produced locally through the group’s own design and manufacturing team. The pleated skirt is now one of the best -selling at Foschini.
“We started with a test order of 1 200 units which sold well. We were then able to respond to that demand and have successfully resold back to 60 000 units over the course of the season through our quick response capability,” he said, adding himself. have bought in more than one color.
Foschini plans to invest R2.1 billion in capital next year, and will open 10 new manufacturing business units. This will help double its own plant, as well as related facilities, from 5,200 this year to 11,200 in 2026.
The founder and director of investment website JustOneLap.com, Simon Brown, says that the “local is lekker” approach will serve TGF well. However, for them the question is whether they do it within the same boundaries.
“It’s a challenge with locally made goods [compared to cheaper imports]”ujare.
Create a project
Thunström explained during his presentation that job creation, social performance, and sustainability are key components of TFG’s commitment to South Africa.
“In a country facing a staggering unemployment rate, we have added 7,176 jobs and opportunities in the workplace, shifted R2 billion more business to black -owned suppliers, set environmental commitments for cotton, wood and laundry labels and signed the Cotton Initiative more good. to source cotton sustainably. TFG has also become the only major retailer to achieve a Level 3 B-BBEE score, “he said.
Many of the projects created are related to the opportunities provided by the government’s master plan to develop the local garment manufacturing industry. For many participants, this was an entry to gain work experience and skills.
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