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TFG’s investment in online offering pays off

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Online turnover grew 57.2% in the year and now accounts for 8.8% of group sales, with 23 brands of its 29 now available online

Clothing group TFG, whose brands include Foschini, American Swiss and Markham, went against the prevailing retail trend by producing strong results in a difficult economy.

TFG CEO Anthony Thunström said its local operations, received a boost from its factories now having a link to its IT systems, which monitored store sales, enabling it to respond quicker to trending fashion. Although the group now sold more goods, by having the capacity to react to fashion trends and not having to wait months to see if a product would sell, it also managed to decrease the markdowns on products that were not selling.

 

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