Two of Cape Towns best known retail tycoons Christo Wiese and Raymond Ackerman are battling to maintain their respective reputations on strategic overseas ventures.
Wiese has been losing money hand-over-fist in the UK and Europe with Tradehold, which specialises in the lower end of the clothing market. Ackerman is struggling to turn grocery store Franklins to satisfactory profitability in Australia.
Tradehold and Franklins are fairly important overseas beachheads representing, as it were, meaningful points-of-presence from which the ability of some of SAs top entrepreneurial corporates can be measured by international standards.
Tradehold, on paper, looked a brilliant concept essentially duplicating Wieses affordable retail pitch to the lower income earners in the UK and selected European markets.
But cracking this market, or at least securing a viable trading margin, has been anything but a cinch.
In the year to 29 February 2008 Tradehold posted a hefty loss of £13.7 million (roughly R200 million).
It’s Tough Overseas For Cape Tycoons
July 29, 2008 by Cris | 0 Comments
In Franchise Ideas / Opportunities, Franchises, Franchising Worldwide
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