Coricraft expanding as demand rises

MD David Jacobson said last week that the company was expanding to meet the growing needs of consumers who want value offerings.

It owns 17 stores in the Western Cape, Eastern Cape, Gauteng, Free State, Mpumalanga and North West. It would spend R15m on the new stores and refurbishments, Jacobson said.

The new stores would be located in Durban, Cape Town and Gauteng. They “will have a brand new look and feel.... A team of renowned shop designers have been seconded to the new store project, which will also include a major revamp of our Sandton City and Canal Walk stores, to be relaunched in August,” he said.

It was not possible to carry the entire range in each store, but Coricraft offered swatches and an online portal. It would also soon launch an online store. Next year stores will open in Witbank, Mpumalanga, Polokwane, Limpopo and the Vaal Triangle.

Jacobson said it was an opportune time to grow as rental space was easier to come by.

The stores are generally in malls. Jacobson said a few were standalone concepts, but this was not ideal as people preferred to cross-shop.

A consortium of individuals bought out Coricraft in 2005 from its founder and spent some time restructuring it.

“Retail norms have changed dramatically over the past 12 months. Customers are not only demanding lower prices for better quality products, but also stringent pre- and post-sales service,” said Jacobson.

The Cape Town factory employs 400 staff. A Johannesburg factory would start producing 40 units a month later this year, Jacobson said.

Source: Business Day

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