Shoppers browsing their favourite fashion chains may soon notice big retail changes.
More than 460 clothing and homeware stores across Southern Africa are about to get new ownership, after regulators gave the green light to a major retail merger.
The deal pulls together well-known brands under one of the region’s largest retail groups, and it comes with strict conditions to protect jobs and suppliers.
Pepkor gains more brands
Retail giant, Pepkor will be adding more brands under its umbrella after the Competition Tribunal conditionally approved the sale of several Retailability businesses, including Legit, Style, Swagga (with Beaver Canoe), and Boardmans.
These will be absorbed into Pepkor’s Speciality division, adding scale to its existing stable of brands like Tekkie Town and Shoe City.
Approval came with several strings attached, however, including no retrenchments tied to the merger, and workers being allowed to keep their current employment terms.
Not part of the deal are Edgars, Edgars Beauty, Red Square, Kelso, and Keedo, which will stay with Retailability.
Pepkor, already the largest clothing retailer in South Africa with more than 5 800 stores across 10 African countries, will use the acquisition to strengthen its position in adult fashion, particularly womenswear through Legit, and expand homeware offerings via Boardmans.
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