Publications
Partners
TFG, owner of the JET Home, Coricraft and Dial-a-Bed chains, is doubling down on its expansion into homeware in SA, with plans to open about 230 new stores in the lucrative segment over the next three years.
Even as the South African consumer comes under increasing financial pressure amidst rising inflation and interest rates, the group believes its reliance on local manufacturing for 50% of the goods its produces in this segment will cushion it against surging shipping costs and help keep its pricing competitive against imports.
The company - which owns the Foschini, Sportscene, Totalsports and Sneaker Factory brands - is also continuing its major expansion into the clothing and footwear segments, with CEO Anthony Thunstrom saying an interview with News24 on Friday that the group would be earmarking more than R1 billion in capex for store expansions across homeware and clothing over the next few years.
