Newsletter No 11 /28 March 2025
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Pepkor puts cash behind adult wear strategy
By Kabelo Khumalo and Jacqueline Mackenzie
There are 4,993 Pep stores across SA. Picture: The Sunday Times/Alaister Russell
The deal excludes the Edgars, Edgars Beauty, Red Square, Kelso and Keedo businesses
Pepkor is to acquire the Legit, Swagga, Style and Boardmans businesses from privately owned retail group Retailability as part of the group’s strategy to win market share in the adult wear category.
The Pep and Ackermans owner said the transaction would bolster its footprint and presence in the adult wear market in fulfilment of its strategy to grow its market share in the lucrative segment where is has played second fiddle to rivals for years.
“The proposed transaction will add significant additional scale to Pepkor speciality and expand its product offering in the adult market, especially in womenswear through the Legit brand,” Pepkor said.
The acquisition of Swagga and Style had strong synergistic benefits, expanding the group’s store portfolio and providing the opportunity to further grow the group’s share in the adult wear market, Pepkor said.
The transaction comes just five months after the purchase of adult wear group Choice Clothing, a discount retailer with more than 100 stores in SA and Namibia.
The company indicated its intentions to ramp up efforts to capture a larger share of SA’s adult apparel market, which accounts for most of the country’s clothing sector, in its 2024 annual report published earlier this year.
While the group dominates the children’s and babywear categories, it trails behind peers and rivals such as Mr Price, TFG, Truworths and Woolworths, which generally do well in this market.
A study by the Retailers’ Liaison Committee shows Pepkor’s commanding position in children’s clothing.
According to the data, the group leads in babywear, accounting for two-thirds of sales, children’s apparel (half) and school uniforms (three-quarters). However, with the adult apparel segment representing 60% of the total market, Pepkor now has a mandate to build customer loyalty beyond childhood.
The group’s stated ambition is to cement and strengthen its position in the babies’, children’s, school and home categories and to expand share in the adult market.
According to Statista, SA’s apparel market is projected to generate $6bn (R112.5bn) in revenue in 2025, with a compound annual growth rate of 5.39% in 2025 to 2029. Women’s apparel is set to dominate, with a market volume of $2.63bn.
Retailability offers apparel and lifestyle products across a number of retail brands in Southern Africa. The businesses to be acquired operate 462 stores across SA, Botswana, Lesotho, Namibia and Eswatini, Pepkor said in a statement.
The Edgars, Edgars Beauty, Red Square, Kelso and Keedo businesses are not included in the transaction and will continue to be operated by Retailability, it said.
The acquisition is subject to regulatory and commercial suspensive conditions customary for a transaction of this nature.
Edgars, one of SA’s oldest retail chain, faced financial challenges that were worsened by the global financial crisis and the Covid-19 pandemic. In 2020, Edcon, the parent company of Edgars, entered business rescue, leading to a restructuring of its operations.
Pepkor’s move comes amid growing competition from rivals such as TFG, which acquired Jet in 2020 to strengthen its affordable fashion segment. Pepkor had also considered acquiring Edgars outright for R2.4bn but shifted focus to Retailability’s other brands instead.
The acquired businesses would be incorporated into the Pepkor speciality business unit, which provides a range of adult apparel, footwear and accessories across seven retail brands, including Tekkie Town, Shoe City, Dunns, Refinery, CODE, SPCC and Ayana.
Pepkor Speciality’s total store base comprises 941 stores across SA, Botswana, Lesotho, Namibia and Eswatini.
‘Significant scale’
“The proposed transaction will add significant additional scale to Pepkor Speciality, and expand its product offering in the adult market, especially in womenswear through the Legit brand,” Pepkor said.
The acquisition of Swagga and Style had strong synergistic benefits, expanding the group’s store portfolio and providing the opportunity to further grow the group’s share in the adult wear market, Pepkor said.
The Boardmans online brand, which operates in the homeware product segment, will become part of the Pepkor lifestyle business. Pepkor will unlock value through its extensive scale in sourcing, supply chain and back-office functions, in addition to leveraging its capabilities in credit and other financial services.
Tyrone Vieira, CEO of Pepkor emerging businesses, said the Legit and other Retailability businesses were a natural fit for Pepkor Speciality.
Pepkor COO Sean Cardinaal said the acquisition of these businesses “represents a major milestone in the execution of Pepkor’s strategic growth model by accelerating growth in the group’s traditional retail core. This, in turn, will enable strategies in our other growth pillars of financial services and connectivity, omnichannel and leverage & efficiency — contributing to Pepkor’s delivery of compelling and sustainable long-term performance and returns.”
The total purchase consideration, to be settled in cash, was not disclosed, but Pepkor said it represented less than 2% of its market capitalisation of R97bn.
With Lindiwe Tsobo and Nompilo Goba 
Local designers set to shine at Shanghai Fashion Week 2025
Image supplied
At a time when South Africa is cementing its place as a rising force in the global creative economy, a dynamic group of the country’s top fashion designers is preparing to take centre stage at the highly anticipated 2025 Shanghai Fashion Week (SHFW), running from 25 – 29 March in China’s fashion capital, Shanghai.
From the runway to exclusive showrooms, South African designers Rich Mnisi, David Tlale, Mzukisi Mbane of Imprint ZA, Palesa Mokubung of Mantsho, and Jessica Jane of Molebatsi will join over 20 African fashion brands under the banner of the “Africa Reimagined Showroom,” curated by Development Reimagined (DR), an award-winning African-led, women-led international development consultancy.
Together, they will showcase the vibrancy, innovation, and craftsmanship that define contemporary African design on one of Asia’s most influential platforms.
SHFW has fast become a global hotspot for buyers, trendsetters, media, and luxury industry stakeholders, offering South African creatives a prime opportunity to expand their international reach and influence.
This is particularly significant as the country steps up efforts to position its creative industries – including fashion – as key drivers of economic growth, cultural exchange, and soft power diplomacy.
“Our designers represent a bold, forward-looking South Africa that is unapologetically influencing the global fashion narrative,” said Tshepiso Malele, country head for China at Brand South Africa, which is supporting the initiative in partnership with DR, the South African Consulate in Shanghai, and other stakeholders.
“This moment is about showcasing African excellence and creative ingenuity to the world.”
With South Africa contributing the largest contingent of designers to the Africa Reimagined Showroom, the delegation will engage with international buyers, media outlets, and industry leaders through catwalk presentations, trade exhibitions, and exclusive side events.
This milestone is also part of Brand South Africa’s broader efforts to elevate the Nation Brand by championing local talent on international platforms and amplifying the country’s narrative of creativity, resilience, and global competitiveness.
More than just a fashion showcase, this moment is about strengthening South Africa’s cultural diplomacy and business-to-business connections across key Asian markets.
By telling uniquely African stories through fashion, the designers will spark conversations around identity, heritage, and innovation – reinforcing the country’s role as a global influencer in both culture and commerce.
It comes at a time when the international fashion industry is increasingly recognising African design as both commercially viable and culturally influential.
Now, with our designers having landed on the shores of Shanghai, they are ready to take over the global stage – boldly and unapologetically South African.
Raffia goes haute
By Zodwa Kumalo-Valentine
Pok Pok campaign Image: Supplied
Pok Pok Madagascar is the brand behind the ravishing bags on the runway across the world
Raffia has become one of the most sought-after materials in luxury fashion, celebrated for its natural texture and handmade appeal. It’s a material that has become a sign of understated elegance, in everything from Loewe’s leather-trimmed shoulder bags to Marni’s tropical micro totes.
But while raffia might be on the arms of luxury lovers across the globe, not many know its origins — or the story of the brand that’s putting it firmly on the map: Pok Pok Madagascar. Founded in 2012 by cousins Andrianina and Fitia Randri-amifidimanana, Pok Pok was born out of a desire to showcase Madagascar’s heritage and elevate raffia to the realm of high design.
The name Pok Pok is a reference to the physalis fruit, a small yellow berry that grows wild on the island. Says Fitia: “We wanted a name that felt tied to our country and its sunshine, something exotic and unique. It’s a reflection of everything we want to share with the world.” In Madagascar, raffia isn’t just a material — it’s deeply connected to the land, its people, and their stories.
The Raphia farinifera palm grows in the country’s tropical regions and has been used for centuries in baskets, mats, and fishing nets. “Raffia is a living fibre. If we don’t harvest it, the tree actually dies. It’s part of a virtuous cycle where we can use the material while protecting the environment,” says Fitia.
What makes Pok Pok unique is its approach to raffia as more than just a functional material. The brand draws on Madagascar’s rich traditions, particularly the braiding techniques found in the hairstyles of women in its southern regions. These intricate styles, often associated with royalty, serve as inspiration for Pok Pok’s designs.
“The rounded braids you see in women’s hair in the south of Madagascar are directly mirrored in our bags,” says Fitia. “One boule [a rounded, sculptural element often used in their bags] can take anywhere from two to five hours to complete. The production of one of our bags typically takes up to nine days, depending on the complexity of the design and the skills involved in the weaving process. It’s done entirely by hand.”
The artisans, most of whom are women, work in a workshop in Antananarivo, Madagascar’scapital, creating products that not only showcase their skills but also provide livelihoods.
Pok Pok’s latest capsule collection features fresh, on-trend colours such as mint green, soft pink, and amber rust. As the brand looks to the future, its founders are excited about expanding internationally, with South Africa among the markets they hope to enter. “We are proud to have built a network of about 40 distributors worldwide — South Africa has such a rich design scene, and we feel it’s the right time to introduce Pok Pok here,” says Fitia. @pokpokmadagascar
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Wardrobe Malfunctions
While Mark Hamill was presenting Best Film at the 2025 BAFTAs, his pants fell down behind the podium. But like a true professional, he pulled them back up and kept going.
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