Tek­kie To­wn lis­ts on JSE as part of new S­tein­hoff sub­si­di­a­ry

George Herald - - VOORBLAD - A­li­da de Beer

Tek­kie To­wn, a­cqui­red by S­tein­hoff In­ter­na­ti­o­nal in No­vem­ber last y­e­ar, is to be lis­ted on the JSE on 20 Sep­tem­ber as part of S­tein­hoff A­fri­ca Re­tail (S­tar), a new, in­de­pen­dent com­pa­ny that con­sis­ts of all S­tein­hoff's A­fri­ca bu­si­nes­ses.

S­tar has its own bo­ard of di­rec­tors and ma­na­ge­ment te­am and in­clu­des 17 re­tail brands, a­mongst ot­hers Pep, Ac­ker­mans, In­cre­di­ble Con­necti­on, S­hoe Ci­ty and Bu­co. Tek­kie To­wn CEO Ber­nard Mos­tert con­fir­med on Mon­day that any re­struc­tu­ring that may re­sult from S­tar's lis­ting, will not af­fect the lo­ca­ti­on of Tek­kie To­wn's he­ad-of­fi­ce in Ge­or­ge. Mos­tert has been pro­mo­ted to CEO of the group's s­pe­ci­a­li­ty fashi­on and foot­we­ar di­vi­si­on that in­clu­des Tek­kie To­wn, S­hoe Ci­ty, Re­fi­ne­ry, John Craig and Dunns.

Braam van Huys­steen, foun­der and chai­r­per­son of Tek­kie To­wn, has been ap­poin­ted as chai­r­per­son of the S­tar pro­per­ties di­vi­si­on. Sin­ce S­tein­hoff's in­ves­t­ment in Tek­kie To­wn in 2016, Tek­kie To­wn has ma­na­ged to o­pen 53 new re­tail sto­res in Na­mi­bia, Le­so­tho and South A­fri­ca. Ac­cor­ding to Mos­tert, the first shops in Botswa­na are ex­pected to o­pen la­ter this y­e­ar through a joint ven­tu­re with sis­ter brand, Dunns.

"The S­pe­ci­a­li­ty Fashi­on and Foot­we­ar di­vi­si­on now has mo­re than 800 sto­res with just o­ver 6 200 em­ploy­ees. Alt­hough the­re are al­so of­fi­ces in Ca­pe

To­wn and Jo­han­nes­burg, the he­ad-of­fi­ce of Tek­kie To­wn will re­main in Ge­or­ge," said Mos­tert.

The hu­ge Tek­kie To­wn cam­pus in Ge­or­ge in­dus­tria now in­clu­des of­fi­ces, two dis­tri­bu­ti­on cen­tres, a fac­to­ry sto­re, the So­le Café Ca­fe­te­ria, Cross­fit Wings and an af­ter-school ho­me­work cen­t­re w­he­re em­ploy­ees' child­ren are tu­to­red and their school ho­me­work com­ple­ted.

"The S­pe­ci­a­li­ty di­vi­si­on is re­gar­ded as a high-gro­wth clus­ter for S­tar and as a re­sult it is en­visa­ged that as its stra­tegy is rol­led out, nu­me­rous jobs will be cre­a­ted na­ti­o­nal­ly," says Mos­tert.

"W­hi­le Tek­kie To­wn will re­main in Ge­or­ge we ha­ve ex­cel­lent ta­lent a­cross the group

The S­pe­ci­a­li­ty Fashi­on and Foot­we­ar di­vi­si­on now has mo­re than 800 sto­res with just o­ver 6 200 em­ploy­ees.

na­ti­o­nal­ly and in being part of S­tar, we will be a­ble to at­tract the be­st of the breed in re­tail to join our na­ti­o­nal te­am.

"A good ex­am­ple of this ta­lent de­ve­lop­ment is the fact that Tek­kie To­wn's he­ad of hu­man re­sour­ces, Lan­de­z­wa Du­la­se, is cur­rent­ly at­ten­ding S­tein­hoff's Glo­bal HR Le­a­ders­hip Con­fe­ren­ce in Pa­ris, Fran­ce."

The S­tar group has mo­re than 4 800 sto­res and mo­re than 43 000 em­ploy­ees in 12 A­fri­can coun­tries.

It con­tri­bu­tes 19% of re­ve­nue to that of S­tein­hoff In­ter­na­ti­o­nal. Ac­cor­ding to an in­ter­nal com­mu­ni­ca­ti­on sent out by S­tein­hoff, S­tar "will re­main an in­te­gral part of the glo­bal S­tein­hoff fa­mi­ly, who, with its sca­le and sup­port, will con­ti­nue to add va­lue to the A­fri­can o­pe­ra­ti­ons".

P­ho­to: A­li­da de Beer

Per­son­nel of Tek­kie To­wn at the ex­pan­si­ve he­ad-of­fi­ce in Ge­or­ge.

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