SAN DIEGO, CA, March 16, 2011 (Press-News.org) After a difficult decade where working capital was decimated, Edgars Stores is in the process of re-positioning its brand and upgrading its retail outlets across Zimbabwe in a bid to secure its position as market leader within South Africa's retail industry.
During the period of hyperinflation between 2007 and 2008 Edgars was forced to consolidate and relinquish its poorer performing stores. By the end of 2010 the number of retail outlets had fallen to 33, however despite losing 43 percent of its stores, Edgars managed to retain 62 percent of its trading space which stood at 34,100sqm.
Since the end of 2010 Edgars Stores has opened a small but modern retail outlet in the up-market Sam Levy's Village shopping centre in Borrowdale, Harare, signaling its recovery after the global economic recession. Despite opening 2011 in an undercapitalised position, Edgars Group Managing Director, Linda Masterson believes that, over the course of 2010, the Edgars chain recaptured its position as market leader. It did so through a measured risk appetite and the re-establishment of credit to its customers. "We aim to supply our customers with value for money by providing quality fashion merchandise for the family at competitive prices and superior customer service in convenient shopping environments. We believe that we are Zimbabwe's market leaders in the credit retailing of clothing and it is our resolve to remain so," she says.
Read the company report, here.
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Linda Masterson, Managing Director of Edgars Group, Discusses its Position as a Leader in South Africa's Retail Industry with Retail Digital
Edgars Stores is in the process of re-positioning its brand and upgrading its retail outlets across Zimbabwe in a bid to secure its position as market leader within South Africa's retail industry.
2011-03-16
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[Press-News.org] Linda Masterson, Managing Director of Edgars Group, Discusses its Position as a Leader in South Africa's Retail Industry with Retail DigitalEdgars Stores is in the process of re-positioning its brand and upgrading its retail outlets across Zimbabwe in a bid to secure its position as market leader within South Africa's retail industry.