SOURCE: African Business Review

African Business Review

March 14, 2011 14:49 ET

Linda Masterson, Managing Director of Edgars Group, Explains a Nationwide Re-vamp to Recapture Its Position as the Market Leader in African Business Review

SAN DIEGO, CA--(Marketwire - March 14, 2011) - After a difficult decade where working capital was decimated, Edgars Stores is in the process of re-positioning its brand and upgrading its stores across Zimbabwe in a bid to secure its position as market leader.

During the period of hyperinflation between 2007 and 2008 Edgars was forced to consolidate and relinquish its poorer performing stores. By the end of 2010 the number of retail outlets had fallen to 33, however despite losing 43 percent of its stores, Edgars managed to retain 62 percent of its trading space which stood at 34,100sqm.

Since the end of 2010 Edgars Stores has opened a small but modern retail outlet in the up-market Sam Levy's Village shopping centre in Borrowdale, Harare, signaling its recovery after the global economic recession. Despite opening 2011 in an undercapitalised position, Edgars Group Managing Director, Linda Masterson believes that, over the course of 2010, the Edgars chain recaptured its position as market leader. It did so through a measured risk appetite and the re-establishment of credit to its customers. "We aim to supply our customers with value for money by providing quality fashion merchandise for the family at competitive prices and superior customer service in convenient shopping environments. We believe that we are Zimbabwe's market leaders in the credit retailing of clothing and it is our resolve to remain so," she says.

Read the full company report, here.

About Edgars Stores

Founded by Sydney Press in South Africa in 1929, Edgars Stores core business is the retailing of clothing, footwear, textiles and accessories. The company's first store was located in Johannesburg and in 1946 Edgars Stores first Zimbabwean outlet was opened in Bulawayo.

About African Business Review

African Business Review is a leading digital media source of news and content for C-level executives focused on business and industry-specific news throughout Africa. African Business Review is the territory-dedicated arm of the White Digital Media Group. Founded in 2007 by entrepreneur Glen White, White Digital Media retains a diversified portfolio of websites, magazines, daily news feeds and weekly e-newsletters that leverage technology to innovatively deliver high-quality content, analytical data, and industry news. For more information, contact 1-760-827-7800 or visit http://www.africanbusinessreview.co.za/.

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