Christo Wiese – the South African retail mogul – is planning a move to the UK high street by launching a discount clothes store with Andy Bond, the previous boss of Asda.
Estée Lauder Companies, Inc. has unveiled plans to expand its presence in sub-Saharan Africa by rolling out its Clinique and MAC brands on the continent. Sue Fox, Estée Lauder’s managing director for sub-Saharan Africa, told Reuters this week that the cosmetics giant had been “inundated” with requests after launching its MAC makeup in Nigeria’s largest city Lagos, and will be opening another store in the city within weeks.
Arcadia’s Topshop and Topman brands are set to arrive in South Africa just in time for Christmas as Edcon and House of Busby are granted franchise rights for the UK-based retailers. According to South African press, the brands’ initial roll-out will consist of stand-alone stores, the focus of which will be a 950m2 flagship store in Johannesburg’s Sandton City, opening by the end of November.
Thomas Pink has unveiled its first South African store located in Johannesburg’s upmarket Hyde Park Corner shopping centre. The new store is the first in a handful the prestigious British brand has planned for the country, as it seeks to tap into emerging markets that have not been so affected by the eurozone crisis and credit crunch.
Mobile phone giant Vodafone have reported a 9.5 per cent increase in annual profit to £9.5 billion.
Rocketing demand for phones in Africa and India as well as the growing market for smartphones and data across the UK and Northern Europe have aided this boom in profit during a time in which most businesses are struggling against unfavourable economic circumstances.
£5.1 billion revenue was made from selling data to smartphone users in the year ending April 2011, a 26 per cent increase on the previous year's figures. Revenue from emerging markets such as India, South Africa and Turkey have also boosted the significant rise in revenue by up to 12 per cent.
However, Vodafone are far from bulletproof when it comes to the harsh financial climate that has pervaded the past few years. The recent troubles in Egypt caused a 0.8 per cent fall in revenue from the country. Finance director Andy Halford believes that "it will take a few quarters for us to rebuild the growth."
The company are registering disparate figures across Europe, too. In the UK, Germany and the Netherlands revenues are rising by as much as 2.7 per cent, but the rest of the region is noting sales declines of up to 2.9 per cent as a result of weak consumer spending.
FORTUNE -- In the next 25 years, analysts believe the consumer market in Africa will take off. When it does, Walmart wants to be ready to seize the day.This week, Wal-Mart Stores (WMT, Fortune 500) announced a cash offer for a majority stake in the South African retail company Massmart Holdings, Ltd. The offer is scaled-back from the roughly $4 billion that Walmart wanted to pay in September for the entire company. Instead, Wal-Mart offered over $2 billion for 51% of Massmart shares. See more on CNN
Wal-Mart said it has made a cash offer of $2.32 billion to buy a controlling 51% of South Africa's Massmart, its first foray into the growing retail market in sub-Saharan Africa. See more on CNBC
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