A WEE DRAM
CHRIS GILMOUR: Doug Murray a hard act to follow as he leaves TFG on top of its fashion game
Back in the late 1980s, The Foschini Group (TFG), or simply Foschini as it was known, was the undisputed leader among JSE-listed clothing retailers. Chairman Stanley Lewis and MD Hugh Mathew ran a tight ship, selling a wide variety of clothes and accessories, predominantly on credit, to the middle and lower end of the social spectrum. By the 1990s, Foschini had lost its way and leadership in the sector passed to Truworths. In more recent years, Mr Price has assumed that dominant role, though in the past few years even it has demonstrated its vulnerabilities as the local economy has become a progressively difficult place in which to perform. During these developments, TFG has quietly been regaining its mantle as the pre-eminent JSE-listed clothing retailer. There are now more than 4,000 outlets in 32 countries on five continents. With successful operations in Africa, the UK and Australia, TFG has no direct comparative in its sector. Much of the kudos for TFG’s resurgence is attributa...
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