Foschini Group (TFG), a Cape Town-based firm, says it will open five branches in Ghana by next march of part of a bigger plan to increase the number of stores in Africa. The Foschini group currently has 120 stores outside of South Africa.The Foschini group is known it be the biggest seller of sporting brands such as Adidas and Nike Inc in South Africa. TFG’s plan is actually to double the number of stores that they currently have in Africa this however will be stretched across four years, the countries concerned will include Mozambique, Kenya and Angola.
Africa has been seen as the fastest growing continent as other markets have been seen to have been saturated as far as sales are concerned.
The South African company operates 17 retailer brands ranging from women’s fashion to jewellery. It is worth noting however that the company already operates in several African countries, including Nigeria, Zambia, Botswana and Namibia.
It has been said that TFG intends to encourage their customers to spend cash in stores rather than credit cards because this will decrease the amount of credit card defaults.
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