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Group Strategy

The Group’s strategic objectives are aimed at adherence to and fulfilment of the objectives of our Business Philosophy as defined by its PURPOSE and VISION for stakeholders.

Refer to Our Business Philosophy.

The Group achieves its strategic objectives through the successful development and execution of a series of strategies within Truworths and Office. These strategies are underpinned by sound financial, information and operating systems, as well as people and governance processes. The Group delivers on these strategies through short-term action plans and projects, which are developed and implemented each year, as outlined in the Chief Financial Officer’s Report, Material Issues, Risks and Opportunities, and the Truworths Human Capital report and Office Human Capital report.


Strategic Objectives

Enhance returns to shareholders through efficient management of the business including the management of financial and capital resources, gearing, tight expense control and robust governance structures to ensure long-term growth

Conduct operations in a sustainable manner to ensure the viability of the Group’s businesses, principally by remaining relevant to and meeting the needs of customers, respecting the interests of all other stakeholders and managing the impact of the operations on the physical and natural environment


Maintain a robust balance sheet to reduce the risk of unfavourable market conditions with the aim of continuing to pay dividends, including during difficult times

Buy back shares at earnings-accretive levels

Restore the profitability of Office as a fashion-forward footwear and sneaker specialist, operating under the Office and Offspring brands

Deploy a centralised management model characterised by clear board direction and strategy determination, a flat management structure, and an empowered and accountable management team

Maintain an efficient governance framework, comprising of relevant governance policies, structures and processes, which contributes to improved operational decision-making and corporate performance, while reducing the risk of failure

Treat all shareholders equally and fairly, irrespective of the size of their shareholding

Scientifically manage the debtors book risk through latest and best technology


Strategic Objectives


In Truworths | Address the lifestyle needs of our customer through a curated mass-market offering of predominantly exclusive fashion brands, ensuring we maintain our aspirational better-end mainstream fashion positioning

In Office | Position Office as the footwear retailer for the fashion-savvy ‘London girl’, and Offspring for the young fashion-obsessed male and female sneaker customer with the latest shoe and sneaker styles from world-renowned brands, complemented by a unique range of made-to-order (MTO) fashion footwear


Manage the risk of fashion by offering an extensive range of internationally inspired aspirational fashion of high quality, across a diversified brand portfolio, and consistently introducing new fashion concepts and brands to address the lifestyle needs of our customers

Focus on youthful and fashionable South African ladies, men and kids, and provide a variety of innovative and unique aspirational merchandise and brands for all occasions and for different market segments

Maintain and enhance relationships with key international footwear brands to remain positioned as their strategically important partner

Devise and implement tactics to grow sales of own-brand MTO footwear to materially increase revenue and improve gross margin

Operate an efficient supply chain to reduce fashion risk and improve our ability to distribute merchandise

Use a diversified range of merchandise manufacturing suppliers operating both domestically and throughout the world, accessed either directly through internal buying and international sourcing teams, or through local or foreign import agents

Maximise efficiencies in the supply chain by reducing lead times of both local and imported supplies and be first to market with the latest fashion merchandise and then having the ability to trade quickly based on customer demand

Utilise centralised Group-owned distribution centres and a centralised distribution model, which uses outsourced transportation service providers

Manage inventory levels to minimise stock build-up, free up working capital and promote full-margin sales

Utilise custom-designed leased distribution centres located at key shipping and transportation hubs and a distribution model which makes use of outsourced transportation service providers

Bolster the merchandise, planning and distribution capability through the implementation of state-of-the-art systems

Provide our customers access to our aspirational merchandise through responsible credit granting (Truworths only) and multiple payment options (Truworths and Office), while enhancing our ability to communicate with our customers and prospective customers

Use the Group’s in-house account expertise, offering credit as an enabler of merchandise sales and a facilitator of merchandise sales growth, while enhancing customer relationship management to attract and retain customers

Supplement account facilities with a lay-by (set aside) offering to develop relationships with new customers, expand customer participation in the loyalty programmes and grow merchandise sales

Manage account risk by steadily growing the Group’s active account base using strict credit-granting criteria, and deploying best-in-class new account acquisition processes and account risk management systems, together with creative collection strategies

Grow sales and enhance the customer experience by providing multiple payment options across multiple currencies

Introduce a holistic customer relationship management programme to communicate with both active and dormant consumers who have shown an affinity to Office

Create and maintain enticing and modern store environments through continual development of new store concepts and upgrading of retail stores

Operate through leased store premises in prime locations in shopping malls and town centres, applying the emporium (store-within-a-store) concept where relevant

Expand the store footprint through prudent trading space management and utilise retail space productively through the introduction of new brands

Remodelling of emporium and large stores along with new and expanded retail store concepts and brands

Continue the store portfolio rationalisation process to meaningfully reduce real estate rental, business rates and operating costs with the closure of loss-making stores

Enhance the omni-channel experience through the remodelling of important high-profile stores

Enhance our digital capability through a world-class omni-channel experience

Grow the omni-channel presence through ongoing development of e-commerce capabilities, the creative use of social media platforms and other innovative brand development opportunities

Expand the e-commerce business, recognising the importance of the omni-channel customer and the need to satisfy the customer’s store and digital experience


Strategic Objectives


Attract, develop and retain talent while enhancing employee engagement and satisfaction levels by acknowledging and rewarding successful outcomes


Create a workplace that fosters a culture of innovation and high performance through alignment with the Business Philosophy

Embrace transformation across the elements of the broad-based black economic empowerment scorecard to improve opportunities for previously disadvantaged South Africans, especially through employment equity and skills development, but also through enterprise and socio-economic development

Create a workplace that fosters a culture of innovation and high performance through alignment with the Business Philosophy

Build a team capable of assisting with the Office turnaround plan