The Foschini Group (TFG) has seen its share price rising after it reported strong trading in December. The South African group owns a raft of retailers including big UK names Whistles, Phase Eight and Hobbs.
After rumours that Gazal, which handles brands such as Calvin Klein in Australia, could buy the struggling Oroton, it has come to light that the handbag brand's major stakeholder Will Vicars plans to bail it out.
The Foschini Group is boosting its presence in the UK and international fashion sector with news that it will add Hobbs, the middle market womenswear retailer, to a portfolio that includes Whistles and Phase Eight.
First it was Shop Direct calling off its mega-billions sale and now Kaupthing is believed to have ended the bidding process for its trio of key (but far less valuable) UK fashion brands, Oasis, Coast and Warehouse.
The bidders for Oasis, Coast and Warehouse are reported to include Philip Day, Foschini, Alteri and Truwowrths, but they are believed to have offered less than half the £100m the trio's owners had wanted.
The South African retail investor in clothing and textile production has invested R75 million in the renovation and expansion of Prestige Clothing factory in Caledon -- a boost for the local industry in South Africa