Pepkor to sell John Craig as demand for formal men’s wear declines
Group in talks with a potential buyer as focus shifts to growing its middle-income brands
Pepkor is selling men’s fashion retailer John Craig as the appetite for expensive brands and formalwear wanes. The sale comes as the group plans to focus on growing its middle-income brands, such as Refinery that sells adult clothing.
Pepkor CEO Leon Lourens said the company is in talks with a potential buyer, though the details have not been released...