Publications
Partners
Johannesburg - Foschini [JSE:FOS] on Tuesday said it has bought luxury menswear brand Fabiani for an undisclosed amount, giving it entry into the high wealth customer segment that only a few of its brands currently tap into.
Fabiani was established in 1978 and originally became renowned for the exceptional cut of its suits, quality fabric and design details.
It later expanded its offer to include casual clothing, shoes and fashion accessories, and will now operate as a division within the Foschini Group's (TFG's) menswear chain Markham.
Ronnie Stein, TFG's chief financial officer, said the group would add value to the Fabiani brand by providing online shopping, in-store credit, gift cards and by optimising supply chain benefits.
"We believe that Fabiani, which currently trades out of seven upmarket outlets, has great potential for expansion," said Stein.
Arie Fabian, who will join TFG as brand director of Fabiani, said that with TFG's operational and financial muscle behind the brand it hoped to increase its footprint significantly as and when opportunities presented themselves.
The group consists of 14 trading brands ranging from fashion, jewellery, accessories, cosmetics, sporting and outdoor apparel and equipment to homeware and financial services.
Fabiani was established in 1978 and originally became renowned for the exceptional cut of its suits, quality fabric and design details.
It later expanded its offer to include casual clothing, shoes and fashion accessories, and will now operate as a division within the Foschini Group's (TFG's) menswear chain Markham.
Ronnie Stein, TFG's chief financial officer, said the group would add value to the Fabiani brand by providing online shopping, in-store credit, gift cards and by optimising supply chain benefits.
"We believe that Fabiani, which currently trades out of seven upmarket outlets, has great potential for expansion," said Stein.
Arie Fabian, who will join TFG as brand director of Fabiani, said that with TFG's operational and financial muscle behind the brand it hoped to increase its footprint significantly as and when opportunities presented themselves.
The group consists of 14 trading brands ranging from fashion, jewellery, accessories, cosmetics, sporting and outdoor apparel and equipment to homeware and financial services.
