Edgars Q1 2024 Trading Update
March 7, 2024
Carousel is a division of The Edgars Group and is one of Zimbabwe’s leading suppliers of clothing that offers adults and children’s wear. The offering at Carousel covers everything from casual to formal wear. The factory is at the heart of the Bulawayo industry and is now one of Bulawayo’s leading employers.
On Thursday 7 March 2024 Carousel hosted The Deputy Minister of Industry and Commerce, the Honourable Raj Modi, as well as senior Councillors from the Bulawayo City Council, members of the media and invited guests to tour the plant that had been undergoing rapid capacity expansion.
During his tour of Carousel, the Deputy Minister marvelled at the new State Of The Art machinery that had been bought by Carousel to modernise their operations. He also told everyone gathered that he had visited Carousel in 2019 and they only had 33 employees and today they have over 700, with plans to get to 1,000 by the end of the year. Moving from 33 to 700 represents a growth of more than 2,000% within a 4-year period from 2019 when the new shareholders bought the Edgars group.
Bulawayo still enjoys the largest investment from the Edgars Group in Zimbabwe. Mr Tanyanyiwa, the Director of Carousel said ‘Edgars is opening a new shop at Ascot shopping centre and the customers can expect to see not only international renowned brands but also exceptional quality in the clothes that we are manufacturing through our company – Carousel’.
Since the Sub Sahara Capital group bought Edgars Stores Limited in 2019, there has been massive growth, with capacity expansion at Carousel, new shops being opened, and hundreds of employees added. Edgars Stores Limited comprises Edgars Chain Stores, Jet Stores, Express Stores, Carousel and Club Plus. Edgars Stores are on a drive to give high value offerings to the customers and are looking at revamping several stores countrywide. Zimbabwe has more exclusive quality fashion to look forward to from the Edgars group.