Edgars Q1 2024 Trading Update

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March 8, 2024

Edgars Stores debuted new look, state of the art store located at the prime shopping centre Ascot Mall, Bulawayo – on Friday 8 March 2024.

The upgraded store incorporates an elevated luxurious yet minimalistic clothing display and enhanced visuals. The aim is to give the customer a relaxed, warmer shopping experience, and the new look store was designed to achieve this.

As key part of refreshing its legacy brand, the retailer sets to reposition the brand, create jobs, enhance the customer experience, deliver growth and unlock shareholder value with its modern look.

The City of Kings and Queens still enjoys the largest investment from the Edgars Group in Zimbabwe, with over 700 new jobs having been added at Carousel since 2019. Carousel is the manufacturing arm of Edgars Stores Limited. The Edgars journey started in the City of Kings and Queens and therefore it is fitting that the new shop, with its modern and trendy design, has been opened there.

Sevious Mushosho, The Group CEO of Edgars Stores Limited said “The new branch marks what we are calling the Renaissance of the Edgars brand. It is the rebirth of a world class brand, bringing exclusive fashion from all over the world onto Zimbabwe’s doorstep. We have evolved the brand and are bench marking it with international standards of fashion and exclusivity. The customers can expect to see not only internationally renowned brands but also exceptional quality in the clothes that we are manufacturing through our company – Carousel”.

While the clothing retailer has stamped its authority as fashion trendsetter through its in-house brands such as Kelso Career, Free2BU, Merien Hall, Stone Harbour, Signature, New Wave, D66, Edgars Stores also offers financial services (Credit Accounts, Hospital Cash Plan), collateral free loans (through Edgars Stores Limited’s subsidiary Club Plus Microfinance) and remmitance services (Inn Bucks, Access Forex, Steward Remit Hello Paisa, World Remit).

Since the Sub Sahara Capital group bought Edgars Stores Limited in 2019, there has been massive growth with over 60% growth in production, and new shops opened.

Edgars Stores now boasts of 27 branches across the country and still counting.