Old Mutual backs Footgear’s plans to buy Edcon unit
Old Mutual Private Equity says that the branded footwear retail space is growing globally ‘as consumers shift away from formal to more informal and casual wear’
15 July 2019 - 10:16
Old Mutual’s private equity arm is backing a plan by Footgear to buy a unit of Edcon to create one of Southern Africa’s largest sports and casual wear businesses.
Footgear plans to combine Edcon’s Edgars Active and High Key assets and rebrand existing stores under the Footgear name, in which Old Mutual holds a majority stake...
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