CAPE TOWN, South Africa — Woolworths Holdings Ltd. of South Africa is using a $2 billion takeover of Australia’s David Jones Ltd. to challenge fashion retailers Inditex SA, Hennes & Mauritz AB and Fast Retailing Co. in the southern hemisphere.
SYDNEY, Australia — South African retailer Woolworths Holdings Ltd is set to buy Australia's second-largest department store David Jones for $2 billion, trumping an offer from Australian rival Myer Holdings Ltd with a hefty premium.
GENEVA, Switzerland — Cie. Financiere Richemont SA, the owner of the Cartier brand, fell the most in more than two months after Chairman Johann Rupert said he’s very concerned that the global economy is in a precarious position.
In our latest BoF feature on South African fashion, we expose the hurdles that will need to be addressed for the country to take its place on the global fashion circuit. For now, the local scene appears to lack the necessary coordination and structure upon which a sustainable fashion industry can be built. JOHANNESBURG, South Africa — The past eight years have seen South Africa’s thirst for a culture of fashion quenched by