Edcon acquires controlling shares in Accessorize, La Senza and Inglot
Issued by Phatic Communications on behalf of: Edgars - Sep 12th, 08:32
Johannesburg, 10 September 2013 - Edcon has recently confirmed its acquisition of a controlling stake in the companies which hold the local franchise rights to Accessorize, La Senza and Inglot. The group’s acquisition is in line with Edcon’s current strategy to increase its branded content and introduce new international brands to its offering to the benefit of its customers.
CEO Jürgen Schreiber is enthusiastic about the acquisition, saying that the group is excited to introduce new high calibre brands to its growing portfolio. He further points out that acquisitions such as this one are based on extensive research around international trends and the wants and needs of customers, as well as the quality of the products in question and their pricing models. “We are careful in selecting brands that, based on our understanding and experience, are complementary to our own well-loved brands,” he adds.
Edcon’s latest acquisition will serve to strengthen its existing relationships with the above-mentioned entities. Indeed, Accessorize products are already sold in 20 different Edgars stores countrywide, while La Senza and Inglot are now available in 4 and 20 Edgars stores respectively.
With a unique market position as a globally inspired source of the most trendy international fashion accessories, Accessorize South Africa is a local franchise belonging to the highly successful Monsoon Accessorize London. The company boasts an extensive range of accessories and is constantly on the move with new seasonal themes relating to the latest trends. There are more than 1000 Accessorize stores across the world and 22 stand-alone stores in premier shopping malls across South Africa.
La Senza provides shoppers with the ultimate lingerie shopping experience, producing top-of-the-range lingerie, loungewear and accessories which are sassy, flirty and sexy. As
a part of Limited Brands, La Senza operates from more than 360 stores across the world and 15 stand-alone stores in South Africa.
INGLOT cosmetics are based on the simple objective to produce high quality colour cosmetics using the best possible ingredients at reasonable prices. To this end, all INGLOT products are manufactured in the company’s state-of-the-art production facilities in Poland bringing its customers the latest in new colour, texture and make-up trends. With its unique Freedom System, the brand enables clients to experiment with a wide range of product choises such that they can customise their own colour palettes. Importantly, no INGLOT products are tested on animals. INGLOT is sold in 400 different stores worldwide and six stand-alone stores in South Africa.
“We are thrilled to embark on this new venture and to be able to introduce our customers to a range of new international brands, offering a compelling and exciting shopping experience” concludes Schreiber.
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Plano, Texas – Shares of J.C. Penney Company took a beating on Friday after the retailer priced its $932 million share sale at a 7.4% discount and detailed its shrinking cash position.
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27/09/2013 - 13:00
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19/09/2013 - 10:24
New York – Saks Inc. plans to open seven new Saks Fifth Avenue Off 5th stores in 2014: The Outlets at Bloomfield in Pearl, Miss.; Potomac Mills in Woodbridge, Va.; Palm Beach Outlets in West Palm Beach, Fla; Outlet Shoppes at Louisville/Lexington, Ky.; Twin Cities of Eagan in Minneapolis, Minn.; The Mayfair Collection in Mayfair, Wis.; and Easton Gateway in Columbus, Ohio.
Truworths shares falls on sales drop
19/09/2013 - 09:57
Johannesburg - Truworths International Ltd., South Africa’s largest listed clothing retailer, fell the most in three weeks on concern that lending growth is slowing and as monthly retail sales in the continent’s biggest economy shrank.
US: Fresh & Easy acquired by Yucaipa; store closures on tap
11/09/2013 - 09:48
Los Angeles -- Grocery chain Fresh & Easy confirmed reports that its British parent Tesco LLC has sold the brand to private equity firm The Yucaipa Cos., following months of uncertainty about the 200+-unit chain’s future.