Edcon

Summary

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Sector

Employer of Choice Ranking

Client Profile

Edcon is the largest clothing, footwear and textile retailer in South Africa with turnover of about €2 Billion and an attractive EBITDA margin. With a market share of around 30% Edcon operates about 1 200 stores. About 96% of the business is in South Africa with the balance coming from operations in Lesotho, Swaziland, Namibia, and Botswana.

The business is divided into

  • Department Store Division – serves consumers in the upper socio economic levels. Store brands are Edgars (General Department Store), Boardmans (Home & Houseware), Prato (Footwear), Temptations (Lingerie), and Red Square (Cosmetics). Sales revenue of about € 1 billion annually.
  • Discount Division – serves consumers in the lower socio economic levels via value retailing brands such as Jet (Discount Clothing & Footwear), Jetmart (Discount General Merchandise), Legit (Specialty Ladieswear), and Discom (Beauty & Cosmetics). 
  • CNA – Multi-category retailer of books, magazines, stationery, cards & gift-wrap, music, interactive gaming & toys, and music.

The Credit business operates both private credit and loyalty cards. The private label credit cards offer 12 month interest bearing and 6 month interest free options. The cards can be used across all the Edcon chains. There are about +/- 4 million active accounts – twice the number of the closest competitor. A high proportion of the active accounts are also loyalty club members. The collections capability is wholly owned and managed. Risk management is in-house with support from PIC Solutions using the Vison+ operating platform.

The Financial Services business offers a range of other financial products from cell phone and funeral insurance products to consumer credit protection via a joint venture with Hollard Insurance. There are about >5 million insurance policy holders. The main consumer credit products are co-branded MasterCard, personal & home loans, and vehicle finance offered via joint ventures with various banks, including Standard Bank and First National Bank.

On 14 May 2007, Bain Capital and management acquired Edcon, previously a JSE-listed company for R25 Billion (€2.6 Billion). 

Job Opportunities at Edcon

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