On the front foot
Valued at US$66bn, the retail sector in South Africa is large and has grown at 10% CAGR over the last decade. Clothing and footwear represents 15% of this market. Within this, footwear has grown significantly faster, at a rate of 11.5%, supported by an increasingly brand conscious middle class.
Against this background, in October 2014, Actis invested $65 million in Tekkie Town, South Africa’s largest specialist footwear retailer. The business sits at the heart of Actis’s consumer-centric approach, as a differentiated retail proposition in a high-growth sector, underpinned by the demands of brand and lifestyle-conscious African middle-class consumers.
Founded in 2001, Tekkie Town has now rolled-out over 300 stores and offers the widest range of footwear brands at great value. Tekkie Town attracts a supplier base of global brands including Adidas, Nike, Puma, Asics, Converse and Vans.
Together with founder Mr Braam van Huyssteen, we are continuing the store roll-out in South Africa, focusing on like-for-like initiatives, as well as exploring taking the business into the rest of sub-Saharan Africa.