TFG Limited

TFG Limited
Company type
Public
JSE: TFG
IndustryRetail
Founded1924; 102 years ago (1924)[citation needed]
Headquarters
Cape Town, Western Cape
,
South Africa
Number of locations
3,000+
Area served
Africa
UK
Australia
Key people
Michael Lewis (Chairman)
Anthony Thunström (CEO)[1]
RevenueIncrease R 34.1 billion (2019)[2]
Number of employees
29,121[2]
Subsidiaries
Phase Eight
Whistles
Retail Apparel Group
Markham
Sportscene
Totalsports
Foschini
Fabiani
Hi
@home
Donna
Duesouth Escapes
Exact
Foschini For Beauty
MyTFGworld
Archive Store
the FIX
Jet
Coricraft
Bash
Websitewww.tfglimited.co.za

TFG Limited (commonly known as TFG, and formerly The Foschini Group) is a South African retail clothing group, which trades under various brands, and has more than 3,000 stores within its portfolio.[3] It is headquartered in Cape Town.

In 2015, the company acquired the British apparel chain Phase Eight[4][5] from TowerBrook Capital Partners, then valued at £300 million.[6]

In March 2016, TFG acquired the British chain Whistles with its 46 retail shops.[5] In 2017, the company acquired Australian retail company Retail Apparel Group from Navis Capital Partners.[7]

In March 2020, TFG announced that, during the on-going COVID-19 pandemic, the company would cease to pay rents for its retail locations during the resultant lockdowns in South Africa.[3][8]

During the course of 2020, TFG acquired the chain of Jet stores from an ailing Edcon, 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.[9][10]

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.[11]

See also

References

  1. ^ "TFG CFO Anthony Thunström now CEO". CFO South Africa. 14 March 2018. Retrieved 23 March 2019.
  2. ^ a b "Annual Report 2019" (PDF). Retrieved 22 June 2020.
  3. ^ a b Naidoo, Lauren (30 March 2020). "TFG insists it won't pay April rent due to lockdown". moneyweb.com. Retrieved 6 June 2020.
  4. ^ Roberts, Lauretta (7 March 2016). "Jigsaw and Whistles "in sale talks"". The Industry. Archived from the original on 10 April 2016. Retrieved 8 March 2016.
  5. ^ a b Farrell, Sean; Butler, Sarah (24 March 2016). "Whistles bought by South Africa's Foschini Group | Business | The Guardian". The Guardian. theguardian.com. Retrieved 24 March 2016.
  6. ^ Armstrong, Ashley (15 January 2015). "Phase Eight sold to South African retailer Phase Eight sold for £238m". The Telegraph. Retrieved 4 June 2020.
  7. ^ "The Foschini Group snaps up IPO hopeful RAG for $302m". Australian Financial Review. 25 May 2017. Retrieved 10 February 2020.
  8. ^ Mahlangu, Kagiso (7 May 2020). "Big standoff between retailers and landlords looms". bizcommunity.com. Retrieved 6 June 2020.
  9. ^ Theunissen, Garth (5 October 2021). "TymeBank to roll out 600 kiosks at TFG stores". BusinessLIVE. Retrieved 4 November 2021.
  10. ^ Theunissen, Garth (5 October 2021). "TymeBank to roll out 600 kiosks at TFG stores" (PDF). BusinessLIVE. Retrieved 4 November 2021.
  11. ^ Shevel, Adele (18 November 2021). "TFG's mission to buy local, and make local". BusinessLIVE. Retrieved 22 November 2021.

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