Local TFG brand taken to Australia
Fashion retailer aims to bolt on domestic business as it also eyes UK
TFG plans to introduce one of its own brands into the Australian market after acquiring menswear company Retail Apparel Group (RAG) earlier in 2017, says CEO Doug Murray. "We will look at bolting on one of our businesses from SA to them next year," Murray said, declining to name the brand but adding that "we’re not lacking opportunities and ideas". TFG was also looking at opportunities to acquire more businesses in the UK and Australia, Murray said. There were "lots of opportunities" for takeovers in the UK. "We took over Whistles — and paid very little for that — 18 months ago, and that was in a loss situation and the team there have turned that around very successfully. It does give us confidence to look at other businesses and we obviously have been doing that."TFG would consider acquiring "additive" bolt-on businesses in the UK or Australia "if it’s at the right price". On Thursday the group reported that turnover in the six months to end-September rose 9.2%, or 12.6% on constan...
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