| The Foschini Group | |
| Type: | Public |
| Industry: | Retail |
| Foundation: | 1924 |
| Location City: | Parow East, Western Cape |
| Locations: | 2468 across 24 countries |
| Area Served: | Africa, UK, Australia |
| Key People: | Michael Lewis Anthony Thunström [1] |
| Revenue: | R 34.1 billion [2] |
| Num Employees: | 29,121 (2019) |
| Location Country: | South Africa |
TFG Limited, also known as The Foschini Group (pronounced as "Voesjienie" in Afrikaans), is a South African JSE listed retail clothing group, which trades under various brands and has more than 3,000 stores within its portfolio.[3] It is headquartered in Parow East near Cape Town.
In 2015, the company acquired the British apparel chain Phase Eight[4] [5] from TowerBrook Capital Partners, then valued at £300 million.[6]
In March 2016, TFG acquired the British chain Whistles with its 46 retail shops.[5] In 2017, the company acquired Australian retail company Retail Apparel Group from Navis Capital Partners.[7]
In March 2020, TFG announced that, during the on-going COVID-19 pandemic, the company would cease to pay rents for its retail locations during the resultant lockdowns in South Africa.[3] [8]
During the course of 2020, TFG acquired the chain of Jet stores from a failing Edcon, further expanding their footprint as a retail conglomerate.
On 5 October 2021, it was reported that TymeBank would open approximately 600 banking service kiosks in TFG retail outlets in 2022.[9] [10]
Through a series of investments, TFG has increased its manufacturing capacity in South Africa. By November 2021, it was producing almost three quarters of its apparel locally.[11]