Zimbabwe’s market leaders in this field and it is our resolve to remain so. Founded by Sydney Press, Edgars Stores was registered as a company in Zimbabwe, then Rhodesia, in November 1948. The first Board Meeting was held on 18 January 1949, and present Directors were: Hurbert Press - In Chair, Sydney Arnold Press – nominated as Chairman of the Board of Directors, Max Jacoby and William Hardcastle. The company went public in 1974. To hedge against potential risks associated with erratic supplies and stockouts which could easily damage service delivery, the group acquired Carousel Clothing factory in 1974 and the Jeans Company in 1993. In 1984, another retail brand called Express was introduced and its first store opened in Harare’s Julius Nyerere Way. By 1988 there were 24 Express outlets. In November 2011, Express Mart was rebranded and Jet Stores launched, to offer more value and variety to customers. Our vision We aim to be Zimbabwe’s undisputed market leader in the clothing and footwear retail business offering quality, value and superior customer service in world class shopping environments. Our strategy Edgars strategy remains anchored in offering families the opportunity to purchase fashionable value-for-money quality clothing and footwear merchandise on cash or on credit. Future growth in sales and profitability will be generated from: • Promotion of credit and financial services products. About TjeludoNdlovu Tjeludo is a qualified Chartered Accountant with a passion for fashion. After 9 years at Ernst & Young, she left to join Edgars Stores Limited as Group Financial Accountant and Company Secretary in November 2012, a position she held up to June 2016. She was then promoted to head up the Jet Chain and subsequently moved to head the Edgars Chain in 2018. Tjeludo was promoted to the position of Group Chief Executive Officer (Group CEO) in July 2020 - overseeing the overall business functions of the Edgars Stores Limited Group. As the CEO, Tjeludo reports to the Board of Directors and provides leadership and strategic guidance for the Group’s business units; from the retail chains, Jet and Edgars, the manufacturing arm Carousel, to the credit and financial services arm which also carries the Microfinance unit Club Plus. Company Profile Edgars Stores Limited is a limited company incorporated and domiciled in Zimbabwe whose shares are publicly traded. Our core business is the retailing of clothing, footwear, textiles and accessories. Through our credit and cash stores we aim to supply our customers with value for money by providing quality merchandise for the family at competitive prices. We are • Ensuring sufficient depth and breadth of inventories for our customers • Organic growth from our department stores • Productivity improvements and refurbishment initiatives at our stores Our Business Philosophy Our business is retailing. Through credit and cash stores we aim to supply quality products. We aim to be Zimbabwe’s undisputed market leader in the clothing and footwear retail business offering quality, value and superior customer service in pleasant shopping environments. Retailing is people oriented and our existence and continued success is dependent on our ability to satisfy our customers’ needs and value expectations. We endeavour to appeal to a broad spectrum of consumers, catering in a professional manner to their needs. Our staff deliver a wide selection of quality products that are competitively priced with courtesy and professionalism. Our goal is to earn our shareholders optimum returns on invested capital through steady profit growth and astute asset management. We are committed to honesty and integrity in all relationships with suppliers of goods and services. We are demanding, but fair, and evaluate our suppliers on the basis of quality, price and service. We recognise our role in society and support worthwhile projects, particularly of a charitable or conservation nature. CEO Today Af r i ca Award s 2021 - Zimbabwe - Tjeludo Ndlovu Chief Executive Officer of Edgars Stores Limited www.edgars.co.zw - 81 -
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