South African clothing retailers are moving forward with ambitious expansion plans, adding hundreds of new stores over the next year. This comes despite a downgrade in the economic growth forecast for the continent’s most industrialized economy. Pepkor Holdings Ltd., the largest clothing retailer in Africa, along with The Foschini Group Ltd. and Mr Price Group Ltd., are collectively planning to open up to 600 new outlets. The focus of this expansion is primarily on their discount brands, which cater to budget-conscious consumers. These retailers aim to tap into growing consumer demand, even amid economic uncertainty.
— new from Bloomberg.com
