Foschini Group to create 1000s more jobs with investment in clothing industry
Bruce Whitfield interviews Anthony Thunström, CEO of The Foschini Group (TFG).
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Bruce Whitfield interviews Anthony Thunström, CEO of The Foschini Group (TFG).
Great updates from Shoprite and horrible numbers from Massmart carry nearly the same certainty as death and taxes these days. Retail is a difficult game where small mistakes can become huge disasters later on. It becomes extremely difficult once you are on the back foot.
The acquisition will enable TFG to tap into Tapestry Home Brands' existing local manufacturing capabilities, which will be shared across the group.
Surprise deal for full control of Tapestry Home Brands will see the JSE-listed group increasing its share of the furniture, bedding and home décor retail market.
The Foschini Group (TFG) says it has entered into an agreement to acquire the entire issued share capital of Tapestry Home Brands for R2.35 billion.