Retailability Proprietary Limited, a clothing retail store trading under the names Beaver Canoe, Style, and Legit, has added Edgars to its list of stores after acquiring some of parts of the Edcon-run businesses in Botswana, thanks to approval of the merger by the Competition and Consumer Authority (CCA).
“The Authority has approved the proposed acquisition by Retailability through Oclin Proprietary Limited (Oclin Botswana) of parts of the Edgars business conducted by Edcon in Botswana (through Edcon Botswana) as a going concern, consisting of certain assets and identified liabilities,” CCA says in a statement.
According to the statement, the transaction between the two is not likely to result in prevention or substantial lessening of competition, or endanger continuity of services offered in the relevant market. “However, it is noted that the proposed transaction gives rise to public interest concerns under Section 52(2)(e) of the Act, whereby possible retrenchments/redundancies may arise as a result of implementation of the merger,” CCA notes.
The statement gives the assurance that there shall be no merger-specific retrenchments or redundancies that may affect employees of the merged enterprises.
The acquirer, Retailability, is controlled by Clifford Raymond Lines and Metier Investment and Advisory Services Proprietary Limited.
Beaver Canoe, which is one of the stores that Retailability trades through, sells clothing for men and boys only while Style offers men’s and ladies’ contemporary and formal fashion. Legit has a fashion store format which focuses on retailing of clothing, footwear and accessories, as well as colour cosmetics and cellular products. There are currently five Beaver Canoe stores, 10 Style stores and seven Legit stores across Botswana.
The acquired business forms a part of the Edgars Division, which is Edcon’s department store brand selling clothing, footwear and accessories for men, women and children. In addition, these stores offer textiles, cosmetics and cellular products. The Edgars business is controlled by Edcon Botswana, which in turn is controlled by Edcon.
The business comprises two Edgars franchise brand and private label stores across Botswana. “These stores target middle to upper income customers and are home to a range of private label brands such as Free2BU, Charter Club and Stone Harbour, as well as a wide range of market label brands such as Levi’s and Guess for clothing, footwear and cosmetics,” says CCA.