South African retail giant TFG is actively looking to make acquisitions in the UK as part of the ongoing consolidation in the country’s retail market. TFG CEO Anthony Thunström has expressed interest in purchasing retail companies that might become available for sale or face financial difficulties in the near future. While there have been speculations about TFG’s involvement in a rescue deal for British brand Joules, Thunström did not comment on it specifically. Nevertheless, he did highlight the abundance of opportunities in the UK market, driven by the ongoing cost-of-living crisis. Thunström emphasized that TFG sees the potential for growth in the UK market and is determined to expand its presence there.

TFG currently owns popular South African clothing brands such as Foschini and Markham. In its pursuit of acquiring British retail companies, TFG is open to considering brands targeting various income levels. This suggests that the company is willing to diversify its portfolio and cater to a wide range of consumers in the UK.

Interestingly, Thunström reported strong demand and positive sales across TFG’s brands during the recent Black Friday weekend. This indicates that despite the cost-of-living crisis, consumers are still willing to save up for big-ticket items. This positive performance further solidifies TFG’s belief in the potential profitability of the UK market.

TFG’s potential acquisition in the UK market aligns with the company’s long-term growth strategy. By capitalizing on the opportunities arising from the challenging retail landscape, TFG aims to strengthen its position in the industry and expand its presence internationally. The UK market, with its current dynamics, serves as an ideal target for TFG’s expansion plans.

Useful links regarding the consolidation in the UK retail market and potential acquisition strategies:

1. ” target=”_blank”>Retail Gazette: Sainsbury’s Owner in Talks to Acquire Asda from Walmart