Connect with us

Economy

Jet has been part of TFG since 2020

Published on

Jet has been part of TFG since 2020

TFG took over the Jet brand from the Edcon group in 2020 and has now focused on expanding the Jet Home brand and retail locations across the country.

TFG (The Foschini Group) purchased Jet in 2020, when the Edcon Group filed for business rescue and could no longer maintain the brand. Since then, TFG has made a considerable effort to bring Jet back in a big way.

Jet has been part of TFG since 2020

Although many of us associate the Jet brand with the Edcon group, the brand actually fell by the wayside when the group started experiencing major financial difficulties and filed for business rescue in 2020.

Fortunately, another well-known retail giant, TFG swooped in just in time to purchase the Jet assets for a reported R480 million in 2020, and Jet officially became part of TFG.

TFG is also home to a variety of other fan-favourite brands like @home, Coricraft, Volpes Totalsports, Markham, The FIX and more.

Since then, TFG has just about done everything in its power to restore the Jet brand to its former glory.

This includes re-launching the Jet Home brand, putting plans in place to open dozens of new stores in the next few years, and making the transition as easy as possible for Jet’s loyal customers.

How do the Jet and TFG accounts work?

If it is news to you that Jet is no longer part of the Edcon group and you are panicking about what happened to your Jet account, do not worry. You can still pay your Jet account in Jet stores if you always did before.

Moreover, as an added bonus, you can now also use your Jet account to shop in TFG stores all around South Africa.

The opposite is also true, and you may be happy to hear that you can now shop for your favourite Jet products with your TFG account, check your balance, and receive refunds in Jet stores.

Jet Home is set to grow even bigger

When TFG first took over the Jet assets, its CEO, Anthony Thunström confirmed that part of the reason why they had decided to buy the brand was to get a foot in the door with the R12 billion value homeware sector.

The first step in TFG’s plan to stabilize the brand has been to roll out hundreds of the store-in-store Jet Home concept stores and various Jet Home concept stores across the country.

TFG plans to open even more Jet stores nationwide

Jet Home is not the only part of the business that TFG has expanded since taking the reins.

Thunström has also announced plans to expand the brand into new regions, with a strategy to open about 1000 new stores between 2020 and 2024.

Trending