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The business is registered to supply the Edgars, Truworths, Foschini, PEP and Legit chain stores. Due to Covid and Edcon going into business rescue it has slowed down quite substantially as we have had to focus on other businesses to survive. Edgars has now been bought by Retailability who own Legit. The business has very good relationships with all of these retailers. Products supplied are handbags, purses, belts, scarfs, sunglasses and (new) seamless underwear being fairy new but a large / fast growing category in South Africa. The business turned over 12 Million Rand + making an average of 20% margin. With the correct cashflow and merchandisers it is capable of quite easily double the turnover in 24 months. We have longstanding relationships with factories from China who are loyal and understand the South African business model. Edgars under new ownership is wanting to re-engage on our handbag contracts which was our main source of income. This along with other lines. All of this can be arranged with the sale of the business. We are happy to assist with a smooth handover of the business to a purchaser. The difficult part of this business is establishing relationships and registering as a supplier with the chains. For example Truworths took almost 2 years to regsiter.
With the expansion into seamless underwear and mens accessories. We have been talking to MARKHAMS for some time and pre-covid was about to start supplying caps, backpacks and sunglasses. Their accessories sales are R 800 million Rand a year. With the correct merchandising the sky is the limit.
There are a few suppliers of fashion accessories and handbags in South Africa. Most focus on 1 or 2 lines. We have quite a few more offerings and are one of a few handbag suppliers that have the formula right.
Due to Covid and Edcon going into business rescue we have had to focus on our other business to survive hence losing our cash flow to proceed with this business.
9am - 4 pm
We are able to supply all support and training required to ensure smooth change of ownership.
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