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Group Profile

Truworths International Ltd is an investment holding and management company based in Cape Town, South Africa. Its main operating companies, Truworths Ltd (Truworths, operating primarily in South Africa) and Office Holdings Ltd (Office, operating primarily in the United Kingdom), are leading retailers of fashion clothing, footwear, homeware and related merchandise.

Founded in 1917, the company (104 years old) listed on the JSE and on the Namibian Stock Exchange in 1998, 23 years ago. The Truworths International Group is one of the leading retailers in Africa with 793 stores across the continent and 98 Office stores and concessions in the UK, Germany and the Republic of Ireland. The Group’s physical stores are complemented by an established, world-class online business in Office, contributing over 60% of Office’s sales in the period, together with a fast-growing online presence in Truworths.

The Truworths brand is synonymous with superior quality, aspirational fashion which is supported by a portfolio of some of South Africa’s most desired apparel brands, most of which are owned by the company and which have been developed over the past four decades. The 1980s saw the rapid expansion of the brand portfolio with the launch of Daniel Hechter under a long-term licence agreement (1984), Inwear (1986), Truworths Man (1988) and Truworths Jewellery (1989). In the 1990s internally developed brands LTD (1992), Identity and Truworths Elements (1999) were launched. Ginger Mary followed in 2004 and Hey Betty in 2011. All brands within the portfolio fulfil a particular niche in the market so that there is minimal overlap between brands in the Group’s portfolio.

Organic brand expansion has been supported by the acquisitions of Young Designers Emporium (2003), Uzzi (2006), Earthaddict, Earthchild and Naartjie (2015), while the acquisition of Loads of Living in 2017 launched the Group into the homeware market.

Truworths International expanded into the northern hemisphere retail market in 2015 with the acquisition of the Office fashion footwear chain in the United Kingdom.

Office London was introduced in South Africa in 2017, with Context, an upmarket offering of fashion, beauty and homeware, and ID Kids, an extension of the Identity brand into childrenswear, launched in 2019.

Over the past year the brand portfolio was enhanced with the launch of Fuel, a young, streetwear men’s brand. The Group also entered the value segment of the South African fashion market with the launch of Primark, a youthful, fashionable, commercial and aspirational value brand and it plans to grow this segment over time.

Market positioning
Market-leading fashion apparel retailer offering internationally inspired, superior quality, aspirational fashion clothing and footwear for ladies, men, teenagers and kids, and homeware in the mainstream middle to upper-income market.

Brands
Exclusively owned or licensed brands include Truworths, Truworths Man, Hemisphere, Trench, Moskow, Extream, Inwear, Identity, Daniel Hechter, LTD, LTD Kids, Ginger Mary, Uzzi, Hey Betty, Outback Red, OBR, Finnigans, Emily Moon, Earthaddict, Earthchild, Naartjie, Office London, Loads of Living, Context, Fuel, Primark and YDE, a specialist glamour chain store.

Store footprint
Retail footprint of 758 stores across all brands in South Africa and 35 stores in other African countries. The store network is complemented by an e-commerce platform which features all major brands.

Accounts
Account facilities are offered to customers across all brands in South Africa, Namibia, Eswatini and Botswana. The active account customer base is 2.6 million.

Market positioning
Leading fashion footwear retailer in the UK primarily aimed at fashionable 16 to 25 year olds in the mid-level price range.

Brands
Private label and major global third-party footwear brands, including Nike, Adidas, Converse, Veja, Dr Martens, Birkenstock, Timberland, Vans and UGG, sold through Office and Offspring outlets.

Store footprint
Office has 98 stores in the UK, Germany and the Republic of Ireland, including 13 concession outlets in high-profile department store retailers.

Online retail
Fast-growing e-commerce business accounts for more than 60% of Office sales across a range of digital platforms.

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