Important dates and events in Edcon's history
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1929 - 1939 | 1940 - 1959 | 1960 - 1979 | 1980 - 1999 |
2000 - 2007
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1929 - 1938
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1929
- The first Edgars store opens its doors in Joubert Street, Johannesburg,
on 6 September.
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1935
- The Johannesburg based Edgars store moves to 119 Longmarket
Street, Cape Town.
- Sydney Press joins the company as a Christmas casual.
- 95% of merchandise is imported.
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1937
- Sydney Press opens the company's second Edgars store in Johannesburg
at 81 Eloff Street (premises purchased for £500).
- Branches open in Germiston, Benoni and Springs.
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1938
- Branch opens in Durban, Cnr. West and Field Streets.
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1940 - 1959
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Early 40's
- Hubert Press joins the company (credit control, retail administration, accounting and finance).
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1944
- Basil Press joins the company (mail order division and later development division).
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1946
- Rapid development/diversification takes place. Menswear and boyswear are added, then footwear, followed by fabrics, household textiles and jewellery.
- Listed on the JSE (Edgars Stores Limited). Directors are Sydney Press, Hubert Press, Eli Ross, Alan Leon.
- There are now 10 stores in the group with an annual turnover of £536 000.
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1949
- Trading commences in Zimbabwe.
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1950's
- Eli Ross retires.
- Expansion continues.
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1960 - 1979
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1960
- Sydney Press's 25th anniversary with Edgars.
- Business now comprises 137 branches.
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1965
- Business now comprises 300 stores, 50 of which opened between 1965 and 1966.
- Imports now only account for 12,5% of sales.
- Press shows foresight in advocating a "more smoothly functioning distribution system" and "the evolution of such techniques as merchandise management accounting."
- Acquisition of Sales House.
- Acquisiton of 26 Werff Fashion Stores in the UK (disposed of in 1971).
- 7 Jet Supermarkets acquired.
- Hubert and Basil Press retire.
- Turnover approximately R40m.
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1970/71
- Acquisition of 5 Dan Hands furniture stores (1970 - 44 stores, disposed of in 1972).
- Jet expands rapidly - 35 stores in 1970, 42 stores in 1971.
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1975
- 1st Flagship Store (second generation) opens in Parow.
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1976
- 2nd Flagship Store opens in Durban.
- Johannesburg Distribution Centre officially opened by Dr. Sebastian Kleu, Chairman of the Board of Trade.
- 3rd Flagship Store opens in Market Street, Johannesburg - 10 000 m2 in size.
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1977
- Adrian Bellamy appointed MD of Edgars Stores at the age of 34.
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1978
- Official opening of Edgardale (Edgars Group Corporate headquarters) consolidating offices from 17 different locations. "Not a building - an environmental structure."
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1979
- Edgars Stores celebrates 50-year anniversary.
- Turnover R216 million
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1980 - 1999
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1981
- Ackermans Chain (clothing and textiles) purchased from the Greatermans Group, with an emphasis on cash sales and keen prices. The Chain was sold to Pep in March 1984.
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1982
- Edgars becomes a subsidiary of The South African Breweries.
- Sydney Press resigns as Chairman after 47 years with the company (died May 1997).
- Adrian Bellamy appointed as Chairman of the Group.
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1983
- Edgars Sandton City opens (third generation store).
- Group turnover R558 million.
- Vic Hammond appointed as MD and CEO.
- J. M. Kahn appointed as Chairman.
- Edgars Stores Limited selected as one of South Africa's top 100 companies.
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1990
- Sydney Press opens Edgardale II.
- George Beeton appointed as Group MD.
- Turnover now R1 981 million.
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1995
- Donald Etheridge appointed as Group MD.
- Edgars and Sales House introduce an extended 12 month credit option (in addition to the 6 month credit option).
- Group now comprises 520 stores, 643 000 m2.
- Turnover of R4 264 million.
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1996
- Five new concepts launched in Edgars - Red Square (cosmetics), The Issue (denim), Starting Block (sportswear), Studio Quattro (jewellery & watches) and Accessoreyes (sunglasses).
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1997
- A tough trading year as profitability declines on prior year on a sales growth of 10%.
- E.A.G. Mackay appointed as Chairman.
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1998
- Steve Ross appointed as CEO in September.
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1999
- Edgars unbundled from SAB.
- Internal restructuring to meet the changing market needs.
- Name changes to Edgars Consolidated Stores Limited, trading on the JSE as Edcon.
- W. S. MacFarlane appointed as Chairman.
- IT capability outsourced to Accenture (applications) and Comparex (infrastructure).
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2000 - 2007
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2000
- United Retail established to consolidate the various components of the Group's discount fashion operation. Multi-brand stores introduced.
- Launch of edcon.co.za in May, followed by edgars.co.za in September.
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2002
- The fashion component of the Group now comprises 723 facias in 429 trading locations with a turnover of R7.4 billion.
- A portion of the Group's debtors book is securitised.
- Purchase of Retail Apparel Group's debtors book and other assets.
- Implementation of growth strategy beyond fashion with the purchase of Super Mart (general merchandise) and CNA (books and stationery)
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2003
- Acquisition of various Thisday stores
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2004
- Purchase of Boardmans chain; 25 homeware and furniture stores
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2005
- Announcement of staff empowerment scheme
- Purchase of Topic chain
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2007
- Shareholders vote in favour of offer from Bain Capital
- Edcon is delisted from the JSE Limited
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