Fashion brands have been seeking growth through mergers and acquisitions. Two weeks ago Michael Kors agreed to buy British shoemaker to the stars Jimmy Choo for an approximate $1.2 billion, and now Canadian shoe company Aldo will be acquiring the Camuto Group. The deal results in a new footwear powerhouse, significantly broadening the reach of both companies. More details in today's top story.

While one giant is born, another falls. Last week marked the official closure of 159-year-old South African retailer Stuttafords. Last-minute attempts to rescue the stores in Eastgate and Sandton failed, and the 950 people (in SA, Namibia and Botswana) who were employed before the entire business rescue process began, are out of work. For South Africa, it is the end of a piece of retail history.

In more positive news, Albany Bakeries launched its new state-of-the-art facility in Bellville last week, following a R350 million investment. The investment included an interior upgrade for the existing bakery and the building of a new plant boasting a lower carbon footprint and increased production efficiency - doubling output capacity from 6,000 loaves baked per hour to a whopping 12,000.

Ending off, global speaker and trend specialist John Sanei recently shared his thoughts with members of the SACSC Gauteng Chapteron, on how businesses can be forever profitable, especially in the retail and shopping centre industry. Well worth a read.

Lauren Hartzenberg
Retail Editor: Bizcommunity.com


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