South African Woolworths to buy Australian menwear brand Politix
Thursday, 06 October 2016 11:47
South African retailer Woolworths announced in a statement published on Oct. 5 that it will buy Australian men’s fashion brand Politix.
Woolworths which sells upmarket food and clothing said the deal would be sealed through its Australian subsidiary, Country Road Group, without revealing its price.
The SA retailer is already in Australia where it acquired over the past years, various clothing and cosmetics brands such as David Jones, Witchery, Trenery and Mimco.
Politix which has 75 stores in Australia, should generate a turnover of $42.70 million in 2016.
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