Edcon: A slightly dowdy old dame is being tickled up
Edgars and CNA were overdue for a facelift, says CEO
Edcon is rebranding its Edgars and CNA stores as part of its strategy to challenge fast-growing competitors.
Edgars, the last remaining South African departmental store chain, has struggled to compete in the highly competitive fashion retail market which is increasingly being dominated by international brands such as Zara and H&M at the high end and Ackermans and Pep in the lower-LSM market.
Since joining Edcon in January, industry veteran and former Massmart top man Grant Pattison has been putting together and implementing a turnaround strategy for the group.“The departmental store model offers convenience and we are recommitting to this model,” Pattison said.
On Thursday Edgars CEO Mike Elliot said the business was in the process of a logo facelift, which would complement the new store layouts and the rollout of its next-generation stores.
Julie Day, CNA’s general manager, said the “new-look CNA” would consolidate its focus on stationery, educational material and arts and crafts.
“We had lost our way but we are back,” Day said, adding that the arts and crafts division had seen double-digit growth in the last three to four months since its revitalisation.
Without confirming particular stores, Pattison said the company would open some and close others.
“Making our store portfolio more efficient will mean less space going forward and maximising on our private labels,” Pattison said.