Latest news with #PieterErasmus
Fashion Network
2 days ago
- Business
- Fashion Network
Pepkor's fashion chain Ayana aims for hundreds of stores in South Africa
Recently launched fashion chain Ayana could have hundreds of stores, the CEO of its owner Pepkor told Reuters, as the South African retailer targets trendier customers and embraces the fast-fashion model of some rivals. Pepkor, the owner of the budget Pep and Ackermans clothing chains, is underrepresented in the adult clothing market, especially womenswear. Recently, it expanded into that market by acquiring fashion businesses such as Legit, Style, and Swagga. It launched 32 Ayana stores in February by converting discontinued Ackermans womenswear stores. The brand is more fashionable than Pepkor's core chains and aims to refresh its ranges more frequently, with some shoppers comparing its style and store layout to Inditex -owned Zara. "This is not like a thousand-store chain. It will be, I suppose, a couple of hundred if it's really successful, maybe two or three hundred," Pieter Erasmus, chief executive officer of Pepkor, told Reuters on Tuesday. Ayana targets fashion-conscious young women with its waistcoats, bow mini dresses, and collarless jackets, "but at a price which is affordable," Erasmus added, compared to international brands like H&M. "Customers have responded well in the store, in sales, but also on social media. So we think that there's an opportunity for this brand in South Africa to do, again, I don't like using this word 'Zara-type' aspirational (fashion)," he said. He added that Ayana was also trying to tap customers who "are currently buying from some Chinese (retailers like) Shein. There's an opportunity to really address that. So we're going to put a big effort into it." Online-only retailers Shein and Temu have grown rapidly by shipping inexpensive products directly to consumers, forcing local retailers to find new ways of differentiating themselves. Ayana currently sources its stock from Asia, particularly China, and locally in order to respond faster to changing trends, Erasmus said. ($1 = 17.9112 rand)
Fashion Network
2 days ago
- Business
- Fashion Network
Pepkor's fashion chain Ayana aims for hundreds of stores in South Africa
Recently launched fashion chain Ayana could have hundreds of stores, the CEO of its owner Pepkor told Reuters, as the South African retailer targets trendier customers and embraces the fast-fashion model of some rivals. Pepkor, the owner of the budget Pep and Ackermans clothing chains, is underrepresented in the adult clothing market, especially womenswear. Recently, it expanded into that market by acquiring fashion businesses such as Legit, Style, and Swagga. It launched 32 Ayana stores in February by converting discontinued Ackermans womenswear stores. The brand is more fashionable than Pepkor's core chains and aims to refresh its ranges more frequently, with some shoppers comparing its style and store layout to Inditex -owned Zara. "This is not like a thousand-store chain. It will be, I suppose, a couple of hundred if it's really successful, maybe two or three hundred," Pieter Erasmus, chief executive officer of Pepkor, told Reuters on Tuesday. Ayana targets fashion-conscious young women with its waistcoats, bow mini dresses, and collarless jackets, "but at a price which is affordable," Erasmus added, compared to international brands like H&M. "Customers have responded well in the store, in sales, but also on social media. So we think that there's an opportunity for this brand in South Africa to do, again, I don't like using this word 'Zara-type' aspirational (fashion)," he said. He added that Ayana was also trying to tap customers who "are currently buying from some Chinese (retailers like) Shein. There's an opportunity to really address that. So we're going to put a big effort into it." Online-only retailers Shein and Temu have grown rapidly by shipping inexpensive products directly to consumers, forcing local retailers to find new ways of differentiating themselves. Ayana currently sources its stock from Asia, particularly China, and locally in order to respond faster to changing trends, Erasmus said. ($1 = 17.9112 rand)
Fashion Network
2 days ago
- Business
- Fashion Network
Pepkor's fashion chain Ayana aims for hundreds of stores in South Africa
Recently launched fashion chain Ayana could have hundreds of stores, the CEO of its owner Pepkor told Reuters, as the South African retailer targets trendier customers and embraces the fast-fashion model of some rivals. Pepkor, the owner of the budget Pep and Ackermans clothing chains, is underrepresented in the adult clothing market, especially womenswear. Recently, it expanded into that market by acquiring fashion businesses such as Legit, Style, and Swagga. It launched 32 Ayana stores in February by converting discontinued Ackermans womenswear stores. The brand is more fashionable than Pepkor's core chains and aims to refresh its ranges more frequently, with some shoppers comparing its style and store layout to Inditex -owned Zara. "This is not like a thousand-store chain. It will be, I suppose, a couple of hundred if it's really successful, maybe two or three hundred," Pieter Erasmus, chief executive officer of Pepkor, told Reuters on Tuesday. Ayana targets fashion-conscious young women with its waistcoats, bow mini dresses, and collarless jackets, "but at a price which is affordable," Erasmus added, compared to international brands like H&M. "Customers have responded well in the store, in sales, but also on social media. So we think that there's an opportunity for this brand in South Africa to do, again, I don't like using this word 'Zara-type' aspirational (fashion)," he said. He added that Ayana was also trying to tap customers who "are currently buying from some Chinese (retailers like) Shein. There's an opportunity to really address that. So we're going to put a big effort into it." Online-only retailers Shein and Temu have grown rapidly by shipping inexpensive products directly to consumers, forcing local retailers to find new ways of differentiating themselves. Ayana currently sources its stock from Asia, particularly China, and locally in order to respond faster to changing trends, Erasmus said. ($1 = 17.9112 rand)
Reuters
3 days ago
- Business
- Reuters
Pepkor's fashion chain Ayana aims for hundreds of stores in South Africa
JOHANNESBURG, May 28 (Reuters) - Recently-launched fashion chain Ayana could have hundreds of stores, the CEO of its owner Pepkor (PPHJ.J), opens new tab told Reuters, as the South African retailer targets trendier customers and embraces the fast-fashion model of some rivals. Pepkor, the owner of the budget Pep and Ackermans clothing chains, is underrepresented in the adult clothing market, especially in womenswear. Recently it has been expanding in that market, with the acquisition of fashion businesses Legit, Style and Swagga. In February, it launched 32 Ayana stores by converting discontinued Ackermans womenswear stores. The brand is more fashionable than Pepkor's core chains and aims to refresh its ranges more frequently, with some shoppers comparing its style and store layout to Inditex-owned Zara. "This is not like a thousand store chain. It will be, I suppose, a couple of hundred if it's really successful, maybe two or three hundred," Pieter Erasmus, Chief Executive Officer of Pepkor, told Reuters on Tuesday. Ayana is targeting fashion-conscious young women with its waist coats, bow mini dresses and collarless jackets, "but at a price which is affordable," Erasmus added, compared to international brands like H&M ( opens new tab. "Customers have responded well in the store, in sales, but also on social media. So we think that there's an opportunity for this brand in South Africa to do, again, I don't like using this word 'Zara-type' aspirational (fashion)," he said. He added that Ayana was also trying to tap customers that "are currently buying from some Chinese (retailers like) Shein. There's an opportunity to really address that .... So we're going to put a big effort into it." Online-only retailers Shein and Temu have grown rapidly by shipping inexpensive products directly to consumers, forcing local retailers to find new ways of differentiating themselves. Ayana currently sources its stock from Asia, particularly China, and locally in order to respond faster to changing trends, Erasmus said. ($1 = 17.9112 rand)
TimesLIVE
4 days ago
- Business
- TimesLIVE
Pepkor plans 250 more stores by year-end as operating profit grows 13.3%
Pepkor, the owner of Pep, Tekkie Town and Bradlows furniture stores, plans to open between 250 and 300 new stores by the end of the year. The group recently announced a number of acquisitions including Legit, Style and Boardmans from Retailability. It also bought House & Home furniture from Shoprite. On Tuesday the company reported a 12.8% rise in revenue to R48.8bn for the six months to March, while operating profit grew by 13.3% to R5.8bn. Pepkor's traditional retail businesses delivered a strong trading performance, outperforming the market and expanding market share. The clothing and general merchandise segments, which includes Ackermans, reported a 9.5% increase in sales to R34.5bn. The furniture, appliances and electronics segment, which also includes HiFi Corp and Incredible, reported a 9.1% rise in sales to R6.5bn. Pepkor also provides loans, store credit and leasing of cellphones. The segment — fintech — reported revenue growth of 34.5% to R7.9bn. The company said it sold 6.8-million cellphones, up 17%, during the six months to March. Eight out of 10 prepaid handset sales in South Africa are sold by Pepkor companies. 'Combined with the group's expansive store network as a powerful distribution channel, Pepkor has cemented its position as the clear leader in the cellular market, backed by a differentiated and highly resilient strategy,' it said. FoneYam, the cellular handset rental product launched last year and designed to make smartphones affordable for customers, continued to grow strongly with active customers reaching 1.5-million by the end of March. Monthly activations averaged 165,000 over the period, said Pepkor. CEO Pieter Erasmus said: 'We have delivered consistent retail performance, strategically executed on our fintech growth ambitions and maintained disciplined cost management. Our focus on digital and financial inclusion yields tangible benefits for our customers and the group's performance.' Erasmus said the company was particularly pleased with the progress in its fintech segment and its expanding cellular market share, which are becoming increasingly significant contributors to its overall success. 'Strategic acquisitions announced will further diversify our offering into new customer segments and product categories — positioning Pepkor for sustained growth and value creation.'
