TFG Limited
South African retail clothing group
From Wikipedia, the free encyclopedia
TFG Limited (commonly known as TFG, and formerly The Foschini Group) is a South African retail clothing group, which trades under various brands, and has more than 3,000 stores within its portfolio.[3] It is headquartered in Cape Town.
 | |
| Company type | Public |
|---|---|
| JSE: TFG | |
| Industry | Retail |
| Founded | 1924[citation needed] |
| Headquarters | , |
Number of locations | 3,000+ |
Area served | Africa UK Australia |
Key people | Michael Lewis (Chairman) Anthony Thunström (CEO)[1] |
| Revenue |  R 34.1 billion (2019)[2] |
Number of employees | 29,121[2] |
| Subsidiaries |
Phase Eight Whistles Retail Apparel Group Markham Sportscene Totalsports Foschini Fabiani Hi @home Donna Duesouth Escapes Exact Foschini For Beauty MyTFGworld Archive Store the FIX Jet Coricraft Bash |
| Website | www |
In 2015, the company acquired the British apparel chain Phase Eight[4][5] from TowerBrook Capital Partners, then valued at £300 million.[6]
In March 2016, TFG acquired the British chain Whistles with its 46 retail shops.[5] In 2017, the company acquired Australian retail company Retail Apparel Group from Navis Capital Partners.[7]
In March 2020, TFG announced that, during the on-going COVID-19 pandemic, the company would cease to pay rents for its retail locations during the resultant lockdowns in South Africa.[3][8]
During the course of 2020, TFG acquired the chain of Jet stores from an ailing Edcon, further expanding their footprint as a retail conglomerate.
On 5 October 2021, it was reported that TymeBank would open approximately 600 banking service kiosks in TFG retail outlets in 2022.[9][10]
Through a series of investments, TFG has increased its manufacturing capacity in South Africa. By November 2021, it was producing almost three quarters of its apparel locally.[11]