TFG's acquisition of Australian menswear chain Retail Apparel Group (RAG) will be a platform for TFG to establish a presence in that country for its other brands. CEO Doug Murray said of the acquisition of RAG, which was announced this week: "Australia has always been on our radar as there are a lot of similarities, lifestyle-wise, with South Africa and we are talking about a huge mid-market consumer. "We could take something like jewellery, which is a massive opportunity to be a big disruptor in our Australian market. Sports could also go there. But we are not going to dictate what that is until we work with the management that is over there," he said. RAG is one of the biggest menswear brands in Australia, with 400 stores, and also operates in New Zealand. A majority stake was sold by its founder, Stephen Leibowitz, to private equity firm Navis Capital in 2011. Murray said RAG had about 6.8% of the menswear market in Australia, while retailers like Cotton On's menswear division ha...
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