THE BLOODBATH CONTINUES 🩸
Investors continue to avoid clothing retailers because of weak discretionary demand and offshore competition.
🩸Foschini Group = (-34.89%) 🔴
🩸Pepkor = (-19.93%)🔴
🩸Woolworths = (-18.65%)🔴
🩸Truworths = (-8.15%)🔴
🩸My Price = (-3.43%) 🔴
This is arguably being driven by the rise of platforms like Shein and Temu, which have put significant pressure on retail margins.
At the same time,
consumer spending habits are shifting away from traditional brick-and-mortar stores toward online shopping, further reshaping the retail landscape.
On this day 7 Years ago i sold the very first pair of @DRIP_rsa . On F2 i had turned my apartment into an unorganised warehouse.
F3 i had just gotten my first 18 Square meter warehouse at Co-Space Midrand. That’s January 2020.
F4 we were still pushing in the streets and disrupting the market.
7 Years of Scaling, building, losing, winning and creating over 300 jobs.
7 years later, we do it again. 🙏🏿