Home improvement boom unlikely to last, warns Italtile
A comprehensive vaccine rollout may halt a recent surge in home improvement, but the pandemic has entrenched the value of homes for many consumers
Bathroomware company Italtile, which owns CTM and U-Light, is pressing ahead with expansion plans after setting a number of records for its 2021 year, including a R1.4bn shareholder payout, even as it warns SA’s boom in home improvement is unlikely to last.
As global economies reopen in the wake of vaccine rollouts, international trends pointed to a slowdown in home activity, CEO Jan Potgieter told Business Day. However, the group remained confident in its business model and could open and additional 10 new stores in its 2022 year...