The Foschini Group Acquires Street Fever ZA Through Sneaker Factory
The Foschini Group Acquires Street Fever ZA Through Sneaker Factory. The Foschini Group has announced that it has acquired Street Fever ZA, which is sneaker company that has deep roots in South Africa. The announcement was made by Sneaker Factory, TFG’s subsidiary on LinkedIn.
The post read, “We’re excited to share news of TFG’s latest acquisition: Street Fever. The acquisition done through TFG’s fast-growing value athletic and leisure footwear retail brand Sneaker Factory opens up more opportunity for our brand to grow.” Street Fever originated from humble beginnings; A family-owned business with roots entrenched deep in their heritage. The foundation was laid back in 1974 when the eldest of four brothers opened a men’s outfitter in Cape Town.
The sneaker culture itself was created in 1989 with the opening of an outlet called Bronx, one of the first sneaker stores in Cape Town. The brothers combined and saw an opportunity in the market to create a leading, independent sneaker store, culminating in the opening of the first Street Fever in 1996 in Cavendish Square, Cape Town. Fast forward to today and Street Fever boasts 124 stores across South Africa, along the way earning itself a reputation as a leader in the lifestyle and sports footwear category in the country.
“Loyal Street Fever customers can rest assured that they will find familiar faces in the rebranded Sneaker Factory stores as the staff will be retained, while TFG will bring even more competitive pricing, exciting new brands, accessories and apparel, while having access to TFG credit and our industry leading Rewards programme,” Sneaker Factory head of business Nizamudien Parker told MoneyWeb.
