Is Truworths part of TFG? Facts on South Africa's retail giants
The Foschini Group (TFG) is a South African retail clothing group that operates under various brands. Headquartered in Cape Town, it boasts over 3,000 stores within its portfolio. But is Truworths part of TFG? No, these are separate, direct competing companies in the fashion and lifestyle retail sectors.
Source: Instagram
TABLE OF CONTENTS
Key takeaways
- Truworths International Limited was founded in 1917 (108 years ago), while TFG was founded in 1924 (101 years ago).
- TFG trades in Africa, Australia, and the UK, while Truworths operates in Southern Africa, the Republic of Ireland, and the UK.
- Hilton Saven is Truworths' chairman, while Michael Lewis is TFG's chairman.
Is Truworths part of TFG?
Truworths and The Foschini Group operate as major players in the South African and international fashion retail landscape, but they are distinct entities. Each has its own portfolio of brands and separate stock exchange listings.
Source: Getty Images
Exploring The Foschini Group (TFG)
American entrepreneur George Ivan Rosenthal founded TFG. He opened the first store, named "Foschini", on 27 November 1925 in Johannesburg, South Africa. At the time, the brand focused on selling low-priced, imported women's clothing. In 1941, it became the first clothing retailer to be listed on the Johannesburg Stock Exchange.
The group has expanded significantly through acquisitions
In 1967 and 1968, TFG entered the jewellery and menswear markets by acquiring the American Swiss Watch Company and Markham, respectively. The group acquired the British women's wear clothing brand Phase Eight from TowerBrook Capital Partners in 2015.
The following year, TFG acquired the Whistles fashion brand, which had 46 retail shops. The same year, the group made its first foray into Australia with the acquisition of Retail Apparel Group from Navis Capital Partners. According to TFG's website, some of their major brands include:
- Coricraft
- Exact
- Hobbs
- Jet
- Foschini
- Totalsports
- Sportscene
- Fabiani
- @home
- Tarocash
- G-Star Raw (Franchise)
Source: Getty Images
Truworths International Ltd: A separate entity
Truworths was founded as The Alliance Trading Company, but changed its name to Truworths Fashion House and then to Truworths Ltd in 1940.
By the 1950s, the company had expanded to over 80 stores in South Africa. In 1959, its sales reached R1 million. The retailer had 280 stores by the late 1970s. Truworths acquired British shoe chain Office Holdings for £256 million in December 2015.
A look at Truworths' operations
Truworths mainly deals with the sale of clothing and footwear in physical stores and online. According to the company's official website, some of the brands under its wings include Daniel Hetcher, UZZI, Truworths, LTD Kids, Context, Earth Addict, LTD, Earth Child, Truworths MAN, OFFICE London, Offspring and Nartjie.
Key differences between TFG and Truworths
Source: Instagram
To further clarify the question of whether Truworths is part of TFG, it is essential to understand the key difference between the two companies. They are as follows:
Feature | TFG | Truworths |
Trading | Trades under the ticker symbol TFG on the Johannesburg Stock Exchange | Traded under the ticker symbol TRU |
Growth | Has shown significant growth through its diversification strategy | Growth has been slower compared to TFG, but it has maintained a loyal consumer base due to its high-quality products |
Employees | Has over 50,900 employees at the time of writing | Has over 12,000 employees |
Revenue | Its revenue was estimated at R62.6 billion in early 2025 | Its revenue was estimated at R21.3 billion |
Management | Its CEO is Anthony Thunström | Its CEO is Michael Mark |
FAQs
TFG offers a wide range of products, including clothing, footwear, sportswear, jewellery, and homeware. On the other hand, Truworths primarily focuses on fashion apparel, with its UK brands specialising mainly in footwear. Here are some frequently asked questions about the two companies:
Is TymeBank part of TFG?
In October 2021, it was reported that TymeBank would open about 600 outlets in TFG retail outlets. The projects began the following year.
Source: Instagram
Is Identity part of Truworths?
Identity is one of the brands owned by Truworths International Ltd. The company focuses on trendy merchandise for the youth market.
Wrapping up
Is Truworths part of TFG? No, these two publicly listed companies are business rivals and operate independently of each other. They both focus on fashion apparel and operate off a diverse brand portfolio.
DISCLAIMER: This article is not sponsored by any third party. It is intended for general informational purposes only and does not address individual circumstances. It is not a substitute for professional advice or help and should not be relied on to make decisions. Any action you take based on the information presented in this article is strictly at your own risk and responsibility!
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Proofreading by Kelly Lippke, copy editor at Briefly.co.za.
Source: Briefly News
