Stuttafords to reduce outlets

The project is part of its big departmental store strategy to be carried out over the next three years to position Stuttafords as a leading retailer selling internationally branded products.

CEO Marco Cicoria said the strategy would involve the relocation of certain smaller stores into highly prominent regional malls.

“We've defined Stuttafords to be a department store and being the only department store left in SA after 150 years, we felt that we needed to reinvent the brand for what it is,” Cicoria said.

Stuttafords' Sandton store was the first to be refurbished at a cost of more than R20m, and the project was completed in December.

Cicoria said as a result of this project, the turnover of the Sandton store had since increased between 20% and 25%.

He said the retailer had not yet calculated the total cost of the whole project, but it expected to complete refurbishing at least three stores a year.

Source: Business Day

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