A confusing Taste
Taste announced that it bought Arthur Kaplan Jewellers for R85m in cash. This fits nicely with NWJ, which has been doing very well for the group. But I criticised the NWJ acquisition when it happened and I feel the same way about the Arthur Kaplan deal. Sure, Taste is doing well in this space and adding Arthur Kaplan helps a bunch, but it leaves me confused as to what Taste is. Is it in the fast-food business or in the jewellery business? CEO Carlo Gonzaga once suggested to me that it was about brand management, but I remain unconvinced and as I have written recently, the Domino’s Pizza deal is going to take a large amount of money and management’s time.