Consumer Research Africa

TFG – On the ground research: TFG’s UK chains

We take a detailed look at Phase Eight and Whistles in the UK by conducting a number of store visits to these outlets. Through these observations, we get a deeper understanding of opportunities for further value extraction by TFG. We find Phase Eight has good quality real estate, and the extensive space it occupies in busy department stores confirms the consumer demand for this brand. We think that in terms of brand presentation, there are opportunities for harmonising the merchandise offering, which could support topline growth and reduce stock holding. The lack of uniformity in concession formats may also present an opportunity for improved efficiencies, which could support profit growth, in our view.