Edgars expects sales increase

Edgars expects sales increase
Published: 28 August 2017
LISTED clothing group Edgars Stores Limited expects an increase in sales contribution of about two percent annually after investing $500 000 in revamping its Stanley House branch in the Harare's central business district.

This is part of the group's planned capital expenditure estimated between $1 million and $2 million over the next few years.

The revamped branch now comes with a new regional cosmetics brand, Red Square.

Operations executive Gideon Lungu said the group, which serves approximately 100 000 customers monthly or higher at peak periods will revamp its 26 branches dotted around Zimbabwe as part of the strategic plan.

"As a result of this revamp, we have anticipated an increase in sales contribution of 1,5 percent to 2 percent annualised. Our aim is to increase footfall into this store. Part of our strategy is that every foot into our store is a potential sale. We have planned to revamp all our flagship stores over the next three years," said Mr Lungu.

Chain director Vusa Mpofu said the new concept is part of the group's 5-year plan and strategy designed to create "a world class shopping environment for our customers".

"What you will see today is a $450 000 investment into creating a world class shopping environment for our customers. This is in line with our group vision of aiming to be Zimbabwe's undisputed market leader in the clothing and footwear retail business offering quality, value and superior customer service in world class shopping environments," said Mr Mpofu.

Red Square, a regional cosmetics brand that sits in the Edgars stores.

"We unveil a store in store concept, where we are offering the widest cosmetics and fragrance range in the country today, all under one roof and all available on credit- six months to pay, zero deposit and zero interest among the many financial services products that we offer," he said.

The cosmetics and fragrance ranges come as a response to changing customer trends and tastes.

In its store, the group offers its internal brands alongside internationally acclaimed ones.

Mr Lungu offers brands which include Kelso, Stone Harbor, Signature, Merien Hall, Free 2 B U and J Ex Premium, among others.

The brands include new international brands coming in such as Shotgun, Pro Action and Zerbit which is a premium Kids-wear brand.

"We also offer exclusive international brands namely Sissy Boy, Cutty Sark, Jeep and a plethora of brands in our cosmetics and fragrance offerings such as Estee Lauder, L'Oreal and many more," said Mr Lungu.

"Internal brands we call private brands, in terms of fashionability, quality and styling, are quite competitive. A good estimate I would say 70 percent to 75 percent is coming from our private brands."

Local brands are taking space as much as 75 percent in the group's stores.
- online
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