International retailer sees bright future for new Postie
18 July 2014
International retailer Pepkor sees bright future for new Postie
International retailer, Pepkor, who own over 3,000 retail stores worldwide, said today it had purchased the assets of the former Postie Plus company, and is targeting a strong future drawing on new global backing and a re-sharpened focus on what New Zealand customers want.
Pepkor has retail operations in 13 countries on three continents, including Southern Africa, Australia, and Eastern Europe. It has over 29,000 employees and sales revenue of US$3.3B (NZ$3.75B).
Glenys Shearer, Executive Chair of Postie, said Postie is focused on creating a successful business based on an iconic brand. It will draw on Pepkor’s retail expertise, global buying power and financial resources to firstly stabilise the existing business and then to provide Postie with a stronger position in the market. While success will require hard work, this effort will bring customers many benefits, including better value, improved stores and a wider choice of clothing ranges.
The purchase of Postie is Pepkor’s’ first investment in New Zealand.
Ms Shearer said Pepkor’s arrival marks an exciting opportunity to invest in and grow a business that is a valued part of main street shopping all over New Zealand.
“It is clear to us that Postie has a very loyal following and an extensive retail network. While grounded very much in the same retail culture, Pepkor brings a new level of global expertise and reach to support future growth.
“At the heart of what we do is a commitment to listen to, and meet, customers’ needs. We bring a very clear focus on who our customers are and we will make sure we keep their needs firmly in our sights.
“I am excited by the management team and Board’s deep retail experience. I am particularly happy that Postie will be led by Richard Binns as Chief Executive.
“Richard was appointed to the former business late last year, and brings passion and commitment to using the new resources now available to build a new level of success.
“We are very pleased that the staff have confirmed their support for this move. Together, we are positive about what we will achieve.
“The company’s long term goal is to go back into communities where the old business had a strong presence. We are disappointed that a small number of stores couldn’t be part of the new business as we were unable to satisfactorily complete negotiations with landlords in those locations. We will endeavour to do all we can to make the staff in those stores the first offers of jobs when we find new premises,” she said.
Jason Murray, Managing Director Pepkor South East Asia, welcomed Postie into the Pepkor family.
“As a retailer with a strong Southern hemisphere heritage, we have been interested in the New Zealand market for a number of years. We are very pleased that we have been able to retain so many stores and to employ over 530 staff. We are determined to make the changes and investments required to make Postie a strong, successful retailer that delights its customers and serves its local communities,” he said.
Postie are writing to all its customers over the coming days to introduce the new company, and will be updating them over the coming months on each new improvement it introduces.