I can’t believe the amount of exclusive brands that are closing down in Waterfront and in South Africa. It really saddens me because they are such good brands but unfortunately the market isn’t big enough for them.
Stores that closed down in Waterfront and in South Africa are : Stuttafords, River Island , Mango , Ninewest , Ted baker and Tommy Hilfigure.
I done some research as to why these brands are closing down and I’ve learnt that there is greater competition with international brands in the South African market such as Top shop and H&M.
Since these stores have closed down or are currently in the process of closing, other retailers are already prepared to take over their spots in malls. Some of the Nine West shops have been rebranded into Steve Madden shops.
Edgar’s has also decided to stop stocking certain international brands such as Express, Geox, Lucky brand , One Green Elephant, Tom Tailor, River Island and Vero Moda. This was part of Edcons strategy and it was said that the international brands’ profit margins are not as big as the groups own brands.
I guess the only perks of a store closing down are the major freakn sales! 😜