Woolworths have just increased their style cred by getting Pharrell Williams on board as Style Director and though his focus will be on sustainability, it is still a good weapon for Woolies to have as part of their style arsenal. Pharrell was selected by CFDA as their fashion icon of the year and the fact that the Woolies brand will now be associated with this kind of style star is awesome for a South African Company.
The company has really evolved from being at the bottom of the list in terms of South African Fashion options to where it is today. This was made possible by relaunching their RE: and Studio W brands with influential style stars such as Candice Swanepoel, Joan Smalls and the rockstar Lenny Kravitz daughter – Zoe.Embed from Getty Images
The numbers confirm they ain’t playing around…According to the WHL integrated report of 2014, Woolworths Clothing & General Merchandise (C&GM) and Country Road Group accounted for 49% of turnover and 66% of profit for the company (profit including earnings from Woolworths Financial services and excluding the acquisition costs of David Jones). Furthermore Woolworths C&GM and Country Road Group indicated 17.6% and 11.5% adjusted operating margins, respectively. In addition an increased market share for the year was evident for the Clothing and General Merchandise segment of the group. *
Big up to the leadership of the company which has steered the direction of Woolworths in becoming more relevant in terms of fashion retail options globally. The acquisition of Australian Brands such as Country Road, Witchery and David Jones are strategic moves that will enable them to be a bigger player in the fashion realm. In combination with David Jones, Woolworths Holdings Limited has the second largest buying power for clothing in the southern hemisphere.
Now with a CFDA Fashion icon on board as Style director, the company will grow even more. Exciting times indeed for South African Fashion Retail!
*Info from WHL Integrated Report 2014