TFG Limited, also known as The Foschini Group, is a South African
JSE listed retail clothing group, which trades under various brands and has more than 3,000 stores within its portfolio.
It is headquartered in
Parow East near
Cape Town
Cape Town ( af, Kaapstad; , xh, iKapa) is one of South Africa's three capital cities, serving as the seat of the Parliament of South Africa. It is the legislative capital of the country, the oldest city in the country, and the second largest ...
.
In 2015, the company acquired the British apparel chain
Phase Eight from
TowerBrook Capital Partners
TowerBrook Capital Partners, L.P. is an investment management firm headquartered in London and New York City. TowerBrook spun out of Soros Fund Management in 2005 and became known for acquiring majority stakes in companies such as Jimmy Choo. M ...
, then valued at £300 million.
In March 2016, TFG acquired the British chain
Whistles with its 46 retail shops.
In 2017, the company acquired Australian retail company
Retail Apparel Group from Navis Capital Partners.
In March 2020, TFG announced that, during the on-going
COVID-19 pandemic
The COVID-19 pandemic, also known as the coronavirus pandemic, is an ongoing global pandemic of coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The novel virus was first identi ...
, the company would cease to pay rents for its retail locations during the
resultant lockdowns in South Africa.
Edcon
Edcon Limited was a retail company based in Johannesburg, South Africa. Its subsidiaries included Edgars, a department store with 203 branches. In 2020, the Competition Tribunal approved the sale of the Edgars division to Retailability (pty) ...
, further expanding their footprint as a retail conglomerate.
On 5 October 2021, it was reported that TymeBank would open approximately 600 banking service kiosks in TFG retail outlets in 2022.
Through a series of investments, TFG has increased its manufacturing capacity in South Africa. By November 2021, it was producing almost three quarters of its apparel locally.
References
External links
Clothing companies of South Africa
Companies based in Cape Town
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