The South African retail giant Pepkor is making a major move into the adult fashion and homeware space with the acquisition of four key brands: the fashion labels Legit, Swagga and Style, as well as the homeware retailer Boardmans, from the privately owned group Retailability, The Times of India reported.
The newly acquired businesses include 462 stores across Botswana, Eswatini, Lesotho, Namibia and South Africa. These will be integrated into Pepkor’s Speciality business unit, which already manages 941 stores in the same markets.
In a statement on 25 March 2025, Pepkor confirmed that the acquisition will be settled in cash and is valued at approximately ZAR 1.94 billion (USD 107 million), representing less than 2% of its market capitalisation of ZAR 97 billion. The final amount remains subject to net working capital adjustments.
The acquisition expands Pepkor’s reach in the adult fashion market, building on its strong position in children’s clothing and schoolwear through its PEP and Ackermans brands.
‘The proposed transaction will add significant scale to Pepkor Speciality and enhance its adultwear offerings, particularly in womenswear through the Legit brand’, the company stated.
Retailability, a retailer of affordable fashion and lifestyle products, gained attention in 2020 when it acquired the struggling Edgars chain from Edcon, which had entered bankruptcy protection.
Despite the sale of Legit, Swagga, Style and Boardmans, Retailability will retain and continue operating key brands including Edgars, Edgars Beauty, Red Square, Kelso and Keedo, maintaining a strong presence in the Southern African retail market.
Pepkor Holdings Ltd, founded in 1965, is a leading South African retail group headquartered in Cape Town. Known for its value-driven business model, the company serves low- to middle-income consumers across Southern Africa and beyond. It has been listed on the Johannesburg Stock Exchange since 2017.
Over the past year, Pepkor has stepped up its focus on adult fashion, acquiring Choice Clothing and launching Ayana, a dedicated womenswear brand. These initiatives reflect a broader strategy to complement Pepkor’s existing focus on children’s apparel by increasing its presence in the adult clothing market.
