Foschini planning huge Africa expansion

Johannesburg - Fashion retailer The Foschini Group [JSE:TFG] aims to almost triple the number of its stores across the rest of Africa over the next five years, its chief executive said on Tuesday.

Foschini is the biggest reseller of Adidas and Nike products in South Africa where it is the No.3 clothes retailer by market value and operates more than 2 000 stores.

It currently has about 130 outlets on the continent outside it home market, mostly in southern African countries including Namibia, Lesotho and Botswana. But CEO Doug Murray said the company planned to up that number to around 350 by 2020.