TFG Limited (commonly known as TFG and formerly The Foschini Group), is a
South African retail
Retail is the sale of goods and services to consumers, in contrast to wholesaling, which is the sale to business or institutional customers. A retailer purchases goods in large quantities from manufacturers, directly or through a wholes ...
clothing
Clothing (also known as clothes, garments, dress, apparel, or attire) is any item worn on a human human body, body. Typically, clothing is made of fabrics or textiles, but over time it has included garments made from animal skin and other thin s ...
group, which trades under various brands, and has more than 3,000 stores within its portfolio.
It is headquartered in
Cape Town
Cape Town is the legislature, legislative capital city, capital of South Africa. It is the country's oldest city and the seat of the Parliament of South Africa. Cape Town is the country's List of municipalities in South Africa, second-largest ...
.
In 2015, the company acquired the British apparel chain
Phase Eight from
TowerBrook Capital Partners
TowerBrook Capital Partners, L.P. is an investment management firm headquartered in London and New York City. TowerBrook spun out of Soros Fund Management in 2005 and became known for acquiring majority stakes in companies such as Jimmy Choo. Man ...
, then valued at £300 million.
In March 2016, TFG acquired the British chain
Whistles
A whistle is a musical instrument which produces sound from a stream of gas, most commonly air. It is a type of fipple flute, and may be mouth-operated, or powered by air pressure, steam, or other means. Whistles vary in size from a small sl ...
with its 46 retail shops.
In 2017, the company acquired Australian retail company
Retail Apparel Group from Navis Capital Partners.
In March 2020, TFG announced that, during the on-going
COVID-19 pandemic
The COVID-19 pandemic (also known as the coronavirus pandemic and COVID pandemic), caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), began with an disease outbreak, outbreak of COVID-19 in Wuhan, China, in December ...
, the company would cease to pay rents for its retail locations during the
resultant lockdowns in South Africa.
TymeBank
TymeBank is a South African digital bank aimed at the lower income market. Headquartered in Rosebank, Johannesburg, TymeBank does not have any physical bank branches and relies on an Android banking App, and Internet Banking site and a partners ...
would open approximately 600 banking service kiosks in TFG retail outlets in 2022.
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.
References
External links
[https://tfglimited.co.za/]
{{DEFAULTSORT:Foschini Group
Clothing companies of South Africa
Companies based in Cape Town