Current TFG brands include @home, Charles & Keith, Exact!, Foschini, Donna-Claire, Totalsports, American Swiss, Matrix and Sterns - and others.
"The ability to provide 'fast fashion' and quick response manufacturing has become a crucial element for successful retailing," TFG CEO Doug Murray says, adding that the strategic acquisition of Prestige will aid TFG's supply chain management and control and expand its manufacturing ability. "Prestige Clothing has been a TFG supplier and valued strategic partner for the past 20 years," Furthermore, the acquisition was in line with the group's strategy of investing for the long term and its commitment to developing local talent in the fast turnaround manufacturing environment, he says.
Murray tells Cape Business News that Prestige handled 25% of TFG's local manufacturing in the past. "We worked closely together to set new benchmarks, creating specific ways to shorten lead times while maintaining consistent quality and costs." In order to better compete with international low-cost manufacturers, he says, TFG signed a service level agreement with Prestige 2 years ago. This brought the two companies closer together and TFG contracted Prestige to produce a specific monthly volume on an annual basis. "This arrangement proved so successful that Prestige became TFG's manufacturing cornerstone. The acquisition was a natural next step," Murray says.
Read the full article on www.cbn.co.za.
