The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
South African budget retailer Mr Price Group has received all approvals to acquire retailer Power Fashion in a deal likely to top $105 million, according to a Reuters report.
The budget clothing and homeware retailer said the acquisition, which would expand its market share in budget retail, would be effective this month.
Power Fashion is the trading name of Otto Brothers Distributors Pty Ltd, which was founded by the Otto family some 65 years ago in Eswatini (then called Swaziland) as a general store that also sold clothing and footwear.
Today, Power Fashion has a national footprint in South Africa and neighbouring countries Lesotho and Eswatini, with a total of 170 stores. The chain’s stores are typically located in central business district high streets and in township malls.
This week’s round-up of global markets fashion business news also features Latin American mall giants, Nigerian craft entrepreneurs and the mixed picture of China’s luxury market.
Resourceful leaders are turning to creative contingency plans in the face of a national energy crisis, crumbling infrastructure, economic stagnation and social unrest.
This week’s round-up of global markets fashion business news also features the China Duty Free Group, Uniqlo’s Japanese owner and a pan-African e-commerce platform in Côte d’Ivoire.
Affluent members of the Indian diaspora are underserved by fashion retailers, but dedicated e-commerce sites are not a silver bullet for Indian designers aiming to reach them.