Italtile Retail
Nature of business
Leading retailer of exclusive fashionable ranges of tiles, bathroomware and related products.
| Strategic positioning |
Target market |
Footprint |
| 'Live beautifully.' |
- LSM 8 – 10.
- Discerning consumers in the upper-middle and premium-end segment and commercial projects market.
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stores (2023: 15*) |
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Nationwide commercial division focused on projects. |
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store opened (2023: 0). |
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| store revamped (2023: 1). |
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* Includes one webstore. |
| Key performance indicators |
Trends 2024 |
Trends 2023 |
| Sales |
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| Average basket growth |
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| Average selling price |
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| Margins |
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| Net profit |
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| Stock turn |
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| Average store inventory |
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| Key differentiators |
- Trend-setter and leading buyer of exclusive, high-quality, fashionable, international and local products.
- Widely recognised as the industry front-runner in environmentally sensitive products.
- Well-established specialist expertise and nationwide network.
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| 2023/24 priorities |
Scorecard |
- Continue procurement of quality, fashionable product.
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- Improve market share through exceptional service and products.
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Maintained share |
- Establish and grow the new Gqeberha store.
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Underway |
- Develop management depth for future growth.
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- Improve stock turn and enhance stock management.
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| 2023/24 major achievements |
2024/25 priorities and prospects |
- Both stock turn and stock management were significantly improved, and forecasting and procurement were concomitantly refined, driven via analytics.
- Two new high-calibre store managers were developed and integrated into the business.
- Completed integration into the Group's transport management system ("TMS"), which afforded cost savings.
- A major revamp of the Cape Town store was achieved, with minimal disruption to customers or trading.
- Advanced selling skills training for experienced retail consultants was rolled out, in conjunction with ongoing interior design training.
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- Continue to differentiate in the market through fashion, service and quality.
- Grow revenue and net profit through improved market share.
- Further reduce slow-moving stock and improve stock turn.
- Contain operational costs through cost leadership at every opportunity.
- Build the personnel pipeline by developing further new high-calibre store managers.
- Grow share of the commercial projects market.
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TopT
Nature of business
Retailer of home-finishing products including tiles, paint, ceiling décor, taps, sanitaryware, bathroom furniture, lighting, laminate flooring, window coverings, tile adhesives and accessories.
| Strategic positioning |
Target market |
Footprint |
| Every price a LOW price. |
- LSM 4 – 7.
- Entry-level value offering strategically situated in underserviced rural areas and outlying markets in close proximity to urban townships.
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stores (2023: 93*) in South Africa. |
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Corporate: (2023: 53*) Franchised: (2023: 40). |
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stores opened (2023: 5) and stores closed (2023: 2). |
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stores relocated (2023: 3). |
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* Includes one webstore. |
| Key performance indicators |
Trends 2024 |
Trends 2023 |
| Sales |
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| Average basket growth |
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| Average selling price |
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| Margins |
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| Net profit |
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| Stock turn |
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| Average store inventory |
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| Key differentiators |
- Low-cost model.
- Flexible, opportunistic home-finishing product range.
- Affordability and availability of stock and accessibility to the market.
- Strong community relationships and local marketing.
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| 2023/24 priorities |
Scorecard |
- Gain market share in our segment.
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- Open five new stores and close non-performing stores. While non-performing stores were closed, the roll out of new stores was slowed, pending an improvement in market conditions.
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- Improve core range and business-critical in-stock levels.
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- Continue to build the leadership pipeline at regional and store operator levels.
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- Grow the contribution of sanitaryware sales to total sales.
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- Roll out the new look-and-feel in targeted merchandise categories.
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- Each store to adopt a bespoke community project to enhance our strong local community relationships and build customer goodwill.
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| 2023/24 major achievements |
2024/25 priorities and prospects |
- Grew tile sales volumes in an extremely competitive trading environment.
- Improved or maintained average business critical and core range in-stocks, and continued to work on reducing stock holding.
- Significantly reduced stock control costs.
- Company-owned stores grew sales and profits.
- Reduced total overheads as a percentage of sales.
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- Gain further market share in our segment.
- Open five new stores and close non-performing stores.
- Continue to build the leadership pipeline at regional and store operator levels.
- Continue to further increase the contribution of bathroomware to total sales.
- Grow tile sales volumes through a consolidated but comprehensive range and competitive prices.
- Increase stock turn and reduce slow-moving stock.
- Improve productivity and contain operational costs through cost leadership.
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