According to its press release, Woolworths (publicly listed in Johannesburg as “WHL”) wholly owned subsidiary, Country Road Group, had entered into an agreement to acquire Politix, a market-leading retailer in Australian menswear design. The amount offered to Politix is not disclosed. Management at WHL puts this acquisition as “consistent with WHL’s southern hemisphere strategy of building a strong and diversified portfolio of iconic brands”. Politix will add to WHL’s existing Australian portfolio which includes David Jones, Country Road, Witchery, Trenery and Mimco.
Woolworths Holdings Limited (WHL) is a South African-based retail group listed on the Johannesburg Stock Exchange since 1997. The company consists of three main operating companies, Woolworths Proprietary Limited (Woolworths), David Jones Limited (David Jones) and Country Road Limited (Country Road Group).
- Woolworths South Africa (Woolworths or WSA) is based in South Africa and operates across 11 countries in sub-Saharan Africa.
- David Jones (David Jones or DJ) is based and trades in Australia and New Zealand.
- Country Road Group (Country Road Group or CRG) is based in Australia and trades in Australia, New Zealand and South Africa
Politix is a 40 year old leading menswear design retailer with 75 stores, including 31 concessions across Australia. Its FY 2016 (1st July 2015 – 30th June 2016) sales was A$56 million (approximately US$ 42 Million).